How Much Does It Cost To Start A Life Coaching Business? (In 2023)

Pat Walls

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Updated: January 18th, 2023

How Much Does It Cost To Start A Life Coaching Business? (In 2023)

Start A Life Coaching Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

Wondering how much it costs to start a life coaching business?

The minimum startup costs for a life coaching business: $62
The maximum startup costs for a life coaching business: $38,061
The average startup costs for a life coaching business: $22,173

Here's a detailed list of a life coaching business startup costs:

Learn more about starting a life coaching business:

Where to start?

-> How to start a life coaching business?
-> Pros and cons of a life coaching business

Need inspiration?

-> Other life coaching business success stories
-> Examples of established life coaching business
-> Marketing ideas for a life coaching business
-> Life coaching business slogans
-> Life coaching business names
-> Life coaching business Instagram bios
-> Life coaching business Instagram captions

Other resources

-> Life coaching business tips
-> Blog post ideas for a life coaching business
-> Life coaching business quotes
-> Life coaching business calculator

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost	Required?	Min Cost	Max Cost
Set up business: LLC & Corporations	Required	$50	$500
Small Business Insurance	Recommended	$500	$2,000
Permit and License Fees	Optional	$50	$700
Trademark	Optional	$0	$700
Lawyer Fees	Optional	$0	$1,500
A Patent ➜	Optional	$5,000	$15,000

Software Expenses

Your life coaching business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost	Required?	Min Cost	Max Cost
File Hosting Service	Recommended	$0	$299
Email marketing tool	Recommended	$0	$100
Accounting & Invoicing Software	Recommended	$0	$50
CRM Software ➜	Recommended	$12	$300
Project Management Software	Recommended	$0	$25
Internal Communication Tool	Recommended	$0	$20
IT Support ➜	Optional	$150	$2,000
Design Programs & Software	Optional	$0	$50
Social Media Management Tools	Optional	$0	$50
Payroll Software	Optional	$0	$200

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your life coaching business grows.

Cost	Required?	Min Cost	Max Cost
Rent ➜	Optional	$0	$5,750
Utility Costs For Office Space ➜	Optional	$0	$1,150
WiFi & Internet ➜	Optional	$0	$100

Employee & Freelancer Expenses

Cost	Required?	Min Cost	Max Cost
Payroll Costs & Fees ➜	Optional	$150	$250
Employee Hiring Expenses	Optional	$1	$2
Employee Rewards ➜	Optional	$0	$100

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost	Required?	Min Cost	Max Cost
Domain Name ➜	Required	$12	$200
Website Hosting Costs ➜	Required	$0	$300
Website Builder ➜	Recommended	$10	$500
Business Email Hosting Service ➜	Recommended	$1	$15
Website & Live Chat Tool	Recommended	$0	$200
Web Designer ➜	Optional	$200	$6,000

Part of

Starting A Life Coaching Business: Everything You Need To Know

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Pat Walls, Founder of Starter Story

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