Business Idea

Start A Money Coaching Business

About

Starting a money coaching business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell money coaching, or selling money coaching online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$11.6B
starting costs
$15.8K
gross margin
90%
time to build
7 months

About

Starting a money coaching business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell money coaching, or selling money coaching online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$11.6B
starting costs
$15.8K

 

gross margin
90%
time to build
7 months

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $150 $250
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Other Expenses $0 $800
Total Startup Costs $2,465 $29,059

Successful Businesses

Business URL Rank
noomii noomii.com #95,878
Million Dollar Coach milliondollarcoach.com #201,278
Ontraport safechkout.net #212,283
Rainmaker Business Alliance rainmba.com #213,805
amanda frances amandafrances.com #392,670
David Neagle davidneagle.com #471,461
Coach Pony Diaries coachpony.com #522,640
Money Coaches Canada moneycoachescanada.ca #1,135,177
Coaching Blueprint coachingblueprint.com #1,369,486
Business Coach & Leadership Development Mentor acoach4u.com #1,482,653
SMI Financial Coaching smifinancialcoaching.com #1,598,611

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a money coaching business costs significantly less money than most businesses, ranging anywhere from 2,465 to 29,059.
Rewarding work Starting a money coaching business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your money coaching business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your money coaching business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A money coaching business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a money coaching business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a money coaching business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a money coaching business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a money coaching business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.