Life Coach Price Calculator: How To Price Your Life Coach?

Life Coach Price Calculator: How To Price Your Life Coach?

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How to Determine The Price For Your Business/Service:

Our price calculator is designed to be simple and easy to use. It covers everything you need to price your life coaching business

We hope this calculator helps you make more money for your business.

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How To Price Your Life Coach

One of the most challenging aspects to starting a life coaching business is determining how much to charge for your life coach.

When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.

Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.

On the other hand, when businesses over-price, this tends to be just as damaging to the business.

When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.

Here are some factors to consider when pricing your product:

Understand your customer

It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:

  • Customer demographic: Age, gender, location, etc.
  • Buying habits of your customer: What they buy + when they buy
  • Level of price sensitivity with your customer

All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.

Understand your costs

When pricing your life coach, it's critical that you first identify all of your costs and consequently mark up your life coach so you can factor in a profit.

The actual cost of your life coach may include things like:

  • The actual cost to make the product (ie. raw materials, supplies, manufacturer).
  • Shipping + overhead fees
  • Rent
  • Operating costs to run your business

You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.

Create revenue goals

When determining the price of your life coach, you'll want to create goals for revenue + how much profit you want your life coaching business to make.

This process is simpler than you may think:

  1. Think about your breakeven cost (by completing the above step).
  2. Create a revenue goal based on your break-even cost
  3. Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
  4. Divide your revenue goal by the number of items you plan to sell

This figure will help determine your estimated price per product in order to meet your revenue goals.

Evaluate your competition

The last piece in determining how to price your life coach is by simply looking at your competition.

The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your life coach fits best in the marketplace.

All of these factors play an equal part in pricing your life coach, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.

More Tips On Pricing Your Life Coach

Lauren Costanza, founder of Bluminary provides us with a detailed spreadsheet of all of her costs associated with running her business:

I knew this would be a self-funded adventure, and I set aside $3,000. During the first three months, I had a detailed spreadsheet where I tracked where the money was going and what was going toward products versus researching and developing new products.

The spreadsheets involved columns and rows of numbers to craft a budget and gain an understanding of how much would need to be invested at each stage of the process - from gathering supplies to building a website, and shipping materials.

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Lauren Costanza, on starting Bluminary ($500/month) full story ➜

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Thanks for reading. We wish you success in your business endeavors.

Examples of a successful life coaching business

8. Grow Your Agency ($1.44M/year)

Iman Gadzhi (from London, England, United Kingdom) started Grow Your Agency over 4 years ago.

Revenue
$120,000/month
Team
1 founders / 2 employees
Location
London

Hey everyone, my name is Iman Gadzhi! I am the founder of two core businesses: IAG Media and Grow Your Agency. The former is my B2B social media marketing agency (SMMA) where I deploy strategic marketing campaigns for global clients. The latter is my education company where I teach entrepreneurs how to start and scale a profitable SMMA with the course Agency Incubator.

My primary product is my online course. It’s an industry-leading and comprehensive course on how to create an SMMA business from scratch. So far, it has been my life’s work because so much has gone into it. I have a team that helps me do this, and I really enjoy helping my students become financially independent. My typical customers are self-starters fed up with the college route. They want to experiment with a proven online business model. In only two years, I’ve made over $1.2M in profit. Over 45 of my students make over six figures with their SMMA, and over 300 students have quit their regular jobs.

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9. Ascend Marketing, Inc ($180K/year)

Jim Ackerman (from ) started Ascend Marketing, Inc over 22 years ago.

Revenue
$15,000/month
Team
1 founders / 2 employees

At Ascend Marketing, we help small businesses to get more customers who will pay them more money, more often, through educational and Coaching Programs. Our Flagship Principle-Centered Marketing Coaching Program comes with a unique 200% Return On Investment Guarantee.

To date, we’ve put over 600 businesses through our program. All have been given the 200% ROI Guarantee, which promises if they don’t see an increase in revenue of at least twice what they pay us, they’re entitled to a refund. To date, we’ve had to refund exactly 1 Coaching Tuition fee.

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10. Personal Growth Base ($120K/year)

Sinem Günel (from Vienna, Austria) started Personal Growth Base about 2 years ago.

Revenue
$10,000/month
Team
2 founders / 0 employees
Location
Vienna

I’m Sinem, 22 years old, based in Vienna, Austria and I’m an entrepreneur, coach, and writer.

On Medium alone, thousands of people are reading my stories about personal growth, self-fulfillment, and productivity every day, totaling more than 350,000 monthly views during strong months.

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11. Optimize Yourself ($120K/year)

Zack Arnold (from Los Angeles, California, USA) started Optimize Yourself over 7 years ago.

Revenue
$10,000/month
Team
1 founders / 0 employees
Location
Woodland Hills

My name is Zack Arnold, I’m an award-winning Hollywood film & television editor and documentary director (shows such as Cobra Kai, Empire, Burn Notice, Glee, Shooter, and more).

I currently generate around $10,000/month via my ‘Optimizer’ online coaching & mentorship program which I still balance with a full-time job editing television (currently Cobra Kai), and I generate additional income with multiple products launches every year. So far I have generated over $160,000 in revenue with a list of under 5000 ...and no paid advertising.

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12. JVI Mobile Marketing ($90K/year)

Jay Vics (from Monahans, Texas, USA) started JVI Mobile Marketing over 9 years ago.

Revenue
$7,500/month
Team
1 founders / 1 employees
Location
Southeastern US

My name is Jay Vics, and I am a serial entrepreneur. My company name is JVI Mobile Marketing, and I have several productized services under that brand. Our Flagship product is a digital marketing consulting for small businesses.

Some of our best success stories and case studies have been in the Estate Sale/Home Liquidation, Family Fun Center, and E-Commerce industries. We specialize in helping B2C customers but have a few B2B clients as well.

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13. Service Based Businesses ($72K/year)

Anthony Tumbiolo (from Miami, Florida, USA) started Service Based Businesses about 3 years ago.

Revenue
$6,000/month
Team
1 founders / 0 employees
Location
Miami

Hey! I’m Anthony Tumbiolo and before I created ServiceBasedBusinesses.com I started, grew, and sold a multimillion-dollar digital agency called Jakt (you can read the story behind that here).

Members include marketing agencies, PR agencies, software design and development agencies and more. Members have revenues ranging from $100k/year to $2M+.

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14. GrowthMentor ($120K/year)

Foti Panagiotakopoulos (from Albuquerque, New Mexico, USA) started GrowthMentor about 3 years ago.

Revenue
$10,000/month
Team
2 founders / 1 employees
Location
Albuquerque

Hi everyone! My name’s Fotis Panagiotakopoulos and I’m the founder of GrowthMentor, a platform where you can connect with vetted growth mentors for one-on-one calls.

The mentors are primarily made up of growth marketers, product managers, founders, and startup veterans with years of experience. Over 2,500 mentorship calls have been booked on the platform to date.

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Pat Walls,  Founder of Starter Story

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