How to Set Your Online Coaching Packages

Are you struggling to price your coaching business?

The answer lies in creating the right coaching packages, not necessarily the right coaching price. How you organize your coaching packages is entirely up to you.

There are so many examples of coaching packages that we’ll touch on in this guide. Keep reading to learn how to price coaching packages for sustained profitability and growth!

1. Know Your Income Goals

The first step in determining your coaching price is knowing your expenses and income goals. This will determine how you set your prices and how much time you can offer for coaching.

If you are building a coaching business alongside a full-time job, you’ll have less time for clients and won’t need as much income. If you’ve quit your job to coach full-time, you need to make sure you’re generating a livable salary.

You can determine this by factoring in all of your monthly expenses and creating an income goal based on your calculations!

2. Research Your Coaching Niche

The niche you serve will largely impact your coaching packages. Research other coaches in your niche for examples of coaching packages. From there, you can see how they market themselves and how you can be different!

You can delve into the packages available and differentiate your own offerings within your niche. This will also help you determine what kind of pricing structures are the industry average.

This is important to make sure you are not over or undercharging your clients. Expertise is always a factor in price, but in a general niche, averages exist for a reason!

3. Hourly vs. Service-Based Pricing

A lot of new online coaches make the mistake of charging by the hour. The problem with this is it doesn’t account for all the work done outside of your client’s appointment. Are you reviewing materials, drafting a plan, emailing, and taking calls?

If so, service-based pricing will be more profitable. You can focus on having fewer clients and making more money, all while going the extra mile for every client. Creating service-based value packages is often more time-consuming, but in the long run, it is more sustainable.

For example, you can offer four months of coaching sessions at $1,600 with a one-hour video call every month. During these four months, you’ll only take four calls.

Yet the expectation is you’ll be available to answer client questions. If you were to price this by the hour, each call would cost a steep $400 for a monthly coaching package!

This is why service-based pricing is more attractive to clients and about the same work for you. It’s all about marketing!

4. Create Your Coaching Packages

Once you’ve completely followed the steps above, it’s time to actually create your packages! The niche research in step two should give a clear representation of how many packages are usually offered in your niche.

If you work with small businesses, you might have vastly different business coaching packages. One package could accommodate bootstrapping solo founders, and another can be a group coaching package for companies with 10+ employees that are venture-backed.

Some clients will want high-end coaching packages or private coaching to get instant and direct access to your knowledge.

Service Descriptions

First, think of what it is you want to do in each package. It is important to be very specific. This means including quantities, duration, dates, and amounts where necessary.

You also want to flex your self-marketing skills and drum up excitement about your coaching services!

Define Your Time Commitment

Again, it’s important to be specific about how long you and the client will be working together for a specific package. The more of a potential client’s questions you anticipate, the more likely they are to work with you.

Factor in Accessibility

It’s also vital to be clear on how accessible you’ll be in the given duration.

How many coaching sessions do you offer? Are you available for chats Monday-Friday during regular business hours? Can a client ask for your feedback on a weekend? Will you be available for feedback after your package period ends?

These are all really important to have cleared up for prospective clients but also to set your own boundaries. When self-employed, it’s easy to pressure yourself to overwork.

This shouldn’t be praised. Make sure to know your limits.

Tiered Pricing or Fixed Price

To capture different tax breaks, online coaches can include tiered pricing. Tiered pricing is essentially like a subscription service. The fancier the package, the higher the pricing.

At the beginning of your coaching, getting those first few clients is more important. Sometimes you can ask them what their budget is and adjust your pricing accordingly so you can start growing your business!

Fixed pricing can be hourly, but it can also mean all your packages are at a set standard.

A-La-Carte Services

In order to create coaching packages for small businesses that are accessible to founders, it’s wise to include a-la-carte services.

These are add-ons of services that you can do but aren’t factored into your package pricing. If a business wants a service not included in your package, you can add it with a fixed cost to offer customization.

5. Testimonials and Reviews for Increased Value

Once you get your first few happy clients, let the world know!

Trust is a top generator of revenue, so make sure to offer a high-end coaching package. Word-of-mouth and some good reviews are all you need to get your next batch of clients.

Set up a Google or LinkedIn page and have coaching clients write reviews. You may also include testimonials on your website.

Create Your Coaching Packages and Start Getting Clients!

Follow the guide above, and you’re on your way to creating profitable coaching packages! Listen to what factors are most important to you and create the life you’ve been manifesting by setting the right coaching price!

Our infamous ConvertKit and other customer funnel software will take your online coaching business a step further.

Use our tools to recruit new clients and keep old clients returning. Learn how to market yourself and write the best copy for your package descriptions.

We have all the essential tools you need to become a profitable online coaching business! Check out our site!