It can be maddening for a new coach to try and find information about setting fees. While there are no hard and fast rules and it would be illegal for a professional association to “set” fees (restraint of trade laws.), here are some thoughts that you may find helpful.
I set fees based on what I need to earn to feel good about the work I deliver. I also take into consideration other forms of compensation. So, for example, when I was starting out, I was happy to accept lower fees because gaining the experience and building a client base were also important. Nowadays, I offer a limited amount of reduced fee coaching because I want to be able to serve in this way. But I no longer adjust my rates based on what I believe a group or individual can afford — whenever I have it has been a mistake.
Ask yourself what you need to earn in order to be delighted to deliver the service.
What benefits will you get in addition to dollars and cents?
As for group and individual, I generally charge less for groups (that is, less per person). The total for all individuals adds up to more than I would charge an individual for the same amount of time because I have more admin to do and more email support, questions to answer, etc. However, what I charge for participation in a group may be more than some coaches charge for one on one coaching, and I expect that are coaches who charge more for an hour of coaching than I charge for a month of group work.
How Much Should a Personal Growth Coach Charge?
