Mastering Group Coaching Pricing: Strategies to Set the Right Price

You’ve done it! You’ve started your Group Coaching business. Maybe you’ve set up your website but you have one thing to figure out. . . how do you price your group coaching services?

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Understanding the Basics of Group Coaching Pricing

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Let’s demystify how much you might want to charge, what to factor in when setting a price, and how to handle your financial fears around pricing.

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1. Start With Your “Why”

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What drew you to wanting to offer group coaching services in the first place?

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• Do you have a lot of one-on-one clients yet want to accommodate more people

• Do you want to serve more people while working the same amount of hours or less?

• Do you want to regain some of your time while conserving your income level?

• Do you want to serve a community who needs it by making coaching more accessible?

There can be many reasons to start a group coaching program. Work out what yours are to help you with pricing.

2. Lay the Foundation with Your Financial Goals

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We like to think finances aren’t the most important part of this equation, yet we are running a business! Be honest and pragmatic about your financial picture and what your needs are. Consider your expenses as well as what you need to make a living that allows you to thrive. Be smart about the numbers you need to think about when creating your group coaching pricing.

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Remember: Value yourself appropriately. It’s not about what you think you can charge… It’s about what you know your value is. You are a professional, offering a professional service. When someone goes to the doctor, the doctor doesn’t think “Mmmm... Is my service worth this much?” They charge what they know they’re worth! It’s easy to undervalue yourself or your services. Remember that your clients determine the value they get from your coaching, not you!

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3. Do The Math. . . We Promise, It’s Not Scary

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Once you’ve got a number in mind, you can move forward. From there, think about the duration of your program.

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How long will your program last? 3 months? 6 months? How often do you plan on meeting?

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For example, if you plan to offer 12 group coaching sessions over a 6-months period, and you want to make $8,000, you’d need to receive $667 per session. That could average to just over $100 for six participants, or about $220 for 3 people.

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Is this realistic to you? Do you feel comfortable with that number? If so, up it! We challenge you.

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4. Set Clear Time Expectations

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Remember that for group coaching services, you’re often doing most of the preparation in advance of the program’s start. PDF documents, resources, graphic design, marketing… You’ll want to factor all this work into your base fee.

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Now, remember that once you have these materials, you’ll likely only need to update them occasionally for future cohorts. But it is an investment of time and resources upfront, and you’ll need to include that into your overall cost for your services.

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5. Consider Your Audience

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It’s worth being really clear about how your cost - realistic and deserved as it will be - might impact who can afford your group coaching program. If that’s a concern for you, here are some thoughts:

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• Consider setting up a scholarship spot or two. You can decide what would feel like a realistic fee for subsidized or discounted prices for these spots and it will allow you to make sure you’re being equitable to your bottom line and the communities that are most important to you.

• Offer different tiers: Perhaps you’ll have an option for the group, and a couple more options with 1:1 calls or access to extra resources.

6. Don’t Apologize for Your Fee

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We want to end on a note that’s a common refrain we hear - many people are apologetic of how much they charge, or, their apology comes in their undercharging for their services. As you go through every step of this process, remember that people are joining your group coaching services because you have knowledge and expertise of value, and you deserve to be compensated reasonably for what you have to offer!

Finally, here is a simple formula. A lot of coaches tend to charge a third of their 1:1 rate for group coaching pricing. Perhaps that’s the easy answer you were looking for but we still encourage you to do the math and challenge yourself!

We’d love to hear from you. What are some questions you ask yourself before pricing a new program?

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