Earning Potential for Business Coaches
Business coaching has a high earning potential for those with the right skills, strategy, and implementation.
Whether you’re an executive, manager, or business owner looking for a great way to supplement your income part-time, or an entrepreneur seeking to establish a rewarding full-time practice, business coaching could be your answer.
Successful business coaches typically make between $100,000 – $300,000 a year. They do it working 30-40 hours a week, often from their home office. Business coaches charge clients anywhere from $1,500 – $3,500 a month for a few hours of coaching and consulting time per week…generating effective hourly rates of $500 to $750, or more.
But are business owners really willing to pay business coaches that much money — and, if so, why?
Small Businesses Need the Assistance of Skilled Business Coaches
The answer lies in a little-known secret about the backbone of the global economy: small to mid-sized businesses.
There are over 30 million small businesses in the United States, accounting for a full 99.7% of all employer firms…nearly 50% of all jobs…and about 44% of GDP in the United States.
And yet, most of these 30 million small business owners get started because they have an interest or skill and decide to build a company around it—NOT because they know anything about running a business based on sound management principles.
So, after they launch their businesses, it’s only a matter of time before they realize they need professional help. That’s when they call a business coach.
That’s why business coaches make so much money. These small business owners are willing to pay for the assistance they need to succeed.
That's why business coaches make so much money. These small business owners are willing to pay for the assistance they need to succeed.
After all, a good business coach can increase profits by hundreds of thousands, even millions of dollars, simply by giving small business owners the tools and information they need to solve problems and be successful.
It’s no accident, then, that business coaching has blossomed into a $11.6 billion industry.
But How Much Can I Make as a Business Coach?
Of course, just because some coaches can make six figures in coaching doesn’t mean every coach will.
If you’re considering becoming a business coach, your next question probably relates to how much you, personally, can expect to make if you start your own business coaching practice.
And the answer, as unsatisfactory as it may be, is simple:
It depends.
It depends on your skill level. It depends on your commitment. It depends on the business coaching curriculum you use. It depends on the support you surround yourself with.
There are no guarantees, but if you want to become a business coach, why don’t you start with my FREE ebook, How to Become a Business Coach? It will show what business coaching is…how to get started…and what it takes to succeed.
As you continue looking into business coaching, I’m confident you’ll discover that it’s a promising vocational path. Best wishes as you learn more!
