Do you own a business but could you benefit from some extra support? If this sounds like you, then you have probably started to look for ways to improve your business.
Have you ever considered business coaching? This is a great way to improve your business’s brand awareness and help your business thrive. But how much does business coaching cost?
In this blog, we will explore the complexities of business coaching fees as well as the factors that influence pricing, offering insights for those considering business coaches.
Types of Business Coaches
Every business coach is different, which is why finding the right one for you and your business is important.
Of course, you’re not going to have an identical coach for every niche and/or area you need to improve in, which is why there are different types of coaches for specific needs within a business.
Business coaches can provide you with lots of opportunities and benefits, especially if you’re looking for a business coach who can expand your business portfolio and revenue. Here are all the different types of business coaching options:
Group Coaching
Group coaching is focused on getting a group of like-minded people together, whether that be business owners, employees in similar industries or many other possibilities.
Running a business comes with a large amount of responsibilities and if you can’t keep up with the pressures it brings, you will have others there to hold you accountable during business coaching sessions.
Group business coaching services would be valuable for solo entrepreneurs looking to start up their business or an established business looking to add ideas to their current situation.
Sharing experiences, knowledge and tips around the group can help you with your everyday performance, along with shortening the list of mistakes that you could make.
One-to-One Coaching
One-to-one coaching is personalised to your needs. If you have personal issues, a certain aspect that you want to cover, or even an area that you need to improve on, your business coach will only be planning around you.
Rather than having others and a business coach keep you accountable, you will only have the business coach and yourself to keep you on track with your goals. Many believe that this is the way forward because you will get tailored help and all the focus will be on you and your goals.
Whereas, if you had others in the group, the attention towards your desires would be hindered. However, the social aspect and additional people to learn from will be a benefit.
There are advantages and disadvantages to each one; therefore, if you’re a small business owner or a successful business owner, YOU choose the coach that you think is best for you and your business.
How Much Do Business Coaches Charge?
Now that you have a better understanding of the different choices of business coaches you can choose from, understanding how much business coaches charge will help aid your decision.
Here, we will take a look at the prices you can expect to see from both group coaching and one-to-one coaching:
How Much Does Group Coaching Cost?
In regards to the prices of group coaching, you can expect to pay anywhere between £100 to £1000 a month. Compared to one-to-one coaching, group coaching is more affordable due to the more group setting.
However, there is still a range of skills you will learn and advantages you can expect from group coaching, such as:
- Accountability
- Leadership skills
- Support
- Increased confidence
Building relationships and understanding how to apply your knowledge in the correct way will have a great impact on your business’s performance.
Another main priority of these group coaching sessions is learning the essential business skills in order to create a profitable and sustainable business, long-term.
How Much Does One-to-One Coaching Cost?
As for one-to-one coaching prices, you’re looking at anywhere between £250 to over £1,000 a month, depending on the quality and expertise of the coach you choose to go with (some will be worth more than others).
One-to-one sessions will be personalised to what the coach believes you can improve on to increase the performance of your business’s results.
Identifying issues and strengths is an excellent trait of business coaches; therefore, your performance will increase massively thanks to the knowledge and expertise of the coach.
With it being a tailored plan to only your business, you don’t have to worry about others gaining attention from the business coach.
The cost of one-to-one coaching represents the amount of time and value you receive under the wing of a professional mentor who has spent years of their life building successful businesses.
Whether it is weekly calls or weekly meetups, there are no areas of business that a one-to-one coach will miss. But what can a one-to-one business coach help with? It’s simple; these coaches can help with:
- Improving your sales process
- Increase brand awareness
- Assist you with your marketing strategy
- Provide you with networking opportunities
- Improve your confidence
If you’re clever about the way you approach the one-to-one meetings, you will be asking relevant questions and making notes about the details you will need to implement in the future.
What Business Coach is Best for me?
Now that you have a better understanding of the different types of coaching and price ranges that you will experience, the decision is yours.
Whatever you think will be advantageous to your business the most, while keeping your business profitable and running effectively is the course of action you should take. Looking into your budget to see what is appropriate for your current income and future goals is what you must decide.
If you have a relatively large amount of disposable income, taking the leap with one-to-one coaching sessions will typically offer additional, personalised, detailed business advice.
However, there is no problem going ahead with business coaching group sessions. Remember, it is about what you feel is best for YOU.
Coaching Sessions With MOVE
Here at Move, we offer a wide range of coaching sessions, including group netwalking sessions or online meetings. Our netwalking sessions allow you to connect with like-minded individuals while networking at the same time.
If you have any questions about what may be best for your business, fill out the form below and we’ll get back to you as soon as possible!
Mark is a multi-award winner in business networking and relationship building. He is passionate about coaching and mentoring business owners and professionals through 1-1 & group coaching, team performance workshops and group mastermind sessions.