Did you know life coaching is a billion-dollar industry? As of 2019, it was worth 2.8 billion dollars globally,
If you are a life coach and fairly good at your job, the opportunities are stimulating in terms of remunerations. Also, the financial future of the industry looks very promising.
Lately, people who want to succeed, professionally or personally, are eager to find a life coach who can assist them in achieving their goals.
There are tons of ways to make money as a life coach. We will list down several options available.
The opportunities we have listed cover both conventional and digital methods. The idea is to leverage both forums to maximize your income.
Without further ado, let’s dive in
1. Corporate Training
Globally, the corporate training industry estimated worth was 350 billion dollars in 2020, and it is projected to cross the 400 billion dollars mark by 2027.
The numbers are astounding. As a life coach, you are supposed to build relationships with corporates and deliver result-driven training.
It is a recurring opportunity. Many corporations have training programs on a regular basis where they invite a coach from outside to motivate their employees.
Also, you can deliver corporate training to multiple businesses. You are not required to commit to one corporation at a time by any law or regulations.
Seminars encapsulate life coaches ’ popularity where people buy a ticket to attend the program. The seminar’s cost can range from $300 to $1000 per ticket. It can be a one-day event or a three-day thing. Life coaches have the liberty to design and execute it as per their coaching style.
However, the seminars are supposed to have a life-changing impact on the attendees. Its success reaffirms the life coachs’ value and enables them to conduct more in the future.
3. Motivational Speaker
The motivational speaking industry made 1.9 billion dollars in 2019. By 2025, the industry is expected to reach 2.30 billion dollars.
You should think about taking a piece of the pie here. Motivational speakers are hired by many educational institutions, non-profit organizations, government agencies, etc.
In the beginning, many life coaches start by speaking for free at various events. Once they are popular, they begin to charge money and escalate prices with time.
Tony Robbins, a famous life coach, allegedly makes a million dollars for speaking at one event alone. Of course, there are years of effort and branding behind him.
An experienced life coach with great material can earn $10,000 to $100,000 per event for motivational speaking.
4. One-to-One Coaching
One-to-one coaching is basically when a person hires you exclusively for personal coaching. This type of coaching is highly goal-oriented. It starts with the aim of achieving a target by the end.
Life coaches can choose to have one to three sessions per week or maybe just four sittings every month. They can design the coaching as per the needs of their client.
The charges for one-to-one coaching vary from coach to coach, but you can make a handsome amount of money.
Some life coaches conduct group coachings as well, where they deal with 1 to 6 people simultaneously. The goal is to help each participant achieve their desired result.
5. Self-improvement Books
According to market research, the self-improvement books have 800 million dollar market value, and it is bound to grow in the coming years.
Life coaches can write books by translating their influencing power into words. Self-improvement books are evergreen. They are always prevalent and have an eager audience.
Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter is a classic example here. The book was released in 1997, and people still continue to read and learn from it.
You can also self-publish a book. Amazon has made it easy for authors. They have a service called Amazon KDP, which enables writers to publish their books independently.
6. Web Seminars
Web seminars are digital alternatives to traditional seminars. They became popular during the Covid-19 pandemic.
The most significant advantage of a web seminar is its cost-effectiveness. Since the setup is inexpensive, the participation fee is also lower, enabling more people to participate.
Web seminars are significant in terms of earning money as well as increasing your audience.
Ebooks can be the digital version of your hard copy. You can choose to skip the printing and publishing part entirely and go with the ebook only. You can sell your ebook on Amazon Kindle, Barnes and Noble Nook, or other e-reader platforms.
Many life coaches don’t involve any third party and directly sell ebooks from their website. People can buy and download the book and read it on their smartphones, tabs, and computers.
Audiobooks are gradually becoming popular among the masses. More than 24 million Americans listen to audiobooks. An audiobook is your book that is read out loud to the listener.
If you have published a book, it is good to convert it into an audiobook too. You can sell these on Amazon Audible or any other online marketplace.
9. Online Courses
There are many educational platforms available online like edX, Udemy, Allison, etc. They provide courses on a variety of topics to anyone.
These digital educational institutes are top-rated. People take different courses on them to increase knowledge and improve their personal and professional lives.
As a life coach, you can also compose a digital course and sell it on these platforms.
10. Membership Program
As a life coach, you can create a membership program on your website. People can subscribe to it for a monthly fee.
In terms of the content of the membership program, it usually encompasses videos, articles, audio notes, discussion forums, etc.
Again, you can design the program as per your taste. The only criterion is that it should uplift your paid subscribers.
Life coaching is a noble profession. You are genuinely helping people to become better versions of themselves. Fortunately, we live in a time where you can make a living out of it as well.
Life coaches can earn a lot as long as they are providing value to their audience. The avenues are ever increasing, thanks to our highly technology driven world.