Some goals are nearly universal.
Unlocking creativity, advancing one’s career, and leading a healthier life are objectives many seek, regardless of the specifics. To address common goals and offer community and accountability, we can form group coaching programs around shared interests or desired outcomes.
If you’re new to group coaching and you’ve only ever created pricing for individuals, defining group rates may seem daunting. We’ll walk you through how to set group coaching prices and what to consider to determine the right rates.
Choosing payment styles for group sessions
Creating group rates is quite different from the pricing strategy for individual sessions. You don’t need to write multiple plans since you’re guiding several people at the same time.
Sometimes, organizations or employers pay for group coaching. But individuals might search for out-of-pocket group coaching opportunities to enhance accountability and community, or to enjoy the reduced cost of sharing a coaching program.
Here are a few pricing methods worth considering when setting your rates.
Even if you aren’t using individual rates on groups, you can charge per person for group sessions. If you charge per person, set a fixed rate per session and ensure everyone understands the rules about when and how to pay.
Consider a per-hour rate if you’re working with a company offering group coaching sessions to employees. This way, you won’t worry about how many people attend a session; you’ll earn the full rate no matter the participation.
That said, it’s important to set rules and foster an environment of respect, encouraging people to stay the course. If charging hourly, put a cap on how many people can be in each group. You’ll be able to deliver your best work, and clients won’t take advantage of the fixed hourly rate by sending too many people to a session.
If you’re implementing a long-term coaching program for a group with similar needs, consider charging for the entire course. Set limits on how many people can participate in the group coaching package and what the course entails regarding time and materials. Fixed start and end dates will help ensure customer retention, too.
How much to charge for group coaching
Suppose you’ve decided you’re most comfortable charging by the hour or want to offer multiple pricing options to your coaching clients. How will you determine the correct rate for each pricing structure? Here are the key variables to consider.
- How much you need to earn: We’re in the coaching business because we’re passionate about the work, but we need to pay the bills, too. Determine how much you need to make per session or month to cover both business and living expenses.
- Your expertise: If you’re particularly skilled at group coaching, your expertise might be worth more. But if you’re a seasoned one-on-one coach just starting to tackle group sessions, you might want to start with a lower figure until you gain experience.
- The market: Determine how much coaching is in your area and look at what other coaches charge for group sessions or how common certain price points seem. If you can’t find coaching figures, consider how much people in your target market pay to participate in other wellness services, like yoga classes.
- The level of work: Consider how much time you’ll put into the group coaching process, and include the prep work you do outside the sessions. You might be able to recycle materials from previous group coaching programs — but you might be investing hours into creating new coaching plans. Don’t forget to look at factors like your commute or required software, too. Account for any work that goes into planning or giving a session.
Before defining rates, it’s best to set some boundaries. Your rate might be on par with what you want to earn, but you still need to ensure it’s fair and won’t cause you to accidentally take on too many clients. Here are some boundaries worth considering.
- Set a cap: Limit how many people can attend your group coaching sessions. Think about the work you want to perform in this particular course and what feels comfortable. Putting too many people in a session may complicate activities or limit the time each group member can talk. And if you’re giving in-person sessions, consider how many people fit in the space comfortably.
- Limit your sessions: Remember when we said to consider prep work and your commute in rate projections? Consider it in your scheduling ones, too. Even if group sessions last an hour and you work an eight-hour day, you shouldn’t be trying to squeeze in eight groups. Consider lunch, breaks, prep, and location changes. Even if it means rejecting paying customers, save yourself the stress of being overbooked.
- Sign on the dotted line: Make contracts stipulating your course's rules and boundaries. Coaching is about mutual respect, so clients must understand best practices for payment and participation. When you establish clear boundaries, both sides get more out of the sessions. This will help you adjust expectations for each group member.
- Protect your compensation: Don’t set yourself up to be chasing down client payments — especially in a group. Practice package payment plans allow clients to purchase your services in installments, making it easier for them to manage remittances. You decide how to break up payments, when they’re due, and we handle the rest — including automatically charging clients’ on-file payment methods when the time comes.
You’re ready to launch
Now that you’ve established your rates, it’s time to launch your new group coaching services and undertake the rewarding work of helping clients reach shared goals.
Remember that you can shift your rates if you don’t get them right first try. Just don’t change them on customers already in the program. Good business owners adjust their rates as needed based on their services’ value and market movements.
If you require support organizing your new clients, you might enjoy using an improved customer relationship management system. Try Practice today.