So what’s my say on the question “Is Online coaching profitable?
Well, my answer is Yes, online coaching is really lucrative and I can say in all confidence that many online coaches make multiple 5-6 figures on a monthly basis. It’s so amazing how all you need to share is a proven step process for getting results and that’s it.
This business model is so fascinating as you’ll be earning a killing from simply helping people achieve results. There are several types of coaches, think of a valuable skill and I can assure you that there’s a coach for it.
From productivity coaches to sleeping coaches and the list goes on and on.
So Why is online coaching so profitable?
Depending on the niche or skill in question, people are willing to pay a killing to get a proven step process that actually works.
Coaching is really profitable for the following reasons:
- The Value:
Depending on the coaching model, Coaches will have to trade their time for money, making the skill a lot more valuable to the client.
- It saves the client their time:
Instead of having to test and try for what works, coaching allows clients to get an exact blueprint that’ll yield results.
- Most coaching skills solve an actual problem:
A rule of thumb is, simply to solve a client’s problem and the money with come running to you.
How do people make money with online coaching?
1. One-on-One Coaching
This is the most common coaching business model and the easiest to start with.
You simply find someone who’s interested in your service, get them to pay you, and offer your coaching knowledge over live calls and with some resources as well.
You have the luxury of charging a high ticket with the one-on-one coaching model since you’d be dedicating all your time and effort to getting results for one client at a time.
2. Group Coaching
This is the hybrid version of one on one coaching, where you group together similar clients with similar goals for your program and take them on coaching sessions together.
This model is highly profitable as you’ll still get to charge high prices for your time while tackling more than one client at a time.
Imagine running a program costing $1500 and getting paid that amount by 10 people per month.
Answer for yourself “Is online coaching profitable?
3. Courses
I’d be plain with you, online courses cost way less than one on one or group Coaching but that’s for an obvious reason.
With online courses, you just have to do the work once and that course keeps on earning you money as long as people keep buying from you
4. Memberships
This model is really quite similar to the group coaching model, but only with a twist.
Membership sites tend to accommodate a lot more people than a group Coaching program and are also a lot cheaper than group Coaching programs but the magical thing about them is their recurring nature, when people pay to be a part of your membership site, they literally pay you on a monthly or yearly basis to be part of your membership.
5. Digital products
Another way you can monetize your coaching business is by using digital products.
During your coaching sessions, you could make references to your other books and courses which might not be deeply related to the topic in question but are significant still.
There are several types of digital products to try out, some of which include:
- eBooks
- Templates
- Checklists
Pros of Online Coaching
There are definitely so many perks to online coaching and some of them include:
- It’s free to get started
Unlike other online businesses that require a huge start-up cost to get started, With just a signature program and a marketing strategy, you’ll be well set up for success as an online coach.
To be successful as an online coach, you’re going to need strategies and systems in place to launch profitably.
- It’s really lucrative
- You’re literally helping people and getting paid in return.
Cons of Online Coaching
- It’s not an overnight journey
I personally think this is the only downside to starting an online Coaching business.
On average, it’ll take a new Coaching business 3-6 months to start seeing any significant results but to those that stay consistent with the right strategies, making money as an online coach is definitely possible.
How to start an online Coaching business
For every client I help launch a new coaching business, there are basically 3 major steps I work each of them through.
- Idea Validation:
Don’t ever launch a coaching business without proper market research and validation. You need to ensure that your coaching business idea has a market and a viable one at that.
- Signature Curriculum Planning
Once you’re certain that you’re in a viable niche with potential buyers, it’s time to plan your program.
What replicable step process do you have for getting client results over, and over again.
Lay that out and structure your idea into a solid signature program.
- Marketing strategy
Contrary to the famous quote, build it and they’ll come, in the online world you need a strategy in place to get the word out about your coaching business and that’s where this phase comes to play.
Some marketing strategies are a lot easier to execute for coaching businesses than others, you’d need to choose whatever works best for your industry.
Conclusion
I really hope this post gives you an overview of the profit potential of coaching businesses.
Do you want to launch a profitable online Coaching business,
Work 1:1 with me to enjoy professional Done-for-you services to help you to launch a successful coaching business from scratch.
BossCoach 
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