How Much Does Business Coaching Cost?
The cost of business coaching can range depending on the type of business you have, the level your business is at, how much revenue it generates, how much revenue you want to generate, business size, and more. However, on average, costs can range from $200 to $10,000.
Read further to find out what your business should spend on business coaching based on where it currently stands and where you want it to go.
How much should I invest in a business coaching program?
You’ve done all the technical training, worked in a job for years, and you’re ready to go into your business for yourself, or maybe you’ve been running a business for years and are ready to scale and grow your business. Do you know how? Do you know how much you need to invest? Did you know you need training on how to run a business?
Determining how much to invest in business coaching and training depends on your business, goals, and current stage in your business journey.
So, when you ask how much my training budget should be for my business?
To be successful in business, there are two categories of knowledge and learning to focus on:
- There is the technical skill of your business or job.
- For example, a massage therapist must complete schooling to become a massage therapist. This education is necessary to learn how to do what you’re planning to offer as a business operator.
- Then there is the business component, learning how to own and operate a profitable business. Within this field, there are dozens of areas to learn and master, everything from time management to marketing to sales to leadership, let alone software and systems and processes.
Business coaching or training is the learning that you need to have a successful business. Your investment in education and how to run your business should equal the amount you invested in becoming a technical expert.
For Example, to become a Red Seal Electrician in Canada could cost you as much as $10,000. That means that your investment in learning how to run a profitable business should be at least $10,000.
Now, if your “technical” skills require a university degree, your investment in knowledge could easily exceed $25,000 and be as much as $75,000.
Initially, you will want to invest the same amount of money in your business education as you invested to earn your “technical skills”. That would cover some basic business knowledge. This can cost up to $15,000 per year on the low end, and on the high end, you will want to consider an initial investment of up to $50,000 or even $75,000 annually.
Group Coaching Programs:
How much do Group Business Coaching programs cost
If $15,000 seems too high to invest in your business right now, consider taking a group business coaching program. This is a great way to learn some of the basics of running a successful business.
Group coaching programs are often less than one-to-one coaching and can offer great value, especially if you’re new to coaching or business.
Investing in Business coaching as your business scales
As you grow your business, your reinvestment in yourself and your business knowledge will need to increase. Here are some reasonable guidelines to consider, early on as you grow from $0 revenue to $1,000,000.
Budgeting 3% of your revenue for business coaching is typical. Now, these training funds will start to move from you to your team. Depending on your industry, these funds should be allocated towards business knowledge, management training, safety training, etc. The good news is that as your revenue soars to $10,000,000 and beyond, the total revenue invested in training will drop to around 1% to 1.5%.
That said, there are other variables to consider in your budgeting, including industry, number of employees, and training opportunities.
More specifically, here are some things to consider
- Industry: high skill sectors e.g., tech, healthcare, spend more per employee versus low skill sectors.
- Goals: compliance training, safety regulations training is generally less expensive than management, sales or leadership development training, or technical upskilling
- Delivery method: in-house training costs compared to external workshops, learning subscriptions, customized training, or simply attending generic workshops and seminars.
To answer the question: how much does business coaching cost?
As you can tell, learning how to run, operate, and scale a business is important, and investing in these skills is just as important as investing in your training to open your business. As a general rule, you can use the following guidelines.
- Start Equal: Match your technical investment ($5,000–$75,000) for business skills initially.
- Scale with Revenue: Use 3% early, 2.5% mid-range, 1%–1.5% at scale, shifting from personal to team focus.
- Invest Wisely: Prioritize high-ROI areas (sales, leadership) and mix delivery methods for cost-efficiency.
