Life Coaching Business

How Profitable Is A Life Coaching Business? (Updated for 2024)

Pat Walls

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Updated: October 6th, 2024

How Profitable Is A Life Coaching Business? (Updated for 2024)

So you want to start a life coaching business?

And the first question that came to your mind was, “well, are life coaching businesses actually profitable?”

Especially considering:

You could start a life coaching business with as low as $200
Based on our data, life coaching businesses generate an average of $237K per year

There’s money to be made. Don’t worry.

But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a life coaching business.

Let’s dive in!

Is a life coaching business profitable?

Yes, a life coaching business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.

For instance, since average revenue is $237K per year with an estimated gross margin of 32%, you could expect to recover your investment within 8 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your life coaching business.

To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.

Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your life coaching business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a life coaching business worth it?

If you’re wondering if a life coaching business is worth it, the answer is a big YES. With life coaching businesses, you have the potential to earn $237K per year (this is based on data reported by real founders).

Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.

With a market size of $, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.

Of course, you must learn and understand every aspect of running a life coaching business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.

You might want to consider reading more specifics about successful life coaching businesses case studies.

Examples Of Profitable Life Coaching Businesses

Here are a few examples of profitable life coaching businesses, and a few more details about them:

1. Personal Growth Base ($120K/year)

came. One of the most important lessons I learned is that success doesn't happen overnight. It takes time, dedication, and consistency to build a successful business. Additionally, I learned the power of personal connections and the importance of over-delivering and providing value to customers.

Is it profitable? Yes
How much money it makes: $120K/year

How I Started A $10K/Month Personal Growth Advice Business

A 22-year-old entrepreneur from Vienna built a $10k/month personal growth business by executing ideas quickly and targeting needs, as well as delivering quality services and personal connections to his customers.

Read this case study

Read by 19,625 founders

2. Holistic Wellness Coaching Academy ($180K/year)

Brittney Oliver, founder of the Holistic Wellness Coaching Academy, came up with the idea for her business after discovering the connection between gut health and mental well-being. As a board-certified health and life coach, she wrote her first book and realized the need to share her knowledge with others. She then decided to create a certification program and launched her business with little startup funds, growing it into a six-figure business within two years.

Is it profitable? Yes
How much money it makes: $180K/year
How much did it cost to start: $2K

How I Started A $15K/Month Health And Wellness Coaching Business

A board-certified coach built the Holistic Wellness Coaching Academy from her book, growing it into a six-figure business in two short years, without using ads or campaigns, and attracting more leads with custom, digital content.

Read this case study

Read by 7,276 founders

3. Tobias Young Fitness ($600K/year)

Tobias Young, IFBB Pro and Online Fitness Coach, developed his online fitness coaching business after years of personal training experience. With a focus on helping business professionals and entrepreneurs transform their bodies and lifestyles, Tobias's program quickly grew to a multi 6-figure income with clients achieving impressive results, such as losing over 20 lbs of fat within the first 12 weeks. Through email marketing and social media outreach, Tobias attracts and retains customers while continuously improving his program. With plans to scale his business through paid advertising and a dedicated team, Tobias's future looks bright.

Is it profitable? Yes
How much money it makes: $600K/year

How I Started A $18K/Month Online Fitness Coaching Business

Tobias Young, an online fitness coach with over 20 years of industry experience, shares his journey of starting an online fitness coaching business that now generates a multi-six figure income and his tips for attracting and retaining customers through email marketing, social media, and identifying a target audience.

Read this case study

Read by 13,022 founders

Learn more about starting a life coaching business:

Where to start?

-> How much does it cost to start a life coaching business?
-> Pros and cons of a life coaching business

Need inspiration?

-> Other life coaching business success stories
-> Marketing ideas for a life coaching business
-> Life coaching business slogans
-> Life coaching business names
-> Life coaching business Instagram bios
-> Life coaching business Instagram captions

Other resources

-> Life coaching business tips
-> Blog post ideas for a life coaching business
-> Life coaching business quotes

How much can you make with a life coaching business?

With a life coaching business, you can make an average of $237K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $200. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 8 months.

How much does a life coaching business make a week?

Based on our data, average weekly revenue for a life coaching business ranges around $4.93K. As such, you could see monthly revenues of $19.7K.

To know if your life coaching business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.

Learning your weekly profit can also show whether you're hitting your target goal for your life coaching business.

How much do life coaching businesses owners make?

The income of a life coaching business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.

But to give you some idea, the weekly revenue of an established life coaching business is about $4.93K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.

While the potential for earning a good income as a life coaching business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.

Life Coaching Business Profit Margins

Generally speaking, a life coaching business can expect profit margin of around 32%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a life coaching business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.

However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, life coaching business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, life coaching business owners can ensure long-term sustainability and profitability for their business.

Life coaching business owner salary

The salary of a life coaching business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established life coaching business, in a prime position, might see an average weekly salary around the ballpark of $1.58K.

But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.

Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.

Conclusion

In a nutshell, based on many of our examples, a life coaching business may be a promising business to start - but the success of your life coaching business mostly depends on your effort and your approach.

If you focus on these, you'll have a much higher chance of a profitable life coaching business.

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Starting A Life Coaching Business: Everything You Need To Know

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