Money Coaching Business

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

Pat Walls

•

Updated: October 6th, 2024

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

So you want to start a money coaching business?

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

With a market size of $11.6B - there’s plenty of business to go around.

Especially considering:

You could start a money coaching business with as low as $4
Based on our data, money coaching businesses generate an average of $460K 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 money coaching business.

Let’s dive in!

Is a money coaching business profitable?

Yes, a money 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 $460K per year with an estimated gross margin of 90%, you could expect to recover your investment within 7 months or even less.

But of course, it all comes down to how much you earn compared to the potential revenues of your money 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 money coaching business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.

Is a money coaching business worth it?

If you’re wondering if a money coaching business is worth it, the answer is a big YES. With money coaching businesses, you have the potential to earn $460K 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 $11.6B, 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 money 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 money coaching businesses case studies.

Examples Of Profitable Money Coaching Businesses

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

1. Consulting Success ($2.88M/year)

Michael Zipursky, founder of Consulting Success®, came up with the idea for his business after running and selling several businesses with his cousin Sam. They wanted to create a business that allowed them to work from anywhere and have the freedom to travel. By sharing their expertise and providing valuable content, they built an audience that eventually requested a course and coaching program, leading to the launch of Consulting Success®.

Is it profitable? Yes
How much money it makes: $2.88M/year
How much did it cost to start: $1K

How These Cousins Started A $200K/Month Consultant Training And Coaching Business

Consulting Success® is a 7-figure, highly profitable business that offers courses and coaching programs for consultants looking to start or grow their consulting business, built through iterative content creation and audience validation.

Read this case study

Read by 9,378 founders

2. Busy Living Better ($62.4K/year)

Noah Riggs, the founder of Busy Living Better, came up with the idea for his business after realizing the potential of making money online through blogging. With a background in SEO and a desire to help others live their best lives, Noah started offering SEO consulting services and created a website focused on providing valuable content and resources. Through hard work and dedication, Noah has been able to attract and retain clients by mastering his skills and consistently providing value.

Is it profitable? Yes
How much money it makes: $62.4K/year
How much did it cost to start: $350

How I Started A $5K/Month SEO Consulting And Blogging Business

How Noah Riggs Started a $5k/month SEO Consulting and Blogging Business, using his past experiences to fuel his drive and learning new skills to grow his business, which now generates between $5,500 to $6,500 per month.

Read this case study

Read by 7,456 founders

3. Personal Profitability ($0/year)

Leaving his finance job in 2016, he transformed his passion for blogging into Narrow Bridge Media, a content empire generating over $200,000 annually by delivering educational finance material and scaling with a dedicated team.

Is it profitable? Yes
How much money it makes: $0/year
How much did it cost to start: $1K

I Left My Job In Finance & Built A $200K/Year Blog [About Finance]

This case study is about a finance expert who left his job to start a blog, which has become a six-figure business with high margins by writing articles for banks, investment companies, fintech startups, and other businesses.

Read this case study

Read by 5,127 founders

Learn more about starting a money coaching business:

Where to start?

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

Need inspiration?

-> Other money coaching business success stories

Other resources

How much can you make with a money coaching business?

With a money coaching business, you can make an average of $460K revenue per year (based on data reported by real businesses).

You can start with an initial investment as low as $4. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.

How much does a money coaching business make a week?

Based on our data, average weekly revenue for a money coaching business ranges around $9.58K. As such, you could see monthly revenues of $38.3K.

To know if your money 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 money coaching business.

How much do money coaching businesses owners make?

The income of a money 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 money coaching business is about $9.58K. 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 money 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.

Money Coaching Business Profit Margins

Generally speaking, a money coaching business can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a money 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, money 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, money coaching business owners can ensure long-term sustainability and profitability for their business.

Money coaching business owner salary

The salary of a money 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 money coaching business, in a prime position, might see an average weekly salary around the ballpark of $8.62K.

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 money coaching business may be a promising business to start - but the success of your money 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 money coaching business.

Add Text Section Add Story Add Idea Add Business Add Tool