Let me set the record straight: you NEED to have a niche if you’re a life coach and you actually want to make money. There are very few things I say you “need” to do in order to run a successful online business, and niching is one of them.
One of the things I tell my students in Uncage Your Business is that vagueness is not going to get you clients. Being specific about who your services are for and what you can do to help them drives people in — and that is what a niche will do for you.
Having that clarity will help you book clients, and finding your life coaching niche is the way to that clarity.
But which niches are the most profitable?
Do you have to coach other coaches to make money?
Or worse — does every life coach have to become a business coach in order to pay the bills?
Let’s find out.
Let’s clarify real quick: What is a niche?
I realize that there may be a lot of misconceptions about niching, so before we get started, let’s go over what it is and what it means.
A niche is NOT a demographic. It’s also not a list of your client’s hobbies and pastimes and book collections.
It doesn’t matter that you know your audience’s age, favorite TV shows, and how many kids they have- if you don’t know the specific problem they have that you can help them solve, then it’s NOT a niche. It’s just a group of people.
Do you see where we are going here? The ICA (Ideal Client Avatar) exercises are great for copywriting and branding, but they aren’t really helpful to you when trying to identify your niche.
Because typically these worksheets just focus on things like age, favorite books and hobbies, what kind of shoes they wear, yadda yadda yadda.
And I see my students often say things like, “I work with women ages 25-35 who have kids and who love dogs”
But until you link that to a specific problem that that group of people has, you don’t have a niche. You just have a random group of people (who might sound cool to hang out with, but who aren’t likely going to pay for your services)
Your niche is a problem that you solve in a specific topic area for a specific group of people.
Knowing who you serve is important, but finding your niche is about identifying the combination of who you help and what specific problem you help them solve.
The Most Profitable Life Coaching Niche
Okay, so now that you’re clear on what a niche is (and isn’t), and you’re ready to choose one (right??) — how do you know which niche is actually going to be profitable?
Suit up. You’re about to both hate and love this answer.
The most profitable life coaching niche is at the intersection of the mission and impact you are set out to create in the world AND the tangible bits in this area where people are actually struggling and looking for help with.
In other words – the niche that will make you money is the one that solves a strong pain point for the people you are most excited to work with.
Hold up Becca — Are you saying that any niche can be profitable?
Yes, yes I am. IF it solves a very clear pain point for people that they KNOW they have AND are looking for help with.
If I were to tell you that there is ONE niche that is the most profitable, or that you should choose X niche in order to make big bucks, I’d be going against my values and everything I believe in.
I don’t believe we should just pick an arbitrary niche to make money.
If you are becoming a coach, then there’s probably a deeper “why” behind your business.
Sure there are probably reasons that on the surface appear more “seflish” (working from home, spending more time at home with your dog, etc ), but I know there are also deeper reasons why you started your business.
I know that there is something that is pulling at you, something you feel called to help with.
Picking an arbitrary niche that doesn’t align with this deeper “why” will become lackluster REAL quick.
If you just pick something random, there will come a point when you’re not going to be invested or interested in the work that you’re doing, or the people you’re working with.
So instead of picking an arbitrary niche, let’s focus on those deeper reasons why you started your business and uncover your niche from there, and thenfigure out how to make it profitable.
Success is a CHOICE in your business — you pick something you resonate with and then you find the pain point that is strongest enough in that area. It may look slightly different than you expected. You will need to be open to shifting what you thought your business would be, in order to make sure it’s sellable. But EVERY niche can be extremely profitable as long as you’re solving a problem people want solved!
How I Help My Students Pick Their Life Coaching Niche
There’s no such thing as “picking” a niche. It feels and sounds arbitrary.
Like I said before, what I’ve found after working with 1000s of people is that there’s a bigger reason why you’re choosing to have a life coaching business.
Sometimes it’s as simple as asking yourself the “easy” questions that will lead you to your answer.
First, let’s remove that demographic and the group of people from the equation for a second and instead look at the topic area that your business focuses on.
So if you’re a life coach, why do you want to become a coach? What drove you to coaching in the first place? What is YOUR coaching journey?
These questions, although they appear easy, actually get to the bigger, deeper picture reasons why you started your business in the first place.
Maybe it’s that you saw people struggling with something and you felt called to go and create a solution to that problem.
Maybe it’s that you’ve seen specific people in your life facing a problem that you know you can help with.
Or perhaps it was you. Maybe you’re that specific person that was facing a problem or a challenge in life, coaching helped you work through it, and you want to help other people do the same.
Ask yourself these simple questions about WHY you got into this business in the first place and what problem you set out to change in the world — and THAT is likely the answer to your niching dilemma!
This is what I do with my students in Uncage Your Business. We start with this “big picture” message and then slowly get more narrow until we arrive at the niche that is best for you (and then teach you how to talk about it so clearly that people start sending you referrals right away)
You’ll find that versus “picking” a niche arbitrarily based on what some random blog post tells you will be most profitable, what you’re actually doing is you’re finding your niche based on who you are, your story, your expertise, and your passion – and then you make sure that it will be profitable by doing market research to ensure that the pain point that your niche helps with is a pain point that people have, and want to solve, and learning how to market to them in clear, effective ways.
Voila — a profitable niche!
Life Coaching Niches: A Common Misconception
Niching is scary, right? There’s a common misconception that niching your business will create less opportunities or will pigeonhole you in the future and limit your business..
This couldn’t be further from the truth.
And most of our students don’t believe me until they experience it, but the opposite of this is true.
Because niching isn’t about picking a specific demographic or group of people, it’s about picking a specific problem to help with.
When you choose a problem, you’re able to help a broader range of people (for example, I bet some of you reading this are in your 40s and married with kids and love lazy weekends with Netflix and your pup curled up next to you, and others are in your 20s and want to be location independent and love to hike and camp and sleep on mountaintops — wouldn’t it be a shame if I only had to choose ONE of you to work with??).
And more specifically, you’re being clear about what exactly you help people do or what problem you will help them solve – and the more clear you are, the MORE clients come to you!
For example: I bet some of you reading this are in your 40s and married with kids and love lazy weekends with Netflix and your pup curled up next to you, and others are in your 20s and want to be location independent and love to hike and camp and sleep on mountaintops. The commonality is that you ALL want to create a business that lets you live YOUR version of your uncaged life. And wouldn’t it be a shame if I only had to choose ONE of you to work with because you are different kinds of people?? I can tell you, it would be.
On the other hand, if you’re vague about what you do, and you try to help EVERYONE, you’re not going to book clients. Instead, you’ll end up sending out generic messages and marketing, and NO ONE (not even the people you want to help) will know what you do (and thus no one will hire you).
As much as I hate clichés, the riches are, in fact, in the niches (which really only rhymes if you say “niche” like “nitch”, which I actually don’t)
Here’s How You Can Have a Profitable Life Coaching Business
I’ve worked with 1000+ students in Uncage Your Business.
I’ve seen coaches make a shit ton of money in a wide range of niches: in relationship coaching, health coaching, focusing on personal development, or even healing work combined with coaching in career, in business, or in life in general.
And I know that all of these niches can be equally profitable.
You can make just as much money coaching business owners, as you can coaching women who struggle with not speaking up and setting boundaries — promise!
It’s the strength of the problem and the clarity in which you communicate it that makes a profitable niche!
And despite what all the click-baity posts about “the most profitable niches” want you to believe, it ALSO takes persistence and consistency- continuing to put one foot in front of the other and marketing your business using your clear messaging.
It takes rolling with the punches, and staying open to the changes that you might need to make as your experience grows and your business (inevitably) changes.
Success doesn’t happen overnight and even the most profitable niche takes work..
In summary, if you want to make a crap ton of money as a life coach:
- Get clear on your WHY
- Pair it with a specific and clear PROBLEM that real people have
- Learn how to talk to them about that problem and articulate how you can help
- Keep putting one foot in front of the other until you are profitable
Building a successful business is a choice, and it takes more than just “picking” an arbitrary niche and crossing your fingers.
Need some extra help finding your best niche? No worries, I’ve got your back!
Check out my FREE niching guide.
In this guide, you won’t get the usual Ideal Client Avatar exercises, promise (I hate those too). You’ll get down to the core of your niche, fast. No fluff. No needing to decide what kind of shoes your client wears
Let’s nail the niche that will make YOUR business profitable and feel FUN to run.
Because despite what it may seem or feel like right now, you absolutely can have the uncaged biz of your dreams. Promise.
PS. If you’re ready to find YOUR profitable niche and start getting those clients, then come check out my Uncage Your Business Program. It was designed specifically for you, new-ish business owners (coaches, consultants, healers, & service providers), to not only help you get clear on your niche, but also build a solid, strong foundation for your business that will help you get clients!
- Spiritual Coach. ...
- Meditation coach. ...
- Reiki Coach. ...
- Mystic coach. ...
- Zen coach. ...
- Rebirthing coach. ...
- Manifestation coach. ...
- Soul Coach.
- Be Willing to Adapt. Working on the analogy of a picture paints a thousand words. ...
- Take Your Time. “You discover your niche; you don't choose it” —Tad Hargrave. ...
- Bring Value. Once the seemingly disparate dots joined up, everything made perfect sense. ...
- Next Steps.
Questions Clients Ask About This Industry
The market size, measured by revenue, of the Life Coaches industry is $1.4bn in 2022. What is the growth rate of the Life Coaches industry in the US in 2022? The market size of the Life Coaches industry is expected to increase 0.1% in 2022.
- Digital marketing.
- Blogging and making money online.
- Health and fitness.
- Personal finance and investing.
- Recipes and food.
- Personal development and self-care.
- Dietary Supplements. ...
- Diets & Weight Loss. ...
- Dental health. ...
- Survival. ...
- Women's Health. ...
- Spirituality, New Age, and Alternative Beliefs. ...
- Marriage & Relationships. ...
- Green Products & Alternative Energy.
Cost of Life Coaching
The typical range for personal life coaching is from $75 to $200 per hour, with an average cost of $120 per hour. Many coaches offer packages, such as $300 per month for four 30 minute sessions.
- Put Yourself on a Stage.
- Rub Shoulders at Relevant Events.
- Woo Potential Clients on the Phone.
- Enlist Friends and Family as Wingmen.
- Tap into Your Business Network.
#1 Tell Your Personal Network What You're Doing
Your existing network is perhaps the best way to get your first coaching clients fast. It's very likely that you know people in the exact niche that you desire to help. If you don't know people in the niche, your friends, family or colleagues definitely will.
As mentioned earlier, life coaches charge rates similar to other helping professionals. Most life coaches charge somewhere between $75 and $200 per hour. However, you can find coaches who fall outside of that range.
Full-time coaches had an average of 21.8 clients, who typically stayed with them for 6-12 months (43.4%). Part-time coaches had an average of 5.5 clients, who typically stayed with them for 3-6 months (41.6%).
Anthony Robbins is perhaps the most famous American author, coach, and speaker in the world today. His seminars have impacted over 50 million people from 80 countries and have been turned into a Netflix documentary film called I Am Not Your Guru.
Best Selling Niches In 2021
Fashion is the most common category sold online, but electronics, books, homewares, and arts and crafts are also extremely popular. Due to the pandemic, some trending products in 2020 included masks, home exercise equipment, and board games.
- Technology. With the new and emerging technology trends, billions of people love reading tech blogs. ...
- Health and Wellness. ...
- Career Advice. ...
- Education. ...
- Food. ...
- 6. Entertainment. ...
- Gaming. ...
- Finance and Investment.
- Real Estate.
- Gadgets And Technology.
- Pet products. Ever since dogs and cats dominate the internet, no one can doubt how much we love our furry friends. ...
- Subscription. ...
- Home office equipment. ...
- ReCommerce. ...
- Eco-friendly products. ...
- Health & Wellness products. ...
- Educational toys. ...
- Online course.
Relationship Driven Approach. Effective coaching stand on the tripod of trust, bond and strong relation. You can expect 2021, to continue the coaching trend of building authentic and meaningful relationships.
The answer is a resounding YES. You can make lots, actually. The International Coach Federation (ICF) reports that the average hourly pay rate for coaches is $235/hour.
It is expected the market value to reach $20 billion by 2022 with a 6.7% average yearly growth rate from 2019 to 2022. Moreover, according to PwC, the Coaching Industry was the second fastest growing sector in the world. It is estimated that there are currently 5,86,292 coaches worldwide in 2019.
There are over 3,597 life coaches currently employed in the United States. 67.5% of all life coaches are women, while 32.5% are men. The average age of an employed life coach is 34 years old.
Life coaches need to be approachable, personable, friendly and helpful. They should be enthusiastic, empathic and have a sense of humour and patience. Possessing these qualities are important in helping coaches to gain new customers, but also new business contacts.
The child's personal and social skills are referred to as the 5 Cs (competence; confidence; connection; character and caring; and creativity). Sport and coaching can be a tool to support positive youth development.
The 3Ps: Project, Person, Pattern
Keeping the 3Ps in mind when you're coaching will help you narrow in on development opportunities.
The 4 C's have been inspired by Jean Cote and Wade Gilbert's research into effective sports coaching where they found coaches play a role in influencing their players Competence, Confidence, Characterand Connectedness – The 4 C's.
Life coach rates per hour
Life coaches who charge by the hour typically range from $75 to $250 per session.
When the ICF says the average life coach works 12 hours per week, they're talking about session hours. But of course, there's always more to the story! Further on in this article, we'll break down how most coaches actually spend their time, both in and outside of client sessions.
Coaching Sessions of Moderate Length (30-60 minutes)
Several reasons make such sessions popular. First, the attention span of most people cannot be sustained beyond this length of time, so that session takes full advantage of this window before the client becomes exhausted and his or her attention starts drifting away.
The Average Number of Clients a Personal Trainer Should Have
According to our research, the average personal trainer will have anywhere between 15 and 25 clients.
While it's not necessary to obtain a credential to start a career as a life coach, if you are going to participate in a certification program, it may be helpful to choose one that is approved by an industry-recognized certifying body, either ICF or NBHWC, in case you decide to pursue the formal credential in the future ...
People who seek assistance from a coach are stumbling in one or more areas of life or just want to improve. These areas are things such as marriage, entrepreneurship, spirituality, health, and self-development. Perhaps your social life is wanting and you want to find your soulmate.
- Don't let the fear of a crowded marketplace deter you from starting your business. ...
- Know yourself. ...
- Know how to effectively communicate your value. ...
- Show up consistently.
Coach products typically attract premium customers, aspirational luxury shoppers, or designer wannabes looking to step into the luxury market. Coach also appeals to shoppers that splurge on the occasional luxury purchase. The company also has a market in HENRYs, an acronym for high-earners, not rich yet.
What percentage of life coaches are successful? Only 10% of life coaches are successful because it is estimated that over 90% of coaches who are just starting off fail because they do not have a niche.
While the global average life coach annual revenue is $47,100/year, North American life coaches earn the most annual coaching revenue, at $62,500/year. Oceanian life coaches follow with $61,100/year, and life coaches in Western Europe are in third with $51,100/year.
- Choose your life coaching niche.
- Understand your life coaching clients.
- Craft an offer.
- Create a marketing plan.
- Have your legal contracts in place.
- Get your first life coaching client.
- Scale your life coaching business.
However, the average salary range for a life coach is $40,000 – $100,000 per year. So you can make a great living as a life coach, and many coaches are earning six-figure incomes (and more) successfully.
The International Coaching Federation says the number of coaches estimated worldwide has grown by 33%, from 53,300 to 71,000, since 2015. And the field will continue to expand, according to the BLS, which projects job growth of 10% through 2031, higher than the national average for all careers.
Licensed clinicians are taught and even legally required to not have dual relationships with their clients; this means that you cannot be a "friend" with a therapy client. In small or rural communities you may know your client through other social or business settings, but confidentiality must prevail.
Still, the life coaching industry is thriving. Life coaching is part of the $2.85 billion global industry of professional coaches, according to ICF. Beyond life coaching, there's also executive, career, leadership and even nutrition coaching.
In terms of growth, life coaching is the second fastest growing industry in the US (just behind IT, of course!), and it's seeing increased demand in all 50 states. According to the ICF, there were 23,300 coaching practitioners on North America's books as of 2020.
- Artisanal Pet Food. Pets aren't just our faithful companions—they're big business, too. ...
- Alternative Milk. Veganism as a whole is something of a hot topic. ...
- High-End Home Coffee Products. Coffee isn't exactly the most original niche. ...
- Golf Equipment. ...
- Home Gym Equipment. ...
- Home Office Equipment. ...
- Kitchen Appliances.
- Identify your interests. Knowing your interests is a crucial step. ...
- Identify problems you can solve. ...
- Focus on individuals. ...
- Experiment. ...
- Gather feedback. ...
- Forget about making money at the beginning. ...
- Look at competitors. ...
- Find your unique selling point.
- Medical Professionals (Doctors and Surgeons) Healthcare offers one of the highest salary jobs in India. ...
- Data Scientist. ...
- Machine Learning Experts. ...
- Blockchain Developer. ...
- Full Stack Software Developer. ...
- Product Management. ...
- Management Consultant. ...
- Investment Banker.
There are many profitable products you can sell, including the following:
- Beauty products and cosmetics.
- TV and smartphone accessories.
- Designer sunglasses.
- Children's toys and games.
- Video games.
- Pet supplies.
- Think about your interests and passions.
- Solve problems for your audience.
- Carry out competitor analysis.
- Do keyword research.
- Assess your niche.
- Find your unique selling point.
- Test your idea.
As of July 2022, 600 million smartphones were sold across India, making it one of the most demanded products in India. Rising disposable income, cheaper internet, and the need to always stay connected with each other have driven the smartphone market in India.
- Traveling. The travel industry is one of the world's largest industries. ...
- Beauty. ...
- Fashion. ...
- Health and Fitness. ...
- Lifestyle. ...
- Parenting. ...
- Business. ...