I'm trying to understand the coaching industry and where it's headed (specifically life coaching and career coaching) in service of creating my own platform for people to connect with coaches.
Hello! Thank you for your inquiry regarding the self-improvement, life coach and business coach industry in the US. In short, the life coaching industry in the US is the second fastest growth industry. North America accounts for 40.6% of the global market share. There are approximately 17,500 life coaches in North America where the market brings in an estimated $995 million annually. The US self-improvement industry sales are estimated to be $11 billion. The self-improvement market is expected to grow 5.5% each year.
Below you will find a deep dive of my findings.
To research your request, I searched through academic databases, corporate websites, industry reports, and trusted media sites to familiarize myself with the industry. Next, I compiled the results of my findings to illustrate the market landscape of the coaching and self-improvement industry including books and religious leaders as stated in your related content to include summary under the "how could this request be misinterpreted" header.
US SELF IMPROVEMENT INDUSTRY
The US self-improvement industry sales are estimated to be $11 billion. This industry includes books and audio books, holistic institutes, stress management programs, infomercials, motivational speakers, websites, personal coaching, online education, seminars and weight loss. The self-improvement market is expected to grow 5.5% each year.
The self-help book industry had an estimated $776 million in US sales along with audio books that were delivered to 24 million Americans totaling $455 million.
Live training seminars are estimated to be between $400-$500 million annually. The new trend of Webinars is becoming more popular, offering lower cost and more availability.
There are several package programs that are offering self-help in new formats such as video, audio, and over the internet. Coaching is now being made available over the phone from motivational speakers that offer webinars and teleseminars.
Religion-based counseling is also a large industry. The American Association of Christian Counselors has nearly 50,000 members. Members in the AACC, are pastors, clinicians, physicians and what they consider a lay helper. The AACC helps its members stay aware of current trends and counseling issues to help increase the counselors’ effectiveness.
In 2016 a Global Coaching Study revealed that there were approximately 53,300 coaches globally. The global coaching industry is estimated at $2.35 billion annually. The North American market represents 40.6% of the global share, up 35.2% from 2011-2015, and earned an estimated $995 million. In 2016, there were an estimated 17,500 life coach practitioners in North America. Also, there were approximately 3,100 managers / leaders in North America using life coaches. The coaching continuum was 20,600.
Of the coaches in North America, 92% stated they currently have active clients. In North America, an estimated 73% of the coaches and 76% of the managers/ leaders using life coaches are female. This is the highest percentage worldwide.
This study showed the average annual income in North America from the coaching industry is $61,900. The second fastest growing industry in the United States is life coaching.
The life coaching industry is broken down into several categories including business coaching earning on average $235 per hour, executive coaching earning on average $325 per hour, health coaching, relationship coaching, career coaching and personal coaching earning on average $20-$125 per hour. The overall average for the life coaching industry is $229 per hour.
KEY FEATURES OF WORKING IN THE COACHING INDUSTRY
• You get to work for yourself.
• You can help make a difference in someone’s life.
• There is a great potential for high income as the average coach
makes $229 per hour.
• There are no requirements regarding certification. If you do
want to earn a certificate, there are several schools to choose
from, the average costing between $5,000-$10,000.
At Columbia, the coaching certificate program costs over
KEY DISADVANTAGES OF WORKING IN THE COACHING INDUSTRY
• You have major responsibilities both to your success and your
• You lose the privilege of personal time because you must put the
clients first to be successful.
• It requires extreme patience to be in the coaching industry.
• When starting out it is difficult to find clients due to the fact
most new clients referrals from satisfied clients.
OTHER RESULTS AND CASE STUDIES
According to a study, “coaching resulted in an ROI of almost six times the program cost.” There was also an increase of 77% in relationship improvements, 67% in teamwork improvements, a 61% increase in job satisfaction and a 48% overall improvements in quality.
The study of Fortune 500 telecommunications companies showed a 539% ROI resulted from executive coaching.
Milana Leshinsky is a coach based in Pennsylvania. She stated, “There are definitely very successful coaches out there and there are definitely broke coaches, too. I’ve met many coaches who do not get results with clients and who should not be coaches, yet they have been trained and certified because somebody told them that coaching is lucrative.”
Some Life coaches are finding it hard to find clients. One coach claims, “that being on the front page of Google brings in 3 or 4 inquiries irregularly and 50% of those inquiries are either time wasters or people who need therapy as opposed to coaching”.
In conclusion, the life coaching industry in the US is the second fastest growth industry. North America accounts for 40.6% of the global market share. There are approximately 17,500 life coaches in North America where the market brings in an estimated $995 million annually. The US self-improvement industry sales are estimated to be $11 billion. The self-improvement market is expected to grow 5.5% each year.
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