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When considering spending your hard earned money on a training program it is only natural to think about several things:
1. Is it a career I want to do?
2. Can I afford the cost (investment) of the training?
3. Can I get trained quickly or in my free time?
4. Is the training comprehensive and professional?
5. What kind of income can I expect to earn?
Most of these questions are answered in other parts of this website, but that last question – what kind of income can I expect to earn – is the most important to many people.
What is the income potential of these professions?
Generally speaking, depending on the state in which you are working, your income potential is that of a professional counselor.
There are different ways to charge for your services in these professions but they generally have similar income potentials and are in fact inter-related. The two most common ways are:
1. Hourly (with Clients)
2. For an Entire Package (for a service)
Once a student receives training they are free to go out in the world and present themselves as professionals. A graduate could immediately implement their business plan to start seeing clients, join with others to form a wellness center, decide they want to be an author instead, or do nothing at all with their training. Their success and the direction they take for their lives and business is totally up to them.
Opening up one’s own business – a private practice, firm, wellness center, or becoming a consultant- is the goal of most students. They take courses to add to their knowledge in their current profession or they intend to open up a private practice – either full time or part time.
CEO Level Income Potential!
There is no guarantee what you will make even remotely. Everything depends on you – your personal abilities, motivation, skills, desire, and effort. But we can make some forecasts based on what people typically charge.
If you live in an urban area (a big city) you obviously can charge more that if you live in a small town – you must have clients who want what you are offering, who have the ability to afford it, who can somehow be reached to offer it to, and who can reach you to get it.
1. Therapist for Hypnosis typically charge from $50-100 per hour (for their TIME) in large urban areas. Typically, people offer a free phone consult or a free 1/2 hour consult making the first session 1 1/2 hrs (but still billed at $100).
Obviously if you live in an area where individuals do not have that kind of money – you could charge less – $35-55 per hour for example – but in general the going rate is about $100 per hour. (More about determining your price is in the training manual).
2. You can also charge your client per ‘package’ (for the OUTCOME), rather than by the hour. For instance, it is typical to charge $250-500 for smoking cessation. Whether it takes one hour or three does not matter – it is for an outcome that people pay.
This is typical of coaching, group work, working with businesses, or for a block of “prepaid sessions” – (say, 8 sessions for the price of 6 if prepaid).
This is also the business model if you are offering presentations or workshops. You can charge by the individual (admission price) or you can charge as a whole package price (for example doing a presentation for all the businesses employees for a set fee).
3. You can also charge a monthly ‘ retainer’ fee. This is typical in Coaching. You find clients, say for business coaching, and charge them – rather than by the hour or package- for your MONTHLY SERVICE. Your price is based on offering them monthly services (such a phone consults, unlimited e-mail support, in person meetings, advice, etc). In this business model you would then offer your services monthly to a relatively regular group. Your income is then fairly regular and based on the number of clients in your group.
4. There are numerous other ways to make money as a hypnotherapist, NLP Practitioner/Master, and as a Life or Business Coach. Here are only a few small examples:
sell products, write articles, give presentations, make CDs, online store, author books, host radio show, teach others, specialize and dominate an obscure market, etc.
Cost to become certified and Set up a Private Practice Generally:
Outside of the cost of Certification, you can set up a business for a few thousand dollars. But if you want to have strong training and set up you business correctly (mentoring & training, set up a good home-office, marketing materials, web site, etc.) and thus stand the best chance of future success, you would be prudent to budget at least $12 – 15K for direct expenses over the first year.
For all of these professions, indeed perhaps for any profession, 30% of the professionals do the lion’s share of the business. (These are practitioners that love what they do, are well trained and well marketed. Conversely, there are a lot of hobbyist coaches, and well-trained coaches, NLP practitioners, and hypnotherapists who did not pay attention to the business side, that are struggling.)
Income Potential example for a Certified Coach:
A successful full time life coach, coaching 20 individual clients a month at $350 per client, would gross $7000 per month. ($84,000 year)
If you work with 25 executive or entrepreneur clients at say $700 per month, you would gross $17,500 per month. ($210,000)
Overhead and expenses for a coaching practice are usually quite small, rarely over 15% of sales.
(Currently only about 15% of coaches earn over $100K per year.)
A recent study, commissioned by the ICF and conducted by Price Waterhouse Coopers involving some 5415 coaches around the world found that the average annual salary of a full time coach was just over $82,000. This study found the average income of a part time coach was just over $26,000.
In the end, what you achieve is up to you. Keep in mind that even if you have a full practice of say 25 – 30 clients, you will still have ample time to do other income generating activities that complement your coaching practice. Many coaches find workshops, writing and speaking as natural activities that both generate additional income and help build their coaching practices
Income Potential example for a Clinical Hypnotherapist or NLP Practitioner:
Although being a hypnotherapist or NLP Practitioner can provide a full-time income and in some cases can be highly rewarding financially, the majority of would-be hypnotherapists enter this profession for different reasons.
Many people reach a stage in their current career where the large salary no longer compensates for the politics, the commuting and the lack of enthusiasm for their role in a large company. Often referred to as a mid-life crisis, it should be more actually described as waking up to what really matters in the world.
Many people find that their jobs no longer get them leaping out of bed in the morning with excitement. Considering how much time we spend at work, it is vital that we spend our working hours doing something that does fire our interest.
This is why many hypnotists were previously in successful careers and had reached a fork in their career path. Helping someone to overcome pain. stop smoking, lose weight, recover a relationship, forgive and to lead a happy life full of promise is far more exciting and feels much more valuable than making a few bucks for their company or trading hour for dollars as their lives slip away.
There are 3 main ways that lay hypnotherapists or NLP Practitioners practice:
1. part-time
2. occasionally
3. full-time
Most part-time and occasional therapists have other income streams and are less likely to be concerned about dependence on their hypnotherapy income. But for those who decide that becoming a hypnotherapist or NLP Practitioner as a full-time and replacement career is for them, then we have the program in place to launch and drive their new career.
A successful full time Clinical Hypnotherapist or NLP Practitioner could earn:
Seeing 20 clients a week – 4 sessions a day/5 days a week- at $100 per client, would gross $8000 per month. ($96,000 year)
If you work with Smoking clients (or some other one time session business model) at $250 per session you could earn: $250 per session 3 sessions a day (each 2 hours) /5 days week – you would earn $750 per day/ $3750 per week/ $15,000 per month/ $180,000 a year is possible
Or, you could just decide to work part time (two days per week) seeing smoking clients – aim for 4 clients a day (totaling an 8 hr. day) and you’d earn: $1,000 a day/ $2,000 week/$8000/month/ $96,000 year
It really does pay to specialize and be able to be an authority in your field where your fees can reflect that expertise.
Currently only about 10% of Hypnotherapist earn over $100K per year. This has nothing to do with their skill level. It has everything to do with what they DO NOT know about growing a dynamic business.
Foolproof Step by Step Success is what Institute of Mind Sciences’ business model has designed into every stage. So… do not hesitate to join our training!
Benefits of IMS Trainings:
1. Tremendous Return on Investment; an established business with huge margins and low overhead costs
2. You’ll join a group of true professionals of high integrity devoted to and passionate about helping others enjoy personal growth and business success.
3. You’ll achieve your goals by helping others achieve theirs
4. You’ll find balance and fulfillment in your own life – and have control of your own schedule
5. You’ll have access to my outstanding business system of duplication and support
6. You’ll be entering an industry that is “exploding” in terms of need and demand.
7. Leverage Business Systems that allow you to instantly and successfully take your business in any direction you choose.
8. Very low initial investment.
