How much does BOLDLY cost and what do I need to pay for coaching?
The BOLDLY fee structure is based on:
- Engagement listing fee ($59 USD)
- Coaching bundle (coach hourly rate x # of hours)
- Marketplace success fee (10% of coaching bundle)
In this post we share more about what you can expect to pay in a BOLDLY coaching engagement.
Engagement listing fee
BOLDLY charges a small listing fee before you can list your engagement within the marketplace and start shortlisting and communicating with coaches. This fee ensures only serious coaching engagements are listed, so coaches can feel confident that your engagement is real, and you have a reasonable commitment to moving forward with coaching. This payment can be made via credit card or invoice, and once paid it is not refundable, even if you choose not to move forward with coaching.
Coaching bundle (coach hourly rate x # of hours)
Hourly rate: BOLDLY is a global coach marketplace, and as such it reflects the free and open market for coaching rates in each of the local economies we deliver coaching to. For this reason, the hourly rates established by BOLDLY coaches are determined at the coaches' discretion, based on their skills, credentials, and knowledge of their local benchmarks.
E.g. A coach in Singapore may have an average hourly rate of $450 USD, while the same level of coach in the USA may charge $280 USD, and their industry colleague in Turkey charges $150 USD (these are examples only, not real market rates!).
Bundle: BOLDLY often gives recommended rate cards to coaches and clients alike so they can establish their expectations for a coaching "bundle". This coaching bundle will include the cost of the whole engagement, for example any assessment costs, the number of hours a coaching engagement is recommended for, and stakeholder meetings. For example, a coaching bundle may include:
- Assessment tool and debrief cost
- Coach hourly rate x coaching #hours
- 3 x 30 minute stakeholder meetings
When a client registers an engagement on BOLDLY, they input the expected bundle, and will search for coaches who fit within their budgeted hourly rate. Once a coach selection has been made, the client has the chance to adjust the bundle, as through the chemistry meetings with the successful coach, a more accurate recommendation can be made regarding the need for assessment and the number of coaching hours needed to make an impact on the coachee's development goals. The client will make a final agreement to define the bundle before signing off on the whole engagement cost.
You can of course choose to not move forward with coaching at this point, however we encourage you to give thorough feedback to any coaches you have conducted a chemistry meeting with.
If you proceed, you will be charged the coaching bundle + the marketplace fee, and again you can elect to pay via credit card or invoice.
Marketplace success fee (10% of coaching bundle)
Only upon searching for and confirming a successful coach, and confirming the bundle details, will the client be charged for the bundle + a 10% BOLDLY margin. This margin covers quality control, marketplace access, engagement resources for the coachee and stakeholders, meeting coordination, billing and other business services. Further details of our billing can be found in the Agreement between Your Company and BOLDLY on your engagement listing in the marketplace.
Why all coach rates and marketplace fees quoted in USD? As a global marketplace, we do this for the following reasons:
Global standard: We find that quoting coaching rates in USD provides a consistent reference point for our customers worldwide. Using this one currency in our search fields keeps simplicity at the heart of the marketplace. We find most coaches know their USD rate, in addition to their local currency, so this becomes a common language.
In some cases, we are able to invoice you in other currencies via the INVOICE option on our marketplace. You can reach out to accounts@boldly.app if you require assistance as a client with currency questions.
Please reach out to connect@boldly.app with all other questions.
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