Should I Have A Refund Policy For A Coaching Program?

7 replies
I know that with most actual coaching programs (not pre-made ones that are really just information products) there is no refund policy since the mentor is investing their irreplaceable time in you. However, I have seen cases where they do have a refund policy, and I'm certain this brings in more sales for them; it's just, they risk losing their time AND their money this way. Can someone who is knowledgeable on the subject enlighten me as to the best course of action to take, and also how to increase conversions if I don't implement a refund policy? The only thing I can think of is to state the extreme value of the offer in relation to why I'm not offering refunds.
#coaching #policy #program #refund
  • Profile picture of the author R Hagel
    Here's a thread that touches on some of these issues, plus some unique ways coaches handle (or don't handle) refunds:

    http://www.warriorforum.com/main-int...oposition.html
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  • Profile picture of the author Josh Richardson
    At face value, if i was to coach people, i would not offer a money back guarantee.

    The reason for this is because , your students have to TAKE ACTION.

    Take action could be anything, but mainly, putting money into their business to make money.

    This scares a lot of new guys, and i wouldn't want to have to issue refunds by explaining things step by step, for them to then say "I'm not investing any more money - this sounds like a scam" ( over-hyped the response there, but you get it).

    A refund policy however would be a great thing to have, but clearly stating - "IF you follow the steps i tell you to, and your not making XXXX amount of money, i will issue you with a full refund". (backing up your claims = good)


    Obviously this would mean catching up with your students and stuff to make sure they are on the right track, but i think this would be time well spent anyway to build relationships.

    I dont know if i helped but it seemed to make sense for my point of view.
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  • Profile picture of the author E. Brian Rose
    If you hire a tutor for your kid and your kid still fails math, can you get a refund from the tutor?
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    Founder of JVZoo. All around good guy :)

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  • Profile picture of the author Michael Oksa
    I think a good solution is to start with a light version of your coaching for a lower price. Very low.

    The idea is that you can then upsell to the people who are happy, and give refunds to those who request them. Those who want to continue have an idea of what to expect and should be less likely to ask for a refund. While the few who do ask for refunds won't cause a financial strain on you.

    Just a thought.

    All the best,
    Michael
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    "Ich bin en fuego!"
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  • Profile picture of the author JD Nunes
    Oh yeah, I've seen the conditional refund policy before where you have to prove you tried, followed instructions, etc. Most people are too lazy to document things like that, so that could hurt sales too. I just need to find the best balance of getting more sales, but not risking my assets.

    This is quite amusing, I did a Google search for "coaching program refund policy" to research it and this thread was ranked #1 within minutes of its creation, hah!
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