Kathy Stoddard Torrey started coaching five years ago, and she says in that time she’s struggled to make coaching a full-time job. “I’ve run across very few people who earn a living just coaching,” said Torrey, who supplements her own coaching income with consulting work and teaching. “It’s almost like athletes–there’s those few that are really, really rich and make it, and all the rest are trying to emulate that - but so many don’t.”

According to the ICF’s Global Coaching Study, conducted by PricewaterhouseCoopers, the profession has a high percentage of part-timers: “the results indicated that the profession currently attracts a high level of part-time professionals in this area (60.8%); the majority of the part-time coaches being female,” said the 2008 report.

The report did not address whether those part-timers wanted to work full-time or not.

What was clear was this: according to the study, the average coach has eleven active clients at any one time. (16 clients on average for full-time coaches and 7 for the part-timers) Full-time coaches also make far more–averaging $82,671 a year. Part-time coaches earn about $26,150.

For coaches like Kathy Stoddard Torrey, getting those additional clients–and the dollars–has been difficult. “It’s a little discouraging knowing people aren’t making a living just on coaching.”

Pat Williams has said that the emergence of social media gives coaches a huge opportunity to grow their businesses by reaching clients anywhere in the world.

“If you are thinking of adding coaching to your business or even transitioning full time into coaching as your career, consider this — there are many people who can afford coaching and see it as a valuable relationship in tough economic times,” said Williams. “As the ways in which we can communicate online become more common and available, so do the ways in which we can offer our services to and connect with our clients.”

Tracee Swank, a certified Christian ministry coach, works with pastors, ministry leaders and non-profit ministry groups, a coaching niche she’s focused on as her business has grown.

Swank says growing a coaching business into a full-time job comes slowly, but the time invested brings its own rewards. “Many of the clients I have been privileged to work with have come as referrals from contacts I have made,” said Swank. “Networking and building strong referral networks is a must if you want to coach full time. You need to spend time in front of people and with people. A slow time is not a time to go into hiding!”

Swank urges part-time coaches to build alliances with other professionals–including other coaches:

“For example, I have worked with an accountant on some of his professional business development goals as his coach. In turn he helped set up some improved bookkeeping procedures for my business. He was able to experience the impact the coaching process had in his own business and became a referral partner. I was able to get some expert input for my business. Bottom line – don’t overlook ways to be creative in sharing your coaching expertise. It may not always mean cash in your pocket but it could help your bottom line in the long run in a number of ways,” said Swank.

“I would also recommend looking for ways to build business alliances with other coaches that have different niche markets outside of your own. With the increased numbers of coaches many have developed niche markets and only work in those areas. When other client prospects come to them, they refer them on to other coaches. Build strategic relationships to be that other coach.”

To watch CoachReporter Mark Joyella’s (3 minute) interview with Coach Kathy Stoddard Torrey–and advice on growing a coaching business from Coach Dave Buck, click here:

CoachReporter: Growing a Coaching Business from Part-Time to Full-Time Job from Mark Joyella on Vimeo.