Have to admit that 2023 was all about the economic downturn and loss of job security. With that said many people have begun to search for a side business to start and consulting has turned up as a popular choice for those people. It’s a fact that more and more companies rely on consulting services since they offer expertise and solutions in marketing, finance, technology, or any other field which leads us to believe that the market size for this industry will definitely reach US$ 494.57 billion by 2027. So, if you are one of those people with expertise in different areas that we’ve mentioned above we have to let you know that there are countless consulting business ideas that you can explore to build a successful and rewarding career as a consultant.
Top 17 consulting business ideas
Here are some creative and profitable consulting business ideas that you can start right away:
Business startup consultant
Business startup consultant involves advising new entrepreneurs on effectively establishing successful companies through services like crafting business plans, structuring operations, strategizing executable growth milestones, or guiding practical launch momentums following proven methodologies suiting funded scales adaptively. Trusted startup consultancies enable founders to focus energy on developing differentiated offerings rather than getting immersed in building auxiliary functions initially beyond core competencies at foundational stages still mutable ongoing.
Collaborative sessions audit and elevate goal-specific processes from raising capital to securing essential partnerships through personalized coaching buoying strategic decisions amid uncertainties commonplace facing pioneers charting hidden industry niche territory favored increasingly among divergent thinkers seeking purposeful work-life autonomy beneficially.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Social media consultant
Social media consultant involves advising brands, organizations, and individuals on effectively attracting organic visibility and thriving engagement across social media platforms through tailored content and activity strategies suiting current follower bases wanting cultivation moving forward. As channel options and algorithmic intricacies complexify audience signaling cues beyond basic instinctive posting tendencies prone to ineffective solo long-term, methodical consultants inject proven expertise launching respondable outreach systems growing reach and brand equity authentically over time through nurturing community trust earned increasingly.
Whether safeguarding reputations against risk through mindfulness principles integration or pioneering innovative hashtag challenges focused on positivity projections strategically, specialized social consciousness combined with technical fluency sets consultants apart from commoditizing mass automation otherwise.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Business plan consultant
A business plan consultant provides professional guidance to entrepreneurs on researching, structuring, and writing effective business plans conveniently. As new ventures undertake planning intricately, external insight helps objectively evaluate assumptions validating true market viability confidently. An independent consultant first demonstrates organized analysis abilities through structural plan examples and risk calculation expertise cost-effectively.
Over time, focusing core vertical competency around specific industries earns niche influence attractively whereas generalist visibility remains competitive relatively. Overall, occasional business plan consulting mastery injects reliable direction through customized report deliverables documenting objectives, opportunities, and execution timelines via best practices conveniently.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Legal consultant
A legal consultant first demonstrates jurisdictional knowledgeability assisting with routine incorporation filings before assessing additional specialty focuses like contract drafting or litigation preparation over time. Establishing niche expertise around practice areas earns referrals attractively where general visibility remains competitive unreliably.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Translation consultant
A translation consultant business offers professional human translation or interpretation services bridging critical communications for clients across language barriers conveniently. As global business interactions grow more multifaceted intrinsically, nuanced human fluency and cultural expertise help messages resonate positively amid diverse audiences internationally.
An independent linguist first demonstrates adaptive proficiencies assisting basic document translations before assessing additional verbal focuses like conference interpreting or voiceover services attractively over time. Establishing area specialties around technical, legal, medical or creative writing sectors earns referrals reliably where generalist visibility remains competitive unreliably.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Marketing consultant
A marketing consultant business provides professional guidance helping clients attract optimal consumer attention and engagement growth conveniently. As competition intensifies, objective marketing audits identify effective brand messaging opportunities and media investments maximizing exposure confidently.
An independent consultant first demonstrates analytical abilities optimizing basic search engine rankings or social media content cost-effectively. Over time, focusing core vertical competencies around specific tactics like SEO, email marketing or video earns niche influence attractively where generalist visibility remains competitive unreliably.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
E-commerce implementation consultant
First, an independent expert demonstrates web development abilities guiding basic online catalog and checkout functionality using shop templates cost-effectively. Long term, focusing niche skills on customizable storefront design, payment integration, order fulfillment, or customer experience earns influence attractively where one-size-fits-all providers lag behind competitively.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Graphic design consultant
A graphic design consultant provides professional visual communication guidance around logos, branding, packaging, marketing materials, and more to refine client brand imaging conveniently. As visual content grows more crucial for consumer sentiment yet navigating options stays complex intrinsically, independent creative direction objectively helps inspire aesthetic components that resonate optimally across target audiences confidently.
A design consultant first demonstrates the artistic range in core materials like stationery before assessing additional services around digital or environmental graphics attractively over time. Establishing niche aesthetic competency builds exclusive influence reliably where versatile branding agencies lag behind competitively.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Sales funnel consultant
A sales funnel consultant provides professional guidance around designing and optimizing sequenced customer conversion processes conveniently from initial awareness stages toward purchase decisions and loyalty intrinsically. As sales processes grow more multifaceted amid diversifying product complexity and digital consumer touchpoints, funnel visibility analysis backed by data insights identifies optimization opportunities confidently.
An independent consultant first demonstrates analytical abilities assessing basic website traffic trends and top conversion path patterns cost-effectively. Over time, focusing core vertical competency around specific channels like email nurturing, social advertising or SMS earns niche influence attractively where generalist perspectives lag reliably.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
IT consultant
IT consultant provide professional advisory services to assist organizations and individuals on selecting, managing, and maximizing technologies related to computers, networks, cloud platforms, cybersecurity, software, etc. IT consultants conduct detailed assessments pinpointing client pain points across people, processes, and existing tools. Tailored recommendations follow leveraging years of expertise in determining ideal solutions fitting unique constraints. Consultants guide methodical implementations, and data migrations smoothly while training staff usage capitalizing investments fully over the long term.
For many SMBs lacking robust IT departments internally, outsourced guidance charts clearer pathways to adopting essential infrastructure, services, and emerging capabilities confidently without overspending on hazards or underperforming implementations risking operations themselves. Even larger firms facing dynamic expansion or workflow innovations hire expert consultants providing independent audits ensuring trusted solutions suitably.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Financial consultant
Financial consultant provide clients with professional advisory services for optimizing financial health long-term through money management, investment portfolio analysis, retirement planning, tax strategy, and customized guidance tailored to individual goals and risk tolerances. Financial consultants help construct personalized financial plans establishing smart saving/spending balances while accounting for unique circumstances ultimately funding livelihoods securely. Ongoing relationships reinforce accountability through quarterly progress check-ins and portfolio tuning as market conditions shift.
For many citizens lacking the know-how to navigate convoluted products themselves, accessible financial consultants supply indispensable literacy, participation, and advocacy otherwise possible only through costly trial and error. Even among certain wealth segments, independent consultants furnish welcome second opinions ensuring fiduciary-level money handling without underlying product sales commissions muddling directions.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Franchise consultant
A franchise consultant involves advising clients on the opportunities, risks, and process of becoming a franchisee or franchisor by providing research, analysis, evaluations, and guidance tailored to their situation. Consultants assist potential franchisees in assessing their financial readiness, ideal business types suiting inherent strengths/passions, culture fit with franchises researched, territory availability across target regions, and nuts-and-bolts education in determining informed decisions and avoiding common pitfalls unprepared owners encounter.
For existing franchise systems themselves seeking to expand footprints responsibly, consultants provide indispensable assessments ensuring growth sustainability through customizable marketing fund optimization, location planning backed by data, and franchisee coaching reinforcements guaranteeing positive systemwide experiences already proven repeatedly.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Human resources consulting
Consultants guide updated policy rollouts, team integration, change management, and executive coaching smoothing transitions realized already repeatedly.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
College counseling
College counseling provides professional advisory services guiding students and families through the complex modern college admissions process by helping set realistic targets, managing timelines/tasks, editing applications, coordinating testing prep, advising financial aid paperwork intricacies, and providing tailored emotional support during stressful uncertainty beyond what overburdened high school counselors capacitate alone anymore.
As acceptance odds narrow yearly against exponentially expanding applicant pools while college options globalize confusingly intensifying stakes, college counselors alleviate information overload through personalized assistance capturing best-fit schools where students’ strengths shine leading to more first-choice matches ultimately.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
SEO consulting
SEO consulting offers professional search engine optimization consulting to assist websites and blogs rank better organically and appear more prominently in search engine results. This can make for a viable online business idea because many site owners rely on search visibility to drive traffic but lack the technical expertise to maximize their SEO internally.
Becoming an SEO consultant allows providing customized audits and data-backed recommendations catered to each client’s niche, goals, and target keywords to boost their rankings, traffic, and leads over time through technical guidance and content optimization. Consultants enjoy location-independent work. While honing an analytical understanding of the latest ranking signals and search algo updates is integral, overheads remain relatively low given predominantly virtual delivery.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Operations consultant
Operations consultant offers professional operations and supply chain consulting services to manufacturing, logistics, and retail companies seeking to enhance process flows, inventory efficiency, and distribution strategies but lacking internal transformation expertise. This can make for a profitable consultancy since many established firms struggle to scale complex physical operations seamlessly despite growth ambitions in our digital age.
Becoming an operational consultant allows leveraging domain insights into industry procedures and emerging technologies to provide customized operational audits, cost-benefit analyses, and data-backed roadmaps catered to each client’s obstacles, assets, and objectives be it warehouse automation desires or overseas facility expansion needs requiring diligent qualifying guidance.
How much you can make: $50K – $500K annually
How much does it cost to start: $5K – $20K
How long does it take to build: 3-12 months
Conclusion
Of course, launching a successful consulting business takes dedication, strategic planning, and a willingness to continuously learn and adapt. But with the right mindset, skills, and game plan, the potential for growth and fulfillment is significant.
More must-read stories from Enterprise League:
- Beauty business ideas you should consider starting.
- Promising business ideas for men you should consider.
- Clothing business ideas you should be aware of.
- Trending graphic design business ideas.
- Candy business ideas for those with sweet tooth.
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