business plan template for a consulting firm

Consulting Firm Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

• Consulting Firm Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan

Start Your Consulting Firm Plan Here

Consulting Business Plan

If you need a business plan for your consulting business, you’ve come to the right place. Our consulting business plan template below has been used by countless entrepreneurs and business owners to create business plans to start or grow their consulting businesses.

Important note: If you are looking for a business plan consultant , specifically, a consultant to help you write your business plan, we recommend Growthink who offers a business plan consultation service here.

Sample Consultant Business Plan & Template

Below are links to each section of your consulting business plan template:

• Executive Summary
• Company Overview
• Industry Analysis
• Customer Analysis
• Competitive Analysis
• Marketing Plan
• Operations Plan
• Management Team
• Financial Plan

Next Section: Executive Summary >

Consulting Business Plan FAQs

What is a consulting business plan.

A consulting business plan is a plan to start and/or grow your consulting firm. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.

You can  easily complete your consulting firm business plan using our Consulting Firm Business Plan Template here .

What Are the Main Types of Consulting Firms?

There are many types of consulting firms. Most consultant companies are in business concentrations such as Management, Strategy, Operations, IT, Human Resources, Financial Advisory, and Marketing/Sales. There are also firms that are singularly focused such as those that offer business plan consulting.

What Are the Main Sources of Revenue and Expenses for a Consulting Business?

The primary source of revenue for consulting firms are fees paid by the client. The client will either sign a contract or agreement of the services it will choose and the pricing for those services beforehand.

The key expenses for a consulting business are the cost of leasing the office, employee cost, marketing/advertising costs, and any office technology or software.

How Do You Get Funding for Your Consulting Business?

Consulting businesses are most likely to receive funding from banks. Typically you will find a local bank and present your consulting business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.

What are the Steps To Start a Consulting Business?

Starting a consulting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Consulting Business Plan - The first step in starting a business is to create a detailed consulting business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your consulting business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your consulting business is in compliance with local laws.

3. Register Your Consulting Business - Once you have chosen a legal structure, the next step is to register your consulting business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your consulting business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Consulting Equipment & Supplies - In order to start your consulting business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your consulting business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful consulting business:

• How to Start a Consulting Business

Where Can I Get a Consulting Business Plan PDF?

You can download our free consulting business plan template PDF here . This is a sample consulting business plan template you can use in PDF format.

Consulting Business Plan: Complete Consultant Template & PDF

This consulting business plan is a comprehensive copy/paste example that includes an operating and marketing plan for any kind of consulting business. You can download it and make edits to create a plan for your business, whether you’re a startup consultant business or an existing consulting firm that wants to grow faster.

(Estimated reading time: 19 minutes)

Table of Contents

Consulting Business Plan Template

This plan for consultants contains in-depth information to build your own version. Simply modify the examples in this consulting plan to fit your specific line of work and you can quickly create a plan for industries such as (but of course not limited to):

• management consulting business plan
• advertising and marketing agency business plan
• healthcare consulting business plan
• IT consulting business plan
• fintech consultant business plan
• environmental consulting business plan
• security consulting business plan
• software consultant business plan

This business plan for consultants covers the following topics that go into a plan: your service list and descriptions, target market, marketing strategies for consultants, competition, and financial projections. You can download this example plan as a Google Doc for easy editing in Google Docs, Microsoft Word, Apple Pages, or save it as a PDF:

How to Use This Consultant Business Plan to Attract Clients

• Consulting Business Plan Template – This section provides guidance on what to include in each part of your business plan.
• Sample Consulting Business Plan Text – This part includes actual text from a real consulting business plan example that you can use as-is or modify to fit your specific needs.

Since many consulting businesses are established by solo practitioners, this consulting business plan example will focus on one-person firms. However, if you have partners or are part of a larger company, you can easily adapt this plan by replacing singular pronouns (I) with plural forms (we).

To help you chart a revenue course to starting your consulting business, this business plan example also includes a brief overview of a marketing plan. I recommend taking a look at (even downloading) my detailed marketing plan example as a model for yours.

Sample Consulting Business Plan

Let’s begin with the sections that make up your consulting business plan. I include sample text below the description of what to focus on within each section.

The first section of your business plan introduction is critical for framing your consulting practice.

1. Consulting Business Plan Executive Summary

Here are the key topics to focus on in this section of your consultant business plan:

• An introduction to your consulting business and the services you offer
• A summary of your target market and their needs
• Your key differentiators and what sets your consulting business apart from competitors
• Your approach to delivering high-quality consulting services and achieving measurable results
• A summary of your marketing strategy and how you plan to reach your target market

Consultant Business Plan Executive Summary Example

I specialize in strategic planning, market research, and growth strategies for small and medium-sized technology businesses that cater to the financial sector (i.e., fintech). Additionally, I offer consulting resources such as training programs, workshops, and customized solutions tailored to each client’s unique needs.

My consulting business is built on the belief that every business has the potential for growth and success. To achieve this, I work closely with my clients to understand their goals and challenges, and develop customized solutions that help them achieve their objectives.

My target market consists of small and medium-sized businesses in the financial technology industry, a.k.a. fintech, who are looking to make their operations more efficient based on data and methodical research. My management consulting services are tailored to meet their unique needs, and my approach is focused on delivering measurable results that align with their business objectives.

What sets my consulting business apart from competitors is my focus on collaboration and transparency. I believe in working closely with my clients to develop solutions that are customized to their specific needs, and I keep them involved in the process every step of the way.

To reach my target market, I will establish a strong online presence through content marketing and search engine optimization (SEO for consultants). I will leverage social media platforms to engage with potential clients and showcase my expertise in the fintech industry as a top consultant.

My consulting business is committed to helping businesses solve challenging business management problems that require rigorous analysis and careful calculations. With a focus on delivering innovative solutions and building strong relationships with my clients, I am confident in my ability to help businesses succeed and thrive in today’s competitive market.

2. Consulting Business Plan Service Description

Every consulting business description is slightly different. I’ve provided two variations in this section so that you can identify which one resonates best with your goals. Each version provides similar information, but is structured differently. I have also included consulting service description examples for each version.

Version 1: Service Description

Focus on these elements for this section of your business plan:

• The types of consulting services you offer and their value proposition
• A description of the types of clients you serve and the problems you solve for them
• A summary of your consulting methodologies and tools
• An explanation of the benefits your clients can expect to receive from your services

If you are an independent consultant or small group, even in serving in a consulting capacity at a different firm, you can introduce the fact that your years of experience enable you to offer the same caliber of services that larger more expensive firms provide at significantly higher rates.

Sample Consulting Service Description

• Achieving product-market fit
• Improving operational efficiency
• Enhancing strategic planning and decision-making processes
• Implementing change management initiatives
• Developing growth strategies and market expansion plans
• Optimizing financial performance and risk management

My consulting methodologies are based on a data-driven approach that combines qualitative and quantitative analysis to identify and solve business problems. I use a variety of tools and techniques, including process mapping, benchmarking, and SWOT analysis to develop customized solutions for each client.

Working closely with my clients, I help them develop actionable plans and implement them efficiently to achieve measurable results. By leveraging my expertise and experience, my clients can expect to:

• Improve profitability and reduce costs
• Increase efficiency and productivity
• Enhance customer satisfaction and loyalty
• Expand into new markets and drive growth
• Stay ahead of the competition and achieve sustainable success

I will share examples of past projects that provide a detailed framework along with results to show clients what they can achieve by hiring my consulting business.

With my 15 years of niche industry experience and wealth of successfully completed projects, I am able to offer exceptional high caliber service at lower overall rates than larger firms. My management consulting services are designed to help businesses achieve their full potential and thrive in today’s competitive marketplace.

Version2: List of Business Consulting Services

Before you start writing this section, ask yourself the following questions to help define and refine your consulting services. For this consultant business plan example, I’ve included the following prompts to focus on what a management consultant would focus on. Tweak these as needed for your line of consulting.

• Types of consulting services : Describe the different types of management consulting services you offer, such as strategy consulting, organizational design, change management, or project management.
• Delivery methods : Explain how you deliver your consulting services, such as through workshops, one-on-one consultations, or online platforms.
• Benefits : Highlight the benefits of your consulting services for clients, such as increased efficiency, optimized performance, improved profitability, or streamlined operations.
• Unique value proposition : Describe how your consulting services are unique and different from those of competitors. This could include your methodology, tools, experience, or industry knowledge.
• Website URL : Include the URL of your website where clients can learn more about your consulting services and contact you for more information.

Below is my example of a management consulting services write up, including descriptions of each service, the benefits they provide, and your unique approach to delivering them. You can modify this section of your consultant business plan to fit your exact services offered.

This version is a little shorter than the one above and also includes a case study example link, since content like that will help clients understand the value you bring to the table. You can add a link like this in version 1 above as well.

Example: Management Consulting Services Offered

• Strategy consulting : We work with businesses to develop effective strategic plans that align with their mission and vision and drive business growth.
• Organizational design and development : We help businesses optimize their organizational structure and processes to improve performance and efficiency.
• Change management : We assist businesses in managing organizational change effectively to minimize disruption and achieve desired outcomes.
• Project management : We provide project management services to help businesses plan, execute, and deliver projects on time and within budget.
• Performance management : We help businesses implement performance management frameworks that align employee goals with business objectives and drive results.

Our management consulting services are delivered through a combination of workshops, one-on-one consultations, and online platforms. We use a data-driven approach that combines qualitative and quantitative analysis to identify and solve business problems. Our unique value proposition is based on our extensive experience working with businesses in diverse industries, combined with our personalized approach and commitment to delivering results.

Clients can expect to achieve a range of benefits, including improved organizational performance, increased profitability, enhanced employee engagement, and optimized project outcomes. See our go-to-market strategy case study example for details on the types of results clients can expect from our team.

3. Consultancy Business Plan Target Market and Buyer Persona

It is important to focus on a niche rather than offering generic services.

Consulting as an industry is highly competitive, so prospects may not be able to determine who is the best consultant for them. When you focus, your marketing efforts can be customized to the niche you specialize in.

Think of it this way: if you were to implement Salesforce or Hubspot in your business, would you hire a general IT consultant or a specialist in the product? A general IT consultant may have experience with different systems but may not be as familiar with the intricacies of how to set up Salesforce or Hubspot in a way that makes the most sense for your company.  A specialist, however, will have in-depth knowledge and experience and most all will use best practices for your business.

You would pick the Salesforce or Hubspot specialist without question. In my prior companies, I went through this exact exercise and hired specialists for each of these products.

Similarly, your management consulting business plan should focus on a specific target group so that you become known as a specialist for your niche.

Additionally, create a buyer persona – or a few – to get a clear picture of who you plan to target.

What Goes Into a Buyer Persona for a Consultancy

• Sample Name, Job Title and Role : I always like to give each persona a name to make it more real. Then, include the specific job title and role of the individual who is most likely to hire a management consultant, such as a CEO, CFO, or HR Director.
• Industry and Company Size : Add the industry and size of the company that the individual works in, as the challenges and needs of a small startup may be different from those of a large corporation.
• Goals and Objectives : Be sure to list the most common goals and objectives that the individual is trying to achieve, such as improving operational efficiency, increasing revenue, or expanding into new markets. These should tie into your product or service offering.
• Pain Points and Challenges : Know the pain points and challenges that the individual is facing, such as difficulty retaining top talent, ineffective decision-making processes, or lack of innovation.
• Decision-Making Criteria : Identify the factors that the individual considers when making a decision to hire a management consultant, such as experience, reputation, price, or industry expertise. This can include the influences – or rather, influenc ers , that the buyer relies on to make final purchasing decisions.
• Communication Preferences : Add what you believe to be the preferred communication channels and styles of the individual, such as email, phone, text or in-person meetings.
• Personal Characteristics : You can include the personal characteristics of the buyer, such as their values, beliefs, and personality traits, which may impact their decision-making process.

I’ve created several samples that you can download and have also provided one for this consulting business plan below.

Download 5 Free Buyer Persona Examples →

Sample Management Consulting Target Market

Given my strong background in financial technology (fintech), I specialize in working with fintech startups and small to mid-sized financial institutions.

My clients are typically looking for help in implementing new technology solutions, improving their operational efficiency, or expanding into new markets. As a fintech consultant, I help them identify market expansion opportunities where they could increase their total addressable market ( TAM ) and clarify the marketing plan to penetrate deeper into existing accounts, also known as the land-and-expand strategy.

My consulting services are tailored to each client’s specific needs and can include everything from strategic planning to project management. By working with me, my clients gain access to my expertise in fintech, as well as my extensive network of contacts in the industry.

4. Marketing for Consulting Firms

As a consultant starting a new business or growing an existing one, it is crucial to have a well-planned marketing strategy to acquire clients. In the Marketing Strategy section of your consulting business plan, you should outline how you will promote your consulting firm and services to potential clients. This section should also include information on your consulting branding strategy and how you position yourself in the consulting market.

Here are ten marketing ideas to consider when developing your consulting marketing plan, written as tactics that you can copy/paste into a consulting business plan template or PDF. You can even use ChatGPT, Bard, or other AI-writing tools to create a starter outline, but be sure to include your own original content.

Sample Marketing Plan for a Consulting Firms

To acquire new customers and expand deeper within existing clients, I will deploy the following marketing ideas for consultants and leverage partners to expand my brand’s reach:

• Developing an educational website : My website will contain information on my services, but more importantly it will include case studies and thought leadership content. The key to success will be my educational content as part of my long-term content marketing strategy. I will add lead capture forms on each high-intent article to convert website visitors into leads that I can nurture through email marketing and social media.

• Leveraging SEO : I will identify specific high-intent keywords related to my fintech consulting niche and optimize my website content accordingly. This will help my website rank higher on search engines and attract more potential clients through my educational content. Many of my articles and guides will include videos because research shows that content with videos and images enhances SEO. While many firms rely on paid advertising, using long-tail keywords can be an effective and cost-saving approach. By targeting “low keyword difficulty” and “high search volume” phrases, I can tap into organic search traffic that can continue to generate leads even after the initial investment. Therefore, as a consulting firm, I will prioritize SEO as part of my overall marketing strategy to increase my online visibility and attract potential clients. I will use MoreBusiness.com’s SEO Coaching services to accelerate my footprint online to drive sales from organic traffic.
• Podcasting with thought leadership content : I will share my knowledge and expertise by starting a podcast . This way, I can repurpose the content I create into multiple channels, including writing articles, blog posts, and white papers and using clips to sprinkle throughout my social media channels. I will also produce webinars and slide decks from these podcasts to educate my target market. Having experts as guests on the podcasts will allow me to expand my reach when the guests share posts on their social channels as well.
• Attending industry events : I will attend relevant industry events to network with potential clients and showcase my expertise. I will identify 10 unique events every quarter and inquire about speaking to build my reputation and attract new clients. My goal is to speak at least twice each quarter to new audiences.
• Partnering with complementary businesses : Partnering with complementary businesses can help me reach new clients and expand my services. These businesses would provide services such as IT managed services, accounting, legal and HR, which can lead to referral business.

• Building a referral network : I will leverage my existing network to generate referrals by first providing opportunities for others to get more business. This approach builds trust first, which can lead to getting referrals from others.
• Advertising on industry-specific platforms : I will advertise on industry-specific platforms such as trade publications, industry associations, and job boards and look at the cost-benefit of Google and LinkedIn advertising.
• Using email marketing : I will send regular email newsletters with business consulting topics to stay in touch with clients and prospects. I will send newsletters with trending topics, case studies, and other relevant content to keep them engaged and informed about the industry as a whole as well as projects related to my services.

5. Consulting Business Plan Financials

To calculate your projections, your business model needs to consider several factors such as your revenue streams, cost structure, market size, and growth potential. You’ll also need to look at any historical financial data you have to create realistic projections.

It’s important to keep in mind that financial projections are not a guarantee of your business’s future performance, but rather an estimate based on the information you have available. That’s why it’s essential to make sure the assumptions in your business plan are realistic and backed up by data.

Overall, the financial projections section of your consulting business plan is a critical component that helps you understand the financial feasibility of your business and attract investors or lenders. In the example below, I’ve included an outline of what an individual business plan consultant might put into their business plan. If you are operating with partners as part of a larger entity, modify this example to accommodate for your team’s output and productivity. This consulting plan example also includes various sources of revenue, not just billable time.

Sample Financial Projections for Consulting Business Plan

As a consulting firm, I have several sources of revenue aside from billable hours. These include:

• Retainer Fees : Some clients prefer to pay a fixed monthly fee in exchange for a set number of hours or a specific scope of work. This can provide a predictable revenue stream for the firm.
• Project-Based Fees : For larger projects with a defined scope, I may charge a fixed fee based on the work required. This allows clients to budget more effectively and can provide a higher profit margin for the firm.
• Commission Fees : For certain types of work, such as sales, I may earn a commission on the results achieved. This can be a win-win for both the client and the firm, as the client only pays for results achieved and the firm is incentivized to achieve those results.
• Product Sales : I will develop proprietary online courses to share my expertise in fintech consulting and grow advisory services with those who are not yet ready or unable to afford my consulting services. These will provide an additional revenue stream and can also be used as a freebie given to select clients to share with their staff.
• Referral Fees : By referring clients to other businesses or consultants, I may earn a referral fee. This not only provides an additional source of revenue, but can also help to build relationships and expand my firm’s network.

By diversifying revenue streams, my consulting firm can create a more stable and profitable business model. Our expected revenues for the first three years are as follows:

Year 1 Consulting Firm Financial Projections:

• Billable hours: 1,000 hours x $300/hour = $300,000
• Retainer clients: 3 clients x 10 hours/month x $300/hour x 12 months = $108,000
• Product sales: 5 sales x $197 = $985
• Commissions/referral fees: $10,000
• Total revenue: $419,985

Year 2 Consulting Firm Financial Projections:

• Billable hours: 1,400 hours x $300/hour = $420,000
• Retainer clients: 3 clients x 10 hours/month x $350/hour x 12 months = $126,000
• Product sales: 7 sales x $197 = $1,379
• Commissions/referral fees: $15,000
• Total revenue: $562,379

Year 3 Consulting Firm Financial Projections:

• Billable hours: 1,800 hours x $300/hour = $540,000
• Retainer clients: 3 clients x 10 hours/month x $400/hour x 12 months = $144,000
• Product sales: 10 sales x $197 = $1,970
• Commissions/referral fees: $20,000
• Total revenue: $705,970

6. Consultant Business Plan Conclusion

The conclusion section of a consulting business plan should summarize the key points of the plan and reiterate the main goals and objectives as you start your consulting firm. It is similar to your executive summary and should reinforce the value that your consulting firm brings to clients and how it will address their needs and solve their problems.

Your goal is to leave a positive and lasting impression on the reader, highlighting your consulting firm’s strengths and capabilities and conveying a sense of confidence in your ability to build a successful consulting business. Again, as in previous sections, I’ve written the example below for an individual consultant, which you can easily modify as you need.

Consulting Business Plan Conclusion Example

My consulting firm is well-positioned to provide exceptional services to our clients in the fintech industry. I have a highly experienced team through partnerships with individuals who have a track record of success in this fintech consulting, and we are committed to helping our clients achieve their business goals through innovative and effective solutions. I believe that by leveraging our expertise in operations management and technology, we can help our clients optimize their operations, increase efficiency, and ultimately, drive growth and profitability.

Through strategic partnerships, I’m able to offer a comprehensive suite of services to meet our clients’ needs, from project management and process improvement to software implementation and data analytics. My goal is to establish long-term relationships with our clients and become a trusted partner in their success.

I understand the challenges facing the fintech industry and are constantly adapting and evolving to stay ahead of the curve. I am committed to staying up-to-date with the latest trends, technologies, and best practices in my field, and we are excited to bring this knowledge to clients.

Overall, I am confident in my ability to deliver exceptional value to our clients and achieve the business goals outlined in this plan. I am excited to embark on this journey and look forward to the opportunities that lie ahead.

Start Your Consulting Business

Ready to get started? Download this consulting business plan template and save it as a PDF or doc file for future reference as you build out your business model and growth path.

Connect with me at MoreBusiness.com to help you grow faster! I’ve built several businesses and can help you fast-track your marketing and sales, especially through a managed podcast and thought leadership.

Set Up a Coaching Conversation →

Like this? Share it with your network:

I need help with:, popular topics:.

• Learning SEO
• Generating Sales
• Writing a Marketing Plan
• Writing a Business Plan
• Leading My Team
• Free Marketing Webinars
• Starting My First Business

Got a Question?

Get personalized expert answers to your business questions – free.

Affiliate Disclosure : This post may contain affiliate links, meaning we get a commission if you decide to purchase something using one of our links at no extra cost to you.

You Might Also Like...

Should I Give a Discount on My Consulting Fees?

SEO Title Tag Makeover: 4 Powerful Examples

5 Steps to Design an Effective Employee Engagement Action Plan

4 Actionable Steps to Find a Mentor for Your Business

5 Effective Scheduling Tips To Boost Your Productivity

Business Coaching vs Executive Coaching: 10 Examples

7 Employee Satisfaction Secrets: Nurturing a Happy Small Business Team

Secure Your First 10 Investors: Step-by-Step Startup Guide

SEO Coaching and Marketing Courses

Get More Business

Marketing tools.

• SEO Keyword Tool
• MSP Website Content Kit
• Done-for-You Content
• Graphic Design Tool
• Webinar Automation
• Getting Referrals
• Hubspot Marketing Automation

Popular Downloads

• Marketing Plan Example
• MSP Marketing Plan
• Life Coach Business Plan
• Consulting Business Plan
• How to Write a Business Plan
• Clothing Line Business Plan
• Restaurant Business Plan
• Personal Trainer Business Plan
• Trucking Business Plan
• Pizza Restaurant Business Plan

Free Guides

• B2B SaaS SEO Best Practices
• MSP SEO Marketing Playbook
• Buyer Persona Examples
• How to Increase Google Rankings
• New Client Welcome Package
• How to Create a Happy Customer
• Brand Development Guide
• SaaS Metrics Dashboard
• Marketing and SEO Videos
• Salary Calculator
• Executive Coaching Newsletter
• Contributing Content
• Affiliate Disclosure

Launching soon – Support us on Product Hunt 🐱 and get 50% off your first month!   Get 50% Off →

• Sample Business Plans

How to Write a Consulting Business Plan + Free Template

Are you someone people usually come to to get valuable business advice? Or do you really like sharing valuable business insights to help businesses grow? Well, starting a consultancy business can be one efficient move to monetize your expert skills.

Now, you wouldn’t start a business without solid planning, would you? Well, how about you take the first step and write an actionable management consulting business plan for your business idea?

Writing a business plan can be tough. But we are here to make it easier for you.

This step-by-step guide is here to help you write a forward-thinking, realistic plan in easy actionable ways and offers a free management consulting business plan template to kickstart your writing process. .

So let’s get started.

Key Takeaways

• Craft a remarkable executive summary summarizing the concept, strategies, objectives, financial projections, and mission values of your consulting business plan.
• Conduct in-depth industry analysis and market research identifying emerging trends and shifts that are likely to influence your consultancy business.
• Introduce the services of your consultancy firm along with its pricing plan to give readers a thorough idea of your service offerings.
• Conduct a SWOT analysis of your key competitors and determine your competitive edge over them to strengthen your competitive analysis.
• Lay down a clear organizational chart highlighting the key skills, salaries, and experience of people working in your consulting firm. .
• Create realistic financial projections for sales, revenue, costs, expenses, and cash flow for your consultancy after making room for contingencies and emergencies.
• Draft a detailed operations plan highlighting the processes and procedures for everyday activities at your consultancy.
• Devise a diversified marketing and sales plan to promote your business effectively to your target audience.

Key Elements of a Management Consulting Business Plan

• Executive Summary
• Company Overview
• Competitor and Market Analysis
• Service Offerings
• Marketing Plan
• Management Consulting Team
• Operational Plan
• Financial Outlook

Since we are talking about a consulting business plan, let us walk you through this step-by-step outline to help you write a stellar plan covering all the essential facets.

1. Executive Summary

The executive summary is the first and foremost section of your consulting business plan that will engage your readers and persuade them to dive further into details.

Begin by offering a brief overview of your business idea highlighting what it does. Take reference from the below example written using Upmetrics AI assistant .

Further, paint a picture, briefly highlighting your consulting services, market scenario, competition, USP, marketing and sales strategies, and financial objectives.

Ensure that you adopt a storytelling approach while crafting your executive summary. Ideally, this section of your business plan should concisely summarize your entire business plan in a page or two.

So ensure that you strategically place the information within this section to keep the readers hooked.

Now be smart and revisit this section after you are done writing for every other section of your plan. A thorough understanding of your business plan at that time will enable you to craft a compelling summary easily.

Say goodbye to boring templates

Build your business plan faster and easier with AI

Plans starting from $7/month

2. Company Overview

This section of a business plan helps the reader get a thorough understanding of your consulting firm.

The company overview offers a detailed description highlighting what type of consultancy you would run, its physical location, legal structure, mission objectives, history, and all such related information.

Begin by clearly stating the concept and niche of your consulting firm. Further, highlight whether you would be running a sole proprietorship or partnership, and if it’s the latter discuss the profit-sharing ratio.

Don’t forget to mention your business structure and whether or not will you run a Limited Liability Company (LLC).

This section is your chance to introduce your business objectives, core value proposition, and mission objectives. Highlight any milestones you plan to achieve or have already achieved and make this section insightful.

Refer to this example describing the short-term objectives of a consulting firm from an Upmetrics plan.

3. Competitor and Market Analysis

An in-depth analysis of the consulting industry, market, and competitors is essential to build a successful consulting business. This is the most crucial part of your consultancy business plan helping you identify your target market, emerging trends, competitors, and your advantage over them.

Market analysis

The market analysis section of your consultant business plan will help you evaluate the market condition, target market, and business growth opportunities for your consultancy business.

Begin by researching and analyzing the consultancy market size and the serviceable obtainable market of your specific consultancy.

Further, determine your target audience by creating a buyer’s persona of your ideal customer. In this customer analysis section, determine their demographic and psychographic details to get a clear understanding of who your customer would be.

Refer to this buyer’s persona written using Upmetrics AI assistant:

Lastly, identify the emerging market trends within your industry, potential risks, and the shifts in consumer behavior likely to influence your business.

Competitors analysis

In the competitive analysis section of your plan, identify the consulting firms and other businesses that offer direct or indirect competition to your business.

Your direct competitors are other consultants in your local market, while your indirect competitors are in-house experts, software solutions, and an industry-specific business community extending resourceful help.

Conduct a SWOT analysis of your key competitors and analyze them based on their service offerings, target demographics, pricing, and other relevant factors.

Highlight your competitive advantage over these firms, suggesting that there are ample opportunities for you to succeed despite the competition.

Here’s an example of a competitive advantage for a consultancy business using Upmetrics.

4. Service Offerings

Consulting businesses offer a variety of consulting services. In this section of your consulting business plan, you will create a clear list of all the services you will be offering.

The list can include various business consulting services such as:

• Strategy consulting
• Operation consulting
• Human resources consulting
• IT Consulting
• Risk and compliance consulting

Now, elaborate on these services to help your readers understand what it truly entails. Refer to this example of legal and compliance services brief description:

As part of our risk and compliance service, the company will offer:

• Draft, negotiate, and conclude ‘Joint Venture Agreements’, and ‘Memoranda of cases for one of our key clients. 
• Legal Advice & Consultation
• Case Litigation & Pleading
• Legal Translation
• Business Start-up Advice
• Management Consultancy
• Representation and Attorney Services
• Legal Compliance

Determine the pricing of these services and place it alongside your service list. Ideally, you should create differential and tiered pricing plans for your services to cater to different target audiences.

All in all, make this section an informative read for your readers helping them understand your unique business offerings.

5. Marketing Plan

A well-defined marketing plan is among the most important components of your consulting firm’s business plan. Well, It’s time to design your marketing strategies using your market research about the target customers and the potential clients.

Multifarious marketing efforts are essential to make your new business visibly famous in the market. Well, here are a few strategies that a successful consultant follows religiously:

Social media marketing

Choose different social media platforms to build your consultancy brand online. LinkedIn can be a good choice for a consultancy business followed by FaceBook and Instagram. Create your marketing plans for different platforms and be consistent with your posting there.

Informative website

Build an informative website for your consulting business and enhance its ranking on search engines by creating a dedicated content marketing program.

Email marketing

A well-defined email marketing program to attract new clients, newsletters for subscribed customers, and promotional services offer to convert a potential customer base.

Targeted advertising

Running a paid ads program to reach targeted small businesses and potential clients.

Refer to this example of marketing and promotion programs for your consultancy from Upmetrics.

In this section of your consulting business plan, also highlight your marketing budget and its allocation to different marketing activities.

6. Management Consulting Team

Introduce your managerial team in this section of your consultant business plan by showing how you have the right people to run a successful consultancy.

Begin by introducing the people at top managerial positions and offer a brief description depicting their skills, expertise, and experience in offering specific consulting services.

Refer to this example introducing the managing director of a consulting agency.

Mr. Ashton will serve as the Managing Director of CCI. A highly motivated and dynamic individual, Thomas boasts vast experience in the field of aesthetics having spent a career spanning 14 years essaying various white-collar roles for aesthetic companies across America. His ability to multi-task and expertly weave through operational pitfalls equips him with exceptional management and administrative skills. The US operations include sourcing, interacting, and building client relations across the industry value chain involving professional salons and end-user clientele. Mr. Ashton’s expert management and industry-specific skills will play an instrumental role in achieving the parent company’s goal of establishing a sustainable and reliable aesthetic brand in the US.

Don’t limit this section to the introduction of owners and managers. Instead, introduce every person who’s an asset to your business and can contribute significantly to your business goals.

In this section, you will also highlight the organizational design to offer a clear understanding of the hierarchy in your consulting firm. And lastly, don’t forget to add the salaries and wages of these people alongside their roles while creating your management plan.

7. Operational Plan

The operations plan shows that you don’t only have the means but also the knack to operate the consulting business efficiently.

This section of your business plan highlights the processes and procedures essential to run the everyday operations of your consulting business and the milestones you wish to achieve.

Confused what should you include in your operations plan? Let’s check this out:

Hiring plan

Mention the number of project managers, analysts, BD, administrative, and support workers needed for your business. Briefly describe the qualifications, skill sets, and experience for these roles and lay your hiring plan to hire employees.

Refer to this example of a hiring plan for a consultancy by Upmetrics.

Operational processes

Briefly explain the different processes and procedures of your business in the consulting industry. This includes processes for client acquisition, service delivery, project management process, quality assessment, and client retention.

Tools and equipment

Mention all the equipment you will require to deliver quality consulting services to the clients. Also, include the pricing of these equipment and how you plan to source them from the market.

Overall, think of smaller nuances and make this section as brief and detailed as possible. Consider it as a guidebook that will answer all the operational queries that arise while running the business.

8. Financial Outlook

A comprehensive financial plan is the most crucial component of your business plan and sometimes it is the only section investors or readers might be interested in.

So work on putting together a well-detailed financial plan with realistic financial forecasts to increase the weight of your consulting plan.

The projections in a financial plan are important because they help the readers gauge the financial viability of your business idea. They offer a clear picture of the profitability, growth potential, and cash-generating capacity of your consulting business.

To create a befitting plan, begin by offering a detailed insight into your startup costs, revenue streams, profit margins, operational costs, and cash flow projections. Gather these projections to work on your key reports.

Refer to different business plans to see what more could you add to your financial section apart from these key essentials:

• Balance sheet
• Profit and loss statement/ Income statement
• Cash flow statement
• Break-even analysis
• Investment plan

While making a financial plan, ensure that you figure out the calculations for the next 3-5 years. And yes, we agree that calculating all these financial projections from scratch can get overwhelming. However, with this financial forecasting tool from Upmetrics , the entire task of creating a detailed plan will get much easier and more effective.

Simply enter the details in the tab and let the tool undertake all the manual calculations and create engaging visual reports to add to your plan.

Get Your Free Management Consulting Business Plan

Need help writing the contents of your management consulting business plan? Well, here you go. Download our management consulting business plan pdf and start writing.

Our intuitive and modern consulting business plan template offers a step-by-step guide with relevant examples to speed up your process of writing an effective business plan. It will get your actionable plan ready while ensuring that you add all the crucial details to it.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

Start preparing your business plan with Upmetrics AI

And here we are. Now that you are aware of how to write an effective business plan using our consulting business plan template, you are one step closer to starting your business with a bang.

But that’s not it. What if we tell you that your business planning process can be made easier and more efficient with a few cutting-edge tools? Well, the Upmetrics business planning app is here at your service.

With an AI assistant to speed up your writing process, financial forecasting tools to help you with projections, and thousands of free educational guides to help you set up the business- we think you get it all with Upmetrics.

Get started now.

Related Posts

Bookkeeping Business Plan

Virtual Assistant Business Plan

How to Write Customer Analysis for Business Plan

Step-by-Step Guide to Writing a Business Plan

Engineering Consulting Business Plan

Marketing Consulting Business Plan

Frequently asked questions, what are the key components of a management consulting business plan.

While there are no fixed rules regarding what to include in your consulting business plan, you can ensure that you don’t miss adding these key components to your plan:

• Executive summary
• Company overview
• Market and competitor analysis
• Service offerings
• Management team
• Operations plan
• Financial plan

What financial projections should be included in the business plan?

While making your consulting business plan, ensure that you add the financial forecasts for startup costs, expenses, revenue, cash flow, sales, and expected profitability to your plan.

How often should I update my Management Consulting Business Plan?

Ideally, you should update your business plan at least once a year since you operate in a highly dynamic industry. However, if you feel that the yearly updates are insufficient, you can also review and update your plan every quarter.

How should I approach the funding section of my business plan?

Begin by calculating your startup costs and the actual monetary situation to evaluate the funding needs for your business. Thereafter check the potential funding sources and their application procedure to avail required funding.

As a consulting business, you can choose one of these funding sources:

• Private loan
• SBA approved loans
• Angel Investors
• Venture Capitalist firms
• Crowdfunding

Can the business plan help in securing funding or investments?

Absolutely it does. Investors, credit lenders, and banks will look after your business plan before accepting the funding request for your business. This is because a business plan offers a clear understanding of your business idea while simultaneously vouching for the financial feasibility of your plan.

What legal considerations should I include in my business plan?

Here are a few of the legal considerations you should make while writing your business plan:

• Business licenses and permits
• Health safety compliance
• Insurance coverage
• Legal business structure
• Employment laws

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

Plan your business in the shortest time possible

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Create a great Business Plan with great price.

• 400+ Business plan templates & examples
• AI Assistance & step by step guidance
• 4.8 Star rating on Trustpilot

Streamline your business planning process with Upmetrics .

BUSINESS STRATEGIES

How to create a consultant business plan

• Nirit Braun
• Oct 30, 2023
• 13 min read

When launching your consulting business, one of the essential first steps is crafting a well-structured and detailed business plan. Your consulting business plan is like a strategic playbook that lays out your goals, tactics and financial projections. It not only steers you toward success but also equips you to adapt and thrive in the dynamic world of consulting.

Keep reading for tips on how to build a strong business plan for your business. Use the template provided at the end to get started on your own plan.

Looking to kick off your consultancy business? Create a business website today with Wix.

Why create a consultant business plan? Top benefits to consider

A business plan forces entrepreneurs to thoroughly evaluate their business idea, target audience and competitive landscape. This process clarifies their vision and mission, ensuring that they have a clear understanding of how their consultancy will provide value to clients. A business plan helps you in the following ways:

Create a business blueprint : With a business plan in place, entrepreneurs looking to start a business can make informed decisions based on a solid foundation of research and analysis. They can choose the most effective strategies for marketing, pricing and service delivery, enhancing their chances of success. Your business plan can also be used to explain what type of business you'll start - whether that's an LLC, Corporation or something else. Learn more about how to start an LLC .

Secure funding : The cost to start a consultancy business can range from around $60 to several thousand dollars . For those seeking external funding, a well-developed business plan demonstrates credibility and professionalism. Investors and lenders are more likely to support a venture with a thought-out plan that showcases its potential for growth and profitability.

Set measurable goals : A business plan sets measurable goals and performance metrics, which is vital with this type of business . This allows entrepreneurs to track their progress, adapt strategies as needed and celebrate milestones along the way.

Want to remind yourself of the basics? Learn more about how to start a service business .

How to create a successful consultant business plan in 6 steps

In this section, we'll break down the key components involved in crafting a successful consultant business plan in six steps.

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary serves as a concise overview of the consultant's business plan, providing a snapshot of the key components and the business' essence. It's usually the first section investors, lenders and stakeholders read, so it must encapsulate the business' value proposition, objectives, strategies and projected growth. To write a clear executive summary for a consultant business make sure to keep it succinct yet informative. Clearly state the purpose of the business, the services offered, the target market and the unique value proposition. Avoid technical jargon that may confuse readers.

Then you can mention the business' strengths, such as the expertise of the consultants, unique methodologies or specialized services. Emphasize factors that set your consultancy apart from competitors.

Briefly discuss the market need for your services and how your consultancy plans to fulfill it. It’s worth noting that strategy and management consulting, as well as technology consulting, financial consulting and HR consulting are in high demand . Highlight any trends or changes in the industry that your business can capitalize on.

Remember to include a snapshot of your financial projections, indicating expected revenue, costs and profitability. This provides a glimpse into the business' potential financial success.

Example of an executive summary for a consultant business

"XYZ Consulting is a boutique consultancy firm specializing in digital transformation for small and medium-sized enterprises (SMEs). With a team of seasoned professionals, we offer tailored solutions to help businesses harness the power of technology for growth. Our unique approach blends strategic consulting with hands-on implementation, ensuring tangible results. In a rapidly evolving tech landscape, XYZ Consulting is poised to be the partner SMEs need to thrive. Our financial projections forecast a steady growth trajectory, with a focus on achieving profitability within the first two years. With a proven track record and a finger on the pulse of industry trends, XYZ Consulting is well-equipped to guide businesses toward digital success."

02. Business and domain names

Knowing how to name a business is crucial for a consultancy venture and a key step before you register your business . It's the foundation of your brand and influences how clients perceive your services. With Wix , you can use a free business name generator or consulting company name generator as helpful tools for brainstorming unique and memorable names. Ensure the name reflects your expertise and the services you offer.

Similarly, the domain name for your business website is vital. It should be easy to remember, relevant to your services and ideally, match your company name. Check the domain's availability using domain registration platforms. Ensure the domain name aligns with your consultancy's focus and services. Generally, this means keeping it short and easy to spell and pronounce.

Learn more: How to make a consulting website

03. Market analysis and research

Incorporating a thorough market analysis within your consultant business plan is essential. Understand the competitive landscape, target audience and market trends. Research your competitors' strengths and weaknesses, pricing strategies and client base. This information will shape your business strategies and help you identify gaps in the market that your consultancy can fill.

04. Operations plan

The operations plan outlines the logistical aspects of your consultancy. It covers location, premises, equipment and staffing requirements. Determine whether your consultancy will be home-based, have a physical office or operate virtually. Define the equipment and software needed to deliver services effectively. Outline your staffing needs, including the roles and expertise required.

05. Marketing and advertising plan

Your marketing and advertising plan outlines how you will promote your consultant business. Identify the most effective strategies to reach your target audience. Consider content marketing, social media campaigns, networking events and speaking engagements to showcase your expertise. Emphasize how your marketing efforts will build brand awareness and attract clients.

You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker to get a professional logo in minutes.

06. Financial plan

The financial plan is a critical component of any business plan. It outlines how you will raise money for your business initially and provides a timeline for reaching profitability. Detail your startup costs, including equipment, marketing expenses and personnel. Present your revenue projections, taking into account different pricing models and growth scenarios. Highlight your break-even point and the strategies you'll employ to achieve profitability.

By addressing each part of their plan, entrepreneurs can create a robust business plan that guides them toward achieving their business goals and building a reputable consulting brand.

Consultant business plan examples

These templates illustrate two hypothetical consultant business plans, each tailored to a specific niche. These are just templates and should be adapted to your specific business goals and industry dynamics.

Consultant business plan template 1: XYZ Digital Consultants

XYZ Digital Consultants is a pioneering consultancy firm focused on digital transformation for businesses seeking to thrive in the digital age. Our team of experienced professionals offers strategic guidance and hands-on implementation to drive growth through technology adoption. With projected profitability within two years and a commitment to excellence, XYZ Digital Consultants is poised to lead businesses into a successful digital future.

Company and domain name

Company name: XYZ Digital Consultants

Domain name: xyzdigitalconsultants.com

Market opportunity: The rapid shift toward digital operations has created a substantial demand for expert guidance. Our analysis reveals a gap in the market for holistic digital transformation solutions tailored to the needs of SMEs.

Competitor research: We've identified key competitors and their strengths, which informs our strategy to emphasize personalized service and comprehensive implementation.

Location: Primarily virtual, with occasional in-person consultations as needed.

Premises: Home-based setup with access to modern communication tools.

Equipment: High-speed internet, latest software tools and virtual meeting platforms.

Staffing: Founder and lead consultant, supported by contract specialists as projects demand.

Content marketing: Regular blog posts on digital transformation trends, case studies and client success stories.

Social media campaigns: Active presence on LinkedIn and X to engage with potential clients and share valuable insights.

Networking events: Participation in industry webinars, seminars and local business events to showcase expertise.

Speaking engagements: Leveraging speaking opportunities at conferences and workshops to establish authority in the field.

Startup costs (equipment, website development, marketing materials): $15,000

Revenue projections (year one): $150,000

Revenue projections (year two) : $300,000

Break-even point: Achieved by the end of year one

Funding: Initial investment and savings from the founder

Consultant business plan template 2: LeadersEdge Consultants

LeadersEdge Consultants is a dynamic consultancy dedicated to leadership development and organizational excellence. Our experienced team offers customized programs that empower leaders to drive positive change. With a projected growth trajectory and a commitment to fostering impactful leadership, LeadersEdge Consultants is poised to transform organizations and elevate their success.

Company name: LeadersEdge Consultants

Domain name: leadersedgeconsultants.com

Market opportunity: Our analysis reveals a growing need for leadership development programs in diverse industries.

Competitor research: We've identified competitors' offerings and recognized an opportunity to provide a unique blend of coaching, training and strategy implementation.

Location: Virtual consultations, with the option for on-site workshops

Premises: Virtual office setup with video conferencing capabilities

Equipment: High-quality audiovisual tools, assessment software and learning platforms

Staffing : Founder will serve as the lead consultant, supported by certified leadership coaches

Customized workshops: Designing tailored leadership development programs for individual organizations.

Webinars: Hosting webinars on leadership best practices to showcase expertise and engage potential clients.

Thought leadership content: Publishing whitepapers, eBooks and video content on leadership topics.

Collaborations: Partnering with HR and talent development professionals to expand reach.

Startup costs ( making a website , training materials) : $10,000

Revenue projections (year one): $120,000

Revenue projections (year two): $250,000

Break-even point: Achieved within the first six months

Funding: Initial investment from the founder.

How much should you be charging as a consultant?

The amount you charge as a consultant will depend on a number of factors, including:

Your experience and expertise

The type of consulting services you offer

The value you provide to your clients

The market rate for consulting services in your field

In general, consultants charge between $100 and $500 per hour. However, some experienced and highly specialized consultants can charge upwards of $1,000 per hour.

To determine your consulting rate, you can use the following formula:

Consulting rate = Hourly rate * Value multiplier

Your hourly rate should reflect your experience and expertise, as well as the type of consulting services you offer. For example, if you have 10 years of experience and you offer specialized consulting services, you can charge a higher hourly rate than a consultant with less experience and who offers more general consulting services.

Your value multiplier should reflect the value you provide to your clients. For example, if you can help your clients to achieve significant results, you can charge a higher value multiplier.

Here is an example of how to use the formula:

Consultant: Experienced consultant with 10 years of experience offering specialized consulting services

Hourly rate: $200 per hour

Value multiplier: 2

Consulting rate: $200 per hour * 2 = $400 per hour

Can a consulting business be profitable?

Yes, a consulting business can be profitable. In fact, consulting is one of the most profitable industries in the world. According to a report by IBISWorld, the average profit margin for consulting businesses is 20%. This means that for every $100 in revenue, consulting businesses generate $20 in profit.

There are a number of factors that contribute to the profitability of consulting businesses. First, consultants are able to charge high fees for their services. Second, consulting businesses have relatively low overhead costs. Third, the demand for consulting services is high, and it's only expected to grow in the coming years.

Of course, not all consulting businesses are successful. Some consultants struggle to find clients or to charge high enough fees. Others may not be able to deliver the results that their clients expect. However, for consultants who are able to overcome these challenges, the potential rewards are great.

Here are some tips for increasing your chances of success as a consultant:

Specialize in a high-demand area of consulting. This will allow you to charge higher fees and attract more clients.

Build a strong reputation and network of clients. This will help you to generate word-of-mouth referrals and land new clients.

Market your services effectively. Make sure that potential clients know about your services and how you can help them.

Deliver high-quality results. This is the most important thing you can do to ensure that your clients are satisfied and that they continue to use your services in the future.

How much does it cost to start a consulting business?

The cost to start a consulting business can vary depending on a number of factors, such as the type of consulting services you offer, the size of your business and your location. However, in general, you can expect to spend between $10,000 and $50,000 to start a consulting business.

Here is a breakdown of some of the typical start-up costs for a consulting business:

Business formation: $100 to $1,000

Website and domain name: $100 to $2,500

Marketing and advertising: $500 to $5,000

Office equipment and supplies: $500 to $5,000

Professional liability insurance: $500 to $1,000

Other miscellaneous expenses: $500 to $5,000

Total start-up costs: $10,000 to $50,000

You can reduce your start-up costs by working from home, using free or low-cost marketing tools and purchasing used equipment. You can also start your consulting business part-time while you continue to work your full-time job. This will give you a chance to generate revenue and build a client base before you leave your full-time job.

If you need financial assistance to start your consulting business, you may be able to qualify for a loan from a bank or credit union. You may also be able to find investors who are willing to invest in your business.

Which clients to avoid and which to take on?

Here are some tips on which clients to avoid and which to take on in a consulting business:

Clients to avoid

Clients who aren't willing to pay your rates. If a client isn't willing to pay your rates, it's a sign that they don't value your services.

Clients who are unrealistic about their expectations. If a client has unrealistic expectations about what you can achieve, you're likely to set yourself up for failure.

Clients who are difficult to work with. If a client is demanding, rude or disrespectful, it's best to avoid them.

Clients who aren't a good fit for your business. If a client isn't in your target market or if their business isn't aligned with your values, it's best to decline working with them.

Clients to take on

Clients who are willing to pay your rates. This shows that they value your services and are committed to working with you.

Clients who have realistic expectations. This makes it more likely that you will be able to meet their needs and exceed their expectations.

Clients who are easy to work with. This will make the consulting process more enjoyable and productive for both of you.

Clients who are a good fit for your business. This means that they're in your target market and that their business is aligned with your values.

In addition to the above, here are some other factors to consider when deciding which clients to take on:

Your own skills and experience. Make sure that you have the skills and experience to help the client achieve their goals.

The client's budget. Make sure that the client has a budget that's sufficient to cover your fees.

The client's timeline. Make sure that you have the time and resources to meet the client's timeline.

Your gut feeling. If you have a bad feeling about a client, it's best to trust your gut and decline working with them.

It's important to be selective about the clients you take on. By avoiding difficult clients and focusing on good-fit clients, you can set yourself up for success in your consulting business.

Consultant business plan FAQ

What qualifies you as a consultant.

To qualify as a consultant, you need to have the expertise and experience in the area that you're consulting in. You also need to be able to communicate your ideas effectively and build relationships with clients.

How do you start off as a consultant?

How to make 6 figures as a consultant, how do you pay yourself as a consultant, do consultants pay their own taxes, want to create another business plan.

How to create a virtual assistant business plan

How to create a cleaning business plan

How to create an eCommerce business plan

How to create a plumbing business plan

How to create a trucking business plan

How to create a daycare business plan

How to create a food truck business plan

How to create a restaurant business plan

How to create a clothing line business plan

How to create a real estate business plan

How to create a contractor business plan

How to create a bar business plan

How to create a coffee shop business plan

How to create a bakery business plan

Looking for other service business ideas ?

How to start an online business

How to start a consulting business

How to start a fitness business

How to start a fitness clothing line

How to start a makeup line

How to start a candle business

How to start a clothing business

How to start an online boutique

How to start a T-shirt business

How to start a jewelry business

How to start a subscription box business

How to start a beauty business

How to start a car wash business

How to start a baking business

How to start a food prep business

How to start a trucking business

How to start a construction business

How to start a landscaping business

How to start a food business

How to start a vending machine business

How to start a contractor business

How to start a coaching business

How to start an eCommerce business

How to start a dropshipping business

How to start a farming business

How to start a plumbing business

How to start a rental property business

How to start a cleaning business

Check out more service business examples .

Looking to start a business in a specific state?

How to start a business in Arizona

How to start a business in South Carolina

How to start a business in Virginia

How to start a business in Michigan

How to start a business in California

How to start a business in Florida

How to start a business in Texas

How to start a business in Wisconsin

Related Posts

How to create a website from scratch in 11 steps (for beginners)

How to start a business in 14 steps: a guide for 2024

Consulting business names for your firm

Was this article helpful?

• eSignatures
• Product updates
• Document templates

The blueprint for crafting your effective consulting business plan

Keith Rabkin Chief Revenue Officer for PandaDoc

• Copy Link Link copied

Ever tried to put up a tent blindfolded? Navigating the consulting world without a business plan can feel the same overcomplicated.

We created this guide to help you set a strategic, actionable plan on how to operate your early-stage consulting business.

We’ll help you define your services, set achievable and clear goals, and arrange strategies for growth.

So are you ready to pitch your tent with both eyes open?

Key takeaways

• A consulting business plan starts with defining your unique selling proposition (USP). Identify a niche and ideal client by conducting thorough market research and competitive analysis.
• Develop a 12-month marketing strategy with specific targets. Allocate 10-15% of projected revenue to marketing for optimal results.
• Realistically estimate your expenses and revenue based on billable hours/fees and retention rate assumptions.
• Use a proven template rather than starting from scratch to not overlook important elements of the plan.

What is a consulting business plan?

A business plan is a document covering all the aspects of your future consulting business in terms of achieving business goals.

In other words, this specific plan removes the guesswork from how one runs their consulting business.

In the upcoming sections, we’ll explain the key pieces needed to create your business plan.

Your consulting business plan should offer a detailed overview of your consulting firm.

Let’s briefly review the essential sections of the plan and what should be in each of them.

• Executive summary is a short overview of the main points of the document.
• Business overview highlights the mission, vision, history, and services offered by the consulting firm.
• Management team provides bios and expertise of key team members.
• Customer analysis defines target clients, their needs, and how the consulting service solves their problems.
• Industry analysis evaluates the landscape including growth, trends, regulations, and competition.
• Competitive analysis compares the consulting firm’s positioning and offerings versus competitors.
• Marketing plan outlines promotional strategies, lead generation, and metrics.
• Operations plan details the logistics of service delivery, staffing, resources, and customer service principles.
• Financial plan projects costs, revenue, cash flow, and profitability timelines.

Key steps for developing your consulting business plan

Building a thriving consulting business requires thorough planning and a keen eye for detail. Let’s walk through this journey step-by-step.

Step 1. Identify your niche and ideal clients

Kick off your business plan by diving deep into industry research. Look for sectors and trends where there’s a gap that your expertise can fill.

To validate the demand, consider surveying potential clients.

Once you’ve got a handle on that, create a detailed profile of your ideal client , considering factors like their company size, revenue streams, challenges, and objectives.

By the way, focusing on ideal buying personas in B2B (with all these fictitious names, bios, etc.) is one of the greatest sales mistakes, according to Corporate Visions’ findings and Gartner B2B sales research results.

Step 2. Analyze the competition

Understanding your competition is crucial. Examine competitor services offered, how they are marketed, and what they charge.

This is your chance to find your unique selling proposition.

Step 3. Set your rates and service packages

Following the actual industry norms to appoint your consulting fees. However, the price that you use should mirror both your expenses as well as the premium value that your expertise brings to your clients.

Let’s say you work out your overhead costs (utilities, office rental, equipment, etc.) to be roughly $50 per hour, while your hourly work value, which includes your experience and knowledge in this field, is $100.

So, your primary costs in total for an hour of consultation would be $150.

A standard practice in the consulting industry is to have a 100% markup rate on your primary costs.

Applying that rule to your scenario would mean doubling your total cost of $150, which brings your final hourly rate to $300.

Create bundled service packages that combine different services, such as business strategy consultation, market analysis report, and a follow-up action plan. You can offer these at a discounted rate compared to purchasing each service individually.

For example, Bronze is an entry-level package with initial consultation and some basic professional business advice.

Silver is a mid-tier package covering everything from the Bronze plus a detailed action plan for improving business operations.

Finally, the Gold package is a top-tier one complementing what’s in Silver with extended support and follow-ups.

Step 4. Create a marketing and client acquisition strategy

Outline a 12-month marketing strategy that includes a mix of content marketing, events, referrals, and lead-generation campaigns .

Set achievable targets for each quarter, focusing on metrics like leads generated, sales appointments set, and deals closed.

When it comes to budgeting, aim to allocate 10%-15% of your projected revenue or even more to marketing.

According to Gartner, the average startup spends 11.2% of its revenue on marketing.

Step 5. Calculate potential project expenses and revenue

You’ll need to account for various expenses, including staffing, office space, equipment, software, and marketing.

Don’t forget about professional services, travel, and other overhead costs.

On the revenue side, forecast your monthly earnings based on projected billable hours or fixed fees, and assume a client retention rate between 80%-90% .

Extend these projections to create 3 to 5-year profit and loss statements and cash flow forecasts.

Step 6. Plan for sustainability and growth

Your business plan shouldn’t just be a launchpad; it should be a roadmap for long-term growth.

Given that self-funding for growth beyond 20% annually is often unrealistic for most consulting firms, you’ll need a plan B.

One smart move is to establish strategic financial partnerships with investors, banks, or other financial institutions.

These partnerships can offer the capital injection you need to scale your services, break into new markets, or even acquire other businesses. 

More than just a financial lifeline, these partnerships can also provide invaluable business insights and open doors to new opportunities.

Step 7. Use an appropriate consulting business plan template

Having a consulting business plan template is like having a roadmap for your contractual relationships.

It ensures you don’t overlook key elements such as scope, payment terms, and legal considerations.

Consultant Business Plan Template

Used 4999 times

An example of a document outlining your strategy for launching or expanding your consulting firm is a Consultant Business Plan Template. The essential elements include a summary of the company, team, sector, rivals, target audience, and an operations and marketing strategy.

Customize it and review it with a legal advisor to ensure compliance.

Why developing a consulting business plan is so important

Let’s talk about the positive outcomes of planning. A well-defined consulting business plan…

…directs your business operations

A business plan defines your strategy and major goals, simplifying day-to-day decision-making and helping you focus on long-term objectives.

In other words, you know what to do next at any given moment of operating your early-stage consulting business.

…mitigates your risks

With a comprehensive business plan in place, you can anticipate and prepare for potential challenges, turning risks into opportunities.

…attracts investors

If you want to secure investments, the first thing venture investors or business angels will ask you for is (surprise, surprise) a business plan.

Not just any plan, but a detailed, convincing blueprint of your consulting business that highlights growth and potential returns.

Wrapping up

A well-crafted consulting business plan is essential for guiding your strategy, operations, marketing, finances, and growth.

Carefully working through each component will ensure you launch your firm following a clear plan on how to achieve success.

Using business planning platforms like PandaDoc that offer templates and tools can help streamline creating a professional plan.

The software also enables real-time collaboration so you can work seamlessly with colleagues and advisors.

PandaDoc is not a law firm, or a substitute for an attorney or law firm. This page is not intended to and does not provide legal advice. Should you have legal questions on the validity of e-signatures or digital signatures and the enforceability thereof, please consult with an attorney or law firm. Use of PandaDocs’ services are governed by our Terms of Use and Privacy Policy.

Related articles

Proposals 24 min

Document templates 15 min

Sales 9 min

Business Plan Template for Consulting Firm

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Planning to start or grow your consulting firm? Look no further than ClickUp's Business Plan Template for Consulting Firms. Whether you're a startup or an established business, this template has got you covered.

With ClickUp's Business Plan Template, you can:

• Clearly define your mission, objectives, and target market to ensure focus and alignment
• Conduct a thorough competitive analysis to identify your unique value proposition
• Develop financial projections and strategies for acquiring and retaining clients
• Create a roadmap for success that keeps your team on track and accountable

Don't waste time reinventing the wheel. Get started with ClickUp's Business Plan Template for Consulting Firms and take your consulting business to new heights.

Business Plan Template for Consulting Firm Benefits

When a consulting firm uses ClickUp's Business Plan Template, they can enjoy a wide range of benefits that help drive their success:

• Streamlined planning process that saves time and effort
• Clear definition of the firm's mission, objectives, and target market
• Comprehensive analysis of competitors and strategies to stand out in the market
• Accurate financial projections to guide budgeting and resource allocation
• Strategic approach to acquiring and retaining clients
• Alignment within the organization, ensuring everyone is working towards the same goals
• A roadmap for success that can be easily shared and updated as needed

Main Elements of Consulting Firm Business Plan Template

Create a comprehensive and strategic roadmap for your consulting firm with ClickUp's Business Plan Template. This template includes:

• Custom Statuses: Track progress with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring transparency and accountability throughout the business plan creation process.
• Custom Fields: Utilize custom fields like Reference, Approved, and Section to add important information and categorize different sections of your business plan, allowing for easy organization and navigation.
• Custom Views: Access different views such as Topics, Status, Timeline, Business Plan, and Getting Started Guide to gain a holistic understanding of your business plan, track progress, and collaborate seamlessly with your team.
• Collaboration Tools: Leverage ClickUp's collaboration features, including comments, task assignments, and document sharing, to foster teamwork and streamline communication during the creation and refinement of your consulting firm's business plan.

How To Use Business Plan Template for Consulting Firm

Crafting a business plan for your consulting firm is essential for setting clear goals and strategies. By utilizing the Business Plan Template in ClickUp and following these steps, you can ensure that your consulting firm is on the path to success.

1. Define your mission and vision

Start by clearly articulating your consulting firm's mission and vision. What is the purpose of your firm, and what impact do you want to have on your clients? Defining your mission and vision will help guide your decision-making and set the tone for your business plan.

Use a Doc in ClickUp to outline your mission and vision statements and ensure they align with your consulting firm's goals.

2. Identify your target market

To develop an effective business plan, you need to identify your target market. Who are your ideal clients? What industries do you specialize in? Understanding your target market will help you tailor your services and marketing strategies to attract the right clients.

Create custom fields in ClickUp to track key information about your target market, such as industry, company size, and specific pain points.

3. Outline your services and pricing

Next, outline the consulting services you offer and determine the pricing structure for each service. Clearly define the value you provide to clients and how your services differ from competitors. Additionally, consider any additional revenue streams such as training programs or workshops.

Use tasks in ClickUp to create a comprehensive list of your consulting services and set pricing for each service. Add details about the value proposition and differentiate your firm from competitors.

4. Develop a marketing and sales strategy

A successful consulting firm needs a robust marketing and sales strategy to attract clients and generate revenue. Identify the most effective marketing channels for reaching your target market, such as social media, industry conferences, or networking events. Additionally, outline your sales process, including lead generation, client acquisition, and client retention strategies.

Use Automations in ClickUp to streamline your marketing and sales efforts. Set up automated email campaigns and task reminders for important sales activities. Integrate with other tools, such as CRM software, to track leads and measure the success of your marketing campaigns.

By following these steps and utilizing the Business Plan Template in ClickUp, you can create a comprehensive and effective business plan for your consulting firm. This plan will serve as a roadmap for your firm's growth and success in the competitive consulting industry.

Get Started with ClickUp’s Business Plan Template for Consulting Firm

Consulting firms can use this Business Plan Template to streamline the process of creating a comprehensive and effective business plan that aligns with their goals and objectives.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a solid business plan:

• Use the Topics View to organize different sections of your business plan, such as mission, objectives, target market, services offered, competitive analysis, financial projections, and strategies.
• The Status View will help you track the progress of each section, whether it's complete, in progress, needs revision, or still to do.
• The Timeline View will allow you to visualize the timeline for completing each section and ensure that you stay on track.
• The Business Plan View will give you a comprehensive overview of your entire business plan, making it easy to review and make updates.
• The Getting Started Guide View will provide you with step-by-step instructions on how to use the template effectively.
• Utilize the custom fields: Reference, Approved, and Section to provide additional information and track the status of each section.
• Collaborate with team members to brainstorm ideas, gather data, and write content for each section.
• Regularly review and revise your business plan to ensure it remains up-to-date and aligned with your business goals.
• Monitor and analyze your progress to ensure that you are on track to achieve your objectives.
• Business Plan Template for Recreation Centers
• Business Plan Template for Parenting Educators
• Business Plan Template for Germany
• Business Plan Template for E-Commerce Professionals
• Business Plan Template for Cattle Ranchers

Template details

Free forever with 100mb storage.

Free training & 24-hours support

Serious about security & privacy

Highest levels of uptime the last 12 months

• Product Roadmap
• Affiliate & Referrals
• On-Demand Demo
• Integrations
• Consultants
• Gantt Chart
• Native Time Tracking
• Automations
• Kanban Board
• vs Airtable
• vs Basecamp
• vs MS Project
• vs Smartsheet
• Software Team Hub
• PM Software Guide

Consultancy Business Plan Template

Establish your consulting firm's credibility and vision with this sleek and professional business plan template..

Set the stage for success with this polished and expertly designed consultancy business plan template. Address crucial aspects such as value proposition, market analysis, competitive advantage, and SWOT analysis while showcasing your firm's expertise and skillset. The inherently customizable design of the template ensures your business plan takes on your firm's look and feel, creating a strong impression on potential clients and partners.

• Change colors, fonts and more to fit your branding
• Access free, built-in design assets or upload your own
• Visualize data with customizable charts and widgets
• Add animation, interactivity, audio, video and links
• Download in PDF, JPG, PNG and HTML5 format
• Create page-turners with Visme’s flipbook effect
• Share online with a link or embed on your website

Start editing this consultancy business plan template now to map your firm's journey to success or explore a top-notch collection of plan templates , designed to cater to a diverse range of business needs and requirements.

Edit this template with our  Presentation Software

Template Specifications

16 Pages, 8.5” X 11” (US Letter)

Customizable

This template can be fully customized. You can edit content, change image(s), apply custom colors, input your own fonts and logo, and more.

For professional printing, download as PDF with bleed marks. For regular printing, download as image (JPG or PNG) or PDF without bleeds marks. For online use, your plans can also be shared via link or embedded to a site or blog.

Compatibility

Related tags, more like this.

SaaS Marketing Plan

Help your SaaS business flourish with this comprehensive marketing plan template.

Creative Business Plan

Craft an eye-catching business plan with this creative and versatile template.

School - Communication Plan

Prepare for the school year with this eye-catching communication plan template.

Marketing - Communication Plan

Outline your marketing objectives with this professional communication plan template.

Digital - Marketing Plan

Take your digital marketing plan to the next level with this customizable plan template. 

Commercial Development - Project Plan

Effortlessly capture your vision for your commercial development project with this organized and sophisticated plan template.

Retail Development - Project Plan

Make your retail development vision a reality with this contemporary project plan template.

Construction - Project Plan

Make your next construction project a success with this detailed project plan template.

Consulting - Business Plan

Share information about your phenomenal consulting services using this stunning business plan template.

Startup - Business Plan

Launch your startup with a solid plan using this inspiring business plan template.

Daycare - Business Plan

Showcase your daycare business’ fantastic services with this thorough business plan template.

Event Marketing Plan

Ensure a successful and well-attended event with this detailed event marketing plan template.

Hotel Marketing Plan

Create a strategic roadmap for your hotel business using this stunning marketing plan template.

Financial - Project Plan

Launch your fundraiser with the help of this stunning project plan template.

Law Firm Marketing Plan

Create a standout law firm marketing plan using this comprehensive and professional template.

Nonprofit Marketing Plan

Boost your nonprofit organization's visibility and impact with this comprehensive marketing plan template.

Plan Templates by Visme

Every business needs to have a strategic plan in place to be successful. A well-designed plan backed by solid research can help your company achieve its goals, understand the target audience, communicate strategies and tactics, and track the right metrics to analyze performance. Most importantly, it helps you bring your entire team on the same page.

Thanks to Visme’s creative plan templates, it’s easier than ever for any business to create a beautiful and comprehensive document to share with colleagues, team members and top management. From marketing plans and project plans to complete business plan templates, these documents are designed by professionals and contain real information to help you create content that is truly effective.

Customize these plan templates with your own colors, images and text content. Replace the fonts, upload your own brand elements, add your logo and tweak it effortlessly using the drag-and-drop editor. Add or remove pages with a click, insert video, animations and interactive links, tap into millions of free graphic assets, and create a modern plan for a modern business.

Create Your Plan Now

How to write a consulting business plan

If you want to work as a consultant, you'll need a plan. Here's how to create one just for you.

Consultants do things differently

If you’re a self-employed consultant your work isn't like other forms of business. Unlike retailers or manufacturers, you're not making and/or selling tangible products. And unlike service companies, you're not employing a team of people to provide solutions.

Remember you’re not not just selling your time. As a consultant, you will be paid for the skills, knowledge and abilities you've developed over your career.

We have some useful background reading about the benefits of becoming a consultant or contractor , which will help explain how such businesses work. But having decided to become a consultant, what's the next step?

Like all new small businesses, you'll need a plan. That plan will have to cover funding, growth, pay rates, expenses, marketing, equipment costs, training and qualifications. It will also have to cover your goals, and the strategy you'll use to reach them.

Consulting business plans are a little different to other business plans. Here's what you need to know to get your consulting career off the ground.

Who are you writing the plan for?

This is an important question to ask yourself before you start. For most conventional businesses the answer will be "For the bank and investors." That's because small businesses usually need startup funding to get off the ground.

But consultants setting up their own business might not need much funding – if any. It's still important to have a business plan though – not only to clarify the details in your own mind, but also to help you understand the potential risks and rewards.

A good business plan will combine elements of both finance and strategy, but the contents will vary depending on the target audience. We'll take a look at the options next.

A business plan for banks and investors

You may not need funding for capital equipment expenses or office rent. But you might need a loan to tide you over for the first few months, until you have a regular cash flow. The initial period for any new business can be a tough time – money worries will just make it tougher.

You may also decide that you want to make more of an impression by hiring office space, perhaps in a shared office environment. Or you might want funds to spend on marketing and advertising, particularly if you're offering consulting services in a competitive market.

For all of this, you'll need money. You could apply for a bank loan, look for grants, or try other forms of capital-raising such as crowdfunding. Whichever method you choose, any potential investors will want to see the important numbers. That means you'll need to cover the following points in your business plan:

• target market and sector analysis
• business objectives and USP (unique selling proposition)
• startup expenses and assets, including equipment
• overheads and fixed costs
• marketing strategy and budget
• funding requirements, loan collateral and cost of interest
• pay rates, revenue and cash flow projections
• sales forecasts in monthly intervals
• ongoing expenses
• growth projections and strategy

Some of this information will be difficult for you to estimate. It might be even harder for you to present clearly. Use your accounting software to help with figures and to produce professional tables and charts. Then, an accountant can help you include the right information in your plan.

A business plan for you

Of course, you might not need any funding. Perhaps you have enough savings to keep you going for a few months and clients already lined up. Or you may be starting your consulting career after an inheritance or unexpected windfall.

If money isn't an immediate concern, you can afford to be less formal when drafting your plan. That means making sensible predictions and setting goals for yourself, not just financial targets – though you should include those too.

This isn't an exercise in creative writing. The purpose of creating a plan is to help you concentrate on what you want to achieve. Some points to consider include:

Reasons for being a consultant

Why are you doing this? It's important to answer honestly. If the answer is “to make more money” or “because I'm good at what I do” then write that down. Write down all the reasons you can think of, then read them back. Do they sound convincing? Make sure you know your true motivation, as it will help you focus on your goals.

Consulting can mean you have an irregular income. Sometimes you might be busy, other times less so. It makes sense to keep some money in savings accounts, especially if you'll be paying tax at the end of the year instead of while you're earning.

Relationship risks

Think about the impact of consulting on your family or friends. Consultants often work irregular hours, sometimes from home, and they might be working at weekends. That can put a strain on relationships. Be realistic about this and set boundaries around when and where you will work.

Which clients to avoid and which to take on

You will already have an idea of the types of client you don't want to work for, because you know the industry you work in. For example, known late-payers can damage your cash flow so it's sensible to avoid them where possible. Look for clients who are reliable, as they’ll help make your business a success. Know that you can let go of clients who are more trouble than they're worth.

Training and certification

In many industries, especially IT, it's important to keep your skills up to date. But your clients are unlikely to pay for you to go on training courses – that's an expense you'll have to cover yourself. How will you stay up to date? Think about industry magazines, websites, forums, news feeds, conferences, courses, distance learning, peer groups and self-teaching strategies.

Personal goals

Perhaps you're planning to be a consultant for the rest of your working life. Maybe you want to do it for a couple of years and then move back in-house as an employee. Or you might want to start employing other consultants at some stage and build up an agency – maybe even sell it. It doesn't matter what your personal goals are, as long as you have some. Write them down and bear them in mind when making big decisions.

What to do with your profits

This is a good opportunity to think about how much money you want to make . Consider how much you will charge and what you will do with your commission. For example you may decide to use 50% to cover costs, pay yourself with 30% and put 20% back into your business.

Some of this information would be inappropriate to include in a financial business plan for banks or investors. But it can be very helpful in guiding you through the early part of your consulting career.

Five top tips for writing a good consulting business plan

Business plans can be difficult documents to write. If you've never done it before, thinking clearly and logically about your business strategy may not be easy. Here are some tips to help you succeed:

1. Write the first draft

Don't worry about grammar, structure or neatness. Just get the thoughts out of your head and onto the paper or screen. Some people find this easier to do in an informal setting, such as a library or café.

2. Do your research

Understand the market you're going to be working in. Get to know all the details, as it'll help you write a more effective consulting business plan.

3. Identify your USP

That's your unique selling proposition. Why should companies hire you and not one of your competitors? Think carefully about what you're particularly good at, then use that as a basis for marketing yourself.

4. Get feedback

Talk to your peers, friends, previous business associates and potential customers. Show them your plan and listen to their feedback.

5. Keep it simple

Don't write dozens of pages. You'll bore the investors and your plan will end up on a pile where nobody will ever look at it again – including you. Stick to the important points.

Update your business plan regularly

A business plan isn't a static document. It should change and evolve over time as your business grows. You will learn a great deal in your first few months working as a consultant, and that knowledge should be applied to your business plan. It's a good idea to review your plan every month.

You may find that some of what you initially wrote turns out to have been misguided, inaccurate or just plain wrong. That's normal. Nobody can predict every step a business will take. The important thing is to learn as you go along – and make use of that knowledge to improve your plan.

Plan for consulting success

A consulting business plan is written as much for you, the consultant, as for anyone else. The point of writing it is to concentrate on what's important. That clarity is what will help you succeed.

So don't look at a business plan as just another box to be ticked. It's a fundamental process when starting any business, particularly a consulting business where you will need initiative and drive to succeed.

Take the time to write a proper business plan, and keep it regularly updated as your business grows. You can use our free business plan template . You'll find it an invaluable guide to becoming a successful consultant.

Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.

Download the business plan template

Fill in the form to get a free business plan template as an editable PDF. We’ll send a one-pager and a multi-pager to choose from.

Privacy notice .

Start using Xero for free

Access Xero features for 30 days, then decide which plan best suits your business.

• Try Xero for free
• See all features

How To Write A Consulting Business Plan

Creating a business plan is essential for any business, but it can be especially helpful for consultants who want to establish their credibility and get ahead in the industry.

A well-crafted business plan not only outlines your vision for the company but also provides a step-by-step process of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article will provide an overview of the key elements that every consultant should include in their business plan.

Download the Ultimate Consulting Business Plan Template

What is a Consulting Business Plan?

A consulting business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons why you will be profitable, how you can succeed in your market, what will set your product or service apart from others, and includes information about your team members, if applicable, to convince investors and lenders (if needed) that you have what it takes to make your venture successful.

Why Write a Consulting Business Plan?

A consulting business plan is required for banks and loan companies, and it is often requested by investors. This document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Consulting Business Plan

The following are the key components of a successful consulting business plan:

Executive Summary

The executive summary of a consulting business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your consulting firm
• Provide a short summary of the key points of each section of your business plan.
• Organize your thoughts in a logical sequence that is easy for the reader to follow.
• Include information about your company’s management team, industry analysis, competitive analysis, and financial forecast.

Company Description

This section should include a brief history of your company. Include a short description of how it all started, and provide a timeline of milestones the company has achieved.

If you are just starting your consulting business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your consulting firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a consulting business plan. Conduct thorough market research to determine industry trends, identify your potential customers, and the potential size of this market. 

Questions to answer include:

• What part of the consulting industry are you targeting?
• Who are your competitors?
• How big is the market?
• What trends are happening in the industry right now?

You should also include information about your research methodology and sources of information, including company reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or consulting services with the right marketing.

Competitive Analysis

The competitive analysis helps you  determine how your product or service will be different from competitors, and what you are using as your unique selling proposition (USP) that will set you apart in this industry.

Complete a SWOT Analysis. Your SWOT analysis should include:

• Strengths : what are your strengths?
• Weaknesses : what are your weaknesses?
• Opportunities : how can you take advantage of competitive weaknesses and strike back at them with your strengths and possible new product or service offerings?
• Threats : what are the potential threats to your company? How can you prepare for them? What can you do to mitigate potential risks?

You will then use this information to develop your own competitive strategy. Determine your competitive advantage and how you will differentiate your business from these competitors.

Marketing Plan

Your consulting marketing plan is where you determine how you are going to reach your target customer(s). Your marketing strategy should be clearly laid out, including the following 4 Ps.

• Product/Service : Make sure your service offering is clearly defined and differentiated from your competitors, including the benefits of using your service.
• Price : How do you determine the price for your service? You should also include a price strategy that takes into account what customers will be willing to pay and how much the competition within your market charges.
• Place : Where will your customers find you? What channels of distribution will you use to reach them?
• Promotion : How will you reach your target market? You can use social media or write a blog, create an email marketing campaign, post flyers, pay for advertising, launch a direct mail campaign, etc.

You should also include information about your paid advertising budget, including an estimate of expenses and sales projections.

Operations Plan

The operations plan should include the following information:

• How will you deliver your service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Management Team

Include a list of team members including names and titles, as well as their expertise and experience relevant to your specific consulting industry. Include brief biography sketches for each team member.

Financial Plan

Now include a complete and detailed financial plan. This is where you will need to break down your expenses and revenue projections for the first 5 years of operation. This includes the following financial statements:

Income Statement

Your income statement should include:

• Revenue : how will you generate revenue?
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the service offering.
• Net Income (or loss) : once expenses and revenue are totaled and deducted from each other, what is the net income or loss? 

Sample Income Statement for a Startup Consulting Firm

Balance Sheet

Include a balance sheet that shows what you have in terms of assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Consulting Firm

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Income : all of the revenue coming in from clients.
• Expenses : all of your monthly bills and expenses. Include operating, marketing and capital expenditures.
• Net Cash Flow : the difference between income and expenses for each month after they are totaled and deducted from each other. This number is the net cash flow for each month.

Using your total income and expenses, you can project an annual cash flow statement. Below is a sample of a projected cash flow statement for a startup consulting business.

Sample Cash Flow Statement for a Startup Consulting Firm

You will also want to include an appendix section which may include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• A list of your hard assets and equipment with purchase dates, prices paid and any other relevant information
• A list of your soft assets with purchase dates, prices paid and any other relevant information
• Biographies of the key employees listed in the executive summary section above.
• References to people you have done business with who are willing to confirm their positive business holdings with your company.

Writing a good business plan gives you the advantage of being fully prepared to launch and grow your consulting company. It not only outlines your business vision but also provides a step by step process of how you are going to accomplish it. Sometimes it may be difficult to get started, but once you get the hang of it, writing a business plan becomes easier and will give you a sense of direction and clarity about your consulting company.  

Finish Your Consulting Business Plan in 1 Day!

Wish there was a faster, easier way to finish your consulting business plan?

With our Ultimate Consulting Business Plan Template you can finish your plan in just 8 hours or less!

8 Free Consulting Templates

Download Now

Access 8 templates for consultants in The Complete Consultant's Success Kit.

In this Consulting Kit, you'll get these 8 templates:

• Management Consulting Plan Template
• Business Plan Template
• Marketing Plan Template
• Sales Plan Template
• New Client Onboarding Checklist
• Consulting Plan Presentation Template (PPT)
• SWOT Analysis Template
• Porter's Five Forces Analysis Template

Templates to Delight Your Consulting Clients

As your consulting business goes, the need to become more organized and process-focus grows. 

In this kit, we've compiled eight templates you can use to delight your clients.

For your planning and onboarding, we've included a consulting planning template, a presentation template, and an onboarding checklist. 

For researching, we've included a SWOT analysis template and a Porter's Five Forces template. 

For your clients, we've included a sales, marketing, and business plan template. 

Download now to get started!

Frequently Asked Questions (FAQs)

What is a consulting business plan.

A consulting business plan is a tool that helps consultants develop their business. HubSpot's Consulting Business Plan Template provides tips that make it easy to learn how to write a consulting business plan with an effective structure:

• Executive summary
• Company description
• Product and service line
• Market analysis
• Marketing plan
• Financial considerations
• Download HubSpot's Free Consulting Business Plan Template for more items...

What is a consultancy plan?

A consulting proposal is designed to demonstrate your knowledge and expertise in a particular field. It provides an outline of the specific services you provide, as well as some estimates on how long it might take to complete those tasks.

Why do I need to fill out the information requested?

We will always keep your personal information safe..

We ask for your information in exchange for a valuable resource in order to (a) improve your browsing experience by personalizing the HubSpot site to your needs; (b) send information to you that we think may be of interest to you by email or other means; (c) send you marketing communications that we think may be of value to you. You can read more about our privacy policy here .

How do I write a consulting offer?

When you're trying to find consulting, it's important to know how to write a proposal. You should start with a cover page that lists your name, the prospective client's name and the date of submission. Then, you'll want an executive summary that covers the client's challenges, how you plan to solve them and what metrics or benchmarks you'll use for success.

Is this really free?

Absolutely.

Just sharing some free knowledge that we hope you’ll find useful. Keep us in mind next time you have marketing questions!

How do you structure a consulting project?

HubSpot's consulting templates were made for consulting businesses that want to be more organized and process-focused. For planning, we have a template for consulting planning, presentation, and onboarding checklist. For research, we have SWOT analysis and Porter's Five Forces templates. And finally for clients, there is a sales marketing template.

How do I write a business plan for a consulting business?

Using a business plan template tailored for consulting businesses:

• Write the first draft. Don't worry about grammar, structure or word choice.
• Identify your unique selling proposition to help sell yourself as an expert in that field of work
• Get feedback on your business plan

Get the consulting templates.

Download the free templates.

All fields are required.

Easily create great, effective landing pages for free

• Customer Reviews
• Net 30 Account
• Wise Services
• Steps & Timeline
• Work at a Glance
• Market Research at a Glance
• Business Plan Writing Services
• Bank Business Plan
• Investor Business Plan
• Franchise Business Plan
• Cannabis Business Plan
• Strategic Business Plan
• Corporate Business Plan
• Merge and Acquisition Business Plan (M&A)
• Private Placement Memorandums (PPM)
• Sample Business Plans
• Professional Feasibility Study
• PowerPoint Presentations
• Pitch Deck Presentation Services
• Business Plan Printing
• Market Research
• L-1 Business Plan
• E-2 Business Plan
• EB-5 Business Plan
• EB-5 Regional Centers
• Immigration Attorneys
• Nonprofit Business Plan
• Exit Business Planning
• Business Planning
• Business Formation
• Business License
• Business Website
• Business Branding
• Business Bank Account
• Digital Marketing
• Business Funding Resources
• Small Business Loans
• Venture Capital
• Net 30 Apply

Sample Business Plan for Consulting Firm

Executive Summary Of Sample Business Plan for Consulting Firm

Sample Plan 5 is an innovative management consulting firm business plan offering a variety of business solutions to clients across a broad cross-section of industries. From financial services to operations optimization to managing organization growth, Sample Plan 5 is adept at effectively managing a variety of client projects.

Founded by The Owner, the organization is in the midst of an aggressive expansion phase with client acquisition and profit growth being two of the primary objectives.

As the economy continues to rebound from what analysts agree was the deepest economic condition in nearly a century , organizations of all sizes will be in need of the types of services that are offered through Sample Plan 5.

The organization has already developed a strong reputation in the industry for the delivery of quality services that positively impact the client.

Moving forward, The Owner plans to leverage these experiences along with her vast professional network amassed over the course of her career to strengthen the client portfolio and improve the year-to-year profit standing of the firm.

Useful Resource:  How to write an executive summary for a business plan

Financial Objectives

The following table and graphs illustrate the financial goals of Shade Station during the next five years. The financials are explained in detail throughout the duration of the plan.

To see the complete financial plan of consulting business plan click here .

Pro Tips: Learn how to create a financial plan for business plan by pros.

Industry at a Glance

The industry is composed of companies that provide advice and assistance to organizations on issues ranging from strategic and organizational planning to financial budget planning. 

Although sample business plan for consulting firm is a relatively new industry, major consulting firms are among the most respected businesses in the world, and their advice is routinely sought by the corporate and governmental sectors. 

In the five years that have led up to 2011, IBISworld .com estimates that industry revenue increased at an average annual rate of 0.7% to $165.5 billion.

Compared with the industry’s overall growth during the past 10 years. this rate is somewhat sluggish. reflecting the extent of the recent economic downturn. 

The recession’s effect on the industry caused sales to plummet by 3.6%. LH in addition to decreasing revenue. firms laid-off employees. causing industry employment to fall by 7.0% over the course of the last two years.

Click here to read more about the industry at a glance  and sample business plan for consulting firm.

Projected Industry Growth

The Consulting Industry is currently in the mature stage of its life cycle. Over the five years leading up to 2016, research gathered via IBISworld .co m shows that the industry’s contribution to the overall economy is projected to grow at 2.5% annually. This is roughly in line with GDP growth over the same period. 

Like many industries, the Consulting industry’s growth has been slowed by the recent recession. Furthermore, more corporations are keeping consulting services in-house and hiring fewer consultants.

As a result, the industry’s growth is expected to remain below the levels experienced in the past. The benefits of consultants on human resources and management strategy are becoming increasingly accepted by the business community. 

Some businesses view outside consultants as a necessity when providing impartial advice. Although consultants have been increasingly taken 1n­ house, businesses are still hiring outside consultants to improve their bottom lines.

To read more about the projected growth of the industry click here .

Key External Drivers

For more information about external drivers , click here .

What follows is a listing of key objectives for Sample Plan 5.

1. Client portfolio expansion

The Owner has set client portfolio expansion as one of the primary objectives for this phase of business growth and development. The founder will aggressively pursue this objective, projecting to add no less than x clients during the course of the next calendar year.

2. Increased revenues

Founder The Owner has set a goal of no less than x worth of revenues being generated over the course of the next calendar year. Through a diverse suite of services and stellar delivery, this goal is easily attainable and will be the catalyst that propels the firm towards future revenues and profits.

3. Diversify client portfolio

The diversity of services gives The Owner the ability to develop a diverse client portfolio which will be another of the primary objectives. By doing this the organization in effect insulates the profit position from the cyclical nature of the economy and protects long-term growth prospects.

For a complete guide for key objectives for  sample business plan for consulting firm  here .

SWOT Analysis

What follows is a listing of the core strengths and weaknesses of the Alice Cardenas Consulting Company.

Funding:  The lone weakness in what has proven to be an otherwise sound business model and approach would be a lack of funding. Founder The Owner is confident that if a suitable funding source is secured, she can position the organization to become one of the industry’s true market leaders.

Click here for complete detail of the SWOT analysis .

To date Sample Plan 5 has relied primarily on word of mouth networking and the Internet to drive the organization’s marketing message. 

These two elements will remain the core of the marketing model with enhancements made to each that strengthen the market position and increase the volume of qualified business opportunities. 

The organization currently has a website but plans are to totally revamp the current website and develop a more appealing presence using state of the art web development technologies.

In addition to the improved website, the organization will also aggressively integrate social networking into the marketing efforts leveraging both Facebook.com and Twitter.com as well as an interactive online blog, managed by founder The Owner. 

Rounding out Sample Plan 5 marketing model will be an improved networking component as the founder is committed to expanding her professional network by becoming actively involved in the local business and social communities.

You can read more about sample business plan’s marketing by  downloading it.

Balance Sheet

The projected balance sheet for Sample Plan 5 is shown in the table below.

To view the full projected balance sheet, click here .

Our free real sample business plan pdf will show you how to write a plan that looks as elegant and professional as this one.

Click here to view an example of consulting business plan for consulting firm. Each business plan is professionally written by our MBA business plan writing consultant and is developed in close collaboration with the customer.

Need Nearest Business Plan Consultant

Looking for a professional business plan consultants near me ? Contact us to achieve your company’s goals and get funded.

Download The Consulting Firm Business Plan PDF​

Sample Plan 5 is an innovative  management consulting company business plan that offers a wide range of business solutions to clients in a broad variety of sectors.

Quick Links

• Investor Business Plans
• M&A Business Plan
• Private Placement
• Feasibility Study
• Hire a Business Plan Writer
• Business Valuation Calculator
• Business Plan Examples
• Real Estate Business Plan
• Business Plan Template
• Business Plan Pricing Guide
• Business Plan Makeover
• SBA Loans, Bank Funding & Business Credit
• Finding & Qualifying for Business Grants
• Leadership for the New Manager
• Content Marketing for Beginners
• All About Crowdfunding
• EB-5 Regional Centers, A Step-By-Step Guide
• Logo Designer
• Landing Page
• PPC Advertising

• Business Entity
• Business Licensing
• Virtual Assistant
• Business Phone
• Business Address
• E-1 Visa Business Plan
• EB1-A Visa Business Plan
• EB1-C Visa Business Plan
• EB2-NIW Business Plan
• H1B Visa Business Plan
• O1 Visa Business Plan
• Business Brokers
• Merger & Acquisition Advisors
• Franchisors

Proud Sponsor of

• 1-800-496-1056

• (613) 800-0227

• +44 (1549) 409190

• +61 (2) 72510077

Consulting Business Plans

Agricultural consultants business plan.

O'Connor & Partners offers management consulting to industrial-biotechnology, chemical,utility, and agricultural companies producing chemicals and energy from annually renewable feedstocks.

Architectural Engineering Business Plan

Pyramid Engineering brings four experienced engineers together to form a complete design team, offering services to governments, developers, and architects throughout the Northeast.

Auditing and Consulting Business Plan

Artemide Auditing & Consulting AG, an established Swiss company, provides specialized auditing, consulting, and investigative business services to individuals, investors, and small and medium business

Business Analysis Publishing Business Plan

The Wonderkind offers subscribers business/investment analysis from motivated business students via Internet forums and hard-copy publications.

Business Consulting Business Plan

Growth Management and Strategies serves the needs of small business clients that are in need of logistical, technical, and business strategy services.

Business Support Insurance Business Plan

Ideal Business Support Services is an outsource provider of support services to Insurance Agents.

Computer Consulting Business Plan

Calico Computer Consulting is a start-up sole proprietorship consulting business that provides technical assistance to local business, small office, and home office computer users.

Consulting Planning Business Plan

Business Solutions Consulting, is a start-up business offering full-cycle, business-to-business planning consulting.

Consulting Seminars Business Plan

Seminars is a start-up consulting company offering business planning training.

Engineering Consulting Business Plan

StructureAll Ltd. is a home office start-up consulting firm in Yellowknife, Northwest Territories, that specializes in structural engineering services.

Human Resources Consulting Business Plan

Human Capital Maximizers is a human resources consulting company, serving emerging companies market.

Import Export Business Plan

Visigoth Imports will provide complete import/export brokerage services including purchase contracts, shipping, warehousing, and delivery scheduling.

Integrated Communications Business Plan

Aero Technologies, Ltd., is a start-up company that offers high-tech communications systems to businesses in Botswana.

Investment Consulting Business Plan

Vista Investors is a start-up investment management firm, whose hallmark investment product will be the Vista Total Market Equity strategy, which will initially be offered through a mutual fund.

Management Consulting Business Plan

Coaching Company is a new start-up of a national management consulting franchise. The owner/operator will run seminars and one-on-one coaching for small business leaders with help from the national or

Office Consulting Business Plan

Office Space Solutions is a consulting firm specializing in the setup, or restructuring, of office space utilization, and work flow efficiency.

Scholarship Consulting Business Plan

ScholarshipAssist is a start-up business that assists college-bound students with their search for scholarship money.

Seminar Business Plan

Advanced Linguistic Pontificators are presenters of reading and time/stress management seminars and training.

SOHO Computer Consulting Business Plan

Creative Concepts Computer Design offers consulting services focused on the computer system needs of small business offices and home office users.

Personal Shopping Services Business Plan

Buy the Time is a start-up personal shopping service based in Seattle, Washington.

Technology Investment Business Plan

The Center for Technology and Investment is devoted to bringing investment in technology within reach of rural small business owners.

UK High Tech Consulting Business Plan

Acme Consulting--UK is a start-up company in the United Kingdom that provides consulting services to companies marketing high-technology products in international markets.

Wedding Consultant Business Plan

TLC Wedding Consultants will offer an all-inclusive, one-stop wedding planning service.

Life Coaching Business Plan

SummitRise Coaching helps mid-career professionals find their purpose and navigate career transitions. Our tailored coaching programs provide the insights, confidence, and strategies to transform your life and open doors to new experiences.

Consultants need business plans too! Check out these sample business plans for consultants and consulting related businesses. They’ll help you format your plan, get the details right, and give your business the best possible chance for success.

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

Sample Consulting Firm Business Plan

Writing a business plan is a crucial step in starting a consulting firm. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring consulting firm business owners, having access to a sample consulting firm business plan can be especially helpful in providing direction and gaining insight into how to draft their own consulting firm business plan.

Download our Ultimate Consulting Firm Business Plan Template

Having a thorough business plan in place is critical for any successful consulting firm venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A consulting firm business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The consulting firm business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your consulting firm as Growthink’s Ultimate Consulting Firm Business Plan Template , but it can help you write a consulting firm business plan of your own.

Consulting Firm Business Plan Example – InsightAdvantage Consultants

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

Welcome to InsightAdvantage Consultants, our new consulting firm rooted in the vibrant landscape of San Francisco, CA. Born out of a vision to fill the void for high-quality local consulting services, our mission is dedicated to offering unparalleled consulting solutions tailored to the unique needs of businesses in our community. Specializing in strategic planning, management consulting, and financial advisory, we craft personalized solutions that empower our clients to navigate their specific challenges and seize opportunities for growth. With our firm strategically located in San Francisco, we not only ensure our services are highly relevant and specialized for the local market but also contribute actively to the local business ecosystem, making us the go-to consulting firm in the area.

Our success at InsightAdvantage Consultants is driven by a blend of factors. The wealth of experience brought by our founder, who has a proven track record in the consulting industry, sets a solid foundation for our operations. Coupled with our commitment to superior consulting expertise, we stand out as a leader in the field. Our specialized understanding of the San Francisco market further cements our position as the preferred local consulting partner. Since our launch in January 2024, we’ve hit several key milestones, including establishing our brand identity, securing a prime location for our operations, and structuring our business as an S Corporation ready for growth. These accomplishments underscore our readiness and enthusiasm to empower local businesses towards success.

The Consulting Firm industry in the United States, currently valued at over $250 billion, exhibits a robust demand across various sectors, including healthcare, technology, and finance. With an expected annual growth rate of 3-4%, the industry is on a trajectory of steady expansion. A notable trend is the emergence of specialized niche consulting firms like InsightAdvantage Consultants, which cater to specific business needs with highly targeted expertise and solutions. This trend aligns with our focus on the San Francisco market, positioning us to leverage the increasing demand for specialized consulting services in the region.

InsightAdvantage Consultants targets a diverse customer base, starting with local residents to establish a strong community presence. We also focus on small to medium-sized enterprises (SMEs) and tech startups in San Francisco, offering them tailored consulting services to address their unique challenges. By providing strategies for growth, efficiency improvements, and competitive positioning, we aim to support the backbone of the local economy and the dynamic tech startup sector with agile, innovative solutions that drive sustainable success.

Our main competitors include Run Right Business Consulting, with their tailored services and deep local market understanding; Piedmont Avenue Consulting, specializing in marketing and branding strategies; and BookSoEasy, which combines business consulting with technological solutions. Despite the strengths of these firms, InsightAdvantage Consultants remains unmatched in our blend of industry experience, innovative strategies, and deep local market insights. Our diverse team of industry veterans and young innovators enables us to offer solutions that are both time-tested and infused with fresh, forward-thinking ideas. This unique combination, along with our strategic location in San Francisco, positions us as a leader in the consulting industry.

InsightAdvantage Consultants offers a comprehensive suite of services, including Strategic Planning, Management Consulting, and Financial Advisory, each designed to meet our clients’ diverse needs. Our pricing strategy is tailored to reflect the value and customization of our services, with prices varying based on scope and complexity. To promote our offerings, we employ a robust digital marketing strategy, leveraging social media, SEO, and email campaigns, complemented by content marketing to position us as thought leaders. Networking events, referral programs, and targeted advertising campaigns further amplify our visibility and attract a broad spectrum of clients.

Our operations at InsightAdvantage Consultants are centered around key processes such as client communication, market research, strategy development, project management, and quality assurance, to name a few. We are committed to continuous learning and professional development to stay ahead of industry trends. In the coming months, we aim to achieve several milestones, including securing initial client contracts, achieving operational efficiency, and building a strong local network. These efforts are all geared towards ensuring our firm’s success and sustainable growth.

At the helm of InsightAdvantage Consultants is Lucas Jackson, our President, who brings a wealth of experience and a proven track record from the consulting industry. His expertise in strategic planning, operational efficiency, and business development is invaluable to guiding our firm towards achieving its strategic goals. Lucas’s leadership and deep market understanding ensure we are well-equipped to navigate the industry landscape and achieve lasting success.

Welcome to InsightAdvantage Consultants, a new consulting firm based in the vibrant city of San Francisco, CA. As a local consulting firm, we stand out in a landscape that previously lacked high-quality local consulting services. Our mission is to bridge this gap and offer unparalleled consulting solutions that cater specifically to the needs of businesses in our community.

At InsightAdvantage Consultants, we specialize in a range of services designed to empower businesses to achieve their goals. Our offerings include strategic planning, which helps businesses chart a course for success in an ever-changing market. We also provide management consulting to streamline operations, enhance efficiency, and foster leadership within teams. Additionally, our financial advisory services are tailored to help businesses optimize their financial strategies for growth and stability. Each of these services is crafted with our clients’ success in mind, offering personalized solutions that address their unique challenges and opportunities.

Our firm is proudly based in San Francisco, CA, serving customers within this dynamic city. This strategic location not only allows us to be close to our clients but also to be an integral part of the local business ecosystem. By focusing on serving San Francisco businesses, we ensure that our services are highly relevant and tailored to the specific needs of companies operating in this unique market.

InsightAdvantage Consultants is uniquely qualified to succeed for several reasons. Firstly, our founder brings valuable experience from previously running a successful consulting firm, ensuring that we have the knowledge and skills necessary to deliver exceptional results. Moreover, we pride ourselves on offering superior consulting expertise compared to our competition, setting us apart as a leader in the field. These factors, combined with our deep understanding of the local market, position us as the go-to consulting firm in San Francisco.

Since our inception on January 5, 2024, InsightAdvantage Consultants has achieved several milestones. We have successfully established our brand, starting with the design of our logo and the development of our company name, which resonate with our vision and values. Furthermore, we secured a prime location that not only serves as our base of operations but also reflects our commitment to being an accessible and integral part of the local business community. As a S Corporation, we are poised for growth and are excited to continue building our legacy as we serve and empower businesses in San Francisco.

The Consulting Firm industry in the United States is a thriving sector with a significant market size. Currently, the industry is estimated to be worth over $250 billion, showcasing the high demand for consulting services across various sectors such as healthcare, technology, finance, and more.

Market research indicates that the Consulting Firm industry is expected to experience steady growth in the coming years. With an annual growth rate projected to be around 3-4%, the industry is set to reach new heights as businesses increasingly seek out expert advice and guidance to navigate complex challenges and drive growth.

One of the key trends in the Consulting Firm industry is the rise of specialized niche consulting firms, such as InsightAdvantage Consultants. These firms offer tailored services to specific industries or business needs, providing clients with highly targeted expertise and solutions. This trend bodes well for InsightAdvantage Consultants, as their focus on serving customers in San Francisco, CA, positions them to capitalize on the growing demand for specialized consulting services in the region.

Below is a description of our target customers and their core needs.

Target Customers

InsightAdvantage Consultants will target a diverse range of customer segments, beginning with local residents. This group is essential for establishing a strong community presence and reputation. By focusing on the unique needs and challenges of San Francisco’s residents, InsightAdvantage Consultants will tailor services to offer practical, impactful advice and solutions.

Small to medium-sized enterprises (SMEs) within the city will also form a significant part of InsightAdvantage Consultants’ target market. These businesses, which are the backbone of the local economy, often encounter unique challenges that require specialized consulting services. InsightAdvantage Consultants will provide these companies with strategies for growth, efficiency improvements, and competitive positioning.

Furthermore, tech startups, which are prolific in the San Francisco area, will be another primary customer segment for InsightAdvantage Consultants. This sector is dynamic and requires agile, innovative consulting solutions to navigate rapid growth, funding rounds, and scaling challenges. The firm will offer bespoke services that align with the fast-paced nature of tech startups, helping them to achieve sustainable success.

Customer Needs

InsightAdvantage Consultants caters to the distinct needs of San Francisco residents by delivering high-quality consulting services that align with their diverse ambitions and challenges. Clients can expect tailored solutions that resonate with their unique scenarios, whether they are startups seeking to innovate, enterprises aiming to scale, or individuals pursuing personal growth. This dedication to customization ensures that every strategy is not just a roadmap but a reflection of the client’s vision and potential.

In an environment as dynamic and competitive as San Francisco, customers demand not just advice but actionable insights that can lead to tangible outcomes. InsightAdvantage Consultants rises to this expectation by leveraging cutting-edge research, data analytics, and industry expertise to empower clients with strategies that are both innovative and practical. This approach guarantees that clients not only navigate their immediate challenges but are also equipped for long-term success.

Moreover, InsightAdvantage Consultants understands the value of accessibility and ongoing support for San Francisco’s bustling clientele. Clients have the convenience of engaging with experts who are committed to their success beyond the initial consultation. This includes follow-up services, the provision of resources for implementation, and the availability of guidance through the evolution of their projects or businesses. Such comprehensive support underscores our dedication to not just meeting but exceeding client expectations.

InsightAdvantage Consultants’ Competitors Include the Following Companies

Run Right Business Consulting

Run Right Business Consulting offers a comprehensive suite of services including strategy development, operational improvements, and financial advisory. The firm specializes in serving small to medium-sized businesses across various industries. Their services are tailored to meet the specific needs of each client, ensuring a personalized consulting experience.

Pricing models at Run Right Business Consulting are project-based, with costs varying depending on the scope and complexity of the consulting engagement. This flexibility allows them to cater to a wide range of budgets. The firm reports annual revenues in the mid-range, indicating a stable client base and consistent service delivery.

Located primarily in the San Francisco Bay Area, Run Right Business Consulting has a strong local presence. However, they also serve clients across the United States, leveraging remote consulting capabilities. Their customer segments include startups, established SMEs, and occasionally larger corporations seeking niche expertise.

Key strengths of Run Right Business Consulting include their tailored service approach and deep local market understanding. Weaknesses may include limited international exposure and a narrower service offering compared to larger consulting firms.

Piedmont Avenue Consulting

Piedmont Avenue Consulting focuses on marketing and branding strategies, offering services such as social media management, public relations, and digital marketing. They cater to a diverse clientele, including retail, hospitality, and technology sectors. This specialization enables them to offer deep insights and innovative strategies in these areas.

Their pricing strategy is flexible, offering both retainer-based and project-specific engagements. This allows businesses of varying sizes and budgets to access their services. Piedmont Avenue Consulting’s revenue is competitive, reflecting their strong position in the niche of marketing consultancy.

Based in the San Francisco Bay Area, Piedmont Avenue Consulting maintains a strong local presence while also serving clients nationwide. Their geographic reach is supported by a robust online consulting platform. The primary customer segments include small to medium-sized businesses looking to enhance their market presence and brand visibility.

The firm’s key strengths lie in its specialized focus on marketing and branding, coupled with a strong understanding of digital trends. However, their narrow focus could be seen as a weakness, limiting their appeal to businesses seeking more comprehensive consulting services.

BookSoEasy offers a unique combination of business consulting and technological solutions, with a focus on streamlining operations, improving customer engagement, and enhancing digital presence for their clients. Their services are particularly appealing to the hospitality and retail sectors, where they leverage technology to drive growth and efficiency.

The firm employs a value-based pricing strategy, ensuring clients only pay for tangible improvements and outcomes. This approach has contributed to their competitive positioning in terms of revenue, signaling strong client satisfaction and results-driven service delivery. BookSoEasy operates primarily in San Francisco but has started expanding its services to other major cities across the US.

Their customer base mainly consists of small to medium-sized enterprises seeking to leverage technology for business improvements. BookSoEasy’s strength lies in its ability to integrate consulting services with technological implementation, providing a comprehensive solution to business challenges.

A potential weakness is their sector-specific approach, which might limit their appeal to a broader audience. Additionally, as they expand geographically, maintaining the high level of personalized service that characterizes their San Francisco operations could present a challenge.

Competitive Advantages

At InsightAdvantage Consultants, we pride ourselves on delivering superior consulting expertise compared to our competitors. Our team comprises industry veterans and young innovators, all of whom bring unique perspectives and cutting-edge strategies to the table. This blend of experience and fresh ideas enables us to provide our clients with solutions that are not only time-tested but also infused with innovative approaches. We understand that the landscape of business is ever-changing, and our ability to adapt and foresee shifts in the market sets us apart. Our consultants specialize in various sectors, ensuring that clients receive tailored advice that directly impacts their specific industry challenges and opportunities.

Furthermore, our location in a vibrant city such as San Francisco allows us to stay at the forefront of technological advancements and trends. This geographical advantage complements our commitment to utilizing the latest tools and methodologies in our consultancy services. We leverage local networks and partnerships to offer our clients exclusive insights and opportunities that are not readily available elsewhere. Additionally, our commitment to fostering strong relationships with each client means we go beyond traditional consultancy roles, acting as true partners invested in their success. Our approach is holistic and personalized, ensuring that every strategy we develop is not only innovative but also practical and sustainable in the long run. This unique combination of expertise, innovation, and partnership is what makes InsightAdvantage Consultants a leader in the consulting industry.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

InsightAdvantage Consultants offers a comprehensive suite of services tailored to meet the diverse needs of its clients. With a focus on delivering actionable insights and strategic direction, the firm has positioned itself as a valuable partner for businesses looking to navigate the complexities of today’s market landscape. Among the services offered, Strategic Planning, Management Consulting, and Financial Advisory stand out as core competencies, each designed to address specific areas of client concern.

Strategic Planning is a critical service offered, designed to help businesses define their vision, set achievable goals, and develop a roadmap for success. Clients can expect to engage in deep-dive sessions aimed at understanding their market position, competition, and internal capabilities. The average selling price for Strategic Planning services is typically around $10,000. This price can vary based on the scope and complexity of the project, tailored to meet the unique needs of each client.

Management Consulting is another key service area, focusing on improving organizational performance through the analysis of existing business problems and the development of plans for improvement. InsightAdvantage Consultants leverages industry best practices and innovative strategies to guide leadership teams through transformational changes. Clients opting for Management Consulting services can expect to invest approximately $15,000, depending on the project’s duration and depth.

Lastly, the Financial Advisory service aims to help clients manage their financial strategy, planning, and risk. This service covers a broad spectrum of financial disciplines, including mergers and acquisitions, financial planning, and risk management. With an average selling price of $20,000, this service provides clients with expert advice and insights into optimizing financial performance and achieving long-term financial stability.

InsightAdvantage Consultants prides itself on delivering high-quality, tailored services that drive value and competitive advantage for its clients. By focusing on strategic planning, management consulting, and financial advisory, the firm ensures that it covers a comprehensive range of needs that are crucial for businesses aiming to thrive in the modern economy.

Promotions Plan

InsightAdvantage Consultants employs a comprehensive suite of promotional methods to attract customers, with a keen focus on leveraging the power of online marketing. In the digital age, establishing a robust online presence is non-negotiable, and InsightAdvantage Consultants recognizes this by prioritizing a well-rounded digital marketing strategy. This includes the utilization of social media platforms, search engine optimization (SEO), and email marketing campaigns, all designed to build brand awareness and drive customer engagement.

In addition to these online marketing efforts, InsightAdvantage Consultants also taps into the potential of content marketing. By creating and distributing valuable, relevant, and consistent content, the firm aims to attract and retain a clearly defined audience. This strategy not only positions InsightAdvantage Consultants as thought leaders in the consulting industry but also helps in building trust with potential clients. High-quality blog posts, whitepapers, and case studies will serve as tools to showcase the firm’s expertise and success stories.

Networking events and industry conferences represent another pivotal promotional method for InsightAdvantage Consultants. By actively participating in these gatherings, the firm has the opportunity to connect with potential clients face-to-face, build meaningful relationships, and stay abreast of the latest industry trends. These interactions often translate into business opportunities and collaborations, further amplifying the firm’s reach and influence within the consulting sector.

Referral programs will play a critical role in the firm’s promotional strategy as well. Encouraging satisfied clients to refer others to InsightAdvantage Consultants not only helps in acquiring new customers but also strengthens the firm’s reputation. Offering incentives for referrals demonstrates appreciation for existing clients while simultaneously expanding the customer base.

Lastly, targeted advertising campaigns, both online and offline, will complement the firm’s promotional activities. These campaigns will be carefully crafted to reach potential clients within specific industries or sectors, ensuring that the messaging is relevant and resonates with the intended audience. By employing a mix of traditional advertising mediums and digital channels, InsightAdvantage Consultants aims to maximize its visibility and appeal to a broad spectrum of clients.

In conclusion, InsightAdvantage Consultants employs a diverse range of promotional methods to attract customers, with a strong emphasis on online marketing. By integrating content marketing, networking, referral programs, and targeted advertising into its promotional strategy, the firm is well-positioned to build its brand, engage with potential clients, and achieve sustainable growth in the competitive consulting industry.

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of InsightAdvantage Consultants, there are several key day-to-day operational processes that we will perform.

• Client Communication: Maintain open lines of communication with clients through emails, phone calls, and meetings to understand their needs and provide timely updates.
• Market Research: Conduct continuous market research to stay updated on industry trends, challenges, and opportunities relevant to our clients’ businesses.
• Strategy Development: Develop customized strategies for each client, focusing on their specific goals, challenges, and market position.
• Project Management: Utilize project management tools to track progress, manage deadlines, and ensure that all team members are aligned and accountable.
• Data Analysis: Analyze data from various sources to inform strategies, measure performance, and make data-driven decisions.
• Quality Assurance: Regularly review and assess the quality of our work to ensure that it meets high standards and delivers value to our clients.
• Professional Development: Engage in continuous learning and professional development to enhance our skills and stay ahead of industry changes.
• Networking: Actively participate in local and industry-specific events to build and maintain a strong professional network in San Francisco and beyond.
• Financial Management: Monitor and manage the firm’s finances, including budgeting, invoicing, and financial reporting, to ensure healthy cash flow and profitability.
• Feedback Collection: Solicit feedback from clients post-engagement to identify areas for improvement and strengthen client relationships.
• Marketing and Business Development: Implement marketing strategies and business development activities to attract new clients and retain existing ones.
• Team Collaboration: Foster a collaborative work environment where team members can share ideas, solve problems together, and contribute to each other’s professional growth.
• Compliance and Ethics: Ensure that all business practices comply with local laws and regulations and adhere to the highest ethical standards.

InsightAdvantage Consultants expects to complete the following milestones in the coming months in order to ensure its success:

• Launch Our Consulting Firm : Successfully establish and officially launch InsightAdvantage Consultants, including setting up a fully functional office in San Francisco, CA, and a polished online presence that showcases our value proposition and services offered.
• Secure Initial Client Contracts : Within the first three months, secure at least 3-5 initial client contracts through networking, marketing efforts, and leveraging personal and professional contacts. This will provide an early revenue stream and case studies/testimonials for future business.
• Achieve Operational Efficiency : Streamline business processes, including client onboarding, project management, and billing, to ensure operations are as efficient and scalable as possible. Proper use of technology and software tools should be integrated to support these operations.
• Build a Strong Local Network : Participate in local business events, join relevant associations, and actively engage with the business community in San Francisco. Building a strong local network will be crucial for word-of-mouth referrals and gaining trust within the community.
• Develop a Robust Marketing Strategy : Implement a comprehensive marketing strategy that includes digital marketing (SEO, content marketing, and social media), speaking engagements, and workshops. This strategy should aim to establish InsightAdvantage Consultants as thought leaders in the industry.
• Hire and Train Key Staff : As revenue starts to grow, hire additional consultants and support staff to ensure the ability to scale operations without compromising on the quality of service. Implement a training program to ensure all team members are aligned with the company’s methodologies and values.
• Get to $15,000/Month in Revenue : This is a critical financial milestone that indicates the business is gaining traction. Achieving this goal will likely require a combination of increasing the client base, possibly raising prices for services (based on the value delivered), and ensuring high levels of client satisfaction for repeat business and referrals.
• Establish Partnerships : Form strategic partnerships with other businesses and organizations that can offer complementary services or refer clients, such as law firms, accounting firms, and local business associations. These partnerships can help expand the client base and add value to InsightAdvantage Consultants’ offerings.
• Implement a Client Feedback System : Develop and implement a systematic approach for collecting and analyzing client feedback to continuously improve the service quality and address any areas of concern. This will not only help in refining the services but also in retaining clients and encouraging referrals.
• Evaluate Expansion Opportunities : After achieving a stable client base and consistent revenue growth in San Francisco, begin evaluating opportunities for expansion either by offering additional services or by extending the geographic reach to other cities or regions.

InsightAdvantage Consultants management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Lucas Jackson, President

Lucas Jackson brings a wealth of experience and a proven track record of success to InsightAdvantage Consultants. Having previously helmed a consulting firm, Lucas has demonstrated an exceptional ability to lead, innovate, and drive growth within the consulting industry. His expertise spans strategic planning, operational efficiency, and business development, making him well-positioned to guide InsightAdvantage Consultants towards achieving its strategic goals. Lucas’s leadership skills, combined with his deep understanding of the consulting market, ensure that InsightAdvantage Consultants is not just equipped to navigate the complexities of the industry but is also poised for lasting success.

To reach our growth goals, InsightAdvantage Consultants requires $397,000 in funding. This capital will be allocated across both capital and non-capital investments, including location buildout, equipment, working capital, initial marketing, and staffing. These resources are crucial for establishing our operations, securing a competitive position in the market, and laying a foundation for future growth and profitability.

Financial Statements

Balance sheet.

[insert balance sheet]

Income Statement

[insert income statement]

Cash Flow Statement

[insert cash flow statement]

Consulting Firm Business Plan Example PDF

Download our Consulting Firm Business Plan PDF here. This is a free consulting firm business plan example to help you get started on your own consulting firm plan.  

How to Finish Your Consulting Firm Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your consulting firm business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Consulting Business Plan: 5-Step Plan For A Successful Firm

If you want to start a consulting business , then you need to write your consulting business plan.

I’ve watched countless starry-eyed entrepreneurs “start” their business with a 50-100 page business plan.

They spend weeks — or even months — toiling away at their desk after their 9-5 detailing everything about their future business.

After they’ve written it, they beam with pride.

“This plan is the key to my success in consulting! With this plan, I can’t fail.”

Then, they take their plan out to the real world.

The real world isn’t as perfect and pretty when starting your business.

And that golden business plan? Well, it almost always doesn’t work the way they’d hoped.

All of the projections they made? Naw, not even close.

So they scurry back to their desk to revise the plan — and the cycle continues.

Here’s the truth about consulting business plans…

You don’t need a long, complex business plan.

If your business plan is more than 5 pages, every extra page you write is almost certainly wasting your time.

All you need is a 1-3 page document to cover the foundations of your business.

By the end of this post, you’ll write your 5-part entrepreneurial consulting business plan — and have everything you need to start a successful consulting business.

Let’s begin with the first part: your consulting business model.

1. Consulting Business Model

• “What kind of consulting business do you want to build?”

That’s the first question you want to answer for your consulting business plan.

Understand what type of business you want to build first before you start building it.

Six-Figure Blueprint

That way, you’re building a business to support your lifestyle and not the other way around.

At Consulting Success®, we believe that your business shouldn’t consume your life .

Your consulting business should enrich your life and create a fulfilling lifestyle for you and your family.

For your consulting business model, you have 4 options:

1. Solo Model : The classic independent consultant . Your business is just you (and maybe a few contractors). From delivering projects to marketing and sales, you are responsible for every part of the business.

(To see the pros and cons of each model, see our post on The 3 PROVEN Consulting Business Models .)

2. Firm Model : The typical large consulting firm. Your firm consists of consultants, associations, junior and senior people. Your role starts off as doing a bit of everything — but eventually, your role becomes hiring, training, and managing your team.

3. Productized Model : This model comes out of one of the above models. You identify a particular problem your clients have, and you build your business around solving that problem with a focus on efficiency. This model is all about systems, efficiency, and scale.

4. Hybrid Model : The hybrid model is a mix of the models above. For example, you might offer a productized consulting offer — but also do some solo custom consulting. Once you’ve mastered one of these models, the hybrid model helps you add new products and services to create more revenue.

Pick one of the models above. If you’re unsure about which one to use, start with the solo model. You can always change it in the future. Chances are, your business will evolve in the future anyways.

With your consulting business model selected, let’s move to the next part of your consulting business plan — clarity around your ideal client.

For every hour you spend on planning, you should spend 4 hours on putting your plan into action.

2. Ideal Client Clarity

• “Who is the ideal client my consulting business will serve?”

That’s the second question you’ll answer with your consulting business plan.

This is all about how you’re going to specialize .

As an entrepreneurial consultant, specialization is crucial.

You can’t offer everything to anybody.

You’ll have to begin by choosing a specific type of client to serve — your niche.

A niche is a certain subset of people whom you might potentially serve — SaaS companies, manufacturing, pharmaceuticals, etc.

To find your ideal client, you’ll have to test out different niches.

This is why we teach the Niche Scoring Method in our Clarity Coaching Program .

Using this scorecard, you score each potential niche from 1 to 5 based on the following factors:

• EXPERIENCE . How would you rate your experience with this niche?
• EXPERTISE . How would you rate your status as an expert within this niche?
• RESULTS . How would you rate your confidence that you can deliver results for this niche?
• POTENTIAL . How would you rate this niche’s growth and how willing they are to hire consultants?
• INTEREST . How would you rate your interest in this niche?
• ACCESS . How would you rate your ability to speak with ideal clients in this niche?

In the Clarity Coaching Program for Consultants , we also teach you about the different layers of specialization, how to find and validate your ideal client’s potential, how to do outreach to potential clients, and more.

By going through these exercises, you’ll figure out which niche is best for you to start with.

Picking a niche and defining your ideal client is the foundation on which you’ll build your business — and get clients.

You shouldn’t move on with your consulting business plan until you’ve defined your ideal client.

Once you’ve done that, you can move on to the next part: Magnetic Messaging.

3. Magnetic Messaging

• “What message will get my ideal client’s attention?”

That’s the third question you’ll answer on your consulting business plan.

You’ve picked your business model.

You’ve defined your ideal client.

Now, you’ll write a message designed to get your ideal client’s attention.

We’ve created a formula to make writing this message as simple as possible: Magnetic Messaging.

Here’s the formula:

I help [WHO] to [solve WHAT problem] so they can [see WHAT results]. My [WHY choose me]…

Let’s break each part of the formula down.

• WHO : Who you serve.
• WHAT (Problem): What problem you solve for them.
• WHAT (Result): What result you create for them.
• WHY : Why they should choose you.

Why does this message grab your ideal client’s attention?

• It speaks to who they are.
• It mentions what problem they have.
• It showcases what result they can get.
• It differentiates you from others who might provide a similar service.

When your message contains these 4 elements, it will draw interest from your ideal clients. They’ll want to learn more.

They’ll browse your marketing materials, read your articles, sign up for your email list, and reach out to you for conversations.

Effective messaging is the foundation of your marketing: what you communicate to the marketplace to get your ideal client’s attention.

You won’t write the perfect message on your first try.

But you do need to write a first draft — and actually put it to work in the marketplace.

Once you’ve written down your first magnetic message, it’s time to start planning your strategic offer.

4. Strategic Offers

• “What can I offer my ideal client — and at what price point?”

That’s the 4th question you’ll answer on your consulting business plan.

With clarity around your ideal client and a message that grabs their attention…

…you must create an offer — a service — that solves their problems and gets them the result that they want.

The classic custom consulting service is the “full engagement.”

After you engage in a meaningful sales conversation with your prospective client, you’ll send them a consulting proposal .

In your proposal, instead of including one option, you’ll include three:

Option 1 – $

• Basic offer
• Minimum effort required
• Provides value
• Lowest investment

Option 2 – $$

• Help them reach results quicker than option 1
• Provides more value than option 1 (ideally, without having to spend more time)
• Higher investment

Option 3 – $$$

• If money isn’t an issue
• Best results
• Shortest time to result
• Highest investment

Map out the different options you’ll offer your prospects.

Take a look at the marketing consulting example below for an idea of how the 3 different options might look:

However, we recommend you start with a discovery offer .

A discovery offer is a smaller service (priced at $1.5K to $15K). You design it to get your client a quick, low-risk win.

Your discovery offer helps get your “foot in the door” with the client. Once you get them that quick, low-risk win, they’ll trust your expertise. This will open the door for larger projects with the same client.

Discovery offers are easier to sell, create, and deliver.

Here’s our discovery offer checklist:

• Align with what the buyer wants
• Is a logical first step
• Leads to the next steps
• Ranges between $1.5K to $15K
• Provides tangible benefits (growth, clarity, etc)

Of course, you’ll also have to set your consulting fees .

You can use the hourly method, the fixed-rate method, the value-based method , or the retainer method.

Pricing is an incredibly complex and deep topic. But you’ll have to pick a price to start with and adjust it based on the feedback you get.

Never sell yourself short. Remember: pricing is marketing. If you can deliver your clients results, then charge what you’d feel good about.

Once you’ve mapped out your 3 engagement options and a discovery offer, you’re ready to take your offers to the marketplace — and start winning consulting business.

5. Marketing Engine/Sales Pipeline

• “How am I going to create conversations with my ideal client?”

This is the final question you’ll answer on your consulting business plan.

And it’s where you start to see real results: winning clients, delivering projects, and earning revenue.

However, according to our How To Become A Consultant Study , marketing and sales are where consultants struggle the most.

Your Marketing Engine is what you’re doing every day to get in front of your ideal clients.

Your Sales Pipeline organizes all of the leads who come into contact with you.

Let’s start with your pipeline.

Your pipeline is organized into 6 columns:

• LEAD . You’ve identified the prospective client and have begun reaching out to them to set-up a conversation.
• CONVERSATION . You’ve had a sales conversation with the prospective client.
• PROPOSAL . You’ve sent a proposal to the prospective client.
• WIN . The prospective client has accepted your proposal and you won the business.
• LOSS . The prospective client has declined your proposal and you lost the business.
• NURTURE . Most people you reach out to won’t be ready to buy or make a decision right away. In fact, even people who say ‘No’ to a proposal now, may buy from you later as long as you stay top of mind through your nurture process.

All of your prospective clients fit into one of these 6 categories.

Using a CRM to create and organize this pipeline will help you organize your marketing and sales efforts.

Marketing is what fills up your “lead” column.

Without marketing, you won’t have any leads. And without leads, you won’t have the chance to win new business.

We organize marketing for consultants in 3 different categories:

• Outreach: Reaching out to your ideal clients to initiate conversations.
• Follow-Ups: Following up with your ideal clients to initiative conversations.
• Authority Building : Creating content for your ideal clients that demonstrates your expertise and adds value — and helps create conversations.

A basic Marketing Engine will have you doing a mix of these different methods every day.

Every day, you want to be reaching out to new clients, following up with your leads, and creating content that demonstrates your expertise and adds value.

The type of marketing you focus on also depends on the stage of your business .

If you’re a newer consultant, you’ll rely more on outreach. You don’t have as much of an audience for authority content to work yet.

But if you’re a later-stage consultant, you’ll rely more on content. Your content and consulting website has a farther reach, and can generate leads at scale.

For your business plan, focus on setting up a pipeline that is easy to track, and creating the right marketing habits to fill up your leads column.

At this stage, your plan is done.

It’s time to start taking action.

Imperfect Action: Write Your Entrepreneurial Consultant Business Plan

By answering these 5 questions…

…you’ll write a consulting business plan that enables you to take action.

We’ve included dozens of articles, case studies , and guides on how to answer these 5 questions.

However, in consulting, execution is more important than your plan.

So, use our resources to help answer these 5 questions — and go build your consulting business.

Ready to Take Your Consulting Business to the Next Level?

Apply to join our Clarity Coaching Program , the place where dedicated consultants go to get a personalized plan, strategy, coaching and support to grow a successful consulting business.

If you’re committed and serious about growing your consulting business, then this customized coaching program is for you.

We’ll work hands on with you to develop a strategic plan and then dive deep and work through your ideal client clarity, strategic messaging, consulting offers, fees, and pricing, business model optimization, and help you to set up your marketing engine and lead generation system to consistently attract ideal clients.

Schedule a FREE growth session today to apply for our limited-capacity Clarity Coaching Program by clicking here .

Leave a Comment, Join the Conversation! Cancel reply

Your Email will be kept private and will not be shown publicly.

Privacy Overview

All Formats

Plan Templates

18+ consulting business plan templates.

If you are a consultancy agency dominating a particular niche or possessing some proprietary knowledge, one common occurrence is that you are besieged with service requests from individuals and companies. This may seem to be good for business, but when the majority of such requests for assistance turn out to be dead ends, involving issues people could have solved on their own or with another middleman agency, it will start to represent a drain on your agency’s time and resources. Check out our sample plan templates that can help you draft your own consulting business plan in no time!

Construction Business Plan Template Bundle

• Google Docs

Construction Marketing Business Plan Template Bundle

Consulting Business Plan Template

Business Consulting Business Plan Template

Business Consultant Marketing Plan Template

Human Resources Consulting Business Plan Template

Advertising Consulting Business Plan Template

HR Consulting Business Plan Template

Consulting Sales Plan Template

Business Plan Outline Template

Sample Business Plan

Simple Business Plan Template

Engineering Consulting Business Plan Template

Management Consulting Business Plan Template

Environmental Consulting Business Plan Template

Drafting an Effective Consulting Business Plan

• The Engineering Consulting Business Plan Template lays out the outline of a business plan in a clear, accessible way you can adapt for your own business.
• Executive summary—the fundamental goals and mission of your agency.
• Market analysis —who you are in the business of serving.
• Business description and methodology—nature, scope, and limitations of your service; company ownership.
• Strategy and implementation—your market positioning and competitive strategies.
• See Environmental Consulting Business Plan Template. This example guides clients before they request any consultation to avoid misusing the consultants’ expertise.
• See Computer Consulting Business Plan Template if you specialize in IT systems.
• See Safety Consulting Business Plan Template if you are hired independently as a company’s health and safety team.
• See Management Consulting Business Plan Template for another common collaborative enterprise.

Safety Consulting Business Plan Template

Computer Consulting Business Plan Template

Consulting Firm Business Plan Template

Consulting Services Business Plan Template

Bonus Plan Template for Consultants

General faqs, 1. what is a consulting business plan, 2. what is the role of a business consultant, 3. what are the components of a consulting business plan.

• Mission and vision statement
• Company description
• Products and services offered
• Market analysis and marketing strategy
• SWOT analysis
• Cash flow statement

4. What Are Some Tips To Write a Good Consulting Business Plan?

• Prepare the first draft
• Do your market research
• Identify your unique selling proposition
• Get feedback from peers, previous business associates, and potential customers
• Keep it concise and not lengthy

5. What is the Purpose of a Business Plan?

More in plan templates.

Standard Business Consulting Report Template

Consulting startup business plan template, it consulting business plan template, sample human resources consulting business plan template, auditing and consulting business plan template.

• 7+ Financial Plan Templates
• 10+ Operational Plan Templates
• 9+ Training Plan Templates
• 5+ Shooting Schedule Template
• 11+ School Counselor Lesson Plan Templates in PDF | Word
• 9+ Interdisciplinary Lesson Plan Templates in PDF | MS Word
• 10+ Business Continuity Plan Templates in Google Docs | Ms Word | Pages | PDF
• 18+ Compensation Plan Templates in Google Docs | MS Word | Pages | PDF
• 10+ Executive Bonus Plan Templates in PDF
• 8+ Facility Management Plan Templates in PDF
• 10+ Diversity Recruitment Plan Templates in PDF | MS Word
• 11+ Audit Corrective Action Plan Templates in MS Word | Excel | PDF
• 9+ Recruitment Agency Marketing Plan Templates in PDF
• 10+ Recruitment Marketing Plan Templates in PDF | MS Word
• 10+ Student Recruitment Plan Templates in PDF | MS Word

File Formats

Word templates, google docs templates, excel templates, powerpoint templates, google sheets templates, google slides templates, pdf templates, publisher templates, psd templates, indesign templates, illustrator templates, pages templates, keynote templates, numbers templates, outlook templates.

• Newsletters
• Best Industries
• Business Plans
• Home-Based Business
• The UPS Store
• Customer Service
• Black in Business
• Your Next Move
• Female Founders
• Best Workplaces
• Company Culture
• Public Speaking
• HR/Benefits
• Productivity
• All the Hats
• Digital Transformation
• Artificial Intelligence
• Bringing Innovation to Market
• Cloud Computing
• Social Media
• Data Detectives
• Exit Interview
• Bootstrapping
• Crowdfunding
• Venture Capital
• Business Models
• Personal Finance
• Founder-Friendly Investors
• Upcoming Events
• Inc. 5000 Vision Conference
• Become a Sponsor
• Cox Business
• Verizon Business
• Branded Content
• Apply Inc. 5000 US

Inc. Premium

How to Write a Business Plan for a Consulting Business

There are four key areas that you should focus on when developing a business plan for your consulting business..

If you've found yourself holding a pink slip from your corporate employer or perhaps are just tired of the old 9 to 5 grind, one of the best ways to get back on your feet might be turning your experience and skills into a consulting gig since just about anyone who possesses specialized skills can hang out a shingle of their own. But before you do, you might want to consider taking the time to create a business plan for your new venture, which will not only help you map out the opportunities before you, but also the threats. While business plans doesn't appeal to everyone, especially if you don't ever expect to raise capital for your business, it can be a critical factor in getting your business off the ground, says Jennifer Leake, a certified management consultant and founder of Consultants Gold , an online community dedicated to helping consultants run their ventures successfully. That's why, as you get started, Leake offers the following tips for developing a plan:

• Write it! "Putting it on paper requires far more thought than just having it in your head," says Leake.
• Keep it simple so that you revisit it often—so don't make it too long or too complex, she warns.
• Spend the lion's share of your time defining your niche and why you are uniquely situated to serve it. "If you can't succinctly articulate what your business is selling, you'll never get people to buy," says Leake. 
• Don't create your plan in a vacuum. "You'll develop a better business plan if you have feedback, and you'll be more likely to take action if you have accountability from mentors, coaches, or success partners," she says.

But crafting a business plan for your new consulting company doesn't mean you should stick to the average template you can find online, as you should spend your time focusing on the elements that most often make or break companies in your industry. "Writing a business plan for a consulting firm sounds fairly straightforward because there are so many who call themselves 'consultants,' but it can be quite difficult for many reasons," says Michael Hermens, president of Finance Forward , a financial advisory firm in Dallas. That's why Hermens says that you should focus on four key areas when fleshing out your business plan: 1. Value Proposition Answer this question: What is your specific value proposition? "Thousands of ex-IT programmers are now 'Social Media Consultants,' " says Hermens. "What do you do that thousands of other people don't?" The keys to building a solid value proposition are to give decision makers solace that they made the right decision, he says, which can be done in three ways: 1. Offer a service guarantee, 2. Build and take prospects through a well-defined methodology, or 3. Specialize so narrowly that it is easier to increase your stature. "The challenge with a guarantee is that larger firms don't normally purchase on that basis and smaller firms generally take a service guarantee as a tacit admittance of being mistake prone," says Hermens. "A well defined methodology or approach takes a while to build, but is well worth it for prospects who do not know you. Narrow focus helps potential consultants gain exposure, increased stature helps clients be satisfied with their hiring decision."

Dig Deeper : Nobody Buys a Value Proposition 2. Target Market Answer this question: What is the best target market for you, or do you hunt every potential client that might possibly need your services? "Understanding your target market is the most difficult planning activity," says Hermens. But developing an understanding of the competitive landscape is crucial, particularly go-to-market and pricing strategies, as well as the specific problems that the industry or market segment is trying to solve. "Gaining insight into how companies in your industry go to market, the basis on which consulting firms compete, matters," he says. "In strategy consulting, it might be references of former clients or the published knowledge share that gets clients interested. In large IT deployments, it is probably the strength of the methodology. With forensic consulting, your name and personal credibility is a huge selling point." In other words, determining how you should go to market, how (or how much) you charge your clients, and your familiarity with specific industry jargon and problems the industry is trying to solve, are crucial in planning your consulting business, according to Hermens. One approach offered by Beth Corson, founder of Your FundingKey Advisors , is to choose a few industries and then outline the size and type of businesses that you'd like to work within those industries. "Rather than the desperate approach of taking any client that comes along, be selective and create a clear road map of where you want to go," she says. "Several years from now, your client roster should be fairly close to the plan that you make now. By working with similar clients in a specific industry, your company creates a level of expertise that makes it easier to perform well and get new clients because you understand their unique challenges and how to overcome them."

Dig Deeper : How to Define Your Target Market 3. Marketing Answer these questions: How do you market your consulting business? What tactics do you employ to get in front of decision makers to evaluate your offering? There's no question that in order to get your new consulting venture off the ground, you'll need to market your skills and experience to potential clients. That can be difficult, though, when you're a sole proprietor, since time spent marketing is time you're not billing for. While you can always hire an outside firm to help, your fledgling business might find the cost prohibitive. The answer, then, is to be creative in finding ways to promote your offering. One way to do that could be through landing public speaking engagements, which can be very effective at promoting your knowledge and point of view on your industry's challenges, says Hermens. Another option can be to partner with other companies that might offer complementary services to your own, a tact that may also help you build experience in new areas. But, at some point, you must develop your own client relationships independently if you want to keep your company growing.

Dig Deeper : How to Promote Your Consulting Business 4. Employees Answer these questions: If you have employees, what is the best way to deploy them, given the reality of project work? Do you plan to pay them hourly, by confirmed project, or salaried? "The issue here is how do you leverage yourself to grow revenue?" says Hermens. "Consultants who develop their brand can write books and charge an hourly rate, but they still cannot serve two clients simultaneously. Leverage allows your consultancy to flourish as your company takes on more projects." The key, then, is to think about how you align revenue arrangements with employee compensation and how to pay employees to ensure they are available when you need them by asking yourself questions like: Do you pay a salary and risk a lull in projects? Or, perhaps you pay employees on a project basis, only when they work, risking their availability when you get a new contract? "The goal here is to align revenue with employees compensation in the beginning as your consultancy grows," says Hermens. "Once your business becomes large enough, put key people on a salary, with performance bonuses. They will stick with you, have learned your go-to-market strategy, and know your methodology inside and out."

Dig Deeper : The New Rules of Employee Compensation

The Daily Digest for Entrepreneurs and Business Leaders

Privacy Policy

Consulting Company Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » B2B Sector

Are you about starting a consulting business online ? If YES, here is a complete sample business consulting firm business plan template & feasibility report you can use for FREE .

One of the reasons why the consulting business wouldn’t be too saturated no matter how much people delve into it is the fact that the sky is too large for two birds to collide. This means that there are a myriad of people who want to venture into businesses and other unknown fields, and will require the services of a consultant.

If you are looking to start a consulting business, it is very expedient that you master the areas in which you would want to be known as a veteran. There are several fields which one can look to start out from. From the sports angle, to events management, and to other areas.

Suggested for You

• HVAC Business Plan [Sample Template]
• Business Incubator Business Plan [Sample Template]
• BPO Company Business Plan [Sample Template]
• HR Recruitment Consultant Business Plan [Sample Template]
• Modeling Agency Business Plan [Sample Template]

It is however no doubt that you will need to first of all have a rich knowledge of the area that you are looking to commence business from. After that has been done, then you have got to make it mandatory to draw up a business plan that you will follow. Below is a sample consulting business plan template.

A Sample Business Consulting Firm Business Plan Template

1. industry overview.

When we talk about consulting services, we are perhaps talking about getting practical advice from expects. The consulting industry is indeed a broad industry that covers a wide range of services such as management consulting, strategy consulting technological consulting, marketing consulting, human resource consulting, training consulting, tax consulting, and any other business activities that involves giving advice et al.

In essence, consulting firms are hired to proffer solutions to the challenges that organizations faces. Organizations don’t just hire consultants for the sake of hiring consultants, but they do so simply because they expect them to help tackle their business challenges and deliver solutions as required.

As a consulting firm, if you are good at developing coaching skills, process analysis, technology implementation, strategy development, or operational improvement services, then with little push, you will have more jobs than you can handle.

From a recently released statistics, the united states market for management consulting grew 8.5% last year; it translates to about $39.3 billion. Management consulting is growing at a steady rate and the growth rate of the industry far exceeds previous years’ growth.

Although the consulting industry struggled during the 2001–2003 period, but of course it is evident that the industry grew steadily after then except for the period (2009) when we experienced economic downturn. Of course the industry is stable and enjoying steady growth.

The United States companies are spending much less on strategy consulting but the sector is expected to grow just 3.7 percent in the coming year.

The consulting industry is a high-paying industry especially if you have been able to cut your teeth in a particular area of specialization. It gives you the opportunity to work with high and low profile clients and if you are able to proffer solutions to business challenges you will be greatly rewarded.

In most cases, if you are lucky to be among the few experts in the industry, you will have the privilege of choosing who to work for and the amount you want to charge.

Generally, consultants are skilled at conducting research and of course analyzing the results they got from the research. Consultants go as far as gathering any related data that will help them come up with workable solutions for the organization they are working for; they ensure that they identify behavioral patterns, production bottlenecks, the market trends and of course customers preference.

With that and other factors, they will be able to create standard operating processes that can help the organization achieve its goals and objectives.

As a consulting firm, your core responsibility is to improve your client’s business by effecting changes in response to your analysis; you should be able to change the fortune of the business within an agreed time – line. Corporations are willing to pay expensive fees as long as they are going to get results.

No business person will be willing to pay you for a consulting service if you don’t have a track record that shows that you know what you are doing. It is one thing to convince a client to patronize your consulting services and it another thing for you to deliver solutions as agreed.

Lastly, one good thing about the consulting industry is that there are readily available markets for their services simply because organizations naturally would want to improve their performance annually; corporations always seem to want more success. So, if you are well positioned and you know how to deliver results, you will always smile to the bank.

2. Executive Summary

Denzel and McPherson Consulting, LLP is a Human Resource and Capital Development Consulting firm that will be located in New York City, New York. The company will be operated as a standard consulting firm with bias in business consulting and also handle other related aspect of human resources and capital development aspect of consulting as requested by our clients.

We are aware that businesses these days require diverse and sophisticated approaches. This is why we will position our consulting firm to offer a wide range of consulting services as requested by our clients. Denzel and McPherson Consulting, LLP is a client-focused and result driven business consulting firm that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a complete range of business consulting services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the required services and business solutions needed by our clients to accomplish their business goals and objectives.

At Denzel and McPherson Consulting, LLP, our client’s best interest come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire consultants who are well experienced in a wide variety of business consulting and trainings et al.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Denzel and McPherson Consulting, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

• Our Founder

Denzel and McPherson Consulting, LLP is founded by Dr. Denzel Graham – Douglas and his son McPherson Graham – Douglas. The organization will be managed by Dr. Denzel Graham – Douglas, he graduated from University of California – Berkley (First Degree), Brock School of Business at Stamford University (MBA), and University of Harvard (PhD.).

He has extensive experience in a diverse range of business consulting, and his consulting practice is concentrated in the areas of helping both big corporations and start – ups position their business for growth, sustainability and expansion.

3. Our Products and Services

Denzel and McPherson Consulting, LLP is going to offer varieties of services within the scope of the consulting industry in the United States of America. Our intention of starting our consulting firm is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering are listed below;

• Recruitment and Training Consulting
• Business Formation and Business Strategies for corporate organization
• Management Consulting
• Strategy Consulting
• Technological Consulting
• Marketing and Sales Consulting
• Human Resource and Capital Development Consulting
• Brand Consulting
• Accounting and Financial Services Consulting
• Tax Consulting
• Insurance Consulting

4. Our Mission and Vision Statement

• Our vision is to provide our clients with skilled consulting and training solutions in a timely and efficient manner.
• We strive to handle each client with accountability and responsiveness, as if we were building our own business.
• We focus our attention on the providing workable business solutions for our clients so that our clients can focus their attention on the success of their business.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and trusted consulting services that assist businesses and non-profit organizations in operating sustainably.
• We provide workable business solutions in combination with our own business backgrounds, and deliver valuable services in a timely and cost-effective way.

Our Business Structure

Denzel and McPherson Consulting, LLP will build a solid business structure that can support the growth of our business. We will ensure that we hire competent hands to help us build the business of our dream. Below is the business structure that we will build Denzel and McPherson Consulting, LLP;

• Chief Executive Officer / Lead Consultant
• Business Consultants
• Training and Development Executive

Legal Secretary

Admin and HR Manager

Business Developer

Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office / Lead Consultant:

• Responsible for providing direction for the firm
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for handling high profile clients and deals
• Responsible for fixing prices and signing business deals
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Reports to the board
• Responsible for drawing up contracts and other legal documents for the company
• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
• Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.

Business Consultant

• Responsible for providing business solutions for clients
• Works with the Business analyst to design workable business plan document for clients
• Works with the Training and Development Consultant to develop training solutions for clients
• Tracks hours and bills to clients.
• Handles any other responsibility as assigned by the Lead Consultant

Training and Development Consultant

• Coordinates training programs facilitated by Denzel and McPherson Consulting, LLP
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Identifies training and development needs for staff through job analysis, appraisals and consultation
• Collects briefs from clients in respect of Recruitment exercise, Learning and Development and Advisory services
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Facilitates and coordinate strategic sessions.
• Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
• Responsible for handling all trainings both internal and external trainings

Business Analyst

• Responsible for handling business research, marker surveys and feasibility studies for clients
• Works with the Business consultant in helping clients develop workable business plan documents
• Handles any other duty as assigned by the business consultant or the lead consultant
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
• Receives Visitors / clients on behalf of the organization
• Receives parcels / documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distribute mails in the organization
• Handles any other duties as assigned my the line manager

6. SWOT Analysis

Denzel and McPherson Consulting, LLP engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a solid consulting firm that can favorably compete in the highly competitive consulting industry.

Part of what our team of business consultant did was to work with the management of the firm in conducting a SWOT analysis for Denzel and McPherson Consulting, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Denzel and McPherson Consulting, LLP;

Our core strength lies in the power of our team; our workforce. We have a team that can go all the way to give our clients value for their money. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

As a new business consulting firm, it might take some time for our organization to break into the market; that is perhaps our major weakness.

• Opportunities:

The opportunities in the consulting industry are massive and we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a consulting firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing power.

There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

Quite a number of distinct trends have emerged in recent times in the consulting industry which is why consulting firms are positioning their organizations to survive the peaks and troughs of an ailing economy.

As a matter of fact, most of these trends aid consulting firms and organizations to become more creative, competitive, efficient, and productive in a global market. Some other trends in the consulting industry could be attributed to changing demographics, attitudes and work styles.

No doubt, as the cost of consulting services continues to increase and as corporate spending falls, new consulting delivery methods will continue to emerge and gain momentum going forward. In addition, the market for consulting services has shifted from a sellers’ market to a buyers’ market. A market where consultants provide software solutions that will make it easier for their clients to run their businesses.

Lastly, it is now becoming trendy in the consulting industry for smaller consulting firms to merge with bigger consulting firms and for bigger consulting firms to acquire smaller consulting firms; mergers and acquisitions. Many consulting firms all over the United States are coming to the conclusion that the bigger the better for them.

8. Our Target Market

Although Denzel and McPherson Consulting, LLP will initially serve small to medium sized business, from new ventures to well established businesses, but that does not in any way stop us from growing to be able to compete with the leading consulting firms in the United States.

We hope to someday merge or acquire other smaller consulting firms and expand our consulting services beyond the shores of the United States of America. As a full service business consulting firm, Denzel and McPherson Consulting, LLP have a variety of practice areas to help startups grow.

While we works with a variety of organizations and industries, Denzel and McPherson Consulting, LLP will also specialize in working with startups, real estate investors, and contractors, manufacturers and distributors, banks, lending and financial institutions.

Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.

In other words, our target market is the whole of the United States of America and subsequently other parts of the world. Below is a list of the people and organizations that we have specifically design our products and services for;

• Banks, Insurance Companies and other related Financial Institutions
• Businesses and Entrepreneurs
• Blue Chips Companies
• Corporate Organizations
• Manufacturers and Distributors
• Real Estate Owners, Developers, and Contractors
• Research and Development Companies
• The Government (Public Sector)
• Schools (High Schools, Colleges and Universities)
• Sport Organizations
• Entrepreneurs and Start – Ups

Our competitive advantage

A close study of the business consulting and advisory industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, the supply of business consultancy and advisory services has significantly exceeded demand.

In other to position to take on the market, most consulting firms have begun to diversify their services as against restricting their services to just a niche in the industry

Denzel and McPherson Consulting, LLP might be a new entrant into the business consulting industry in the United States of America, but the management staffs and board members are considered gurus. They are people who are core professionals and licensed and highly qualified consultants in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups consulting firm) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Denzel and McPherson Consulting, LLP is established with the aim of maximizing profits in the consulting industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Denzel and McPherson Consulting, LLP will generate income by offering the following consulting services for individuals and for organizations;

10. Sales Forecast

As long as there are people living in the United States of America and business starting and growing in the U.S., the services of consulting firms will always be needed.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City, New York to other states in the U.S. and even the global market.

We have been able to critically examine the business consulting market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in New York.

Below is the sales projection for Denzel and McPherson Consulting, LLP, it is based on the location of our business consulting firm and the wide range of consulting services that we will be offering;

• First Year-: $100,000
• Second Year-: $500,000
• Third Year-: $1,000,000

N.B : This projection is done based on what is obtainable in the industry.

• Marketing Strategy and Sales Strategy

We mindful of the fact that there are stiffer competition amongst consulting firms in the United States of America, hence we have been able to hire some of the best business developer to handle our sales and marketing. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speak for us in the marketplace; we want to build a standard consulting business that will leverage on word of mouth advertisement from satisfied clients (both individuals and organizations).

Our goal is to grow our consulting firm to become one of the top 20 consulting firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.

Denzel and McPherson Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to organizations and key stake holders in New York and other parts of the U.S.
• Promptness in bidding for consulting contracts from the government and other cooperate organizations
• Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality consulting services to them
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our in house consultants and other brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the consulting industry by storm which is why we have made provisions for effective publicity and advertisement of our consulting firm.

Below are the platforms we intend to leverage on to promote and advertise our consulting business;

• Place adverts our consulting firm on both print and electronic media platforms
• Sponsor relevant TV shows and radio programs
• Maximize our firm’s website to promote our business
• Leverage on the internet and social media platforms like; Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (real estate online forums) to promote our business.
• Offer Pro Bono services as part of our community social responsibility
• Brand all our official cars

12. Our Pricing Strategy

Hourly billing for consulting services is a long – time tradition in the industry. However, for some types of consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs. As a result of this, Denzel and McPherson Consulting, LLP will charge our clients a flat fee for many basic services such as business advisory services and tax consulting et al.

At Denzel and McPherson Consulting, LLP we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.

We are aware that there are some clients that would need regular access to consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

Denzel and McPherson Consulting, LLP, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft
• Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.

13. Startup Expenditure (Budget)

Starting a consulting firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.

Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications. Basically, this is the area we are looking towards spending our start – up capital on;

• The Total Fee for incorporating the Business in New York – $750.
• The budget for Liability insurance, permits and license – $2,500
• The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
• The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
• The Cost of Launching your official Website – $600
• Budget for paying at least two employees for 3 months and utility bills – $30,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous – $1,000

Going by the report from the research and feasibility studies, we will need about $150,000 to set up a small scale but standard consulting firm in the United States of America.

Generating Funding / Startup Capital for Denzel and McPherson Consulting, LLP

Denzel and McPherson Consulting, LLP is going to start as a private business that will be solely owned by Dr. Denzel Sander and family. He will be the sole financial of the firm, but may likely welcome partners later which is why he has decided to restrict the sourcing of his start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

It is easier for businesses to survive when they have steady flow of business deals / customers patronizing their products and services. We are aware of this which is why we have decided to offer a wide range of consulting and advisory services to both big and small clients.

We know that if we continue to deliver excellent consulting and advisory services, there will be steady flow of income for the organization. Our key sustainability and expansion strategy is to ensure that we only hire competent employees, create a conducive working environment and employee benefits for our staff members.

In the nearest future, we will explore the options of either merging with other consulting firms or acquire one or more consulting firms in order for us to increase our market share. We know that if we implement our business strategies, we will grow our consulting and advisory business beyond New York City, New York to other states in the U.S in record time.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry: In Progress

• Name Search
• Browse Legal Issues
• Browse Law Firms

How To Start a Consulting Business in 8 Steps

By Catherine Hodder, Esq. | Legally reviewed by Madison Hess, J.D. | Last reviewed July 31, 2024

Legally Reviewed

This article has been written and reviewed for legal accuracy, clarity, and style by  FindLaw’s team of legal writers and attorneys  and in accordance with  our editorial standards .

Fact-Checked

The last updated date refers to the last time this article was reviewed by FindLaw or one of our  contributing authors . We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please  contact an attorney in your area .

Have you been working for a large company and want to start your own business based on your industry experience? Do you have specialized knowledge that can help others? Consider opening your own consulting business.

Ready to form your LLC with confidence? Our trusted partner LegalZoom has packages starting at $0 + filing fees.

Successful consultants leverage their expertise to deliver high value to their clients by offering practical solutions to their challenges. If you are interested in launching your own consulting business, follow these steps:

1. Decide the Focus of Your Consulting Firm

Evaluate your skill set and know-how. Are you a whiz with computers? You can start an IT consulting business. Or have you worked in human resources? You may want to become an HR consultant. There are many different types of consulting to choose from in the consulting industry, such as:

Digital marketing consultant

Education consultant

Environmental consultant

Financial consultant

Healthcare consultant

Legal consultant

Management consultant

Marketing consultant

Operations consultant

Project management consultant

Public relations consultant

Real estate consultant

Sales consultant

Search Engine Optimization (SEO) consultant

Strategy consultant

As a consultant, you should determine what expert advice and value you bring to your client base. Tune into industry trends and know what pain points to eliminate for your target audience.

Now, you will want to define the scope of your business. Do you want to operate it full-time or set your own flexible hours?"

2. Create a Business Plan

The first step for many business owners is to put together a business plan . Even a small business benefits from a business plan. Common elements of a business plan include:

Executive Summary. Describe your business, your background, who your customers are, and your revenue expectations.

Business Description. Outline the type of consulting business you are creating and who you will serve.

Market Analysis. Conduct market research to see if there is a demand for your services. Identify your target market. Research your competitors and show how you differ from them.

Marketing Plan. Develop a marketing plan for reaching your potential clients. Your first client may be a former employer, but you want to make sure you are in a position to welcome new business.

Financial Projections. Determine your startup and ongoing costs to project when your business will turn a profit.

When drafting your business plan, you may also want to determine the following:

Certifications. Do you need any licenses or certifications prior to offering consulting services?

Pricing. Will you charge an hourly rate or create a flat fee arrangement? If you handle large scale projects, will you request a retainer?

A business plan can be formal and highly detailed or informal. However, if you are looking for a business loan or bank financing, you should have a well-formulated plan.

3. Choose Your Business Name

Your company name is your brand so consider it carefully. There are many considerations in choosing a business name , primarily that it is unique and no one else can claim it. Before you settle on a name, conduct an online search with your Secretary of State’s business records, Google the name to see if another business uses it, and search in the US Patent and Trademark Office (USPTO) for prior name registrations . If the name is in use or a registered trademark, do not use it.

As a consultant, you may want your name to be your personal name, such as “Cheryl Smith Consulting,” or you may want a name to reflect the consulting you do, such as “College Success Consulting.”

4. Determine Your Business Structure

Many startup consulting companies begin as sole proprietorships, where a single individual owns and operates the business in their own name. However, consultants often create a limited liability company (LLC) for personal asset protection. A sole proprietor’s personal assets are at risk from lawsuits and debts. In contrast, a business owner with an LLC only risks assets within the company. No matter what type of consulting you do, it is wise to look into protecting your personal assets from your business liabilities.

Both corporations and LLCs offer personal liability protection. However, LLCs are popular among entrepreneurs due to the ease of formation and low maintenance cost and requirements

5. Get an EIN Number

An Employer Identification Number (EIN) for your business is similar to a Social Security Number. You can find out if you need an EIN and easily apply online with the IRS for your EIN. You use this number to identify your business when paying federal, state, and local taxes.

6. Open a Bank Account

The next step is to open a business bank account for your consulting business. A bank will want to see proof of your business entity (such as a Certificate of Incorporation for a corporation or Certificate of Formation for an LLC) and your EIN.

You run all your transactions (paying business expenses and depositing checks) through your business bank account and not your personal one.

7. Get a Business License and Insurance

Determine what business licenses and permits you may need for your consulting practice. Your state and township may require a business license. If you operate from home, you may need permission from your homeowner's association (HOA).

Depending on your business, you may also want to consider a business insurance policy. While a business structure such as an LLC or corporation protects your personal assets, a business insurance policy protects your business assets.

8. Develop Marketing Strategies

Many independent consultants start by serving one customer, but they must develop strategies to attract new clients. When setting up your business from scratch, you want to reach your target market in the most cost-effective way. The best way to get clients is from word-of-mouth referrals. However, there are many other ways to get business, such as:

Create a dynamic website so people can find you and learn about what you do. There are many online templates for creating your website.

Leverage your social media channels by posting about your business. For example, you can post about your business on LinkedIn, Facebook, and Instagram. Consider writing a blog or starting a podcast about your area of expertise to attract attention.

Give business cards to former work colleagues, friends, and family.

Starting your own business may seem challenging, but by following these steps, you can successfully launch your consulting business.

Kick-Start Your LLC in Minutes!

LegalZoom can help you form an LLC on your own or with advice  every step of the way .

• Starts at $0 + state fees
• Protect your personal assets
• Launch with the #1 online business formation service

FORM MY LLC NOW

You Don’t Have To Solve This on Your Own – Get a Lawyer’s Help

Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.

Need Help Forming Your LLC?

FindLaw's trusted partner LegalZoom provides a straightforward process to help you set up your LLC.

Related Resources

• Forming an LLC
• Starting a Limited Liability Company Checklist
• Start-Up Basics

Find a Lawyer

• Search Legal Resources
• Find Cases and Laws

How to Hire a Business Consultant

Tips to help you find the right business consultant for your company include specifying your goals and asking potential candidates thorough questions about their offerings and processes.

Find out more about business consultants

by   Cara Hartley

Cara has written extensively on navigating privacy regulations, creating legal documents, and managing business issue...

Read more...

Legally reviewed by   Allison DeSantis, J.D.

Allison is the Director of Product Counsel at LegalZoom, advising and providing leadership to internal teams on the d...

Updated on: August 2, 2024 · 9 min read

What do business consultants do?

Why hire a business consultant, types of business consultants, how to hire the right business consultant.

A business consultant is an expert who helps business owners find solutions to their business challenges and optimize their productivity and performance. 

Business consultants provide advice and develop strategies to help business owners overcome obstacles and meet their goals. A business consultant's specific responsibilities can vary depending on their areas of expertise and their clients’ individual requirements.

• Identify a company’s key issues 
• Develop strategies to navigate challenges and achieve business objectives
• Implement strategies to meet both short- and long-term goals
• Provide a fresh perspective and professional advice 

A business consultant’s process typically involves three phases: investigation, strategy development, and implementation.

Investigation

A business consultant investigates issues hindering growth. They analyze your business’s systems and staff and external factors to identify opportunities and determine the root cause of existing problems. 

Strategy development

After they have identified the source of the problem, a consultant can assist in finding solutions to address the issue. The consultant will factor in information they uncovered during the investigative phase (including your business’s strengths and weaknesses and external influences such as market conditions and competitor activities) to create a customized plan of action.

Implementation

A business consultant can then help you implement their solutions. During the implementation phase, the consultant typically oversees staff management and training, monitors the plan and makes adjustments as necessary, and conducts evaluations to measure the overall impact of the implementation. 

Business owners hire consultants for a wide variety of reasons, from addressing specific issues to obtaining big-picture input on how to achieve core objectives.

When growth has plateaued

It can be challenging to figure out the next step when your company’s growth has stalled. A business consultant can provide new insights and creative approaches to help stimulate growth. 

During transitions

Transitions can be unsettling for staff and consumers alike. If your business is restructuring or going through a merger or acquisition, a business consultant can help facilitate a smooth transition.

During expansion

Whether you are expanding into a new location, launching a new digital storefront, or offering new products, a business consultant can provide information about industry trends, competitors’ tactics, and market entry plans to help you meet your expansion goals. 

When you need help with project management

There are times when you know what a project needs to succeed, but your staff doesn’t have the know-how to make it happen. A business consultant can bridge the knowledge gap by providing the external expertise needed to complete the project.

When you want to maximize efficiency

Companies often refer to business consulting services when they want to optimize their efficiency. A business consultant can evaluate your company’s operations to identify problem areas and develop time-saving and cost-reduction strategies. 

During a crisis

Crises such as recessions, pandemics, and public relations issues can have a significant impact on business operations. Hiring business consultants can be a smart move during a crisis, as they can implement proven methods for responding to and managing crises. Consultants can provide the neutral perspective necessary to navigate the chaos and get your business back on track. 

When you need a business plan

A business plan helps you stay focused and hit your goals no matter what stage your business is in. A business plan typically includes a description of your company, your mission statement, the strategies you will use to achieve your business’s success, and any funding requests.

A business consultant can help you create a comprehensive business plan that supports your company’s objectives in every stage and ensure that each part of the plan aligns with your ultimate vision. 

When integrating or updating information technology

Whenever a company updates its current systems or integrates new technology, there is a risk of integration failure. A business consultant with information technology (IT) experience can help minimize disruptions and confirm that your systems are functioning properly. 

Business consultants offer services across multiple industries, including the financial, marketing, and tech fields.

The different types of business consultants include the following: 

• Strategy and management consultants. A strategy or management consultant analyzes your company’s processes to identify issues that are impeding growth and develop solutions to help you meet your goals.
• Operations consultants. Operations consultants look at your business’s daily activities and pinpoint areas where improvements can be made to optimize efficiency and minimize expenses. Businesses in the manufacturing, financial services, healthcare, transportation, and service delivery industries may find operations consultants to be especially helpful. 
• Financial consultants. A financial consultant has a deep understanding of risk management, investment, and tax management strategies, and uses that knowledge to help businesses develop a plan to manage their current and future finances. 
• Human resources consultants. Professionals who offer human resources consulting services can assist with a variety of topics, including recruitment, hiring, payroll, benefits, productivity, employee satisfaction, and HR staff training. 
• Marketing consultants. A marketing consultant can train your marketing team, suggest marketing strategies to attract your ideal audience, and coordinate your business’ marketing activities. 
• IT consultants. An IT consultant can help you find and implement new technology systems, train staff, and monitor and troubleshoot systems once they have been installed.
• Sales consultants. Sales consultants can conduct sales strategy trainings for your staff and help build relationships with both existing and prospective clients to foster revenue growth.

Tips to help you find the right business consultant for your company include specifying your goals and asking potential candidates thorough questions about their offerings and processes. 

Clearly define your needs

In order to achieve your goals, you should know exactly what issues you need help with. Consultants can’t solve what they can’t see. A lack of clarity about your specific challenges can make it difficult to find a candidate who can help you. 

Thoroughly vet candidates

When it comes to a business consultant’s credentials, don’t just take their word for it. Reach out to their references and read reviews before making a hiring decision. Look for a consultant who has experience working within your industry and has had success helping comparable companies. 

Discuss their methodology

Ask the consultant what kind of tools, resources, and procedures they use to accomplish results and how they have tackled similar problems in the past. The right consultant will offer innovative solutions and use methodologies that align with your workplace culture.

Agree on clear objectives and outcomes

You and the consultant should agree on the metrics for success and ultimate outcomes. Success metrics–or key performance indicators (KPIs)–help you monitor the impact of the consultant’s work. 

For instance, if you hire a marketing consultant, you might use email open rates or the number of leads generated as success metrics and agree on a goal of a certain percentage increase within a specified timeframe.  

Create a strong consulting agreement

A consulting agreement communicates expectations and provides legal protection for your business. Your consulting agreement should clearly define the details of the work and the terms that both parties agree to.

A legal expert can help ensure that your consulting agreement contains clauses outlining key information such as deliverables, payment terms, deadlines, and grounds for termination. 

With our consultant contract services , a qualified attorney can help you write, revise, and customize your consulting agreement so that it is legally binding and protects your business.

Plan for knowledge transfer

A new system is only as effective as the people who maintain it. A business consultant should have the ability to train your staff on how to use the tools or systems they implement to help ensure your company’s continued success.

How much does it cost to hire a business consultant?

The cost of hiring a business consultant depends on a variety of factors, including the type of consultant you hire, the scope of the work, and whether you hire a freelance consultant or a consulting firm. 

For instance, according to a 2023 survey by the Institute of Electrical and Electronics Engineers (IEEE) , engineering consultants charge a median rate of $180, while the U.S. Bureau of Labor Statistics reported a 2023 median hourly wage of $37.83 for all occupations in the Management, Scientific, and Technical Consulting Services category.

How do you determine the ROI of a business consultant?

To calculate the return on investment (ROI) of a business consultant, you subtract the actual or estimated costs of the consultancy from the amount of income the consultancy is expected to bring in. The sum is the profit the consultancy is expected to generate. You then divide the sum by the costs.

The formula for ROI for a business consultant can be written as follows: 

ROI = (Profit from consultancy - Cost of consultancy) / Cost of consultancy x 100%

While the ROI formula may seem simple enough, keep in mind that it can be challenging to accurately estimate profits , and the cost of hiring a consultant may offset other expenses, such as the costs associated with an unmitigated public relations disaster or the cost of hiring a full-time employee instead of a consultant.

For instance, if you are hiring a consultant instead of a full-time employee , you should take into account the total expenses associated with hiring an individual full-time vs. the cost of hiring a consultant on an as-needed basis. When you consider the costs of recruitment, hiring, training, salary, benefits, bonuses, payroll taxes, and insurance, hiring a consultant can be cheaper than hiring a full-time employee.

Should I hire a freelance consultant or a consulting firm?

The decision to hire a freelance consultant or a consulting firm comes down to the consultant or firm’s relevant experience and availability, and your budget and personal preferences.

One benefit of hiring a consulting firm is that the quality of their work is backed by their brand. Another perk is that a consulting firm typically has many employees, so if an issue arises during the consulting period that is beyond the expertise of one employee, you may be able to access the full knowledge base of the firm. 

Freelance consultants may have limited availability to take on consulting jobs in comparison to consulting firms, but they may be more affordable than a firm. Freelance consultants are often highly motivated to provide their best work to help build a name for themselves. 

Whether you choose a freelance consultant or hire a consulting firm, you should verify their qualifications. A business consultant usually has a bachelor’s degree–typically in a field such as business administration, marketing, or finance. Some consultants may have a master’s degree, while other business consultants may have additional certifications. You should ask to see proof of their track record and details about how they have solved problems for similar clients. 

Business consulting can be a rewarding career and many consultants charge top dollar for their services, so it’s important to hire someone who has the qualifications and experience necessary to help your business succeed. 

What should a consulting agreement include?

A consulting agreement should include information about the scope of work, payment terms, and what happens if either party breaches the agreement. Consulting agreements often contain the following clauses:

• Responsibilities
• Deliverables
• Payment terms 
• Intellectual property
• Termination
• Confidentiality

You may also like

10 mistakes new business owners make

Don't let your enthusiasm prevent you from taking the time to plan your business strategy and protect yourself legally or financially.

February 28, 2023 · 5min read

10 tips for creating a small business plan

A business plan is a necessary part of your impetus for success for your small business. Find out how to create a business plan that will help you obtain investors and stay on track as you grow.

November 21, 2023 · 4min read

How to find tax deductions for consultants

It's common for consultants to file taxes without knowing all the deductions they're entitled to. Don't let those write-offs fall through the cracks. Familiarize yourself with common and often-overlooked tax deductions for consultants.

November 28, 2023 · 7min read

Business Coaching

Want to start & grow your own business? Get your 6-Figure Blueprint (it's Free)

How to Write a Strong Consulting Contract (+Template)

• By Luisa Zhou
• Building a Business
• Updated: July 27, 2024

On this page

Are you looking to protect yourself and your business? 

If so, you need a consulting contract (or agreement). 

In this post, I’ll explain:

• What a contract typically includes
• The most common clauses found in consulting contracts
• How to get professional legal help 
• And much more

Ready? Let’s go!

What is a consulting contract? 

Let’s start with the basics. 

A contract is essentially any legal document drawn up by at least two parties with a shared interest.  

A consulting contract confirms a working relationship between you (the consultant) and your client.

Sometimes, consulting contracts are also called “consulting agreements.”

Don’t worry too much about the language here, though – they’re basically the same thing. 

But what do these contracts actually look like?

There are plenty of different types of consulting contracts , depending on the industry you’re in and services provided. 

Get the Ultimate Guide

For building a 6-figure coaching business so you can achieve more freedom.

This includes common industries such as:

• Business management
• Marketing and advertising
• Relationships

While there are some differences between different consulting contracts, there is also a lot of common ground between them , including a number of essential points all consulting contracts should cover. 

We’ll get into all of that a little further below. 

But first, do you even NEED a contract? 

Do you need a contract as a consultant? 

This is an easy one – the answer is YES!

If you’re serious about the work you do, a contract is non-negotiable . 

That’s because a contract offers legal and financial protection for both you and your clients . 

It’s also the best way to outline (and enforce) clear boundaries regarding your services. 

You see, with a contract, you outline exactly what your services will look like – so that you’re on the same page with your client. 

And if you’ve ever had a difficult client before…

You know how important boundaries can be.  

So, let’s talk about how to write one. 

How do you write a consulting contract? 

As I mentioned earlier, contracts can be really varied… 

But the most important thing to keep in mind is this:

The contract needs to work for your business . 

For instance, how often do you meet with your client? 

What do payment terms look like? 

And so on. 

In this post, I’ll keep it pretty general with the essential points your contract should cover:

• Basic information
• Service details
• Terms and fees
• Supplemental clauses 

Let’s start with the basic information.

1. Include basic information 

Your contract needs to contain some very basic info about you and your client:

• The names, addresses, and contact details of both parties
• The date of the agreement 

This information should appear near the top of the contract.

Next are the service details. 

2. Define service details  

Try to be specific. The more detail you include, the better . 

Describe the deliverables you and your client agreed upon, and the project’s scope. For additional clarity, some contracts even include the services you’re not going to provide. 

Here are some questions you’ll need to think through:

• What are your responsibilities as the consultant? 
• What are your client’s responsibilities? 
• How many hours are you going to work on this project?
• How often will you have meetings or calls with the client?
• What are the project’s primary milestones? 

Remember: If this section is really clear, it’ll help you avoid misunderstandings later on.

Also, projects can change over time . So, if you or your client decide to make adjustments to the project’s scope at any point, you can always rework the contract . 

Just don’t forget to have both parties re-sign it as well! 

3. Set terms and fees  

Now, let’s talk about practical points like dates and fees. 

Consultancy duration

First, you need to determine the project’s duration. I recommend establishing concrete start and end dates .

Concrete dates help everyone stay on track. And you can always extend the project’s duration if needed. 

Fees and payment plan

Next, you need to clearly state your fees . 

If you’re not sure what to charge for your services, I’ll walk you through the decision in this video:

The contract should also outline the payment plan . 

Do you want to be paid weekly or monthly ? Or based on each milestone ? 

Personally, I recommend offering a package deal or using a retainer model . 

That said, there are pros and cons to each of these options. The best one depends on what works for you — and how much experience you have. 

For example, a retainer provides much more financial security, but you might need to offer clients a discount if you’re just starting out. 

Outlining the expected timelines and payment terms prevents many unpleasant surprises. 

But things don’t always go as planned. 

So, how do you ensure you actually get paid on time ? And what happens if the client’s payment is late? 

These questions should also be addressed in the contract. 

If you’re sending invoices, note how and when that’ll happen. (Here’s a post all about invoicing, including some excellent software that makes it really easy.)

Also, make note of your late fees.  

That way, if you don’t get a payment and your client decides to ignore you (it happens), you can take legal action.

For more on what to do if a client backs out, check out this video: 

Additional expenses

One last thing you should note for the payment-related terms:

If you anticipate any additional expenses during the consultancy, make sure to discuss these with your clients.

Be clear about whether you’ll be charging for things like:

• Printing expenses

You can refer to these items directly in the contract.

4. Include other terms and conditions  

Beyond the points listed above, there are several other sections I recommend including in your contracts. 

Confidentiality 

First off, let’s discuss confidentiality . 

When you’re working closely with a client, they might want or need to share sensitive information regarding things like:

• Design ideas
• Industry secrets
• Personal stories
• Financial data

That’s why a confidentiality clause is so important. It outlines precisely which information is confidential and in what circumstances . 

This clause is one of the first steps you can take toward building a meaningful, trustworthy relationship with each of your clients. 

Next, let’s talk about liability. 

Here’s the thing: As a consultant, you’ve got to take a certain amount of responsibility for the services you provide. 

That said, you can never be sure of what your clients will do with the valuable information and skills you share, and they might not always get the results they expected.  

So, to protect yourself from related issues (especially legal and financial ones) , you should include a liability clause . 

For instance, you should limit the maximum amount of compensation your client can claim in case there’s a breach of contract.

You should also note what sort of consequences you’re not responsible for, such as: 

• Actions taken by your client 
• Actions taken by third parties
• Certain types of damages

You have other ways to protect your business, too.  If you’re interested, check out this post about liability insurance.  

Termination 

When you start a new relationship with a client, you should have the full intention to see it through to the end . 

Hopefully, your client has the same intention. 

But sometimes circumstances come up. Life happens, and either you or they might decide to end the agreement for one reason or another. 

So, you’ve got to prepare for that with a termination clause .

This clause typically outlines the following: 

• Whether termination is possible and, if so, the period required for either party to terminate the agreement. 
• The grounds on which the agreement can be terminated (for example, a breach of contract or misconduct). 
• The financial implications of a termination. Is a refund possible? If yes, how will you determine the amount? 

On a related note, if you’re not sure whether to offer refunds, check out this video I made:

Intellectual property rights

Lastly, you’ve got to protect your intellectual property (IP). 

IP basically refers to intangible property someone has created. 

As a consultant, your IP might include any concepts and methods you have already developed or written materials you’re sharing. It also includes anything you develop during the project. 

So, an IP section of a contract outlines how and when your clients can use that content.  

This is important because your intellectual property is a key business asset. 

What are the common clauses in a consulting contract?    

Okay, we’ve already covered most of the big items you’ll need to include on your contracts. 

But there are a few other common clauses that you might hear about or want to consider as you proceed:

• Indemnity clause: This clause establishes one party as being responsible for losses or damages related to a specific circumstance.
• Non-compete clause: A non-compete clause restricts you, as the consultant, from taking part in certain activities that could harm the client’s business. It’s usually accompanied by a timeframe and a geographical scope. 
• Non-solicitation: This clause prevents one party from doing business with the current employees or partners of the other party. 
• Non-defamation: Many contracts include a clause that says a client can’t post false information about the consultant. Note: This doesn’t mean they can’t still write a bad review!
• Dispute resolution: This one typically outlines the specific methods used in case of a dispute . It might also identify the governing jurisdiction if your client is based in another country. 
• Force majeure: This clause excuses parties from their obligations in case of events beyond anyone’s control (like another pandemic or a natural disaster). 

Now, let’s move on to templates you can use as a guide for your consulting contract. 

Consulting contract template 

I’ve got some good news: You don’t need to write your consulting contract on your own.

In fact, I highly recommend you consult with a professional to make sure you’ve got the bases covered. 

Having said that, lawyers don’t always know what they’re talking about. 

Back when I was starting out, I spent thousands of dollars on a lawyer who wrote up a contract I couldn’t use. In the end, I had to start from scratch.

Luckily, I’ve got an alternative for you : My friend Lisa Fraley is an attorney and an expert at protecting online businesses. 

Lisa offers a range of 1-on-1 services for consultants. She can provide you with worksheets, prep calls, and various time-saving solutions. 

If that’s more than you’re looking for, Lisa also offers dozens of legal templates you can complete on your own. 

There’s even an excellent legal starter kit containing everything you need to protect your business legally.

You’ll get the following: 

• A DIY coaching agreement
• A DIY mini-disclaimer (to protect your content)
• A DIY website disclaimer 
• And much more. 

Other ways to get the help you need include popular legal websites like LegalZoom and RocketLawyer .

And last but not least, I’m sharing a template with you right here: 

Coaching agreement template

This Consulting Agreement (the “Agreement”) is made as of [Effective Date], by and between [Consultant’s Name], with an address at [Consultant’s Address] (the “Consultant”) and [Client’s Name], with an address at [Client’s Address] (the “Client”). The Consultant and the Client are collectively referred to as the “Parties.”

1. Services

The Consultant agrees to provide the following services to the Client (the “Services”):

• [Description of Service 1]
• [Description of Service 2]
• [Description of Service 3]

2. Compensation

The Client agrees to pay the Consultant at the rate of $[Rate] per hour. The Consultant will invoice the Client on a [monthly/weekly] basis, and all payments are due within [Number] days of receipt of the invoice.

3. Term and Termination

This Agreement shall commence on [Start Date] and continue until [End Date], unless terminated earlier. Either Party may terminate this Agreement with [Number] days’ written notice. Immediate termination can occur if either Party breaches any material term of this Agreement.

4. Expenses

The Client agrees to reimburse the Consultant for all reasonable and necessary expenses incurred in connection with the Services, provided that such expenses are pre-approved by the Client.

5. Confidentiality

The Consultant agrees not to disclose any confidential information of the Client, including business operations, customer information, and financial data. This obligation will continue for [Number] years after the termination of this Agreement.

6. Intellectual Property

All intellectual property developed during the term of this Agreement shall be the exclusive property of the Client. The Consultant agrees to assign all rights, title, and interest in such intellectual property to the Client.

7. Indemnification

The Client agrees to indemnify and hold harmless the Consultant from any claims, damages, or liabilities arising out of the Consultant’s performance of the Services, except where such claims, damages, or liabilities result from the Consultant’s gross negligence or willful misconduct.

8. Independent Contractor Status

The Consultant is an independent contractor and not an employee of the Client. The Consultant has no authority to bind the Client in any manner.

9. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of law principles.

10. Miscellaneous

• No modification of this Agreement shall be valid unless in writing and signed by both Parties.
• This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings.

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written.

[Consultant’s Name] [Consultant’s Signature]

[Client’s Name] [Client’s Signature]

This template provides a general framework and should be customized to fit specific needs and legal requirements.

But again, I’m no lawyer — and it’s best to get all of your legal documents checked by a professional lawyer . So, if you use this template, note that it doesn’t constitute legal advice and you need to consult a lawyer before using any contract created with this template. 

Finally, you can use an e-signature service like Dropbox Sign to send your contract to clients. 

Next steps 

There you have it. Now, you’re familiar with what it takes to create the perfect consulting contract. 

It may sound tough, but once you’ve got your contract in hand, you’ll be in great shape. And you can make small adjustments to your base contract as needed, depending on the client you’re working with.  

Then, you can focus on scaling your business. 

I go through everything you need to know in my FREE PDF for building a six-figure online business. 

( Disclaimer : This article is not meant as legal advice. Consult a legal expert for tailored legal information that applies to your specific situation.) 

How to Start a Consulting Business

Coaching vs. Consulting: Key Differences & Similarities

How to Market Consulting Services

How to Sell Consulting Services

About Luisa Zhou

Luisa Zhou has helped thousands of students build and scale their own profitable online Freedom Business. Fun Fact: She used to work as an engineer for the Space Station and holds a B.S.E. from Princeton. Click here to learn more about Luisa.

Hope you enjoy this blog post.

Want to know how to build a profitable, meaningful business to replace your 9-5?

The proven blueprint for building your own online business - that frees you from the 9-to-5

When you sign up, you’ll also receive regular updates on building a successful online business.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related Posts

Top 12 essential consulting skills you need to succeed, how to quickly scale a consulting business (9 smart ways), how to sell a service successfully (without being salesy).

The proven blueprint

For building a profitable online coaching business that frees you from the 9-to-5.

This website uses cookies. By continuing to browse the site, you are agreeing to our use of cookies

What is the best business plan template for a law firm and where can I find it?

June 24, 2024 /

The best business plan template for a law firm can vary depending on the specific needs and goals of your firm. However, a highly recommended option is to use a professionally designed template that is tailored specifically for law firms. These templates often include sections for outlining your firm’s mission, target market, competitive analysis, marketing strategies, financial projections, and more. You can find such templates on reputable websites that offer business plan templates for various industries, including law firms. It is advisable to choose a template that is comprehensive, visually appealing, and easy to customize to suit your firm’s unique requirements.

• What are the key components to include in a medspa business plan template?
• What are the best business plan templates recommended by the Reddit community?
• Where can I find a comprehensive business plan template specifically designed for a medical practice?
• What is a recommended three-year business plan template for effective presentation design?
• What is the best business plan template for startups?

Popular Posts

Common Challenges in Tailoring Presentations—and Solutions

Dos and Don’ts of Pre-Seed Pitch Deck Creation

How to Write a Teaser Pitch Deck that Captivates

Tips for a Persuasive How It Works Slide

What Not to Do When Presenting Funding History

Why Raising Funds Without a Pitch Deck Can Backfire