Consulting Business

How Much Money Do Consulting Businesses Make? (2024)

Pat Walls

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Updated: June 23rd, 2024

TL;DR:

Based on our data, consulting businesses can make between $100-$1,500,000 per month.
The average revenue for a successful consulting business is $106K per month.
The highest grossing consulting business in our records makes over $18,000,000 per year.
Consulting business owners salaries can vary wildly depending on industry, niche, and size of the business

So you're thinking about starting a consulting business?

And now you're wondering how much consulting business owners actually make...

Well, let’s dive in!

Here are example of real consulting businesses and how much money they make - as reported by the founders themselves:

1. Dezan Shira & Associates ($18M/year)

Chris Devonshire-Ellis started Dezan Shira & Associates in Hong Kong in 1992 with very little capital. Despite warnings not to go to China, he saw its potential and moved there to explore business opportunities. Through hard work, strategic networking, and innovative marketing techniques such as distributing pamphlets and utilizing the internet, the business grew to become one of the most influential consulting practices in Asia with 28 offices across the region and a turnover of approximately $20 million per annum.

How much money it makes: $18M/year

2. Alex Albarran & Co. ($6.49M/year)

At 12, Alex Albarran got his start by buying and selling Jordan sneakers, sparking an interest in marketing that led him to sell his car for $5,000 to fund his business. Today, his online marketing and consulting company grosses $541k monthly, emphasizing client-focused, hands-on coaching.

How much money it makes: $6.49M/year

3. HelloFuture ($3.52M/year)

Kalaboukis, a futurist and innovator, always dreamt of living in the future and creating it. After realizing that people's fear of change is what holds them back from embracing innovation, he started hellofuture to provide tools, workshops, and coaching to help individuals and companies innovate without fear. With revenues of around $293k per month and a portfolio of 122 patents, Kalaboukis is helping others create their ideal future.

How much money it makes: $3.52M/year

4. Eden Data ($2.76M/year)

Meet Taylor Hersom, founder of cybersecurity consulting firm Eden Data. After working as a Chief Information Security Officer (CISO) and realizing the high cost of hiring a CISO, Taylor came up with the idea of offering startups a virtual CISO subscription at a more affordable price. Since launching in March 2020, Eden Data has scaled to four team members and has achieved an impressive MRR of $45,000, all through remote services and with minimal startup costs.

How much money it makes: $2.76M/year

5. Consulting Success ($2.88M/year)

Michael Zipursky, founder of Consulting Success®, came up with the idea for his business after running and selling several businesses with his cousin Sam. They wanted to create a business that allowed them to work from anywhere and have the freedom to travel. By sharing their expertise and providing valuable content, they built an audience that eventually requested a course and coaching program, leading to the launch of Consulting Success®.

How much money it makes: $2.88M/year

6. EMDR Consulting ($1.8M/year)

EMDR Consulting training, I included the consultation fees in the overall cost, making it a more comprehensive and valuable offering. Marketing: I utilized online platforms such as websites, social media, and email marketing to promote my training events. I also leveraged my reputation and network within the EMDR community to spread the word about my new training organization. Word-of-mouth: As attendees experienced the effectiveness and quality of my training, they shared their positive experiences with their colleagues, which generated further interest and traction for my events. Through these strategies, I was able to establish credibility, attract attendees, and build momentum for EMDR Consulting's training events.

How much money it makes: $1.8M/year

7. American Cannabis Company ($1.8M/year)

American Cannabis Company, founded by Ellis Smith, started as a consulting firm in the cannabis industry in 2012. With Smith's background in cannabis cultivation and the emerging market in states like Colorado, they quickly realized the need for professional support in the industry. They launched their website with a strong focus on SEO, which helped them generate leads and become the first consulting company in the space. They have since grown their revenue to over $1.8 million a year and have plans to expand through acquisitions and operations in the coming years.

How much money it makes: $1.8M/year

8. Minor Workshop ($1.44M/year)

Paul discovered his business idea while working at an e-commerce company in 2012, where he transformed team efficiency using Asana, leading to a validating bonus from his employer. This insight into productivity tools eventually grew into a consulting business that now generates $90,000 monthly.

How much money it makes: $1.44M/year

9. Addepto ($1.26M/year)

Addepto, a leading AI consulting firm, was founded by Edwin Lisowski and Artur Haponik. With their shared passion for new technologies, they recognized the potential of AI-driven solutions for businesses and decided to start a company that offers customized data-driven solutions. Over the years, their focus on providing high-quality services and building a strong brand image has helped them attract and retain customers, leading to their remarkable success in the industry.

How much money it makes: $1.26M/year

10. Visualise Value ($1M/year)

After a few years of working on agencies, Jack was operating at a level where he could hear and see what brands were paying for work.

That's when he realized that he could offer 90% of the services his employers were providing, but take home a greater share of the margin if he went out alone.

How much money it makes: $1M/year