7 Consultancy Business Success Stories [2024]

Updated: November 19th, 2023
Start A Consultancy Business

According to the US bureau of labor, the demand for business consultants will increase by 11% in the next few years. Business consultants are professionals who help companies achieve their goals or to streamline business operations in a particular business area.

Companies need consultants and management professionals to assist them in IT, finance, marketing, supply chain management, HR, Operations, Engineering, and security matters. If you enjoy providing entrepreneurs professional advice, consider starting a business consultancy career.

To become a business consultant, decide which areas you want your focus to be. Then, earn a bachelor's degree in your area of interest. Then, join industry groups to practice and gain essential skills.

Here are some real life success stories of starting a consultancy business:

1. Third Eye Advisors ($120K/year)

Arthur Robertson, the founder of Third Eye Advisors, was inspired to start his investment advisory firm after realizing the lack of financial education and literacy among millennials and Gen X. Coming from a background in finance and with a passion for managing and investing money, he saw the opportunity to provide customized financial planning and investment solutions to millennial business owners in the tech and cannabis industries. Within three months of starting the firm, Robertson was able to recoup his initial start-up costs of $10,000-$15,000 from serving clients.

How much they make: $120K/year
How much did it cost to start: $13K
Current team size: 3

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How I Started A $10K/Month Financial Planning And Investment Management Company

Third Eye Advisors is a boutique Registered Investment Advisor (RIA) providing customized financial planning and investment solutions to millennial business owners, founded by Arthur Robertson with start-up costs of approximately $10,000 to $15,000, recouping those costs within three months of serving clients, while the team is currently expanding and looking for Financial Advisors to come on board in Q4 2020.

About
They started Third Eye Advisors over 4 years ago
Revenue
They grew the business to $10K/month
Costs
It cost $13000 to start the business
Read by 6,315 founders

2. HIC GLOBAL SOLUTIONS ($120K/year)

Piyush Singhal, the co-founder and CEO of HIC Global Solutions, came up with the idea for his Salesforce consultancy business after working with multiple CRMs and recognizing the potential of Salesforce in helping businesses of all sizes. Despite facing financial struggles and working out of a small apartment, the company grew to have offices in four different locations and an estimated yearly revenue of $8M. Through their focus on customer satisfaction and word-of-mouth referrals, HIC Global Solutions has become a leading provider of Salesforce services.

How much they make: $120K/year
Current team size: 60

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I Started A $120K/Year Salesforce Consultancy Business [From India]

HIC Global Solutions provides out-of-the-box Salesforce services to clients across industries, with estimated yearly revenue of $8M, including partnerships that have helped them retain over 60% of their customers, and offering career opportunities.

About
Piyush started HIC GLOBAL SOLUTIONS over 8 years ago
Revenue
Piyush grew the business to $10K/month
Read by 3,653 founders

So... can you actually make money with a consultancy business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now

3. Emirabiz ($1.2M/year)

Elena and Andrew, the founders of Emirabiz, came up with the idea for their business after seeing a huge demand for business incorporation in the UAE market. They noticed that many consultants in the industry were unprofessional and dishonest, so they aimed to provide better quality services with transparent pricing. Through Google Ads and SEO optimization, they were able to attract and retain customers, reaching an average monthly revenue of over $200K.

How much they make: $1.2M/year
How much did it cost to start: $5.5K
Current team size: 15

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We Make $1.2M/Year Helping People Set Up Their Companies In UAE

Emirabiz, a business consultancy company in Dubai, has grown to 15 full-time employees and boasts an average monthly revenue of over $200k USD by offering transparent pricing and being customer-oriented in assisting people in their business registration in UAE, a country that has seen a huge demand for business incorporation.

About
Elena started Emirabiz over 9 years ago
Revenue
Elena grew the business to $100K/month
Costs
It cost Elena $5500 to start the business
Read by 3,363 founders

4. Draft ($216K/year)

Passionate about UX design since the very start, Nick wasn't able to get a job in this industry. He began with writing a book about to how to get started in UI UX and became one of the earliest hit projects of Kickstarter back in 2008, raising over $10k. 5 years later, taking a month off from his UX job, Nick decided to continue with working independently like he did with his book, and formulated Draft, a company that he runs entirely on his own terms even after a decade.

How much they make: $216K/year
How much did it cost to start: $100
Current team size: 1

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How I Run A $18K/Month Interaction Design Consultancy

Learn how Draft, an interaction design consultancy known for their influential books on design & technology, has thrived through word-of-mouth and niche outlets, bringing in an average of $18,000 a month split between consulting and educational work.

About
Nick started Draft about 12 years ago
Revenue
Nick grew the business to $18K/month
Costs
It cost Nick $100 to start the business
Read by 2,719 founders

So... can you actually make money with a consultancy business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

Join Starter Story and build your next big thing:

Start Now