How Much Does It Cost To Start A Consulting Business? (In 2024)

Updated: January 18th, 2023
Start A Consulting Business

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

The cost of opening a a consulting business can vary based on several factors. However for a a consulting business you can expect to spend $62 to $23,259 with an average cost of $12,272.

  • The minimum startup costs for a consulting business: $62
  • The maximum startup costs for a consulting business: $23,259
  • The average startup costs for a consulting business: $12,272

Here's a detailed list of a consulting business startup costs:

Learn more about starting a consulting business:

Where to start?

-> How to start a consulting business?
-> Consulting business plan
-> How to finance a consulting business?
-> Pros and cons of a consulting business
-> How to get clients for a consulting business?

Need inspiration?

-> Other consulting business success stories
-> Examples of established consulting business
-> Marketing ideas for a consulting business
-> Consulting business names

Other resources

-> Profitability of a consulting business
-> Consulting business tips

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost Required? Min Cost Max Cost

Set up business: LLC & Corporations

Required

$50

$500

Small Business Insurance

Recommended

$500

$2,000

Permit and License Fees

Optional

$50

$700

Lawyer Fees

Optional

$0

$1,500

Software Expenses

Your consulting business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost

File Hosting Service

Recommended

$0

$299

Email marketing tool

Recommended

$0

$100

CRM Software ➜

Recommended

$12

$300

Project Management Software

Recommended

$0

$25

Internal Communication Tool

Recommended

$0

$20

Accounting & Invoicing Software

Recommended

$0

$50

IT Support ➜

Optional

$150

$2,000

Social Media Management Tools

Optional

$0

$50

Design Programs & Software

Optional

$0

$50

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your consulting business grows.

Cost Required? Min Cost Max Cost
Rent ➜

Optional

$0

$5,750

Utility Costs For Office Space ➜

Optional

$0

$1,150

WiFi & Internet ➜

Optional

$0

$100

Employee & Freelancer Expenses

Cost Required? Min Cost Max Cost
Payroll Costs & Fees ➜

Optional

$150

$250

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜

Required

$12

$200

Website Hosting Costs ➜

Required

$0

$300

Website Builder ➜

Recommended

$10

$500

Business Email Hosting Service ➜

Recommended

$1

$15

Web Designer ➜

Optional

$200

$6,000

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Business Cards ➜

Optional

$0

$50

Networking Membership Fees

Optional

$0

$250

Direct Campaigns, Printing and Mailing

Optional

$0

$300

Press

Optional

$0

$500

Google Ads

Optional

$0

$300