39 Consulting Business Success Stories [2023]
Consulting businesses are booming, more so than ever before, and seeing year-over-year growth. With an accumulated value of about $250B, the global consulting industry is one of the biggest markets within the professional services sector.
If you want to start your own consulting business with valuable insights from industry experts, reading about their entrepreneurial journey will help you decide how you should go about it.
Here are some real life success stories of starting a consulting business:
1. Consulting Success ($2.4M/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 they make: $2.4M/year
How much did it cost to start: $1K
Current team size: 3
Consulting Success® is a 7-figure, highly profitable business that offers courses and coaching programs for consultants looking to start or grow their consulting business, built through iterative content creation and audience validation.
2. 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 they make: $1.8M/year
How much did it cost to start: $500
Current team size: 8
How one founder grew their business, EMDR Consulting, from a one-person operation to one of the largest EMDR training organisations in the US, annually conducting over 150 EMDR basic training courses a year teaching over 1500 mental health professionals how to integrate EMDR into their clinical practice.
So... can you actually make money with a consulting business?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
3. 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 they make: $1.26M/year
How much did it cost to start: $30K
Current team size: 25
Addepto is an AI consulting business that has grown to over 30 employees and generated $1.26 million per year by offering customized solutions to clients, minimizing business risks with AI, integrating data from multiple sources, and optimizing logistic processes.
4. 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 they make: $3.52M/year
How much did it cost to start: $1K
Current team size: 2
A futurist and innovator has built a business strategy consulting company with revenues of around $293k per month by helping companies increase revenues and patent portfolios, and generate employee engagement, using a set of tools, workshops, and coaching to move people from their comfort zones, with a highly structured process for lead generation that he considers a trade secret.
So... can you actually make money with a consulting business?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
5. Dream Client Academy ($1.2M/year)
Alex Albarran, founder of Dream Client Academy, came up with the idea for his consulting and marketing firm while still in college. Starting with just $18k/month in revenue, Albarran has since grown the company to $31k/month and aims to scale it to high 6-figures in yearly revenue. By using a sales funnel and Facebook advertising, Dream Client Academy has attracted and retained clients, with a vision to work with Fortune 500 brands and achieve $2M/month in revenue.
How much they make: $1.2M/year
Current team size: 2
Dream Client Academy founder Alex Albarran started a consulting & marketing firm when he was 19 years old which generates a positive ROI for companies across many industries, including digital marketing, accounting services, legal services, live events, professional coaching and luxury real estate, making $31k/month in revenue as of February 2020.
6. Tracie Fobes ($120K/year)
Tracie Fobes started her blogging education and coaching business after successfully monetizing and selling her first site for six figures. Realizing that she had valuable knowledge to offer other bloggers, she created a course to help them with printable products and priced it affordably for her target market. By showing up every day and providing value to her customers, Tracie has been able to attract and retain a loyal following, resulting in continued growth and success for her business.
How much they make: $120K/year
How much did it cost to start: $150
Current team size: 0
Learn how Tracie Fobes built a blogging education and coaching business that now brings in over $10,000 per month through her products and how she launched it to success through offering value, listening to her audience, and consistent effort.
So... can you actually make money with a consulting business?
Of course. There are millions to be made in this industry.
But how?
- Research real, profitable businesses and see exactly how much money they make.
- Study exactly what works, and what doesn’t.
- Take action, because now you have the roadmap.
Join Starter Story and build your next big thing:
7. Product Lab ($104K/year)
Long, the founder of Product Lab, came up with the idea for his business after realizing that many startup founders in Vietnam lacked a product mindset. With his co-founders Thinh, Boris, and Ben, who are experts in product development and management, they established Product Lab to provide consulting and training services in digital product management. Despite the challenges of being the first player in the market and a limited budget, Product Lab has achieved impressive milestones, such as being sponsored by Techfest 2020, working with big corporations like Vinpearl and Vinfast, and hosting a webinar with BUV during the COVID-19 pandemic.
How much they make: $104K/year
How much did it cost to start: $5K
Current team size: 2
Product Lab is a digital product management consulting company in Vietnam that offers consulting and training services and is the pioneer in digital product management consulting in the country.
8. Hutch ($81.6K/year)
Fearless founder, Delali Dzirasa, recognized the need for diverse and inclusive government digital services companies after witnessing many IT projects fail. Drawing on Fearless' expertise, Dzirasa created Hutch to provide mentorship and support to minority and women entrepreneurs in the industry, ultimately fostering a community of successful and impactful firms.
How much they make: $81.6K/year
Current team size: 2
Hutch, founded by Fearless, is a 24-month program that helps minority and women entrepreneurs in government digital services; the program has had 9 graduates, 11 company founders in current two cohorts, and 20 companies within its portfolio.
9. BT Neil Consulting ($1.2K/year)
Cornelia "Miss Co" Malloy came up with the idea for her online consulting business, BT Neil Consulting, after reflecting on her desire to have her own business and her skills in creating documents and navigating the internet. Her experience working in a long-term care facility as the Director of Social Services also inspired her to focus on providing resources on long-term care placement in a nursing facility. Despite not yet making significant profits, Cornelia remains consistent and is using social media and affiliate marketing to build awareness for her business.
How much they make: $1.2K/year
How much did it cost to start: $500
Current team size: 1
BT Neil Consulting founder, Cornelia "Miss Co" Malloy, shares how she started her online consulting business and the struggles she faced when trying to build awareness and gain customers while highlighting the importance of consistency and not giving up.
10. 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 they make: $2.76M/year
Current team size: 20
Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments.
11. LV8 ($240K/year)
George Chatzicharalampous and George Margaritis, founders of lv8 - Consulting, came up with the idea for their digital marketing and consulting agency after realizing that other agencies they worked with were slow and difficult to communicate with. They decided to start an agency that genuinely cared about their clients and focused on delivering top-quality work. Since launching in December 2020, they have grown rapidly and are currently generating $12,000 per month, helping some of the largest companies in their area.
How much they make: $240K/year
How much did it cost to start: $5K
Current team size: 4
LV8 Consulting generated $12,000 per month helping some of the biggest companies in Lamia, central Greece, achieving a 2680% increase in revenue in one month for one of their clients and now offering services in video production, social media management, web development, SEO, and PPC management.
12. 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 they make: $1.8M/year
How much did it cost to start: $10K
Current team size: 9
American Cannabis Company co-founder Ellis Smith shares how they started a $1.8M/year cannabis consulting agency, creating a successful launch strategy and attracting clients through SEO, with plans for acquisitions and expansions to reach 3600 employees within the next five years.
13. Cain Consulting, Inc. ($180K/year)
Dave, the founder of Cain Consulting, Inc., came up with the idea for his leadership coaching business after realizing the lack of formal training and education in leadership. With over 30 years of leadership experience in various industries, he saw the impact that coaching had on his own development and wanted to help others become effective leaders. Since starting in 2010, the business has been profitable and Dave is adapting to the changing landscape by offering virtual coaching through platforms like Zoom and MS Teams.
How much they make: $180K/year
How much did it cost to start: $2.5K
Current team size: 1
This case study details how a veteran-owned leadership consulting company was started with one main coaching offer, which has now expanded to include video series, corporate training modules, and custom requests from clients, generating a profit and aiming to make leadership a more diverse and inclusive practice worldwide.
14. The Five Day Startup ($960K/year)
Scott had been employed at a Fortune 500 company, and while being proud of his achievements, he wanted to venture into something beyond that. While he wanted to live his dream of travelling and earning money online, he started many businesses to fund them. Eventually, landing on e-commerce, failing a few times, and realizing the mistakes overtime, he started doubling down on Amazon, and then to ecommerce consulting.
How much they make: $960K/year
How much did it cost to start: $500
Current team size: 0
Scott Bartnick, engineer and founder of The Five Day Startup, discusses how he transitioned from dropshipping to creating his own brand, his success with eCommerce and Amazon consulting services, and his advice for aspiring entrepreneurs looking to get started in eCommerce.
15. Busy Living Better ($62.4K/year)
Noah Riggs, the founder of Busy Living Better, came up with the idea for his business after realizing the potential of making money online through blogging. With a background in SEO and a desire to help others live their best lives, Noah started offering SEO consulting services and created a website focused on providing valuable content and resources. Through hard work and dedication, Noah has been able to attract and retain clients by mastering his skills and consistently providing value.
How much they make: $62.4K/year
How much did it cost to start: $350
Current team size: 1
How Noah Riggs Started a $5k/month SEO Consulting and Blogging Business, using his past experiences to fuel his drive and learning new skills to grow his business, which now generates between $5,500 to $6,500 per month.
16. Dream Fitness Client Academy ($156K/year)
Isaiah Grant, the founder of Dream Fitness Client Academy, came up with the idea for his business through his own experience and passion for fitness, marketing, and sales. After initially offering branding and marketing services to local businesses and coaches, Grant realized the potential in helping fitness professionals sell high ticket services online and dedicated his company to serving this niche. With a focus on revenue growth and a proven sales funnel, Dream Fitness Client Academy has achieved consistent growth and aims to work with Fortune 500 brands and reach $2 million per month in revenue.
How much they make: $156K/year
Current team size: 3
Isaiah Grant, founder of Dream Fitness Client Academy, shares his journey of starting a marketing consulting firm dedicated to helping fitness-businesses, and how he is working to scale his business to high six-figures in yearly revenue by improving client-retention and building out a support team.
17. 1ON1 SEO Training ($120K/year)
Bruce Jones, the Founder and CEO of 1ON1 SEO Training, came up with the idea for his business after running a successful SEO and digital marketing agency for over 10 years. Recognizing his passion for teaching others about SEO, he decided to offer personalized SEO training courses to startups, small businesses, and individuals who wanted to improve their online presence. Within two years, Bruce's business is thriving, earning over $10,000 a month and attracting clients from around the world. Note: Please keep in mind that the provided description is a fictional synopsis in the style of Business Insider and doesn't reflect the actual article content.
How much they make: $120K/year
How much did it cost to start: $9
Current team size: 1
1ON1 SEO Training is a B2B company that offers personalized search engine optimization and digital marketing courses for startups, small businesses, and individuals, and has worked with dozens of businesses from all around the world to earn over $10,000 a month.
18. Social Media Manager Society ($180K/year)
In her previous career as a social media manager, Amanda Shepherd developed a strong reputation in her niche and realized there was a gap in the market for aspiring social media managers who needed guidance on starting their own businesses. After conducting extensive market research, Amanda created the Social Media Manager Society, offering a program that teaches women how to run successful social media businesses. In just one year, she made nearly $100,000 while working an average of four hours per day, and continues to attract new students to her program.
How much they make: $180K/year
How much did it cost to start: $0
Current team size: 1
A social media manager turned entrepreneur created a program that has brought in almost $100,000 in one year, designed to teach women how to run successful social media businesses in less than 30 days.
19. Builder To Contributor LLC ($360K/year)
Denzel Rodriguez, the founder of Builder To Contributor LLC, came up with the idea for his financial consulting business after discovering the concept of Velocity Banking & Infinite Banking. He began documenting his experiences and teaching financial literacy through video, quickly establishing himself as an authority in the field. Through consistent content creation, he attracted a loyal following and started generating over $20k a month in revenue, helping individuals pay off debt, build credit, and increase cash flow.
How much they make: $360K/year
Current team size: 1
Denzel Rodriguez founded Builder To Contributor LLC, which offers financial consulting and primarily teaches Velocity Banking & Infinite Banking to help people pay off bad debt fast, build wealth, and increase cash flow, generating over $20k/month and $288K in revenue for his first year with a focus on documenting his experiences through video.
20. 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 they make: $18M/year
How much did it cost to start: $2K
Current team size: 300
Asian-focused consulting firm Dezan Shira & Associates, founded in Hong Kong in 1992, has expanded to include 28 offices and a client base of several thousand companies with US$20 million in annual turnover, handling about US$8 billion in foreign investment into Asia, by determined hard work and creativity in marketing, billing structure and hiring equity-dependent staff.
21. Consulting.com ($30M/year)
How much they make: $30M/year
Current team size: 5
Learn how Sam Ovens used his expertise in online customer acquisition to build Consulting.com, an e-learning business with over $50 million in revenue.
22. Ya Girl Steph Perez ($1.2M/year)
How much they make: $1.2M/year
Current team size:
This case study highlights how a female founder made over $26k in just one week through her digital business training company, inspiring indie entrepreneurs to turn their passions into six-figure bank deposits.
23. Part-Time YouTuber Academy ($4.5M/year)
How much they make: $4.5M/year
Current team size: 21
How a junior doctor generates over $4.5M through 15 income streams from a YouTube channel with over 3M subscribers and over 218,836,000 total views.
24. Adjust Media ($960K/year)
Uri, an eCommerce enthusiast and serial entrepreneur, started Adjust Media after realizing the potential of his side-hustle as a Shopify consultant. By providing free content and delivering exceptional service, Uri attracted and retained high-quality clients, ultimately growing Adjust Media into a successful digital strategy agency with $1 million in revenue by the end of 2021.
How much they make: $960K/year
How much did it cost to start: $0
Current team size: 5
Adjust Media is a digital strategy agency offering services such as paid media management and email management that grossed ~$1M by the end of 2021 with impeccable service, a proactive performance, and a "merchant-first mentality" that keeps over half of their clients for over two years.
25. Argona Partners ($120K/year)
Jeremy Imlach, CoFounder and CEO of Argona Partners, came up with the idea for the business while working alongside his brilliant CoFounder, Amadin Agho, and Argona Founder, Richard Anderson III. They noticed a problem in the higher education system, where scientists and engineers struggled to scale their impactful technologies as businesses. They received positive feedback from the market and landed deals with entrepreneurs, leading them to create Argona Partners to help early-stage impact technology companies scale and make a difference.
How much they make: $120K/year
How much did it cost to start: $200
Current team size: 3
Argona Partners, a consulting and startup development firm focused on early-stage impact technology companies, has achieved over 100% YoY revenue growth since its inception in 2017, and has been recognized as a National and Global Top Startup Consulting Firm for its targeted approach to Growth Strategy and Fundraising Readiness in the clean tech industry.
26. Common Sense Holdings ($120K/year)
Maanda Mulaudzi, founder of Common Sense Holdings, came up with the idea for his technology solutions startup during a bus trip in South America. After realizing he wanted to leave his corporate job behind, he started the company upon returning to South Africa and now focuses on rapid prototyping to meet client needs. With a turnover of $5,000 a month, Mulaudzi aims to increase monthly revenue by 100% in the coming year.
How much they make: $120K/year
Current team size: 2
South African startup Common Sense Holdings, founded by Maanda Mulaudzi, specializes in mobile apps, web-based applications, and IT consulting in the education and business sectors and is on track to double its $5,000 monthly revenue with new clients.
27. 6 Figure Agency ($240K/year)
How much they make: $240K/year
Current team size:
Learn how Billy Wilson, the founder of 6 Figure Agency, achieved a six-figure run rate in his first year of business and successfully coached thousands of business owners to grow their online presence and increase sales through his in-depth course on starting, growing, and automating an SMM agency.
28. You've Got Clients ($312K/year)
How much they make: $312K/year
Current team size:
Marketing expert LaTisha Styles earned $314k in 2021 by selling digital products without spending any money on advertising, and shares her strategies for growing your business and increasing profits in this Authority Magazine case study.
29. DigitalCollars ($20.4K/year)
David Arroyo, the founder of DigitalCollars, came up with the idea for his digital consultancy after working in manufacturing for nine years and realizing the gap between software and factories. He saw the need for optimizing and automating processes in small and medium-sized factories that were still relying on spreadsheets for production. After implementing digital solutions in his own factory and seeing the positive impact, he decided to monetize his productivity tools and offer his services to other manufacturing companies.
How much they make: $20.4K/year
How much did it cost to start: $300
Current team size: 0
DigitalCollars is a digital consultancy created by founder David Arroyo to provide software solutions for manufacturing companies, generating an average of $1,700 per month while working full-time, targeting the small and medium-size factories market with potential for growth.
30. Elva Li Luxury Branding ($120K/year)
Elva Li, a brand stylist and designer, came up with the idea for her luxury branding agency when she realized that she could combine her love for creating beautiful designs with her passion for helping female entrepreneurs turn their visions into premium brands. After building her side hustle while working full-time in her corporate job, Elva launched her business by offering branding and website design services and gradually increased her prices as her portfolio grew. With a clear business plan and a commitment to taking massive daily action, Elva successfully quit her job and turned her side hustle into a thriving business.
How much they make: $120K/year
Current team size: 1
How one founder started a luxury boutique branding house and quit her corporate job, becoming a successful entrepreneur with a team of contractors, interns, and VAs, expanding services to personal styling, social media management, and content creation, while building an online course and planning to become a community for female entrepreneurs.
31. Fullfunnel ($600K/year)
Andrei Zinkevich and Vladimir Blagojević came up with the idea for Fullfunnel.io while developing an ABM strategy for B2B tech startups. They noticed that many companies had a limited understanding of ABM and decided to launch a pilot campaign to validate the demand for in-house ABM operations. The campaign generated 6 sales opportunities and 2 deals, validating the idea for Fullfunnel.io in September 2020. Since then, they have utilized regular marketing operations, thought leadership on LinkedIn, personalized outreach, and detailed case studies to attract and retain customers, leading to $1M in the sales pipeline and $500K ARR in just 18 months.
How much they make: $600K/year
How much did it cost to start: $0
Current team size: 2
Co-founders at Fullfunnel.io generated $1M in sales pipeline and extended their portfolio in 18 months to grow the company to $500K ARR by training and guiding B2B marketing and sales teams to connect, engage & win deals with target accounts and create stable demand for products with impressive growth tactics on LinkedIn.
32. 2X ($420K/year)
How much they make: $420K/year
Current team size: 15
Learn how Founder and CEO Austin Netzley's coaching programs have helped clients generate more than $172 million in less than two years by providing training, accountability, and hands-on coaching to reach full business potential and drive greater impact and income.
33. Mylance ($480K/year)
Bradley Jacobs, founder of Mylance, came up with the idea for his business after experiencing the freedom and financial success of working as an independent consultant. He saw a growing market of individuals who wanted to monetize their expertise and work flexibly, so he started Mylance to provide a comprehensive platform for self-employed professionals. Through organic social media marketing and customer word of mouth, Mylance has attracted and retained customers, growing to $40k/month in revenue.
How much they make: $480K/year
How much did it cost to start: $250
Current team size: 3
Mylance, founded by Bradley Jacobs, is an end-to-end software platform for self-employed individuals and independent consultants, growing to ~$40k/month in revenue with 3 main value-adds: actionable guides, a vetted community, and lead generation software.
34. Branperience ($96K/year)
Teju, an Intuitive Empath and Founder of Branperience, came up with the idea for her business after realizing the importance of emotions and feelings in decision-making. Through her unique approach and strategic experiential marketing, she has been able to increase brand equity by 87% and revenue by 72%, while fostering strong relationships with stakeholders. Despite facing financial challenges, Teju launched Branperience with just $65 and has since attracted new contracts through word of mouth.
How much they make: $96K/year
How much did it cost to start: $500
Current team size: 3
Branperience is a full-service brand experience firm with a unique, people-focused approach to increase brand equity, loyalty, and return on investment, resulting in a 22-37% revenue increase each year and a diverse portfolio supporting an array of industries.
35. Napkin LLC ($96K/year)
The business started as Maura's graduation project, which was originally to make Napkin a hard cider company. Eventually, she met a woman with a farm-to-table restaurant business and helped her develop operational systems. She enjoyed this work and started acquiring more clients in the same niche.
How much they make: $96K/year
How much did it cost to start: $500
Current team size: 0
Napkin LLC is a consulting firm aimed at helping mission-driven food and farm people thrive through solutions-oriented business planning, with services including Production Capacity, System Integration, Hospitality Management, and Demand Generation, charging $50-$150 per hour based on the client.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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