Asking the question "How much does it cost to start a marketing consulting business?" Is like asking "How much does it cost to build a new home?" or "How much will it cost to buy a new car?" It depends . . . What kinds of businesses do you want conduct consulting with? Will you need to fund travel for the sales process? Will you only be local and need memberships in various networking groups or chambers to generate referral business? Can you manage your own calendar and books or do you need to pay for an assistant? How about office space, do you have space or need to lease space? Is your wardrobe appropriate for the types of businesses you are pursuing? There are services that link consultants with jobs - those services can run anywhere from $1500 per year to $3500 per year, depending on the service level. Let's not forget needing a website, blog and other internet marketing tactics or basic collateral, such as a logo, business cards and a brochure or information packet. The first part of figuring out the cost is identifying your ideal client, your target market. Then, you must evaluate the resources you already have and the resources you will need to develop. And just because you can quickly evaluate the marketing needs of other companies, doing it for your own company is a whole different ball game. Starting a new business, is no small under taking and should not be entered into lightly. No matter how good you are or how many resources you have, plan on 3-5 years in building, testing and evaluating before you feel like you are standing firmly with income and clients.
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