Best Niches for Online Consulting Business Ideas
With the rise of globalization and technology, the number of opportunities in the business circle have skyrocketed over the past decade. During such times, the market gets swarmed with new business ideas from all domains. To have the edge over competitors, new companies require professional guidance.
This is the area where professional consulting comes into play. Over the years, consulting services have become a necessity for companies; no matter how big these companies are, they all need a well-established marketplace for consultancy services.
This article will discuss the best online consulting business ideas across different Niches and help you decide which niche will suit you best.
Why is the consulting industry going digital?
Before we move into knowing the top consulting business ideas, let us understand the shift of the consulting industry into the digital medium.
With the introduction of cutting-edge technologies like artificial intelligence, robotics, automation, and the internet of things, the consulting industry can tap into a whole new realm of possibilities that allows them to share better solutions with their clients. The consulting industry can only avail these resources if they are willing to switch from traditional methods to the digital space.
Also, with the introduction of digital mediums and tools, the consulting companies can now expand their services from offline project-based, value-adding advisory-based to more routine-based tasks such as application development and maintenance.
The most Profitable consulting business ideas
Now that we have understood the shift of the consulting business into the digital sphere let us look at the top consulting business ideas.
Job consultant: As the name suggests, a job consultant helps the client along their path to ace the career deciding factors like searching for a job, cracking an interview, getting into an internship, and more. In a career consulting marketplace, career consultants come together to provide solutions like preparing resumes, cover letters, professional online profiles, and portfolios and teaching essential interview skills to those in need. This marketplace earns enormous profits due to the increasing rate of people seeking career guidance.
eg: Upwork is an excellent example of a job consulting business. This company has a reputation for working with top brands like Microsoft, airbnb, GoDaddy and more.
Marketing consultant: The marketing niche has been standing firmly as a top consulting business idea for a long time. Companies require their products and services to reach the masses to gain maximum profit, so they hire marketing consultants regularly. A marketing consulting marketplace deals with many clients (companies) to provide them with services like email marketing, content marketing, content advertisement, paid acquisitions, and many more. Companies like Accenture Interactive earn massive amounts of profit through marketing consulting. As a marketing consultant.
eg: Toptal has secured an estimated online revenue of more than $150 Million.
Financial consultant: Handling the finances of a company can be one of the most uphill tasks. Companies usually struggle to keep track of their finances and to optimize them. As a financial consultant, you will be responsible for observing cutbacks to increase profits and increase a company’s bottom line limit. Usually, more prominent companies have a dedicated finance team to handle such matters, but small businesses lack the money to have a full-fledged finance team onboard. These small companies seek help from a financial consulting marketplace to do the heavy lifting at a reasonable price.
eg: Paro is one of the most influential financial consulting companies in the world. In the fiscal year 2020, its revenue worldwide was $7 million.
IT Consultant: Ever since digitalization has taken over the business landscape, keeping the necessary software in check is crucial for running smoothly. To deal with expensive software used by the company, IT consultants get hired. This role requires an in-depth knowledge of computers and software as a whole. IT is a highly profitable consulting business marketplace idea as it helps to earn a massive amount of income.
eg: The company Consultport is a big name in the IT consulting industry, and has consultants from big brands like Amazon, Bosch, Google, Ebay, and more.
HR Consultant: An HR consultant advises management on hiring decisions, human resource planning, and processes. Some companies may want the consultant to be actively involved in suggesting workplace-related solutions and creating new policies.
eg: The company named One Circle Hr is a prevalent example of an HR consultancy brand.
Fitness Consultant: Many people have mistaken a fitness consultant to be a mere fitness coach. A fitness consultant will guide you through your fitness journey and act as a lifestyle and nutrition guide. A fitness consulting marketplace comprises experts in the field of fitness, nutrition, and lifestyle. With increasing health and fitness concerns, this field is a gold mine for people with a relevant background.
eg: The consulting company ClassPass holds a reputation of being the fitness and lifestyle reviewer for the majority of people in cities like Las Vegas, New York, Portland and more.
Social Media Consultant: Social media is one of the most powerful tools to help a business grow. Being a social media Consultant makes you responsible for creating engaging content across all company’s social platforms. It also requires you to understand how the algorithm of different social media platforms works and maximize engagement. If you set up a social media consulting marketplace, you can get a chance to work with some reputed brands.
eg: Catalant holds a reputation for providing top social media consultancy services. The company has worked for clients like Pfizer, Crocs, Shell, and many more.
Business Consultant: Business consultants are sought by a company to solve a specific business-related problem that the company faces. The business consulting marketplace is known for analyzing critical practices in a business and to suggest key improvements. They are responsible for procedures ranging from employee training to complex tasks such as laying off employees. Business Consulting marketplace can earn massive revenue if appropriately placed, which is why it is a brilliant online consulting business idea.
eg: The Business consulting firm Clarity has generated a soaring revenue of $3 million with just 19 employees and is growing steadily.
Legal Consultant: Every business needs a team or a set of individuals to handle the legal proceedings. A legal consulting marketplace provides trained law professionals to help these businesses solve the legal matters attached to their companies. The consulting sphere has witnessed a significant rise in the number of Legal consulting marketplace businesses.
eg: The Australian company Lawpath. Founded in 2012, this company has already made its name as Australia’s largest online legal platform for companies and individuals.
Doctor Consultant: In a doctor consultant marketplace, you will be providing many things such as telehealth, telemedicine, telecare, mHealth, and digital health care services. This is considered highly profitable due to the ever-growing demand for healthcare facilities in the world.
eg: The company Practo is an excellent example of such a platform. It allows you to consult 20000+ Online Doctors through chat, call & get answers to all your issues in 60sec.
These online consulting business ideas are just a small chunk from the sea of endless opportunities in the domain. As a seeker, you must be willing to leap forward to explore your favored field. But setting up your online consultation marketplace at the beginning can be daunting at the start. Pinlearn can be a big helping hand for you to set up your online consultation marketplace without any complicated coding. It can provide you with the top-notch features required in your online marketplace and also give you the complete power to control in easy steps. Help your consultation business idea score the home run using Pinlearn.