Retainer-Based consulting practice

Established local businesses such as contractors, clinics, restaurants, manufacturers and professional firms that want ongoing expert guidance.

Monthly retainers for a set amount of advice and meetings, plus extra fixed-fee projects such as audits or process rebuilds.

• Proven results in your specialist area
• Networking and selling your services
• Running workshops and meetings
• Project and client management

• Check your city or county for a business license, and your state for any tax registration needed
• General liability and professional liability insurance, and confirm what each covers
• Relying on one or two big clients is risky, so spread your client base
• Write clear contracts covering scope, confidentiality and payment terms
• Check whether your state requires a license for advice in regulated fields

Startup costs are typically around $1,000 to $5,000, depending on your branding, website, insurance, travel and any workshop materials. These are estimates, so adjust them to your specialty and local area.

Monthly revenue is typically around $3,000 to $15,000, depending on how many retainer clients you have, your fees and the time each client needs. Treat this as an estimate, and avoid relying on one or two clients.

Check your city or county for a business license and your state for any tax registration. Also check what general and professional liability insurance covers, write clear contracts, and check whether your state licenses advice in regulated fields.