How Profitable Is A Brand Consultant Business? (Updated for 2024)
So you want to start a brand consultant business?
And the first question that came to your mind was, “well, are brand consultant businesses actually profitable?”
With a market size of $250B - there’s plenty of business to go around.
Especially considering:
- You could start a brand consultant business with as low as $500
- Based on our data, brand consultant businesses generate an average of $4.36M per year
- You could see gross margins as high as 95% with brand consultant businesses
There’s money to be made. Don’t worry.
But, I don't want to spoil it all. Below we’ll cover everything you need to know when it comes to the profitability of a brand consultant business.
Let’s dive in!
Is a brand consultant business profitable?
Yes, a brand consultant business is generally a profitable business. However, you still need to consider several factors since these things always impact the overall outcome.
For instance, since average revenue is $4.36M per year with an estimated gross margin of 90%, you could expect to recover your investment within 7 months or even less.
But of course, it all comes down to how much you earn compared to the potential revenues of your brand consultant business.
To determine whether your business is profitable, you should earn more than your expenses in the beginning months. However, while you're in your first month, it can be challenging to know what to expect.
Therefore, you should maintain a record of your monthly expenses and income to determine whether you're meeting your goals. By doing this step, you can see how your brand consultant business is doing and if any changes or adjustments need to be made to enhance or maintain your efforts.
Is a brand consultant business worth it?
If you’re wondering if a brand consultant business is worth it, the answer is a big YES. With brand consultant businesses, you have the potential to earn $4.36M per year (this is based on data reported by real founders).
Further, you could have your initial investment back within months. Simply put, it’s a business worth a shot, especially if you have the resources and make the necessary efforts to achieve or surpass the target.
With a market size of $250B, it will be possible for you to build something that grows and turns into a flourishing business. As such, it’s the type of business you might want to consider starting.
Of course, you must learn and understand every aspect of running a brand consultant business to ensure success. Still, as long as you have the initial investment and can endure a few months before your actual gains, this business could be worth it.
You might want to consider reading more specifics about successful brand consultant businesses case studies.
Examples Of Profitable Brand Consultant Businesses
Here are a few examples of profitable brand consultant businesses, and a few more details about them:
1. Gabriel Neuman ($72K/year)
Gabriel Neuman, a successful WordPress developer, realized the need for individuals and enterprises to create and monetize their personal brands. He decided to productize his expertise and create a Personal Brand OS, aiming to double his monthly recurring revenue and grow his consulting and affiliate income. With his innovative approach, Gabriel plans to attract more customers by providing value-added services and content.
Is it profitable? Yes
How much money it makes: $72K/year
How much did it cost to start: $500
Gabriel Neuman founded a Personal Brand Marketing Agency in 2020, earning around $15k per month at present, with plans to double the MRR in 2021 through the creation of his new product “Personal Brand OS,” having validated his idea by creating small examples for 3 actual customers.
2. Spencer Patterson ($1.68M/year)
Spencer Patterson, an ex-financial broker turned product developer, launched a paywall platform in 2019 initially to streamline his own content operations. Seeing its potential as an alternative to Patreon, he monetized the bootstrapped SaaS to $125,000 - $142,000 MRR, ultimately selling it for $3.5M on Flippa.
Is it profitable? Yes
What's the gross margin? 95%
How much money it makes: $1.68M/year
How much did it cost to start: $6K
This case study is about a founder who launched a paywall platform for content creators in 2019, bootstrapping it from $0 and eventually selling it for $3.5M on Flippa, with the platform generating between $125,000 - $142,000 in Monthly Recurring Revenue (MRR) on 95% margins.
3. Mashman Consulting Group ($120K/year)
Is it profitable? Yes
What's the gross margin? 85%
How much money it makes: $120K/year
How much did it cost to start: $1.5K
Learn more about starting a brand consultant business:
Where to start?
-> How much does it cost to start a brand consultant business?
-> Pros and cons of a brand consultant business
Need inspiration?
-> Other brand consultant business success stories
-> Marketing ideas for a brand consultant business
Other resources
-> Blog post ideas for a brand consultant business
How much can you make with a brand consultant business?
With a brand consultant business, you can make an average of $4.36M revenue per year (based on data reported by real businesses).
You can start with an initial investment as low as $500. Then, with proper knowledge and sustained effort, you could have an ROI (return of investment) within 7 months.
How much does a brand consultant business make a week?
Based on our data, average weekly revenue for a brand consultant business ranges around $78.2K. As such, you could see monthly revenues of $313K.
To know if your brand consultant business achieves the weekly profit target, you need to keep track of the total earnings you get per day. Afterward, you'll want to consider subtracting the expenses you have daily.
Learning your weekly profit can also show whether you're hitting your target goal for your brand consultant business.
How much do brand consultant businesses owners make?
The income of a brand consultant business owner can vary depending on various factors such as location, size, competition, and the owner's business skills.
But to give you some idea, the weekly revenue of an established brand consultant business is about $78.2K. But this can be lower or higher depending on so many factors - it's almost impossible to say exactly.
While the potential for earning a good income as a brand consultant business owner exists, success in this field requires a commitment to providing quality products and services and building a strong reputation within the community.
Brand Consultant Business Profit Margins
Generally speaking, a brand consultant business can expect profit margin of around 90%. Profit margins refer to the percentage of revenue that remains after deducting all expenses associated with running a business. In the case of a brand consultant business, profit margins can vary depending on various factors, such as the type and quality of products sold, the size of the store, and the level of competition in the area.
However, these figures can vary depending on the pricing strategy, inventory management, and overall efficiency of the business. To maintain healthy profit margins, brand consultant business owners must focus on managing costs, negotiating favorable supplier terms, and providing high-quality products and services to attract and retain customers. By doing so, brand consultant business owners can ensure long-term sustainability and profitability for their business.
Brand consultant business owner salary
The salary of a brand consultant business owner is an unpredictable figure. It's significantly influenced by numerous factors, including the store's location, its size, and the degree of competition. An owner of a well-established brand consultant business, in a prime position, might see an average weekly salary around the ballpark of $70.4K.
But it's worth noting, such numbers aren't always consistent. The earnings can vary wildly, potentially swinging by as much as 80% either way.
Achieving consistent success and maintaining a reliable income stream in this industry requires a deep commitment. It's imperative to offer high-quality products, deliver impeccable customer service, and nurture a trusted bond with the community you serve.
Conclusion
In a nutshell, based on many of our examples, a brand consultant business may be a promising business to start - but the success of your brand consultant business mostly depends on your effort and your approach.
If you focus on these, you'll have a much higher chance of a profitable brand consultant business.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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