Written By: Smita B

Consulting businesses have become an indispensable part of India’s ever-changing competitive landscape, and so the demand for new consulting business ideas continues to rise. Moreover, the consulting profession came to light for many reasons such as shifting consumer preferences, technological advancement, regulation of different government policies, digital evolution, and so many other reasons.

To align these changes to make a business stable and successful various industries started hiring expert support in their business operations. For instance, at foundations of business, operations, marketing, finance, legal, etc.

Hence, the demand for consulting professionals in almost every sector has increased in the last few years. However, in this scenario, some consulting services are burgeoning rapidly to cater to large-scale sectors of the Indian market.

Aspirants who want to pursue the consulting profession need to be aware of the most interesting consulting business ideas to start a sustainable business. Here are some lucrative consulting business ideas especially curated for 2024’s Indian market.

Consulting Business Ideas For 2024

Unlike other startups consulting businesses allow certain flexibilities to the consulting professional i.e. time flexibility, investment flexibility, and most importantly right to choose the work or project. However, it helps them to run a business on their own terms.

In addition, some powerful consulting businesses offer flexibility as well as maximum profit to their owners or consultants by assisting their clients in their businesses. The only thing a consultant has to offer is an insightful analysis of the client’s business through their experience and practical solutions using the in-built expertise.

Here we are going to discuss the most profitable and in-demand consulting business ideas for aspirants to make the right decision regarding their consulting career.

E-Commerce Consulting

India’s market has completely transformed in the last few years due to internet penetration and ultimately increased use of smartphones. However, this impacted on retail business and services sector too. Trading businesses are welcoming E-commerce platforms to reach global consumers to scale the business.

So, entrepreneurs seek assistance from experts to incorporate the E-commerce platform into their business more efficiently. Therefore, they hire E-commerce expert consultants with a good pay scale to construct and run successful e-commerce websites.  where E-commerce consultants do the following roles.

1. Assisting clients in product market research i.e. scalability, consumer approach, competitive landscapes, prices, etc.
2. Developing e-commerce strategies before entering the digital marketplace and applying those strategies to craft an attractive website/ e-commerce platform using contemporary tools and strategies with an appropriate hosting platform such as Hostinger, Shopify, GoDaddy, WIX, WordPress, etc.
3. Optimizing clients' e-commerce websites by analyzing the conversion ratio, website speed, consumer experience on the website, etc. to provide the right solution to enhance the website experience.
4. Applying tailored digital marketing solutions to increase sales and brand visibility on other social media platforms.
5. Keeping track of different activities on websites to prepare proper reports of conversions, consumer behaviour and preferences, time spent on the website, purchases, repeats, trending purchases, etc. These report e-commerce consultants’ handover to clients to make the right decision for site progress.
6. E-commerce consultants also assist their clients in business operations like inventory management, logistics service operations, payment features, etc. to provide a smooth e-commerce website shopping experience to consumers.

Digital Marketing Consulting

Nowadays, online presence is a key to success for almost every sector. Hence demand for digital marketing consulting services is rising every passing day. However, this increased demand for digital marketing consultants is making a positive change in the overall digital marketing consulting business’s income capacity.

In India, a digital marketing consultant’s role is very extensive to help businesses establish and expand their online presence. Here are the primary duties of the digital marketing consulting profession.

1. Investigate the client's target marketplace to plan a strategic digital marketing move to attract consumers.
2. Applying effective digital marketing campaigns by acknowledging consumer choices, current trends, payment structures, spent time on the online platform, etc. 
3. Providing top-notch website experience for consumers through optimizing websites using various digital marketing parameters i.e. on-page SEO (search engine optimization), curated content, maintaining website speed, and so on for devices such as mobile, laptop, tablet, etc.
4. Analyzing website performance through digital marketing tools such as Google Analytics, Google Trends, Google Search Console, and many others. Based on analysis crafting fresh strategies to increase website traffic, generate new leads, and uplift conversion ratio.
5. Implementing a variety of content on websites like video content, blog posts, articles, and infographics as well as marketing this content. For instance, email marketing, social media posts, paid advertisements, influencer marketing, etc. on popular social media platforms to engage and connect the target audience.

Franchise Business Consultancy

Indian youth have developed an interest in entrepreneurship or the business sector since last decade as they are willing to start businesses with their contemporary approach. However, many aspirants have yet to gain prior experience or background in entrepreneurship therefore they seek some assistance to step into the business world.

Whereas many famous brands are looking for opportunities to expand their successful business across the countries. Franchise business consultants help both franchisors and franchisees achieve their final goal at any cost. Hence, the franchise consulting business has been booming in recent years. The job of a franchise business consultant includes

1. Franchise business consultants assist both parties i.e. franchisors with their business development model, franchise agreements, FDDs (Franchise Disclosure documents), etc., and franchises with their brand selection, initial franchise nitty gritty, business setup, training, and support, etc.
2. Developing appropriate strategies for franchise expansions. For instance, gathering information on the ideal location, competitive landscapes, consumer approach, right franchise candidate, etc., and crafting a compelling strategy for franchisors to start a profitable expansion of their brand.
3. Assisting aspirants in choosing an appropriate franchise opportunity to begin their business.
4. Providing start-to-end support in their brand franchise start i.e. investment planning, physical store set up, staff selection, training, and support, etc.
5. Helping franchisors with their brand marketing strategies such as digital marketing, social media promotions, print media advertisement, and so on.

Health And Fitness Consultancy

After the COVID-19 pandemic, we have seen sudden awareness about overall health and fitness in every age category. Therefore, the health and fitness industry is experiencing massive growth even in its small sub-sections, and the health and fitness consulting business is one of them.

The purpose of the health and fitness consulting profession is to create awareness about individual health conditions and guide them to lead a fit lifestyle with carefully prepared solutions.

1. Offering health and fitness consulting services to individuals as well as corporate sectors and their employees by assessing their lifestyle, eating habits, physics, etc.
2. Developing health plans after getting through information on the client's current lifestyle, personal preferences, physical strengths and weaknesses, medical history, etc.
3. Motivating clients to follow the plans with adequate exercise, right eating habits, and adding necessary changes to their routine life.
4. Crafting customized daily exercise i.e. Yoga, Zumba, Pilates, weight training, cardio, etc., and nutritional intake plans for clients and instructing them to follow as prescribed.
5. Conducting various fitness programs for corporate sectors as well as non-corporate sectors to create awareness about health and fitness.

IT Consulting

Information Technology (IT) is the present and future of every business and it is growing rapidly in almost all sectors to strengthen the digital presence. However, entrepreneurs take the assistance of IT consulting firms to stay relevant with upcoming technological evolutions.

Hence, the IT consulting business is gaining huge popularity and demand in every sector. The role of an IT consulting business is to provide up-to-date IT solutions to its clients in ways like

1. Encouraging businesses to incorporate new-age IT infrastructure to stay contemporary in the industry.
2. Assisting clients in implementing trending IT infrastructure such as artificial intelligence, cloud computing, IoT, etc. to enhance overall performance.
3. Deploying customized software to clients to improve operations.
4. Providing solutions like software security, data security, cyber security, risk assessment programs, etc. to control cyber threats and data breaches.
5. Crafting strong IT governance frameworks for clients. Providing training and support to upskill employees.

Conclusion

The Indian consulting business sector has a wide range of opportunities in every sector where they can expand with a huge profit ratio. However, there are a few sectors that emerged in recent years that have the potential to provide limitless opportunities in 2024 for Indian consulting professionals starting their consulting business.

Aspirants who are willing to join the consulting business need to know those profitable sectors so they can make choices regarding their consulting business. So in this article, we have shared some extremely appealing sectors for aspirants to start their consulting business journey in India in 2024.

Along with it, to provide more clarity about the profession and role we have also described the specific sector's nature of work. So, Aspirants can evaluate their experience, skill sets, and abilities to choose the suitable consulting business to achieve 100% success in their consulting business career.

If you are seeking insightful details of the most productive consulting business ideas, our site will guide you to explore the limitless opportunities providing sectors. So for more details visit us at FranchiseBazar.

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.