1. Starting a consulting
Industry: Management consulting, marketing consulting, etc.;
Ranking on Business News Daily’s list: #7 (marketing consulting), #15 (administrative and general management consulting);
The reason why consulting received such a high ranking on our list of lucrative low cost startup businesses in 2016, is because depending on your expertise you can achieve great profit margins and build a highly successful business career. When it comes to both marketing and management consulting, previous work is the best proof of your expertise. The best way to start the consulting business is to create a niche-specific website or blog, where you will share your knowledge. After your website gains following, use it as your online portfolio. According to Business News Daily’s list consulting in marketing is the fastest growing consulting niche. Since outsourcing is becoming increasingly popular, the consulting niche will become even more lucrative in the next couple of years.
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