Starting a Business

What Do I Need to Start a Consulting Business?

I'm looking into launching a consulting company for people who want to start businesses themselves or who have failing businesses and need help. I would not do the actual consulting, but will match the client with a consultant that I would contract out. I want to be available in most major cities in the U.S. What legal and tax hoops would I have to jump through to accomplish this?
Opinions expressed by Entrepreneur contributors are their own.

Like any other business getting started you have a couple of threshold questions to ask.

First, what are your long-range ownership plans? Will you have investors or other owners?

Also, you'll need to determine if you'll be providing these services through an online platform or offline. Are you building to sell the company or to hold it?

Related: Three Tips to Start a Consulting Business

All of these affect where you will form your business and which form of business entity will best serve your needs.

Additionally, “being available” can mean a number of things. If you’re available only online, you may be able to avoid paying income tax in multiple states. But if you set up physical offices in other states, then probably not.

A national expansion can be tricky tax-wise, so be sure to speak to a qualified accountant and business attorney about your plans. Don’t forget to have written agreements with all of your consultants and clients to clarify whom the client pays and when the consultants get compensated.

Related: Sample Consulting Contract
 

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Former Apple CEO John Sculley Shares 4 Key Strategies for Growing and Marketing Your Business