If you’re a solo consultant, you already know the power of independence. You’ve built a business around your expertise and relationships—but how you structure that business can make or break your income, energy, and impact.

The right business model helps you scale without burning out, serve clients more effectively, and open new revenue streams that fit your lifestyle. Whether you’re just getting started or looking to shift gears, this post breaks down the best business models for solo consultants—and how to pick the one that works best for you.

1. The Hourly or Day Rate Model

Best for: Early-stage consultants or flexible, on-demand work

Charging by the hour or day is the most straightforward model—and often the easiest to start with. Clients pay for your time, and you deliver value during that window.

Pros:

  • Simple to understand

  • Low barrier to entry

  • Easy to track and invoice

Cons:

  • Ties income to time

  • Harder to scale

  • Can lead to scope creep

If you’re using this model, be crystal clear on your availability and boundaries. It works best as a stepping stone toward more scalable options.

2. Monthly Retainer Model

Best for: Ongoing advisory and strategic guidance

With a retainer, clients pay a set monthly fee for access to your time, insights, or deliverables. This creates recurring revenue and long-term relationships.

Pros:

  • Predictable income

  • Deeper client relationships

  • Easier scheduling and planning

Cons:

  • Requires solid contracts and scopes

  • Can lead to client dependency

  • Time-intensive if not managed well

To succeed with retainers, define exactly what’s included—number of calls, deliverables, and access level—to avoid over-servicing.

3. Project-Based Model

Best for: Clear outcomes and fixed-scope deliverables

In a project model, you charge a flat fee for a defined outcome—like a marketing audit, growth strategy, or exit readiness plan. This shifts the focus from time to results.

Pros:

  • Easier to price and sell

  • Builds authority and trust

  • Can be packaged and repeated

Cons:

  • Revenue can be lumpy

  • Requires strong scoping

  • Might need discovery before pricing

Many consultants bundle their projects into standard offerings, making them easier to scale, market, and deliver with efficiency.

4. Productized Services

Best for: Consultants looking to scale delivery and streamline sales

Productized services are fixed-scope offerings sold like products. Think: a 2-week strategic planning sprint, a done-for-you pitch deck, or an exit-readiness package.

Pros:

  • Highly scalable

  • Easy to sell and price

  • Builds brand clarity

Cons:

  • Requires repeatable process

  • Less flexibility

  • May not fit all client types

Productization helps clients understand what they’re buying—and helps you create leverage. At Merge, for example, licensees use templated prospectuses, valuation models, and CRM workflows to deliver productized M&A advisory services quickly and professionally.

5. Revenue Share or Commission-Based

Best for: High-trust relationships and performance-based value

In this model, you earn a percentage of the results—like a cut of increased revenue, a portion of a deal closed, or success fees on a business sale.

Pros:

  • High upside potential

  • Aligns incentives

  • Builds long-term client relationships

Cons:

  • Income is unpredictable

  • Requires trust and tracking

  • Not all clients are open to it

This works especially well when you have confidence in your process and your client’s ability to implement. Many M&A advisors operate this way—earning a success fee when a transaction closes.

6. Licensing or Platform-Based Models

Best for: Consultants who want leverage, tools, and structure

Instead of building everything from scratch, you can license a proven platform—like Merge—to deliver high-value services with credibility and speed.

With a Merge license, you get:

  • Deal templates, training, and SOPs

  • Access to a buyer network

  • Prospectus and valuation tools

  • Community, support, and back-end systems

You keep control of your brand and strategy while running a scalable M&A advisory business under your own name. It’s an ideal model for consultants who want independence with structure behind them.

7. Hybrid Model

Best for: Experienced consultants who want flexibility

Many solo consultants eventually create a hybrid model—combining two or more revenue streams to smooth income and maximize impact.

For example:

  • A retainer for ongoing clients

  • Project packages for short-term needs

  • A productized service as a lead-in

  • Revenue share on deals they help close

This approach allows you to meet clients where they are, balance your time, and experiment with new offerings as you grow.

Final Thoughts

There’s no single “best” model—only the one that aligns with your goals, lifestyle, and clients.

The most successful solo consultants often start with one core model and layer in others over time. They build leverage through templates, systems, and strong positioning. And they don’t try to do everything at once.

If you’re ready to turn your consulting practice into something more scalable, M&A advisory might be the perfect next step. With Merge, you’ll get the platform, tools, and training to grow your business without reinventing the wheel.

👉 Learn more about the Merge license and see if it’s a fit for you.