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How much does a business advisor or advisory firm charge?

What's their normal price range for advisory services such as business growth, financial planning and management?

Tim Stokes

Tim Stokes, Managing Director at Profit Transformations

Expect to pay $1500 to $4000 per month. The value of what they provide is more important than the price. $1500 is expensive if revenue increases a small amount but Net Profit doesn't. The ROI will be small.

$4,000 per month is a great investment if the Net Profit increases by $100,000 to $500,000+ in the year. 

The track record of results and speed of them is more important than the price.

Is the business advisor skilled and able to demonstrate results in a short period of time for your business growth challenges? Are they focused on increasing leads, conversion rates and/or Net Profit Margins?

Increasing revenue, which increases net profit is not the same as increasing net profit margins, without increasing sales. When a business advisor uses methods to increase net profit margins the ROI is very high for what you pay them to what you receive in return - i.e. a net profit increase. 

Consider all these when interviewing a business advisor/mentor. Also, ask about their agreement/contract. Choosing one where you aren't 'locked-in' for 6 to 12 months is recommended. Paying monthly at a time without a lock-in contract is the ideal relationship. 

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