Starting an HR Consultancy: How Much Capital Do I Need and What Steps Should I Take?

Dear All, this is Bertil, and I have 8 years of experience in the field of HR & Administration. Currently, I am working as a Manager-HR & Administration and residing in Cochin. Can anyone provide me with some details? I'm looking for some guidelines for starting up an HR consultancy of my own. Can someone help me by suggesting how I can prepare myself for starting up the same? What could be the process that I have to follow?

Capital Investment and Business Prospects

How much capital investment (minimum) is really required? As you know, I have to leave my current job if I need to start up the consultancy, and it's going to be a tough decision. But if I really work hard, then how much prospect is there? I'm looking for all the processes, and friends, can anyone help me out, please?

Regards,
Bertil

Have you looked at the CiteHR archive or on Google? If not, you should do it first. Anyways, I have made your task easier now. Check the thread below: https://www.citehr.com/70000-procedu...nsultancy.html

Dear Seniors,

I need suggestions from you on how and where to start. I want to begin at a small level and then grow steadily. Please advise me on this idea.

I am eagerly awaiting a positive response from my seniors.

Regards,
Bertil M

Starting an HR Consultancy: A Step-by-Step Guide

Initially, you start from your home in a small way. Just a desk or laptop, and a dedicated mobile number. Start networking through a website, highlighting your services. Develop contacts in Cochin, Thrissur, Quilon, Calicut, Trivandrum, and other major cities where IT parks are located. Make cold calls and request them to give you a trial run. Once people begin to trust you for your services, then you can start looking for a 1000 or 800 sqft office, with two or three cubicles and two cabins—one for yourself and one for small business meetings.

Then, once you have some money on hand, you can consider hiring a couple of MBA-HR freshers and train them to work with you. At that point in time, keep some working capital to pay rent, salaries, etc. Furthermore, your returns will take some time, and you should have some reserve funds. There is no minimum or maximum. The more funds you have, the better your comfort level will be.

Best wishes