There are three common ways to set prices for your consulting business.

BY CHRIS MORRIS @MORRISATLARGE

Photo: Getty Images

The growing number of corporate layoffs is giving rise to a consulting boom. Experienced professionals, frustrated by the lack of opportunities or eager to strike out on their own, are increasingly launching consulting businesses.

It’s a field that has a substantial financial runway. The tech consulting market alone is expected to see global revenue exceed $400 billion this year, according to a report from Source Global Research. That’s a $50 billion increase from two years ago.

For newcomers to the consulting game, though, determining what to charge for services can be a conundrum. You have to come up with a number that covers expenses and maintains (or exceeds) your current or previous income, but is still competitive.

There are a number of different ways to bill, so your........

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