Consulting: pros and cons (sales, advertising, requirements, work)

[Maple47]

I am thinking about establishing a consulting business in retirement.
Have never done that before...
What are the pros and cons, please (tax wise, office requirements, etc.)?

[MinivanDriver]

CONS: Unless you get lucky, long sales cycles, the first three years are hellish from a cash flow standpoint. The loneliness of sitting at home and working by yourself.

PROS: Far better money if you are good, the chance to have a true strategic impact on your clients, freedom to work the way you want to work, and a host of other things.

[TaxPhd]

What kind of consulting would you do? What is your experience?

[lchoro]

It's common for retirees to consult at their former employer. If you don't have established clients, a lot of the other things you've brought up may be premature. Marketing and advertising would probably be the first priority to see if consulting is viable.