In recent years, the intensification of economic instabilities and complexities has led organizations and managers to increasingly utilize management consulting services. Despite the growing importance of this industry, there remains no theoretical consensus regarding the critical success factors in the consulting sector, particularly within the context of the Islamic Republic of Iran. The present study is aimed at identifying the factors influencing success in Iran’s management consulting industry and developing a conceptual framework, by employing a qualitative approach and a grounded theory strategy based on the theory of competitive advantage. This research From the perspective of the approach, inference, and nature, is exploratory. Data were collected through semi-structured interviews with twelve experts and academics active in the management consulting industry, and theoretical sampling continued until data saturation was achieved. Data analysis was conducted using open, axial, and selective coding. Validity and reliability were ensured through re-testing and assessment of intercoder agreement by two collaborating researchers. In total, 71 codes were extracted and classified into six main categories: causal conditions (characteristics related to the consultant and the client), intervening conditions (general business environment conditions), contextual conditions (conditions related to the consulting industry, and the client), phenomenon (factors influencing the success of the consulting industry), strategies (knowledge and experience management, establishment of a comprehensive national management system, and transfer of international technologies), and consequences (value creation for client organizations and growth of the consulting industry). The findings indicate that a turbulent economic environment has increased the demand for management consultants, and specific strategies for achieving success in the consulting industry have been identified. By elucidating a conceptual framework of success, this study provides practical guidance for enhancing consulting services and promoting the sustainable development of the consulting industry in Iran.