For those who are experienced in doing SEO consulting, how competitive and profitable is it? I've seen on fiverr.com that people are only doing it for 5 dollars. Is that the general market price range? It seems kinda low to me
If you can provide a very good SEO service then why would offer it for $5 only? SEO is a broad term and a long term task. It is very competitive, and profitable indeed. But based on my personal experience there are still some businesses that have no idea of what SEO is.
Really depends on who you are, how good you are, and if you can show proven results. If you can do it all and show proven results, you can make a mint. A lot of people will pay a lot of money to get rank 1-3 for any keyword.
SEO is the vast field of marketing, you can't limit it with 5 dollar. It depends on your client's need, what services they need from you and the price range will up and low based on that. If you are promised to rank the keywords on Google's first page then the price is lot more higher than 5 dollars.
Well those are pretty crappy services for $5 on fiverr. Good SEO requires a larger investment (think PBNs, etc.)