How Much Does It Cost To Start An Ai Based Retail Business? (In 2023)

How Much Does It Cost To Start An Ai Based Retail Business? (In 2023)
Start An Ai Based Retail Business

Wondering how much it costs to start an AI based retail business?

  • The minimum startup costs for an AI based retail business: $2,574
  • The maximum startup costs for an AI based retail business: $33,558
  • The average startup costs for an AI based retail business: $17,491

Here's a detailed list of an AI based retail business startup costs:

Learn more about starting an AI based retail business:

Where to start?

-> Pros and cons of an AI based retail business

Need inspiration?

-> Other AI based retail business success stories
-> Examples of established AI based retail business

Other resources

Software Expenses

Your AI based retail business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost Required? Min Cost Max Cost
File Hosting Service Recommended $0 $299
Email marketing tool Recommended $0 $100
CRM Software ➜ Recommended $12 $300
Project Management Software Recommended $0 $25
Internal Communication Tool Recommended $0 $20
Accounting & Invoicing Software Recommended $0 $50
IT Support ➜ Optional $150 $2,000
Social Media Management Tools Optional $0 $50
Design Programs & Software Optional $0 $50

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your AI based retail business grows.

Cost Required? Min Cost Max Cost
Rent ➜ Optional $0 $5,750
Utility Costs For Office Space ➜ Optional $0 $1,150
WiFi & Internet ➜ Optional $0 $100

App Creation Costs

Cost Required? Min Cost Max Cost
App Development ➜ Optional $1,000 $20,000
Apple Developer Program Optional $99 $99

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Business Cards ➜ Optional $0 $50
Customer Research & Surveys Optional $0 $300
Affiliate Marketing Commission & Fees Optional $0 $250
Influencer Marketing Optional $0 $750
Press Optional $0 $500
Google Ads Optional $0 $300
Facebook & Instagram Ads Optional $0 $350

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost Required? Min Cost Max Cost
Domain Name ➜ Required $12 $200
Business Email Hosting Service ➜ Recommended $1 $15

Training & Education Expenses

Cost Required? Min Cost Max Cost
Professional Training Optional $0 $850

Pat Walls,  Founder of Starter Story
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