Business Idea

Start An Association Management Service Business

About

Starting an association management service business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell association management service, or selling association management service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an association management service business ➜

Key stats

market size
$242B
starting costs
$17.3K
gross margin
90%
avg product price
$100
time to build
7 months
growth
SEO
time investment
Side project

About

Starting an association management service business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell association management service, or selling association management service online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an association management service business ➜

Key stats

market size
$242B
starting costs
$17.3K
gross margin
90%
avg product price
$100

 

time to build
7 months
growth
SEO
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $150 $250
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,015
Business Formation Fees $600 $4,700
Software Expenses $162 $2,894
Advertising & Marketing Costs $0 $1,400
Other Expenses $0 $800
Total Startup Costs $2,465 $29,059

Successful Businesses

Business URL Rank
Association for Supply Chain Management ascm.org #96,228
Association for Information Systems aisnet.org #108,435
International Franchise Association franchise.org #146,516
ASAE asaecenter.org #164,136
Medical Group Management Association mgma.com #234,211
Institute for Supply Management ismworld.org #280,526
RealManage realmanage.com #477,385
Legal Marketing Association legalmarketing.org #479,220
HOA Management hoamanagement.com #539,183
RMA rmahq.org #590,283
BRM Institute brm.institute #597,710

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Little startup costs required The cost to start a association management service business costs significantly less money than most businesses, ranging anywhere from 2,465 to 29,059.
Rewarding work Starting a association management service business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
Scalable With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.
No overhead costs To get your association management service business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!
Cons Description
Crowded Space Competition is high when it comes to your association management service business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.
Longer Sales Process A association management service business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a association management service business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a association management service business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Isolation Often times, as a association management service business, you typically work alone and do not have much face-to-face interaction with other team members.
Taxes As a association management service business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 3

    Email marketing

    Email marketing is the act of sending a commercial message to a group of people using email.

    Marketing via email is a highly effective strategy used by entrepreneurs to advertise, request business, or to build brand awareness.

    According to Backlinko, shoppers spend more when marketed to through email, compared to those who do not receive email offers.

    Therefore, email marketing is an essential tool that helps entrepreneurs to reach target audience.