Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$0

$3,050

Total Startup Costs

$6,136

$41,111

WEBRIS

webris.org

4

The Viral Touch

theviraltouch.com

4

The Boss Network

moneyway.gumroad.com

113

AppSumo

appsumo.com/

1,838

Semrush

semrush.com

1,932

Gartner

gartner.com

2,836

Sendinblue

sendinblue.com

4,050

ShoutMeLoud

shoutmeloud.com/

8,267

Adam Enfroy

adamenfroy.com

8,417

Digital Marketing Institute

digitalmarketinginstitute.com

10,512

CoSchedule

coschedule.com

11,330

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!

Traffic to your website

A digital marketing business gives people a reason to visit your website and to keep coming back to you!

Meaningful business connections

You never know who you will meet as a digital marketing business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Digital Marketing Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A digital marketing 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.

Low margins

The gross margins for your digital marketing business are typically around 23%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the digital marketing business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

You may need to charge sales tax

If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article

Churn

In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.