How Much Does It Cost To Start A Diy Business? (In 2023)

How Much Does It Cost To Start A Diy Business? (In 2023)
Start A Diy Business

Wondering how much it costs to start a DIY business?

  • The minimum startup costs for a DIY business: $62
  • The maximum startup costs for a DIY business: $38,937
  • The average startup costs for a DIY business: $20,312

Here's a detailed list of a DIY business startup costs:

Learn more about starting a DIY business:

Where to start?

-> Pros and cons of a DIY business

Need inspiration?

-> Other DIY business success stories
-> Examples of established DIY business
-> Marketing ideas for a DIY business
-> Diy business names
-> Diy business Instagram captions

Other resources

-> Diy business tips
-> Blog post ideas for a DIY business

Equipment & Supply Expenses

Starting a DIY business may require purchasing some equipment, whether that's for producing the product or packaging the goods, or equipment needed in the back office.

Cost Required? Min Cost Max Cost
Cleaning Supplies ➜ Optional $63 $200

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost Required? Min Cost Max Cost
Set up business: LLC & Corporations Required $50 $500
Small Business Insurance Recommended $500 $2,000
Permit and License Fees Optional $50 $700
Lawyer Fees Optional $0 $1,500

Software Expenses

Your DIY 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
Email marketing tool Recommended $0 $100
Accounting & Invoicing Software Recommended $0 $50
Internal Communication Tool Recommended $0 $20
IT Support ➜ Optional $150 $2,000
Social Media Management Tools Optional $0 $50
Payroll Software Optional $0 $200

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 DIY 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

Employee & Freelancer Expenses

Cost Required? Min Cost Max Cost
Payroll Costs & Fees ➜ Optional $150 $250
Employee Hiring Expenses Optional $1 $2
Employee Rewards ➜ Optional $0 $100

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
Website Hosting Costs ➜ Required $0 $300
Website Builder ➜ Recommended $10 $500
Business Email Hosting Service ➜ Recommended $1 $15
Website & Live Chat Tool Recommended $0 $200
Web Designer ➜ Optional $200 $6,000

Inventory Expenses

If you sell a physical good, you'll likely have to start with some inventory.

Cost Required? Min Cost Max Cost
Upfront Costs For Inventory Optional $300 $5,000
Inventory Storage Optional $0 $5,000
Package Design ➜ Optional $50 $3,000
Shrinkage Optional $0 $1,000
Distribution costs Optional $0 $750

Advertising & Marketing Costs

Cost Required? Min Cost Max Cost
Business Cards ➜ Optional $0 $50
Customer Research & Surveys Optional $0 $300
Direct Campaigns, Printing and Mailing Optional $0 $300
Affiliate Marketing Commission & Fees Optional $0 $250
Influencer Marketing Optional $0 $750
Google Ads Optional $0 $300
Facebook & Instagram Ads Optional $0 $350

Pat Walls,  Founder of Starter Story
Want to find more ideas that make money?

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