Office Space Expenses

$0

$7,000

App Creation Costs

$1,099

$20,099

Training & Education Expenses

$0

$1,000

Software Expenses

$162

$2,894

Advertising & Marketing Costs

$0

$7,500

Website Costs

$13

$215

Total Startup Costs

$1,274

$38,708

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925

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1,006

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9,440

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11,754

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140,054

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186,175

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216,321

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529,820

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3,040,752

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!

Rewarding work

Starting a Fibonacci number generator 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 Fibonacci number generator business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!

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.

Crowded Space

Competition is high when it comes to your Fibonacci number generator business, so it's important that you spend a good amount of time analyzing the market and understanding where the demand lies.

Security Issues

With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.

Lack of benefits

With a Fibonacci number generator 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 Fibonacci number generator business, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a Fibonacci number generator 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.

No safety net

Typically, as a Fibonacci number generator business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.