Office Space Expenses

$0

$7,000

App Creation Costs

$1,099

$20,099

Software Expenses

$162

$2,894

Advertising & Marketing Costs

$0

$2,500

Website Costs

$13

$215

Training & Education Expenses

$0

$850

Total Startup Costs

$1,274

$33,558

Westlake Financial

westlakefinancial.com

80,610

HDB Financial Services

hdbfs.com

86,363

The Co-operators Insurance and Financial Services

cooperators.ca

118,214

Access Denied

pwc.co.za

184,871

Hantz Group

hantzgroup.com

212,634

MUFG Americas

mufgamericas.com

229,176

TruStone Financial

trustonefinancial.org

233,613

nCino Bank Operating System

ncino.com

244,080

Home

loyno.edu

247,543

Accuity

accuity.com

272,707

Personal and Business Banking, Investing and Insurance

blueshorefinancial.com

343,757

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 financial services bots 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.

Traffic to your website

A financial services bots business gives people a reason to visit your website and to keep coming back to you!

No overhead costs

To get your financial services bots business started, there are no costs associated with overhead, storage, packaging, etc. This will save you a lot of time and money!

Crowded Space

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

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 financial services bots 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.

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.

Isolation

Often times, as a financial services bots business, you typically work alone and do not have much face-to-face interaction with other team members.

Taxes

As a financial services bots 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.