Start An Io T Startup
How Much Does It Cost To Start An Io T Startup?
Startup Costs
Wondering how much it costs to start an IoT startup?
- The minimum startup costs for an IoT startup: $12
- The maximum startup costs for an IoT startup: $33,558
- The average startup costs for an IoT startup: $17,491
Here's a detailed list of an IoT startup startup costs:
Software Expenses
Your IoT startup 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 |
|---|---|---|---|
| File Hosting Service | Recommended | $0 | $299 |
| Email marketing tool | Recommended | $0 | $100 |
| CRM Software ➜ | Recommended | $12 | $300 |
| Project Management Software | Recommended | $0 | $25 |
| Internal Communication Tool | Recommended | $0 | $20 |
| Accounting & Invoicing Software | Recommended | $0 | $50 |
| IT Support ➜ | Optional | $150 | $2,000 |
| Social Media Management Tools | Optional | $0 | $50 |
| Design Programs & Software | Optional | $0 | $50 |
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 IoT startup 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 |
App Creation Costs
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| App Development ➜ | Optional | $1,000 | $20,000 |
| Apple Developer Program | Optional | $99 | $99 |
Advertising & Marketing Costs
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Business Cards ➜ | Optional | $0 | $50 |
| Customer Research & Surveys | Optional | $0 | $300 |
| Affiliate Marketing Commission & Fees | Optional | $0 | $250 |
| Influencer Marketing | Optional | $0 | $750 |
| Press | Optional | $0 | $500 |
| Google Ads | Optional | $0 | $300 |
| Facebook & Instagram Ads | Optional | $0 | $350 |
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 |
| Business Email Hosting Service ➜ | Recommended | $1 | $15 |
Training & Education Expenses
| Cost | Required? | Min Cost | Max Cost |
|---|---|---|---|
| Professional Training | Optional | $0 | $850 |
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