How Much Does It Cost To Start A Market Researching Business? (In 2024)
Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.
The cost of opening a a market researching business can vary based on several factors. However for a a market researching business you can expect to spend $62 to $23,259 with an average cost of $12,272.
- The minimum startup costs for a market researching business: $62
- The maximum startup costs for a market researching business: $23,259
- The average startup costs for a market researching business: $12,272
Here's a detailed list of a market researching business startup costs:
Learn more about starting a market researching business:
Where to start?
-> Pros and cons of a market researching business
Need inspiration?
-> Other market researching business success stories
-> Examples of established market researching business
Other resources
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 market researching 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 |
---|---|---|---|
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 market researching 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 |
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 |
Web Designer ➜ |
Optional |
$200 |
$6,000 |
Advertising & Marketing Costs
Cost | Required? | Min Cost | Max Cost |
---|---|---|---|
Business Cards ➜ |
Optional |
$0 |
$50 |
Networking Membership Fees |
Optional |
$0 |
$250 |
Direct Campaigns, Printing and Mailing |
Optional |
$0 |
$300 |
Press |
Optional |
$0 |
$500 |
Google Ads |
Optional |
$0 |
$300 |
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings