How Much Does It Cost To Start A Mobile Banking Agent Business? (In 2023)

How Much Does It Cost To Start A Mobile Banking Agent Business? (In 2023)
Start A Mobile Banking Agent Business

Wondering how much it costs to start a mobile banking agent business?

  • The minimum startup costs for a mobile banking agent business: $62
  • The maximum startup costs for a mobile banking agent business: $23,259
  • The average startup costs for a mobile banking agent business: $12,272

Here's a detailed list of a mobile banking agent business startup costs:

Learn more about starting a mobile banking agent business:

Where to start?

-> Pros and cons of a mobile banking agent business

Need inspiration?

-> Other mobile banking agent business success stories
-> Examples of established mobile banking agent 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 mobile banking agent 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 mobile banking agent 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

Pat Walls,  Founder of Starter Story
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