Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$600

$4,700

Equipment & Supply Expenses

$63

$200

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$0

$2,750

Total Startup Costs

$1,199

$25,311

Talent

talent.com

2,165

Comcast Careers

jobs.comcast.com

3,788

Spectrum

jobs.spectrum.com

3,841

HSN

jobs.hsn.com

4,295

Pingboard

pingboard.com

7,347

AirDroid

airdroid.com

10,643

WeWorkRemotely

weworkremotely.com

13,400

Creative Circle

creativecircle.com

51,218

wishup

wishup.co

83,678

wishup

wishup.co

83,678

Jack Henry & Associates

profitstars.com

94,025

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 remote hiring company 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 remote hiring company gives people a reason to visit your website and to keep coming back to you!

Meaningful business connections

You never know who you will meet as a remote hiring company. This could be the start of an incredible business opportunity!

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.

Low margins

The gross margins for your remote hiring company are typically around 93%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the remote hiring company, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

High overhead expenses

With starting a remote hiring company, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.

Churn

In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.

Time commitment

With starting a remote hiring company, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.