Employee & Freelancer Expenses

$151

$252

Website Costs

$223

$7,015

Business Formation Fees

$600

$4,700

Vehicle Expenses

$0

$10,000

Retail Business Expenses

$1,250

$6,650

Advertising & Marketing Costs

$75

$3,986

Software Expenses

$162

$2,720

Office Space Expenses

$0

$100

Specific Industry Expenses

$0

$500

Total Startup Costs

$2,461

$35,923

RIGZONE

rigzone.com

48,700

Southwestern University

southwestern.edu

298,269

Laird

lairdtech.com

1,084,627

National Association of Letter Carriers AFL-CIO

nalc.org

1,221,606

The Hospitals of Providence

thehospitalsofprovidence.com

1,320,106

Stewart & Stevenson

stewartandstevenson.com

1,528,934

Donaldson Stewart, P.C.

donaldsonandassociateslaw.com

1,532,400

Health Choice Arizona

healthchoiceaz.com

2,105,075

Bass, Berry & Sims PLC

bassberry.com

2,195,129

Queen Emerald

queenemerald.com

2,851,340

Laughing Lizards

laughinglizards.com

3,152,131

Little startup costs required

The cost to start a ring steward business costs significantly less money than most businesses, ranging anywhere from 62 to 35,923.

Rewarding work

Starting a ring steward 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.

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Pick & choose the clients you work with

Ring Steward Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!

Control of workload

With starting a ring steward business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

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 ring steward 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.

Work can be inconsistent

As a ring steward business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.

Lack of benefits

With a ring steward business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Taxes

As a ring steward 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.

No safety net

Typically, as a ring steward business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.