If you are planning to start a sales automation platform, the costs are relatively low. This of course, depends on if you decide to start the business on your own or bring on a big team at first.
We’ve outlined two common scenarios for “pre-opening” costs of a sales automation platform and outline the costs you should expect for each:
- The estimated minimum starting cost = $2,550
- The estimated maximum starting cost = $34,800
The average starting costs are $18,675.
|Startup ExpensesThese numbers are based off the average expenses incurred when starting a sales automation platform.||Min Startup CostsDefined as an sales automation platform you have started and plan to execute on your own. You’re able to work from home with minimal costs.||Max Startup CostsDefined as an sales automation platform you have started with one other team member. You decided to rent out an office space to set up the business.|
|Licenses and Business FormationThis refers to setting up your business license and establishing any legal contracts.||$250||$1,000|
|PayrollThis number depends on if you decide to pay yourself a salary up front and the amount of employees you hire. The average salary for a full-time sales automation platform individual is||$0||$4,000|
|Advertising/PromotionThis includes (but not limited to): paid ads, public relations, networking events etc.||$200||$2,000|
|Website and Email HostingCosts to host website, domain names and email||$100||$300|
|Website Design (Outsourced)Hiring an outside contractor to assist with design elements of your website||$0||$5,000|
|RentThis refers to the office space you decide to work in. Depending on the cost of living, this number could vary.||$0||$2,500|
|Liability InsuranceDepending on which state you live in, the costs and regulations vary for liability insurance. You can learn more here.||$500||$2,000|
|Developer CostsIf you plan to outsource a developer, the cost is typically around $60-$100 per hour. Depending on the scope of your project and hours allocated to this freelancer, the cost can vary.||$1,000||$13,000|
|Equipment and TechnologyThis includes (but is not limited to) any expenses such as: laptops, cameras, office supplies and technology platforms||$500||$5,000|
|Total Starting Costs||$2,550 (min)||$34,800 (max)|