How Much Does It Cost To Start A Social Media Marketing Agency? (In 2023)
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.
Wondering how much it costs to start a social media marketing agency?
- The minimum startup costs for a social media marketing agency: $62
- The maximum startup costs for a social media marketing agency: $23,259
- The average startup costs for a social media marketing agency: $12,272
Here's a detailed list of a social media marketing agency startup costs:
Learn more about starting a social media marketing agency:
Where to start?
-> Social media marketing agency plan
-> How to finance a social media marketing agency?
-> Pros and cons of a social media marketing agency
-> How to get clients for a social media marketing agency?
Need inspiration?
-> Other social media marketing agency success stories
-> Examples of established social media marketing agency
-> Marketing ideas for a social media marketing agency
Other resources
-> Profitability of a social media marketing agency
-> Social media marketing agency tips
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 social media marketing agency 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 social media marketing agency 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 |
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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