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

Eight Loop Social

eightloopsocial.com

4

DAWN

dawn.com

2,642

Postscript

postscript.io

15,635

UpCity

upcity.com

19,248

MeetEdgar

meetedgar.com

24,495

MuteSix

mutesix.com

29,918

Top SEOs

topseos.com

48,928

SlideRoom

slideroom.com

56,544

Mainstreethost

mainstreethost.com

58,661

Expandi

expandi.io

60,182

Fomo

fomo.com

64,739

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!

Traffic to your website

A social media marketing service 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 social media marketing service. This could be the start of an incredible business opportunity!

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

Social Media Marketing Servicees 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!

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 social media marketing service are typically around 32%, which can make it more challenging to incur new expenses and maintain profitability.

Stressful work

This line of work can be stressful for both you and your clients. This type of transaction is a significant financial decision for your client, so expectations are very high for you. Although this career path can be very rewarding, it also comes with its challenges and stressful moments.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

Time commitment

With starting a social media marketing service, 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.

Difficult to build trust with your customer

With starting a social media marketing service, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.