How Much Does It Cost To Start A Social Media Platform Founding Business? (In 2024)

Pat Walls

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Updated: January 18th, 2023

Start A Social Media Platform Founding Business

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.

The cost of opening a a social media platform founding business can vary based on several factors. However for a a social media platform founding business you can expect to spend $12 to $11,659 with an average cost of $5,911.

The minimum startup costs for a social media platform founding business: $12
The maximum startup costs for a social media platform founding business: $11,659
The average startup costs for a social media platform founding business: $5,911

Here's a detailed list of a social media platform founding business startup costs:

Learn more about starting a social media platform founding business:

Where to start?

-> Pros and cons of a social media platform founding business

Need inspiration?

-> Other social media platform founding business success stories
-> Examples of established social media platform founding business

Other resources

Software Expenses

Your social media platform founding business 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
Project Management Software	Recommended	$0	$25
Email marketing tool	Recommended	$0	$100
Accounting & Invoicing Software	Recommended	$0	$50
Internal Communication Tool	Recommended	$0	$20
File Hosting Service	Recommended	$0	$299
Design Programs & Software	Optional	$0	$50
Social Media Management Tools	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 platform founding business 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

Training & Education Expenses

Cost	Required?	Min Cost	Max Cost
Online Learning Sites	Optional	$0	$1,000

Advertising & Marketing Costs

Cost	Required?	Min Cost	Max Cost
Business Cards ➜	Optional	$0	$50
Customer Research & Surveys	Optional	$0	$300
Networking Membership Fees	Optional	$0	$250
Affiliate Marketing Commission & Fees	Optional	$0	$250
Influencer Marketing	Optional	$0	$750
Press	Optional	$0	$500
Google Ads	Optional	$0	$300
Facebook & Instagram Ads	Optional	$0	$350

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
Business Email Hosting Service ➜	Recommended	$1	$15

Specific Industry Expenses

Cost	Required?	Min Cost	Max Cost
Ticketing Platform Fees	Optional	$0	$100

Part of

Starting A Social Media Platform Founding Business: Everything You Need To Know

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