Starting a training software requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell training software, or selling training software online, you can use this page as a guide for everything you'll need to know.
Want to learn more? You can check out our full guide on how to start a training software ➜
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$35||$3,250|
|Employee & Freelancer Expenses||$0||$5,500|
|Equipment & Supply Expenses||$500||$5,000|
|Business Formation Fees||$5,600||$20,400|
|App Creation Costs||$1,000||$20,000|
|Training & Education Expenses||$0||$1,850|
|Advertising & Marketing Costs||$0||$3,000|
|Total Startup Costs||$7,517||$69,344|
|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!|
|Scalable||With businesses and processes changing daily, there will always be demand for new features, products and services within your training software. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.|
|Meaningful business connections||You never know who you will meet or get to work with for your training software. 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 training software becomes an integral piece of their every day lives.|
|High margins||The gross margins for your training software are typically around 76%, which is considerably high and allows you to grow your business and manage costs easily.|
|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.|
|High employee turnover||In the training software, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.|
|Taxes||As a training software, 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.|
|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.|
|You may need to charge sales tax||If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)|
|Customer churn||With a training software, people can cancel their subscription - which can make income unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.|
The most tried and true way to grow a training software is through word of mouth - some entrepreneurs would say it's more important than all social media.
Social media advertising is one of the leading ways to get the word out when it comes to training software.
There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.
Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.