Startup cost: $500 - $5k

Low-end costs include basic licensing and registration fees, a simple website or online presence, and basic communication tools like a phone and email service. Essential software for tracking debts and managing accounts might be minimal or free at this level. High-end costs cover comprehensive licensing, a professional website, advanced debt collection software, marketing and advertising expenses, and possibly hiring a virtual assistant or additional staff. This also includes legal consultation fees to ensure compliance with regulations. Hidden costs can include ongoing software subscriptions, legal fees, and unexpected marketing expenses. Online communities often mention that while starting costs can be low, expenses can increase as the business scales.