Startup cost: $200 - $2.5k
Low-end estimate: This budget covers essential costs like a basic website or online store setup (using platforms like Etsy or Shopify with minimal fees), initial inventory or materials (if applicable), and basic marketing (such as social media promotion). It assumes using free or low-cost tools and doing most tasks manually.
High-end estimate: This includes a professional website design, premium tools or software for inventory management, higher-quality initial inventory, professional branding or logo design, and paid advertising campaigns on platforms like Facebook or Google. It also accounts for potential legal fees for setting up a business entity and any necessary licenses or permits. This budget allows for a more polished and scalable setup from the start.
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