Startup cost: $0 - $500

Setup costs for a Substack newsletter business can range from $0 to $500. At the bare minimum, starting a newsletter on Substack is free, but investing in a custom domain name (around $10-$20 per year) and some basic design elements or stock photos (up to $50) could enhance the professionalism of your newsletter. On the higher end, if you opt for paid advertising on social media platforms, hire a designer for a custom template, or purchase premium stock images, the costs can reach up to $500. Essential expenses include domain registration and design elements to attract subscribers. Optional expenses might include advertising or premium design services. Hidden fees could arise from third-party tools or services for subscriber management or analytics. While it can be a low-cost venture, expenses can increase as you commit to growth strategies. If a friend is serious about this side hustle, budgeting between $50 to $100 initially would be a reasonable approach.