Startup cost: $500 - $3k

Setup costs range from $500 to $3,000 depending on the tools and services chosen. At the minimum end, one would need to invest in basic virtual event planning software and marketing materials. This cost covers essential tools for managing virtual events efficiently. On the higher end, additional expenses may include premium AI-powered event planning platforms, professional marketing services, and upgraded equipment for higher production quality. While the basic setup is feasible with the minimum investment, opting for the recommended tools and services on the higher end can enhance the overall event planning process. It's essential to budget for both initial and ongoing costs, as recurring fees for software licenses, marketing campaigns, and equipment maintenance can add up over time. Online discussions suggest that costs can increase once you commit to scaling the business and offering more advanced services. For a friend looking to take this side hustle seriously, I would advise budgeting around $2,000 to $3,000 to cover initial setup and ensure a solid foundation for growth.