How Much Does It Cost To Start A Contest Marketing Business? (In 2024)

Pat Walls

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Updated: January 18th, 2023

Looking to start a contest marketing business?

But curious about:

how much it costs to start a contest marketing business?
what are the typical contest marketing business startup costs?
or the actual cost of starting contest marketing businesses?

Well, we have the data to prove it, supported by real contest marketing businesses and how much they actually cost to start.

Let's go over it.

Learn more about starting a contest marketing business:

Where to start?

-> Pros and cons of a contest marketing business

Need inspiration?

-> Marketing ideas for a contest marketing business

Other resources

Business Formation Fees

There are a few key costs associated with forming your business entity, such as setting up an LLC and getting trademarks, copyrights, and patents sorted.

Cost	Required?	Min Cost	Max Cost
Set up business: LLC & Corporations	Required	$50	$500
Small Business Insurance	Recommended	$500	$2,000
Permit and License Fees	Optional	$50	$700
Lawyer Fees	Optional	$0	$1,500

Software Expenses

Your contest marketing business needs software to run efficiently!

Why spend money on software? Because it can help you save time and automate certain parts of the business, so you can focus on the most important matters. Software and technology can help you grow your business, and save you from expensive personnel costs.

Cost	Required?	Min Cost	Max Cost
Project Management Software	Recommended	$0	$25
Internal Communication Tool	Recommended	$0	$20
Email marketing tool	Recommended	$0	$100
Accounting & Invoicing Software	Recommended	$0	$50
CRM Software ➜	Recommended	$12	$300
Social Media Management Tools	Optional	$0	$50
IT Support ➜	Optional	$150	$2,000
Design Programs & Software	Optional	$0	$50

Office Space Expenses

It will be your call to determine if you need office space. It is not a requirement but may be necessary as your contest marketing business grows.

Cost	Required?	Min Cost	Max Cost
Rent ➜	Optional	$0	$5,750
Utility Costs For Office Space ➜	Optional	$0	$1,150
WiFi & Internet ➜	Optional	$0	$100

Employee & Freelancer Expenses

Cost	Required?	Min Cost	Max Cost
Payroll Costs & Fees ➜	Optional	$150	$250

Website Costs

Every business should have a website, and it's worth spending a bit of money to set it up right.

Cost	Required?	Min Cost	Max Cost
Domain Name ➜	Required	$12	$200
Website Hosting Costs ➜	Required	$0	$300
Website Builder ➜	Recommended	$10	$500
Business Email Hosting Service ➜	Recommended	$1	$15
Website & Live Chat Tool	Recommended	$0	$200
Web Designer ➜	Optional	$200	$6,000

Advertising & Marketing Costs

Cost	Required?	Min Cost	Max Cost
Business Cards ➜	Optional	$0	$50
Customer Research & Surveys	Optional	$0	$300
Local fairs and festivals	Optional	$0	$500
Direct Campaigns, Printing and Mailing	Optional	$0	$300
Affiliate Marketing Commission & Fees	Optional	$0	$250
Influencer Marketing	Optional	$0	$750
Press	Optional	$0	$500
Google Ads	Optional	$0	$300
Facebook & Instagram Ads	Optional	$0	$350