# How much does it cost to start a business? MileIQ Team Content Writer April 18, 2019 ### Download MileIQ to start tracking your drives Automatic, accurate mileage reports. [Get Started](https://dashboard.mileiq.com/signup) How much do you need to [start a business](/content/blog/how-to-start-a-small-business/index.html)? According to most studies, the figure is approximately $30,000. But start-up costs can vary widely based on industry and scale of business. Read on to learn the average [cost of starting a business](https://www.fundera.com/blog/business-startup-costs) in your industry. ## Average cost to start a business ### **Administrative or custodial services** In the business of providing cleaning or administrative support to other companies? These services are not only easy to launch but extremely cost-efficient. The average start-up costs come in at over $11,000 according to [U.S. Census data](https://factfinder.census.gov/). ### **Construction** Construction doesn't include only professionals who work on large-scale residential and commercial building projects. It also extends to small-scale construction businesses such as handymen. For this reason, the average start-up cost of a construction business is $14,000. ### **Professional and technical services** Are you a writer, web designer or lawyer? Your business falls into the broad niche of [professional services](/content/blog-en-us/mileage-tracking-for-sales-professionals/index.html). Starting a business in this niche costs an average of $14,000-$18,000. The range is lower because some professional services businesses can be started at home with little or no upfront costs. Others, like law offices, need a professional setting for everyday business and meeting clients. This requires increased capital. The significant benefit of these knowledge-oriented businesses is that they sell knowledge. This means you can avoid the manufacturing costs that come with producing physical goods. ### **Healthcare services** Ready to put your medical expertise to work as a self-employed dietitian, dentist or healthcare provider? Service-oriented healthcare businesses cost $27,000 on average to start. How much you need to start a business in this niche can vary widely depending on the type and complexity of services. Practitioners who need a permanent office with costly equipment can take on higher costs than those who work from patient sites with little equipment. ### **Retail** From purchasing raw materials to producing inventory, the costs of opening a retail business can add up. But exactly how much do you need to start a business in this niche? The start-up costs of a retail business amount to an average of $32,000. Opening a virtual store can help cut the real estate costs of a traditional brick-and-mortar store. ### **Finance** The financial services sector includes [financial advisors](/content/blog-en-us/small-business-advisors/index.html), insurance brokers and other money-savvy professionals. If you count yourself one of them and want to operate a business in this sector, you can expect to spend an average of $52,000 in start-up costs. ### **Real Estate** Want to flip homes or even own your own rental business? The [real estate profession](/content/blog/real-estate-agents-are-you-really-in-business/index.html) is now a popular second career option for many people. Start-up costs can vary depending on which [area of real estate](/content/blog/en-us/difference-between-realtor-vs-real-estate-agent/index.html) you enter, but cost $75,000 on average. ### **Restaurants** It's no wonder why food services businesses cost an average of $125,000 to start. Despite its popularity as a business venture, a restaurant requires a significant upfront investment. To reign in the costs of acquiring space and hiring a large staff, consider opening a food truck and then scaling up to a brick-and-mortar business. You can even opt to [franchise your business](/content/blog/en-ca/guide-buying-small-business-canada-part-1/index.html) later if it succeeds. ### Download MileIQ to start tracking your drives Automatic, accurate mileage reports. [Get Started](https://dashboard.mileiq.com/signup)