How much does it cost to start your own business? Well, that depends. However, according to the Small Business Administration, most micro-businesses cost approximately $3,000 to launch, while most home-based franchises cost between $2,000 and $5,000. Yeah—I’d say that’s really conservative.
In the scheme of things, that’s not an awful lot of money. But, considering that 56 percent of Americans have less than $5,000 in savings, and a third have no savings at all, coming up with that amount can be problematic. While you could take a loan or max out your credit cards, you could save money for a business to avoid high-interest debt. Again, $2,000 to $5,000 isn’t really all that much.
