Trying to make a business plan. What is a typical percentage that people throw toward a marketing budget?
Dave
What do you feel you could comfortably spending per month? The amount could be totally different for you and I.
If you don’t have any deals going now can you afford $1,000. a month or $200. a month? Set something you can live with . write out a plan before you get started and get prices and evaluate what would give you the best bang.
If you’re just starting out you should call and/or email sellers because both are free. Phoning also gives you practice at talking to sellers.
When you’re making money and can make up a budget, most businesses in most industries spend about 10% of their gross on advertising.
I do quite a lot of advertising on craigslist, also free. When you budget is limited try and hit the market as hard as you can before you start shelling out $.
Great advice so far. I would like to suggest something. When you do decided to spend money on marketing / advertising make sure you track your leads. If you track your leads from your marketing efforts you will know what works and what doesn’t.
I have seen many people fail to track their marketing efforts and just spend money on things that don’t work.
Mine is about $1500/month so far but I am still experimenting with different marketing ideas. I noticed spending $6000/month got me about 10 calls a day, but that drained me real quick