How to Start a Survey Business in 2024
Last Updated: 12/17/2023
So you want to start your own survey business? That’s awesome! Surveys can provide super valuable insights to businesses if done right. But it takes work to get a successful survey biz off the ground. This guide will walk you through the key steps, so you’ll be ready to launch your new venture.
Choose a Business Structure
First things first — decide how you want to set up your business legally and for taxes. Will you be a sole proprietor, partnership, corporation, LLC? Talk to an accountant or lawyer to pick what makes sense for you. Many new survey companies start simple as sole proprietors or partners. You can get fancier later when you’re more established.
Obtain Business Licenses and Permits
Ugh, paperwork. But it’s gotta be done. Double check what licenses and permits you need from the government based on your location and business plans. At minimum you’ll probably need a sales tax permit, business license, and fictitious name filing. Want to say you do “market research”? Specific licenses for that in some states. Get it all lined up before opening.
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Choose Your Survey Niche
It’s smart to focus your biz on a particular industry, topic area, or region you can be the expert in. Helps with marketing and building a solid client list. Popular niches are consumer products, healthcare, employee surveys, political opinion polling, and more. Or just specialize in your local community’s needs. Pick an area you’re passionate about.
Learn Survey Methodology
Brush up on your survey skills — questionnaire design, sampling methods, data analysis, ethics. Study best practices from research pros like the American Association for Public Opinion Research. Getting certified as a researcher through the Marketing Research Association can give you credibility too. The more you know, the better your data.
Choose Survey Software
You’ll need an online platform to create surveys, collect responses, and analyze data. Lots of options out there like SurveyMonkey, Qualtrics, SurveyGizmo, QuestionPro, Google Forms. Compare features, pricing, ease of use. Make sure to get tools tailored to your niche. Quality software is worth the investment.
Develop Service Offerings
Figure out exactly what you want to offer clients — customer satisfaction surveys? Product concept tests? Employee engagement? Market research? Focus groups? Data analysis? Have options at different price points so clients can get what they need. Play up your niche expertise.
Create a Business Website
Your website is your digital home base — get that set up pronto! Share your story, services, bios of team members, client testimonials. Make sure it’s visible to search engines with good keywords so potential customers can find you online.
Set Competitive Prices
Do research on what others charge in your industry and use that to set fair rates. Bill by project, hourly, or per questionnaire/respondent. Upfront deposits around 50% are typical. Offer deals for nonprofits and return clients. Tweak pricing as needed as you go.
Market Your Survey Services
Spread the word! Website, social media, cards, brochures, free business listings, trade shows, networking events. Do some cheaper or pro bono work at first to build experience and portfolio. Partner with research firms needing support. Ask happy clients for referrals.
Build a Client Base
Actively reach out to potential customers through email, calls, speaking gigs, social media. Create helpful content like case studies, whitepapers, blog posts to provide value. Participate in LinkedIn niche groups. Follow up consistently with leads. Provide awesome service to keep clients coming back.
Maintain Quality and Ethics
Never ever cut corners or compromise your data integrity. Follow research ethics rules. Protect respondent privacy. Regularly audit your processes to maintain standards. Keep up with survey laws and regulations. Your reputation depends on doing business the right way.
If you take it step-by-step and stick with it, you can totally build an amazing survey business. Lean on your expertise, quality focus, and great customer service. Adapt as you go to meet changing needs. Above all, stay committed to gathering data ethically and delivering real value to clients. You got this!
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Frequently Asked Questions
What are the first steps to take when starting a survey business?
The key founding steps are choosing a business structure, obtaining necessary licenses and permits, picking a niche, learning survey methodology, choosing software, developing service offerings, building a website, setting prices, and starting to market your services. Handle these fundamentals first when launching your survey company.
What qualifications do I need to conduct market research surveys?
There are no legal requirements, though getting certified as a market researcher through the Marketing Research Association demonstrates your expertise. The main qualifications are having extensive knowledge of survey methods and principles, statistical analysis skills, and a commitment to ethical research standards. Proper training and experience conducting surveys is essential.
What is the cost to start a survey business?
Startup costs range from $500-$5,000 or more, depending on your business structure and initial equipment/software purchases. Ongoing expenses will include costs for sample acquisition, data collection/analysis tools, office supplies, marketing, insurance, and professional services. Start with what you can afford and reinvest revenue into growth.
How do I get my first survey clients?
Reach out to your personal and professional connections to see if anyone has survey needs you could support. Offer discounts or free surveys to build a portfolio. Attend local networking events related to your niche. Advertise your services through channels like social media. Partner with market research firms needing additional survey capacity. Follow up consistently with potential clients.
What is the earning potential of survey businesses?
Profitability varies widely based on your client base, pricing, niche, and how you structure your offerings. Most successful survey firms bring in annual revenues between $100,000-$500,000. With substantial experience and a roster of steady clients, six-figure incomes are realistic. Stick with it, deliver value, and income can steadily grow.
How can I ensure my surveys produce quality data?
Invest heavily in learning proper survey techniques and principles. Follow research ethics guidelines. Audit your questionnaires, sampling methods, analysis, and data security frequently. Test and refine your processes over time. Continuously build your skills through training and certifications. Develop air-tight protocols. Hire experienced staff if needed. Commit to producing valid insights.
What mistakes should I avoid when starting my survey company?
Don’t cut corners on survey quality and ethics. Avoid biased survey questions that influence responses. Make sure your sample demographics match your target population. Don’t overstate your capabilities or experience level. Rushing through questionnaires and analysis will result in flawed data. Underpricing your services too much can devalue your brand. Move slowly and carefully as you build your business.
