How do I determine my startup costs and other expenses?

[Robrown83]

I think the first thing that the business started needs to do is to estimate what is going to cost him/her to start the business of his choice and also ensure that the money at hands or at bank can accomplish the business.

 

[Rainlover207]

If you are a beginner it is best not to determine everything all by yourself. Rather, ask those who have been on it for a long time and are experts on it, and they will tell you everything you need to hear about the startup cost. Or you can study it for at least a month before you can go ahead to determine the cost needed to start it.

 

[Olamide wealth]

Related: Starting Costs Calculator.
List spending on assets. ...
Related: Two Weeks to Startup: Day 3. ...
List spending on expenses. ...
Determine how much money you'll need to get started.

 

[Segshowee]

It is wise to find out what startup costs you will incur before starting the business. Many a budding entrepreneur takes his or her life savings, or will borrow on the equity on their home before figuring these financial factors, only to find that they don’t have enough money. There are many web sites and other resources (including SCORE offices and Business Information Centers) that provide guidelines and worksheets to help determine costs for your business. Each item on your proposed budget sheet should be researched. Closely estimated costs can be obtained from utility companies, trade associations, and networking with other business people who may have already gone through this experience.

There are organizations with certified financial expert saddle with the responsibility of helping aspiring individuals planning to go into business determine their startup capital. Engage the services of one and you would be glad you did.

 

[LaylaG]

that is the function of a business plan although you may not be able to get accurate amount of how much it will cost but at least you will have an understanding of the amount of money you will need to start up a business and other expenses, just write a rough estimate of what you will do and how much it will cost.
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that is the function of a business plan although you may not be able to get accurate amount of how much it will cost but at least you will have an understanding of the amount of money you will need to start up a business and other expenses, just write a rough estimate of what you will do and how much it will cost.

 

[Dubai]

It is wise to find out what startup costs you will incur before starting the business. Many a budding entrepreneur takes his or her life savings, or will borrow on the equity on their home before figuring these financial factors, only to find that they don’t have enough money. There are many web sites and other resources (including SCORE offices and Business Information Centers) that provide guidelines and worksheets to help determine costs for your business. Each item on your proposed budget sheet should be researched. Closely estimated costs can be obtained from utility companies, trade associations, and networking with other business people who may have already gone through this experience.

You are absolutely correct. A rough estimate of the start up cost, as well as the monthly running cost of any business, is worth knowing before be venturing into it. However, I never knew there was a site that could help determine what the cost could be. Thanks for that piece of information.

 

[Sammyesx]

The cost of starting a business should be the first thing a business owner should know , that is when you know if the money you have will be enough for the startup or if you have to take a loan or source for capital through other means.

 

[Olaoluwa Abraham Abiodun]

It is wise to find out what startup costs you will incur before starting the business. Many a budding entrepreneur takes his or her life savings, or will borrow on the equity on their home before figuring these financial factors, only to find that they don’t have enough money. There are many web sites and other resources (including SCORE offices and Business Information Centers) that provide guidelines and worksheets to help determine costs for your business. Each item on your proposed budget sheet should be researched. Closely estimated costs can be obtained from utility companies, trade associations, and networking with other business people who may have already gone through this experience.

 

[Emma Aneni]

Through research both from online and offline sources. You need facts when determining the costs of a business idea. And the best thing you can do is for you to make a very precised cost analysis and feasibility study.

 

[Xerryl]

To determine start up cost and all other expenses business plan and analysis will be the best way to find out that. Collation of resources at hand and estimate of capital are other ways of determination start up cost of a business

 

[Oyeleye42]

You can calculate starting costs by making three simple lists, a few educated guesses and then adding them all up.

1. Related: Starting Costs Calculator.
2. List spending on assets. ...
3. Related: Two Weeks to Startup: Day 3. ...
4. List spending on expenses. ...
5. Determine how much money you'll need to get started.

 

[singlej007]

Before you startup any business, go and ask for everything involved in that business, from the location cost, to the equipment it will cost you, that will help you to know the estimate you are to get before kicking off the business. Don't just start.

 

[jay]

By putting into consideration the milestone you want to start up with. You have already run an estimate of your survey on what it will cost to get a unit of your business running, now from such you will now determine how many units you want to start up with.

 

[Kelly5]

It is wise to find out what startup costs you will incur before starting the business. Many a budding entrepreneur takes his or her life savings, or will borrow on the equity on their home before figuring these financial factors, only to find that they don’t have enough money. There are many web sites and other resources (including SCORE offices and Business Information Centers) that provide guidelines and worksheets to help determine costs for your business. Each item on your proposed budget sheet should be researched. Closely estimated costs can be obtained from utility companies, trade associations, and networking with other business people who may have already gone through this experience.

From your business plan, you must have incorporated all these factors in. You should as well be aware of the invaluable resources of the internet available at your disposal. Seek the help of experts as well if you must

 

[Philip Omotayo]

Start up cost and expenses can be determine by the feasibility of the business. And how the person want to run the business. It also lies more the targeted audience. Not only that, it balls down more on the capability of the owner that is his or her financial strength.

 

[Milz]

Here's the need of a business plan where expenses are clearly stated out. Without these how do you intend to thrive in a business world where everyone is seeking to take advantage of you if you are found wanting.

 

[Divulgence]

The key to a successful business is preparation. Before your business opens its doors, you’ll have bills to pay. Understanding your expenses will help you launch successfully.

Calculating startup costs helps you:

Estimate profits
Do a breakeven analysis
Secure loans
Attract investors
Save money with tax deductions

 

[Youngdee]

It is very essential to take note of business cost and estimate on how to start up the business. You must breakdown the total running cost expected to drive all aspect of the business, do a survey on the product you want to sell, make a feasibility study. You must take note of your competitors and how you can surpass them with your market strategy.

 

[Neta Sam(Samuel Odunlade)]

It's not difficult to get your summary about all those things, but you must some findings about your business, how much do you need to get a place(location), what are human resource that you will need, what of the marketing strategy,the a visibility of your business, mobility of your business will also cost you.
In summary you may not have all this fianced before starting a business but it necessary for track records

 

[Profwriter]

Your start up cost should include the cost to start up the business till it begins to profit. Many people think that the start up cost is limited to what will make the business to begin but it's beyond that. People who go into business with such erroneous mentality hardly succeed in their business because they don't have what it takes to keep the business running till profits begins to come in.