How do I determine my startup costs and other expenses?

[Ibrahim]

As for me startup cost is essential and this usually works well with an overall budget including and also determine the location of your business if it is an online or offline kind of job if offline you have to look at the site of the job

 

[Asad Ali]

it's far critical to have the approximate charges which you face whilst you will spend money on a business. Without this records you need to now no longer begin making an investment considering the fact that it's miles in all likelihood that you'll now no longer have the ability to finish because of loss of capital. If you do now no longer have the essential understanding in finance, it is ideal to rent a specialist

 

[MercySmith]

before you start up any business, it is very important that you carry out a research to the know what the business will cost you. Reflect your findings in your business. Another thing to research on is peoples acceptance to the product you are about to let into the market.

 

[JamoPosh]

If it a business you do have knowledge or idea about. Then proceed to making research about your business plans. What you need to get started, facilities and other resources to make the business survive, then note their cost and maintenance expenses. The best is to seek an in-depth information about the business from those running that same business model.

 

[Suba]

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.

How do you determine startup costs and other expenses,
First you have to do a reset with similar businesses / companies, to find out their principal capital and operating costs. The second estimate is the minimum requirement for capital expenses, (investment capital) to purchase expensive and long-term assets such as machinery, transportation equipment, computers / laptops, development of business space, etc. Then estimate how many operational expenses such as business license fees, shop / building rent, electricity costs, employee wages etc. The third is the estimation of working capital expenses, raw materials, wages for production, (direct labor) and factory overheads. (in trading business is Inventory)
After you can calculate or estimate the amount of these costs, now you only need to add them up so that you can terminate startup costs and other expenses.
Initial Capital = Investment Capital + Working Capital + Operating Capital

 

[Sheyemanu]

I am of the personal opinion that ehat you have mentioned above is important when starting a business. It’s best included in a business plan. This will get you prepared and give you insight on the cost of expenses beforehand

 

[Setho]

In trying to identify how much it would cost you to start up a business, you should consider how much it would take in every aspect of the business, from production, storage , packaging marketing, tax, rent and salaries of your employees together with every miscellaneous I'm the business.

 

[Spicywilfred]

Doing a feasibility study for your business is one way to know the capital start up for your business.planning the process for the business ...

 

[Victor001]

Set a target,and decide how you intend to meet the target,what you ought to do and how you intend to do it to meet up the target. Business is strategy and capital comes last.

 

[Setho]

Sit down and calculate how much each equipment you will need will cost, the cost of rent age, license and other legalities, salaries for some months and you will get your start up cost easily.

 

[Setfragil]

To determine the start up capital for your business, you can employ the services of professionals who have been in the business for some time to give you rundown of all it takes to start the business.

 

[Josemendez]

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.

I think the start up cost cannot be determined by any body but the person doing the business. He will have to look at the business , listed what to buy or build and then go for market survey.

 

[Shigobad2020]

As for me startup cost is essential and this usually works well with an overall budget including and also determine the location of your business if it is an online or offline kind of job if offline you have to look at the site of the job

Normally start up cost is very essential in business world , all you need to do is to research in the type of business you want to do and study the amount of money you are going to need for a start depending on the quality of the business,

 

[Hena101]

This is very important because there is no way you will succeed without knowing these things in fact this must be included in your business plan that's why it's important to have a good and realistic business plan that include all this things. So that you can know what to at a time not just doing things blindly.

 

[eLdavis]

The startup cost needed to start a business i believe can be found in the business plan. When making a business plan, i believe you should have a clear vision of what you plan on doing. Do you want to start with a shop or office space? Do you need to buy equipments like chairs and tables? After you have mapped out your plan, then find out the prices for the things you need and sum up

 

[Blessingedidiong]

Estimating your start up cost and expenses for a business is very necessary. Once you have decided on the type of business to do, make a list on the tools and equipment that will be needed to run the business and make enquiries on their prices before concluding on the amount to invest in a business. Source of power supply and space for the business should also be considered.

 

[Lordfalcao]

Well you could determine all these and even many more though effective and a efficient budget plan with this everything will be accurately estimated for you.

 

[Funky]

The best way to know your start up cost is by carrying out a feasibility study and actually finding out from the market what you need to start and how much it would cost.

 

[Shigobad2020]

The best way to know your start up cost is by carrying out a feasibility study and actually finding out from the market what you need to start and how much it would cost.

I do like the way you explained everything, you can know your start up cost if you get a detailed information on the quantity of what you want to start selling , and from there ,you can pick the price up.

 

[babdud02]

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.

I believe it’s just important to fully understand or what you’re getting into before starting anything but I won’t want to rely on any external means, through proper ways i should determine the cost for my business myself