How do I determine my startup costs and other expenses?

[Nomad]

If you let the project decide the start up cost, you might end up spending a lot of money on your project. A better alternative is to allot funds for your start up and try to complete the project within the budget.

 

[Setfragil]

Your startup costs is determine by the size of the business that you want to establish and the type of the business. You can start your business small and keep funding it as it grows.

 

[Jlife]

You can get an idea from people that have been in the same type of business you are going into ,because they are able to advise you and give you the best necessary step for you to take.

 

[kayode10]

You can simply approach those who are in the business before you and make some enquiries from them. You can ask them some basic questions so as to get more information from them.

 

[Setho]

You can very well determine your start-up cost for your business if you will put into consideration every single thing that you will need. This should include the salaries of your employees and the amount of equipment that you will use.

 

[Solutionav]

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 can't just start up business without approximating the cost of the business you want to start I think it will be nice if you have some saving to start but if you are to borrow be sure of the business before doing that

 

[HayKay]

That's why you need to conduct a market survey and feasibility report. There you'll have your answer because it'll help you estimate what's needed for the venture.
A little thing also in carrying out your market survey, make sure you sub niche that is, be very specific about your market

 

[Setfragil]

You can get an idea from people that have been in the same type of business you are going into ,because they are able to advise you and give you the best necessary step for you to take.

This is the most easiest step to take when you do not have the idea on the startup cost of a business and other expenses that will be involved. The wealth of knowledge and experience of those who have been in the business for a long time can not be overemphasized in helping you determine it.

 

[Jlife]

This is the most easiest step to take when you do not have the idea on the startup cost of a business and other expenses that will be involved. The wealth of knowledge and experience of those who have been in the business for a long time can not be overemphasized in helping you determine it.

Yes and they will be able to give you much information about it, most of them will tell you the most challenging fact about the business you are going into so that you can know how to face it earlier.

 

[Kelly5]

You get the statistics from similar businesses first to determine what yours is going to look like when you eventually kick starts things. So get it from similar type businesses

 

[Setfragil]

Your start-up cost can be determine by the type of business that you want to do, your choice of business location, and the size of the business you want to establish.

 

[Richard92]

Your start-up cost can be determine by the type of business that you want to do, your choice of business location, and the size of the business you want to establish.

You can determine your start-up cost another plan by virtually making research that is one thing you have to do before you start any business you make good research.

 

[Sotherefore]

It is just a simple strategy, most of the time its depends on the size of the business that will determine what will be the actual amount of money that will be needed, Bigger business needs big capital

 

[Dowenship]

After you must have listed your budget based on your plan and you are able to initialise it with your present financial status then you will know how to determine your startup cost and expenses....

 

[Justin]

How much money you will have to invest in your start up depends on the market size you arr targeting, the product you are developing and money you will be spending on ads.

 

[Richard92]

How much money you will have to invest in your start up depends on the market size you arr targeting, the product you are developing and money you will be spending on ads.

You can be able to determine your start-up costs and other expenses by simply making research of the kind of business you want to start up.

 

[Alexandoy]

It is just a simple strategy, most of the time its depends on the size of the business that will determine what will be the actual amount of money that will be needed, Bigger business needs big capital

Usually it is the rent that takes up most of the budget. Choose a location that requires a lower rent to make it affordable. A small business is better for a start up.

 

[Sotherefore]

Usually it is the rent that takes up most of the budget. Choose a location that requires a lower rent to make it affordable. A small business is better for a start up.

Most location that will require a small amount of loan will always be in a location that may not be lucrative for the business, it will either be a location with low population in which your products won't be exposed to a lot of people

 

[Ceeny007]

What you need to do is to Carry out feasibility studies,go out and meet manufacturer or dealerships to ask price of machinery,also check depots to inquire about price of raw material

 

[Chizfab]

This is why it is advisable to first conduct a feasibility study and market survey to determine all the necessary things you need to start up the business. From there you will be able to know the exact amount you need to start up you business and many other important things.