How do I determine my startup costs and other expenses?

[Alexandoy]

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.

The research for the feasibility study or for the business plan should be done on similar businesses. For example if your planned business is retailing household items then check on stores with that kind of business and also with the same size as what you plan.

 

[Skysaint]

The best way to determine such is by doing a market survey and analysis because the startup cost do sometimes vary from place to place

 

[Setfragil]

To determine your business start-up costs depends on the types of business that you want to do, the location and the size you want your business to be will help in determining tour start-up costs.

 

[Ezekiel]

There is a popular saying in my country that if you don't know where you are from certainly you don't know where you are going

Post automatically merged: Sep 12, 2021

This means until you know where you are coming from that is when you will know where you are going,if as a business man you do not know where you are and where you want to be in future,then you might be stagnant in the business

 

[Jlife]

To determine your business start-up costs depends on the types of business that you want to do, the location and the size you want your business to be will help in determining tour start-up costs.

In this case that means we need to carry out the research base of the location we have map out to establish our business .this will give us an information on how we can predict the start-up costs for the business.

 

[mcjerry]

It is very important to know the start up capital for a business before starting the business. Because if the startup is not enough, it might get to a stage that the business will not be able to move up but fail

 

[Shigobad2020]

Some people normally said calculating the start business is really easy but there are some expenses that don't normally comes up until some moment and its not easy to for see.

 

[Ghost]

It's simple, by keeping records of all the monetary transactions you've carried out this will help you determine what you have what you've spent and all that

 

[Samknowis]

It is important to note that as someone who is just starting a business , you have to properly estimate the cost of starting up the business, so that there aren't any deficits. That is why proper research and feasibility studies is need to be able to carry this out successfully.

 

[Kaffyfolla]

Your feasibility study will let you determine the start up cost, then you now plan how is going to be executed

 

[Tislad]

Look down into your lifestyle you will have a unique name that will sell you to the world and use it to name your business you will be surprised how many franchise you will sell

 

[Joseph212]

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.

Sure it is important to all business personel to no the actual capital of it is important in other not to loose so much cos there is no starting business without loss

 

[Toyoabasi]

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.

It is very helpful being able to determine start-up costs for your business.
This will help curb unnecessary borrowing or loan seeking, and prevent you having to stop your business start-up halfway.

 

[Tislad]

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.

True talk and another thing there are businesses that didn't do well because after the visibility study they try cutting cost to setup believe me it puts businesses in danger afterwards.

 

[Yhubee]

You can determine your start up cost and expenses through mentors, people who have been into the same business,business Sites and apps and business experts

 

[Setho]

You should make a detailed and comprehensive list about all the things you are likely to need in the business including equipment and the amount that you will pay your initial staff.

 

[Ghost]

It is important to note that as someone who is just starting a business , you have to properly estimate the cost of starting up the business, so that there aren't any deficits. That is why proper research and feasibility studies is need to be able to carry this out successfully.

And also keeping records. This is basically the sole method on how one would know how much he spent in start up and further expenses

 

[Trexxxy]

And also keeping records. This is basically the sole method on how one would know how much he spent in start-up and further expenses

I agree very important, keeping an eye on your expenses or expenditure is very important and you could see for yourself areas where you are lacking and whatnot.

 

[Tislad]

You can determine your start up cost and expenses through mentors, people who have been into the same business,business Sites and apps and business experts

I'm sorry to say but I really disagree with you I believe only you can determine you start up coast and other expensive as long as you know the kind of business you really want yo go into.

 

[Elfinito]

A good business plan would help you determine the cost of your start-up.
Make necessary enquires from already successful business men and women and get good knowledge from them