Costs of Setting Up the Business
This is where we help you get down to figuring out how much it will cost you
to open your doors for business on day one.
Before you dive in, you may want to take a look in the Business
Tools at an initial
cash requirements worksheet for the new business. It's a
list of all the things you need to consider when figuring out
your startup costs.
The worksheet is an Excel 5.0 template. Because it's a
template, you can reuse the worksheet and still retain an
original copy of it.
The worksheet is set up to be used for forecasting your cash
requirements for the startup of your new business. We've
formatted the worksheet and put in most of the cash requirement
categories for you. All you have to do is put in your numbers
and print it.
Once you've downloaded the worksheet, feel free to modify it
to fit your own needs.
Your startup costs can be broken down into the following categories:
The first time you go through the costs to start up your new business, you do
not need to be particularly precise. You can just "ball park" the
amount to get a rough idea of your expected startup costs. To figure out how
much you'll need for the first few months of operation, see working
As you work through these topics, don't forget that your
accountant can be a great source of information for helping you
make startup cost estimates. If your accountant has small
business experience, he or she should be able to tell you
whether your estimates are on target.