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Additional Details
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Additional Details
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Shez | How much do you think is enough to start up a business? ? ? |
Including start up costs and running costs
Additional Details
A shoe shop |
 |
 
ynot
|
I would strongly recommend that you talk to a business counselor before you do anything especially spend money. If you intend to establish the business in the USA and you are living there, I'd call the local office of SCORE (go to http://www.score.org and input your zipcode to find the chapter nearest you), the advice is FREE.
The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of starting your particular business and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market ) and how you'll go after them.
Depending on the business you want to start up, they'll be certain startup costs like, registration, insurance, prepaid rent, consulting fees and the like that may apply to almost any kind of business. However, if you are going to start a restaurant, for example, you might need kitchen equipment, furniture, cutlery and dishes, table cloths and linens and a lot of other stuff that you have to invest in even before you open your doors.
Some other types of business you can run from your home and don't even need to worry about renting/leasing space.
So to answer your question, it is hard to give a figure and you'll need to make a business plan and do the financial analysis to come up with the numbers.
Whatever the final number is, if you are going for a loan, make sure that you have good persoanal credit, your score should be better than 675 and also make sure that you are prepared to invest 25% - 30% of whatever you need in total.
Try this web site for some information:
http://www.ychange.com/small-business-co...
and read some of the articles especially the ones about a business plan and starting a business.
Good Luck |
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Smiler
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It really depends on your business ideas -
If you are serious then your market research (which is essential) and business plan (also essential) should give you the information you need... |
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imisidro
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It really depends on the type of business you will run
A tanning salon with 10 beds located ina good traffic area will cost anywhere from $200,000 to startup including marketing costs.
An advertising based blog can be started anywhere from free to the cost of computer.
How much is enough? Enough to cover all the costs involved, so you need to first decide on the business, then analyze all the costs the business it entails |
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Marky
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Thats impossible to say without knowing the type of business.
Do you need premises, equipment, staff, stock?
If you need non of the above, then maybe £5K, but with premises, stock etc it could be £50K or £500K depending.
To start a shoe shop in the UK, employing 2 members of staffm legal costs, business rates and stock, I would imagine you would need around £80,000 - £120,000 depending on the size and location etc. |
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tabulator32
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Too vague a question.
What KIND of business.
A typical fast-food or cafe franchise is about $120,000 to $250,000 off the bat. |
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coolcatz
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As most of your answers are very similar It does cost quite a lot of money to get started with lots of overheads with no guarentees either. You won't see any profits from your investment for at least 3 - 5 years.
If you fancy having a homebased business you can save an awful lot of money to start with and start making money straight a way. It is flexible so can be done around your full time job or other commitments.
If this is something that takes your interest, I know serveral people that are doing this and making good incomes from it and they get ongoing help and support.
www.seethebizz.co.uk
I wish you all the best. |
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Serge M
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As most respondends say, it depends on the type of business. You can start some businesses with $10. Some others may take $10 billion dollars. To determine how much you need, you should develop a business plan. Before you can do that, you need to study similar businesses so that you are able to estimate your expected expenses and capital requirements during the initial period of opertion. Your question is so broad, the answers could fill many books. In fact, that is a good way to start. Get some books on starting businesses, or on entrepreneurship and read them to develop a basis for answering your own question. |
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shiznikk
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Totally depends on what type of business you want to start. Kool-aid stand about 20 bucks. A really nice restaurant a few million. Good luck! |
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kate
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it depends what business your opening |
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Steve F
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Lots of shoes |
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Shadow
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idk want to have sex? lol |
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