How Much Does Starting a Business Cost?
This is a very broad question, and requires some important questions to be answered before you can determine the cost of any business.
First, what kind of business do you want to start? In other words, are you going sell a product or offer a service? If you are offering products, then you are going to need to stock and maintain inventory.
In order to do this, you will need to have extra space available.
Are you going to sell products to customers who walk in on the spot, or are you going to ship products to fulfill customer orders? This will come with the need to set up some sort of shipping and packaging service.
If you are offering a service, what kind of service are you going to be offering? For instance, if you are a plumber, then you will need to maintain tools, parts, and supplies.
You will need to be licensed, insured, and bonded.
You will need to possess a work truck or van.
Another example would be a business offering on-site IT support.
This may not require the same amount of parts and supplies, but will still require the need for computer parts, equipment, and software on hand.
Is this business going to be home based, or are you going to have a location in town? Obviously, in most cases, a business out of your home is going to be the cheapest route.
If you are going to have a location in town, then you have the added expense of a lease, utilities, and maintenance of your building or office location.
Are you going to have employees? If so, are you going to offer benefits? Benefits will ensure that you retain your loyal and hard-working employees.
On top of paying their salaries, you have the added expense of paying Employment Taxes, such as Social Security/FICA, and Workmen's Compensation.
You will need to provide some sort of physical space to house the employees.
Employees will need the necessary equipment to be able to perform their daily duties.
This only breaks the surface regarding the costs associated with starting a new business.
If you are asking the question "how much does starting a business cost," you must be thinking hard about starting some sort of business.
For those people who do not have a large amount of capital for launching a business, I have an awesome suggestion for you.
Consider a home based business in online marketing.
The cost of getting started is equivalent to a weekend trip with the family, and the cost to maintain this sort of business is very minimal.
This business does not require inventory, parts, supplies, employees, and extra space.
People are creating wealth and financial security for them and their families on a daily basis.
First, what kind of business do you want to start? In other words, are you going sell a product or offer a service? If you are offering products, then you are going to need to stock and maintain inventory.
In order to do this, you will need to have extra space available.
Are you going to sell products to customers who walk in on the spot, or are you going to ship products to fulfill customer orders? This will come with the need to set up some sort of shipping and packaging service.
If you are offering a service, what kind of service are you going to be offering? For instance, if you are a plumber, then you will need to maintain tools, parts, and supplies.
You will need to be licensed, insured, and bonded.
You will need to possess a work truck or van.
Another example would be a business offering on-site IT support.
This may not require the same amount of parts and supplies, but will still require the need for computer parts, equipment, and software on hand.
Is this business going to be home based, or are you going to have a location in town? Obviously, in most cases, a business out of your home is going to be the cheapest route.
If you are going to have a location in town, then you have the added expense of a lease, utilities, and maintenance of your building or office location.
Are you going to have employees? If so, are you going to offer benefits? Benefits will ensure that you retain your loyal and hard-working employees.
On top of paying their salaries, you have the added expense of paying Employment Taxes, such as Social Security/FICA, and Workmen's Compensation.
You will need to provide some sort of physical space to house the employees.
Employees will need the necessary equipment to be able to perform their daily duties.
This only breaks the surface regarding the costs associated with starting a new business.
If you are asking the question "how much does starting a business cost," you must be thinking hard about starting some sort of business.
For those people who do not have a large amount of capital for launching a business, I have an awesome suggestion for you.
Consider a home based business in online marketing.
The cost of getting started is equivalent to a weekend trip with the family, and the cost to maintain this sort of business is very minimal.
This business does not require inventory, parts, supplies, employees, and extra space.
People are creating wealth and financial security for them and their families on a daily basis.