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Startup Costs

    • 1 posts
    June 9, 2013 11:39 AM EDT

    Hello,

     

    I am seriously considering opening my own business.  It will be a service business working mainly with generators in my area.  I'm putting together a list of my startup costs to understand how much money I would need to start the business and I was hoping somebody with experience in this area can help me confirm that I'm not missing anything.

     

    Costs of incorporating

    Costs of Tools

    Business Cards

    Liability Insurance

    2 months of salary for me

     

    This is a business that doesn't need a physical address at this point and will be operated on the road or from my home.

     

    Thanks in advance for your help.

     

    ---
    Backup power generation sales and service

    • 11 posts
    June 12, 2013 4:42 AM EDT

    I would go with more than just two months of salary, but you are on the right track.  Don't forget a vehicle, and related expenses.  You'll also need some kind of advertising expenses.  i recommend a virtual 800 number (they're cheap). 

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    Joe Haffey, President Happy Brands Web Services www.happybrands.info

    • 27 posts
    July 5, 2013 2:44 AM EDT

    I would also suggest you look into alternative options for your other costs like the tools you are going to need or equipment you will be needing for your operation. You can consider leasing them instead of buying them even for simple office equipment. As much as possible you would want to reduce the cost of your start up.  More importantly, you should have a long term plan on how you will promote your business.  At the end of the day if all your hard work does not convert to sales then your efforts would have gone down the drain.

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    LeaseQ

    • 10 posts
    July 18, 2013 5:58 AM EDT

    GenMan - Congrats!

    We might be able to assist with getting your venture off to the right start...

    Depending on the amount of funding you are looking at, we can offer creative funding sources from our newest firm:

     

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    You can either connect with me personally, or visit our 24hr Approval portal and work with a dedicated agent through our site.

    LK

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    Linda King, Owner of Legacy Asset Solutions - Powerful & Effective Financing Solutions.