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