When starting a new business, moving to a new location, opening a new
branch or expanding your business, there will be start-up or one-time
expenses. Know what these expenses will be by filling in the amounts of
dollars required for each of the items listed below.
|
Item |
Dollar Cost |
|
Real Estate, furniture, fixtures, machinery, equipment: |
|
|
a) Purchase price - if paid in full with cash |
$ ______________ |
|
b) Cash down payment - if purchased on contract |
$ ______________ |
|
c) Transportation & installation costs |
$ ______________ |
| Starting Inventory |
$ ______________ |
| Decorating, refurbishment, & remodeling costs |
$ ______________ |
| Deposits Required: |
|
|
a) Utilities |
$ ______________ |
|
b) Rent |
$ ______________ |
|
c) Other (identify) |
$ ______________ |
| Fees Required: |
|
|
a) Legal, accounting, others |
$ ______________ |
|
b) Licenses, permits, etc. |
$ ______________ |
|
c) Other (identify) |
$ ______________ |
| Initial Advertising & Marketing Costs (ie., flyers, sales
letters and calls, signs, brochures, etc.) |
$ ______________ |
| Accounts Receivable (_____ days of sales) |
$ ______________ |
| Salaries and owners draw until business enterprise opens or
until cash flow is positive |
$ ______________ |
| Other miscellaneous expenses: |
|
|
Merchant Association fees, equipment rental, office supplies,
cleaning service, other supplies, signs, etc. |
$ ______________ |
| Payments on other fixed obligations |
$ ______________ |
|
|
|
Total Start-Up Costs |
$ ______________ |
START-UP "TO DO"
LIST
| _____ 1. |
Know what type of business you would like to start and learn all
you can about it. |
| _____ 2. |
Appraise your business strengths and weaknesses. Be strict and
objective. |
| _____ 3. |
Conduct thorough research of potential customers, your trade or
industry, your competition, your licensing and tax requirements,
location, and name. |
| _____ 4. |
Determine
type of business organization(ie. Proprietorship, Partnership,
or Corporation) |
| _____ 5. |
Evaluate possible site locations. Check physical condition,
suitability, traffic flow, parking, utility requirements, and
cost. |
| _____ 6. |
Prepare a comprehensive
business plan - include your action timetable. |
| _____ 7. |
Decide on your business hours. |
| _____ 8. |
Secure necessary capital. (Bank loan, budget to save, borrow on
insurance, etc.) |
| _____ 9. |
Obtain needed facilities, equipment, furnishings,
signage, supplies,
stock. |
| _____ 10. |
Recruit personnel. Establish job descriptions and training
program. |
| _____ 11. |
Print business cards, stationery, invoice or statement
forms. |
| _____ 12. |
Register name of business (your assumed name) and/or file
articles of incorporation with the Secretary of State. Publish
notice in newspaper. |
| _____ 13. |
Secure any necessary permits, licenses, or zoning variations.
Check with both local and state licensing agencies. |
| _____ 14. |
Register your business with the state and obtain a Sales &
Use Tax Permit (if applicable). |
| _____ 15. |
Register for Federal tax number (Form SS-4) and obtain employee
tax and withholding information from the IRS. |
| _____ 16. |
Establish bank account (separate from personal account). Shop for
the bank and services that best suit your needs. |
| _____ 17. |
If you intend to hire employees in your business, phone your
Department of Economic Security or Workforce Commission. |
| _____ 18. |
Phone the IRS for a free "Small Business Tax Kit" at
1-800-829-3676. For information about free Tax Education Workshops,
call 1-800-829-1040 or check out the IRS website for this
information. |
| _____ 19. |
Issue news releases. Publicize your new
venture. |
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