Projecting Your Startup Costs
Get real when it comes to accurately figuring out just what it'll cost you to get your business off the ground.
By Nichole L. Torres • Sep 1, 2004
Opinions expressed by Entrepreneur contributors are their own.
Do you know how much it will cost to get your business off theground? The SBA recently asked a group of entrepreneurs in theprocess of starting businesses exactly how much they expected tospend on startup. Solo entrepreneurs projected costs at $6,000 (themedian), while team ventures projected $20,000.
Are those realistic estimates? It depends on your business, saythe experts. To get the most realistic estimates of startup costs,start with a detailed business plan, says Tom Perkins, businesscoach, motivational speaker and founder of the VirtualBusiness Manager in Portsmouth, New Hampshire. Categorizeabsolutely everything that will cost you money, from build-outcosts and equipment leases to rent and utilities for office space."A lot of times, people don't actually get a fair overviewof what's really involved in the [startup] expenses," saysPerkins.
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