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  Business Start-up CostsFriday, February 23rd, 2024  

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.


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 $ ______________


_____ 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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