What are your monthly expenses for your business?

Question

I already have the following written down:

electric, water, gas, annual taxes

What else should I include in my expenses either annually or monthly?

Thank you!

(beginning stages of opening a small store) (not from home)

Answer 1

Are you planning on leasing any equipment?  

A vehicle for pickups or deliveries?  

Postage

Salary and benefits for your employees

My business plan for the business I'm planning on opening lists expenses at about $10,300 a month.

Answer 2

What about mileage, fuel, printing costs, advertising costs, rental fees (building/furniture)?

Answer 3

in the travel website business, 49.95 to keep my website up, and for the company to update as necessary.

Answer 4

Do you think you might use a telephone?

Answer 5

Instead of asking for a list of monthly expenses, I would recommend the following:

1) Go to Score.org and spend a significant amount of time on the site.  

2) I would recommend going to Microsoft.com and pulling down some of their templates that will give you budgeting formats.  Most of them will have most of the expenses yoiu can expect.  There is one for a retail store there.

3) Monthly expenses are extremely variable (not from month to month but the base amount of each expense) and based on location (rent will be one of your higher expenses in the mix).  I don't know what retail you're going to be involved in;however, you'll find that some of your fixed and variable expenses will be dependent on what you sell.

4)  I also would find other like business owners in the area and discuss their expenses with them.  Most will share how much things cost if you're not a threat to them.

5) Go to a CPA, they should be able to give you a sample chart of accounts as well as some idea as to the cash requirements to start, continue, and expand.  They can help you plan - and this is something I strongly recommend.

As you probably know - there are and incredible number of buisnesses going out  - just as many that are going in.  This should tell you something.

Its good that you ask now - and lastly, just because you plan, which we highly recommend, doesn't mean you can plan for everything.  Make sure you budget in another 20% for the "flux" factor.

Answer 6

Rent or mortgage (plus maintenance)

Loan repayment

The pay of any staff, bookkeepers, etc., you might have or use occasionally.

Internet connection and web hosting. (Design too unless you build your own)

Inventory, with a wastage allowance for lost or damaged items.

Congratulations on your store -- all the very best to you in the future.

Answer 7

Rent, Inventory, Start-Up Expenses (racks, shelves, equipment etc.) Advertisements,

And enough cash reserve to sustain you and your family for at least three months.

Because you are a new kid on the block, your suppliers will want to be paid 30 days or less.

Remember you will NOT sell all your stock every 30 days. Your inventory has to be paid pronto !!!!