Costs of Setting Up a Business

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Starting a business can cost as little as $500 or as much as $1 million. Investing in a business location, buying office equipment and purchasing inventory are common expenses shared by most business ventures.

Operating any business requires a computer with Internet access, equipment specific to your industry and business insurance.

Plan to purchase office furniture, obtain a business license, and secure the services of an accountant. Paying for the development of marketing and advertising campaigns is also an expense shared by every business.

Business Location Costs

Renting, leasing and purchasing a business location represent one of the most significant costs of doing business.

Plan to spend no less than $1,000 to purchase a business location. Allocate an average of $1,500 for a monthly mortgage, lease or rental payment.

Signage

Hiring a sign painter can cost $150 for a small sign and up to $3,000 for an electric sign. Consider having more than one sign on your business location that can be seen by approaching traffic in any direction.

Consider purchasing a large grand-opening banner to hang on the front of the building and smaller banners for the interior of the office.

Office Equipment

Purchasing office equipment that includes computers, fax machines, copiers and a commercial telephone system can run close to $10,000. Copiers can be very expensive and most business owners regard them as a must-have.

Running a business that requires specialty office equipment such as commercial sewing machines or welding equipment will also increase the start-up cost.

Office Furniture & Supplies

Establishing a professional and successful business impression is essential. Investing in office furniture and supplies can cost up to $5,000 to furnish a single office.

Furnishing your office with second-hand office furniture or donated odds and ends will not contribute to the best first impression.

Opening an office with bare walls is a missed opportunity to impress your prospective clients. Fine-art selections that share a common theme should be displayed at eye level.

Interior Design

Consider hiring an interior designer or decorator for around $500 for a small office. Seek the advice and services of a space planner, if your office is larger than 2,000 square feet, for just under $1,000.

Visit fine-art galleries and consider purchasing fine-art prints instead of originals. The average cost of a print is $100 to $200. Buying art from local artists is a good way to keep costs down.

Advertising and Marketing

Find a website designer based on the quality of his work, not the price. Plan to spend up to $1,000 for a five-page website that includes images and website content.

Hiring a professional graphic artist and advertising account executive to create profitable campaigns can cost $1,000 to $5,000 to start. Investing in quality business cards and brochures will cost up to $500 ,and quality is worth every cent.

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