Now your total business opportunity or franchise business opportunity startup investment doesn’t have to be an unexpected and unwelcome surprise thanks to an easy-to-use startup calculator provided by the Wall Street Journal. Designed to take much of the guesswork out of the startup process, this simple tool is one any aspiring home-based or other small business owner can’t afford to live without.
While on the face of it buying a new or existing small business may seem like a pretty straightforward proposition, don’t be fooled. When it comes to business startup, as is true of so many things, the devil is all too often in the details, many of which you may not have even thought about.
Legal fees, website and logo design, insurance, training, supplies, pre-opening marketing…these are just some of the initial expenses you will more than likely encounter. What about your assets? Tangible or intangible and while they may not be deductible against income like expenses, their declining value over time can be depreciated, also making them a very important part of the startup equation. Lastly, what do you anticipate in the way of ongoing monthly expenses like rent, utilities, payroll, inventory and marketing? Making your best educated guess across the board on this front is incredibly important and must be included in the mix if you want to have a realistic shot at being successful.
Walking you through these three critical planning steps—startup expenses, startup assets and recurring costs—in a very linear and structured way, the WSJ calculator lends a sense of order to what can all too easily become a haphazard process. The final result? A comprehensive assessment of what you will need in the way of upfront investment, something that any entrepreneur with an eye toward being successful will want and need to know and understand sooner rather than later. You’ll probably want to check out the Best Medium Sized Business Ideas and Entrepreneurial Opportunities.
Click here to access the WSJ Startup Calculator now!