I’ve had alot of people asking how to determine how much they will really need for their first year. Well I was running the majority of them through the list of their expenses that would possibly incur in their first year and telling them to use that to come up with their total startup costs. Well thanks to Alomax at DreamGCS we have an excellent worksheet that can be found here to use for free!
This is a simple worksheet that you can fill out to get a pretty general idea of what you will be investing in your first year, and even gives you a great scale-up on the first year (You won’t start day one at 25% utilization). The worksheet will also give you a great idea on how much money you will lose or make in the first 5 years with 5% a year growth. It can be a used for a variety of purposes; ie. Loan Packages, Business Plans, etc.
So Make sure you give the worksheet a look over. Hell, I gave it a look and it calculated in costs that I even forgot to calculate in my first time.