Your Small Business Administration can help figure out your business plan and help you with calculating the costs.Lets start with the basics: inventory, utilities, fixtures and rent.Rent is the most important to consider. Figure $40/square foot for most places, $120/square foot for a mall location. You might want to call a few of those numbers on the For Lease signs to get a better ballpark for your part of the country. Triple net is something to beware of. The net is on-going maintenance and landscaping fees charged by the landlord. It is divided up by the tenants based on the % of total square footage each tenant rents.Utilities are pretty much set. Contact your utility companies and ask what the monthly bills were for the locations you are considering. Add about 10% to the numbers they tell you. Add in security services to your utilities section.Fixtures are the clothing racks, checkout counters, cash registers, etc, that you will want for your shop. You can find stores that sell these items and start pricing them in your area; look under business supplies and store fixtures/shelving in the yellow pages.Inventory is your area expertise, you should be able to estimate how much the inventory will cost.With those done, lets move to the advanced things: employees, insurance, professional fees and permits.Permits are your sales tax permits and tax exemption numbers. These are usually one time fees paid to your state.Professional fees are what you pay for the lawyer to help you set things up and your accountant to keep your books straight. Figure about $1000 for the first year for the set up and $400 annually for the book keeping.Insurance will vary by where you are and how much coverage you want. Call insurance brokers in your area for ballpark figures.Employees will cost you more than you think. Even at minimum wage, plan on $14 per hour for an employee to cover insurance and taxes you have to pay. My estimate might be high, but it is better to over estimate instead of falling short, plus it will help cover extra employees during the holiday seasons.
about 100,000.68
