Business Start-up Costs

Author: Ashley

19 Feb

I haven’t written much about our business since I mentioned that I started it. Mostly because I’m still trying to get things going and we haven’t had any work. But I thought I would list our start up costs for you.

Phone: $20 to set it up. I added a line to our family plan for $10 a month. The phone was free, but I had to pay taxes on it which was $20. Since I got it at Costco they waived the $35 activation fee.

PO Box: $21 for six months. I’m trying to avoid having our home address as the business address. It’s not the type of business that will get a lot of mail and I certainly won’t have people coming to my house so no need to have my home address out there for strangers to see.

Insurance: $958 to get it started. This is two months of general liability insurance, a years worth of workers comp, and a years worth of an umbrella policy, I believe.

Quickbooks: $70, normally $140 but I had a $70 coupon from Costco. I love them so much!

Tradename: $35 to register our business with the state. It cost an extra $25 to have it expedited, normally it’s $10.

Shipping: $8.00 to FedEx the contracts to the company that is hiring us. Wohoo!

So that’s $1,112 so far. Not too bad. I think all I need now is a bank account, which will be free to start, and my tax ID for the state, which is also free to get. I mailed my tax ID today and I need my Tradename to be approved by the state before I can get a bank account, which is why I expedited it. Should have that early next week.

It has also had some indirect costs such as the computer rearranging I mentioned yesterday. We have picked out a $40 stand for the TV in the family room and I am going to paint my new office, but I’ll be using some paint that was left over from my daughter’s room. We also emptied a bunch of DVDs off a bookcase to move up to the office. So we are donating our bookcase to the business and needed a binder thing to put the DVD’s in. And then obviously gas, time, stress, ect.

pic by: angusf

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Filed under: business

5 Responses for "Business Start-up Costs"

Trevor @ Financial Nut February 19th, 2009 at 5:34 pm 1
That doesn’t seem too bad. It’s interesting how even list expenses can add up in a hurry!
Jules @ Lovely Las Vegas February 19th, 2009 at 11:28 pm 2
Lots of things to organize and plan out. Nice list.

Best wishes with everything!
Miss M February 20th, 2009 at 9:14 am 3
That really isn’t bad for a business start up. Anything I’m interested in costs a ton of money, just the license for the software I use at work is $2500. Are you going to have to renew the general liability in 2 months? I wish you lots of luck, your business idea sounds solid.
Ashley February 20th, 2009 at 10:37 am 4
Miss M: I can pay monthly on the general liability policy, so I have monthly payments of $180 on it.
LAL February 20th, 2009 at 1:48 pm 5
Good luck and I have news!