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Porsche Porsche is offline
Maven
Join Date: Feb 2006
Posts: 91
How much have your start up costs roughly been!

Hi,

I'm just interested to ask those who are already running business's and those who are in the process of starting one, how much your start up costs have been. I just wanted to see what is acheivable with different amounts of money. Of course starting your own website building company will cost less to start up than a bar but then turnovers etc will also be a lot less. Also have any been had luck with local grants. I don't mean prince's trust by local grants which you justify, as you are benefitting the environment, bringing jobs into community, providing a service etc.

Regards, Tony.
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Martin Martin is offline
Connector
Join Date: Jul 2002
Location: Luton, Bedfordshire
Posts: 2,726
I think your poking around in the dark with this question because the results would be far ranging and just because you might afford to start that type of business does not mean it will be a success.

How about picking 3-5 types of business you would in interested in running, and finding out the startup costs for these so you can find the most viable option to suit you?
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kinster kinster is offline
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Join Date: Sep 2003
Location: Leeds
Posts: 702
so far £250+VAT for branding & identity. Ingredients 25lbs for £46.48 to produce 189 items.
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Incepto Incepto is offline
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Join Date: Mar 2005
Location: UK
Posts: 1,093
If you made a poll, people would be more willing to reply ; )
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nick.martin nick.martin is offline
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Join Date: Oct 2005
Posts: 672
Quote:
Originally posted by kinster
so far £250+VAT for branding & identity. Ingredients 25lbs for £46.48 to produce 189 items.
curious what you make?
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Rhys's Avatar Rhys Rhys is offline
Connector
Join Date: Sep 2002
Location: Cardiff
Posts: 190
Hi Tony

What is it your looking to do exactly?

In terms of start up costs, they can vary quite abit.

I bought my first business just over a year ago, a laser tag centre for £27,000 which also included the first years rent. The business had been established for 13 years and while the activity is not as popular as when it first came out, the business still turns over a decent profit.

To start something like this up from scratch you would probably be looking at paying between £80,000 and £100,000 depending on the building.

The next business which I am looking at is a Family entertainment centre with the soft play area's and climbing frame etc. I am looking to spend between £120,000 - £150,000 but equally you could set a smaller one up for probably £60,000 to £70,000.
(Those climbing frames are unbelievably expensive!)

Having been a student before and regreted not starting a business earlier the only thing I would say is that you do have access to many loans (including the student loan company who charge a very low apr and which you don't need to repay until you are earning over £15,000 per year).
And you also have plenty of time on your hands - I think I was meant to be at Uni for 20 hours per week (doing business studies as well) but once you get the notes you could probably pick and choose the lessons you attend if you wanted to.

Do you know what your interested in?

Rhys
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eimanshalash eimanshalash is offline
Connector
Join Date: Feb 2005
Location: London
Posts: 482
It's costing me almost £10k according to my spreadsheet!! That includes all expenses like travel, subsistence etc.

But I've just VAT registered which means I should reclaim back about £800.

I've actually obtained £5k grant from a charity to support social entrepreneurs...i.e. in my case developing resources for school science classes.

But turnover has only been about £1k.

Are people normally secretive about these things and ....um...should I be ...
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kinster kinster is offline
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Join Date: Sep 2003
Location: Leeds
Posts: 702
Quote:
Originally posted by nick.martin
curious what you make?
it's cereal, but it isn't ready yet.
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