Start-Up To Do List

Start-Up To Do List

When starting a new business, moving to a new location, opening a new branch or expanding your business, there will be start-up or one-time expenses. Know what these expenses will be by filling in the amounts of dollars required for each of the items listed below.

Item:

Real Estate, furniture, fixtures, machinery, equipment:
a) Purchase price – if paid in full with cash $ ______________
b) Cash down payment – if purchased on contract $ ______________
c) Transportation & installation costs $ ______________

Starting Inventory $ ______________

Decorating, refurbishment, & remodeling costs $ ______________

Deposits Required:
a) Utilities $ ______________
b) Rent $ ______________
c) Other (identify) $ ______________

Fees Required:
a) Legal, accounting, others $ ______________
b) Licenses, permits, etc. $ ______________
c) Other (identify) $ ______________

Initial Advertising & Marketing Costs (ie., flyers, sales letters and calls, signs, brochures, etc.) $ ______________

Accounts Receivable (_____ days of sales) $ ______________

Salaries and owners draw until business enterprise opens or until cash flow is positive $ ______________

Other miscellaneous expenses:
Merchant Association fees, equipment rental, office supplies, cleaning service, other supplies, signs, etc. $ ______________
Payments on other fixed obligations $ ______________

Total Start-Up Costs $ ______________

START-UP “TO DO” LIST

_____ 1. Know what type of business you would like to start and learn all you can about it.
_____ 2. Appraise your business strengths and weaknesses. Be strict and objective.
_____ 3. Conduct thorough research of potential customers, your trade or industry, your competition, your licensing and tax requirements, location, and name.
_____ 4. Determine type of business organization(ie. Proprietorship, Partnership, or Corporation)
_____ 5. Evaluate possible site locations. Check physical condition, suitability, traffic flow, parking, utility requirements, and cost.
_____ 6. Prepare a comprehensive business plan – include your action timetable.
_____ 7. Decide on your business hours.
_____ 8. Secure necessary capital. (Bank loan, budget to save, borrow on insurance, etc.)
_____ 9. Obtain needed facilities, equipment, furnishings, signage, supplies, stock.
_____ 10. Recruit personnel. Establish job descriptions and training program.
_____ 11. Print business cards, stationery, invoice or statement forms.
_____ 12. Register name of business (your assumed name) and/or file articles of incorporation with the Secretary of State. Publish notice in newspaper.
_____ 13. Secure any necessary permits, licenses, or zoning variations. Check with both local and state licensing agencies.
_____ 14. Register your business with the state and obtain a Sales & Use Tax Permit (if applicable).
_____ 15. Register for Federal tax number (Form SS-4) and obtain employee tax and withholding information from the IRS.
_____ 16. Establish bank account (separate from personal account). Shop for the bank and services that best suit your needs.
_____ 17. If you intend to hire employees in your business, phone your Department of Economic Security or Workforce Commission.
_____ 18. Issue news releases. Publicize your new venture.

By Surf-in-the-Spirit.

CAPITAL.MY