Opening your very own store is a good thing. It is even more so when that business is in line with what you can do. If you are fond of bicycles and have one or two skills to show off related to that, then you just have to start up a store in this trade. After that, you can then promote it as the best bike shop Manhattan.
The start up can be a bit tedious. You have a lot of steps and legal actions that you got to take so that you can start up this business without worrying about any problems later. The work you have to do as an owner does not have any day-off as well. You need motivation and effort to be able to sustain the business.
It is not only these elements you need to care for. There are expenses relevant to your start up that you must care for. The said expenses will surely eat through your capital if you are not careful with how you take care of them. Here are the expense categories that you should take note of in your start up business.
First, you have the payroll expense. This is the category for the expenses you make when you are paying your employees for their work. This is basically for the employees' salary. In your type of business, it will be impossible to do it on your own. You need to have a few people around. These people need to be paid.
You also have the occupancy expense. The said category is meant for those who are renting a commercial space or lot. This can cover the rental that you have to pay for the said commercial space or lot. Not only the rental, it will also cover utility expenses such as your light bills, water bills, and other bills.
Expenses that were made for the sake of advertising the business should be under the advertisement expense category. Every expense you make for the sake of making advertisement materials you will use to make your business more visible to the target market should be under this category. The amount may be considerably high.
Another expense is the auto and delivery. This is an expense that covers the money you spend on your business automobile. It may be the gas refill or auto repairs. You usually need an automobile for this type of business, especially when you offer pick-up or delivery for the bicycles that are entrusted to you.
Insurance is another expense to think about. The business you own must be covered by an insurance policy so that you can properly protect yourself when something happens. The insurance is also a requirement you need to comply in starting a store. It will be problematic without it.
Office supplies expense. The business will need to be operated with ease. To make it easier to operate the business, there are office supplies that you can use. The purchase of these office supplies can be considered as an expense for the business. Make sure that you take account of them. They have to be in the office supplies expense category.
The start up can be a bit tedious. You have a lot of steps and legal actions that you got to take so that you can start up this business without worrying about any problems later. The work you have to do as an owner does not have any day-off as well. You need motivation and effort to be able to sustain the business.
It is not only these elements you need to care for. There are expenses relevant to your start up that you must care for. The said expenses will surely eat through your capital if you are not careful with how you take care of them. Here are the expense categories that you should take note of in your start up business.
First, you have the payroll expense. This is the category for the expenses you make when you are paying your employees for their work. This is basically for the employees' salary. In your type of business, it will be impossible to do it on your own. You need to have a few people around. These people need to be paid.
You also have the occupancy expense. The said category is meant for those who are renting a commercial space or lot. This can cover the rental that you have to pay for the said commercial space or lot. Not only the rental, it will also cover utility expenses such as your light bills, water bills, and other bills.
Expenses that were made for the sake of advertising the business should be under the advertisement expense category. Every expense you make for the sake of making advertisement materials you will use to make your business more visible to the target market should be under this category. The amount may be considerably high.
Another expense is the auto and delivery. This is an expense that covers the money you spend on your business automobile. It may be the gas refill or auto repairs. You usually need an automobile for this type of business, especially when you offer pick-up or delivery for the bicycles that are entrusted to you.
Insurance is another expense to think about. The business you own must be covered by an insurance policy so that you can properly protect yourself when something happens. The insurance is also a requirement you need to comply in starting a store. It will be problematic without it.
Office supplies expense. The business will need to be operated with ease. To make it easier to operate the business, there are office supplies that you can use. The purchase of these office supplies can be considered as an expense for the business. Make sure that you take account of them. They have to be in the office supplies expense category.
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