Components of a Business Plan
List of Items a Business May Need to Purchase
Setup
- Business license
- Registration for name, etc.
- Domain name registration
- Initial product inventory
- Signage
- All the little things like curtains/blinds, decorations, microwave for staff room, etc.
- All the things need to run the business from day #1 (like cutlery, plates, cooking pots, table
settings etc. for restaurants ... like towels, soap, etc. for gyms ... like equipment and so on for
manufacturing and service places)
- Set up and testing of new facilities – new factories and offices do not operate at peak efficiency
for some time after startup because it takes time for the new systems to kick into high gear
- Professional services needed
- Lawyer fees to make sure agreements are solid
- Graphic designer or design company needed to develop visuals
- Accounting firm needed to set up initial systems
- Insurance – maybe not a direct cost to this one to account for
Office
- Accounting system software
- Computer, printer, other things needed like scanner
- Office furniture
- Initial office supplies – paper, pens, etc.
- Telephones
- Internet / wifi
- Microwave and coffee maker and similar supplies for staff room or coffee room
- Bank fees – business banking is normally not free – might also need to have business cheques
Customer Interaction
- Cash register
- Loyalty cards / system
Production/operations
- Safety equipment (fire extinguishers, AED)
- First aid
- Security systems
- Equipment maintenance
- Janitorial – and cleaning supplies
- Bathroom supplies – toilet paper, soap, towels
- Membership costs for various associations, including Chamber of Commerce, any professional
associations for the relevant industry, etc.
- Subscriptions for things like important trade publications, etc.
- Shelving and storage systems
- Even when not full restaurant, but operations like coffee shops – still require equipment like dishwasher
Training
- Safety – prior to start-up and ongoing and for new employees
Hiring
- Ads, travel expenses – flights, hotels, taxi rides, meal allowances, etc. – to recruit people through interviews, meeting meals, set up with real estate agents, etc.
Promotions
- Website development (complex for e-commerce some capability for email exchanges, leaving
comments, etc. ? simple for static information delivery)
- Costs for setting up and managing social media (can take a lot of an employee's time)
- Grand opening costs
Property
- If buy then include property taxes and all utilities in cash flows and income statement and include
building maintenance and maybe build up a reserve fund to pay for things like future roof repairs
and needed renovations and upgrades
- If rent/lease, then include rental/least cost and whatever utilities are not included in rental/lease payment
Renovations
- Construction
- Plumbing
- Electrical
- Utility hookups
- Inspections
- Shelving
- Interior signage
- Fencing, parking lot, exterior lighting, other exterior things
Risk Management
- Insurance (lots of types – need to choose the types needed)
- Training costs
- Things like snow removal, deicing sidewalks, etc.