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.

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