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New Store Cost Analysis

  • 11-04-2010 10:34pm
    #1
    MidlandsM
    Banned (with Prison Access) Posts: 5,737 ✭✭✭


    Hi,

    I'm going to pull the trigger on an idea I've had for a good while. There's a glaring opening for a particular kind of retail store in my local town. There's just 1 other in the town and so whilst i'll have competition, I know I can offer a far better service, experience, pricing and will win customers and make a living.From the financial side, I'd like some input from you guys please.Ok, so its a shop unit I've identified. Recently vacated, new but not shell and core, has carpeted floor, nice wall finish, suspended ceiling and even some nice shelving and a nice counter still left in there.
    I want to tick off all the usuals in my business plan, so please hlep me if I miss anything here -

    Stock
    Rent
    Telecoms costs
    Rates (or would they be included in the rent?)
    Heat and Lighting
    Insurance
    Fit out
    Marketing budget
    Wages (mine, sole employee:), well, to start anyways)
    I.T. requirements - good PC and Printer.
    WebCosts - going to have an additional sales channel through a website.
    No company vehicle is required.:P
    Operating Capital.

    So, have I missed anything?

    Thanks.


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,574 ✭✭✭✭Victor


    MidlandsM wrote: »
    Rates (or would they be included in the rent?)
    Not usually. You may also be required to insure the building.


  • #3
    DoMyBooks
    Registered Users, Registered Users 2 Posts: 355 ✭✭DoMyBooks


    Accountancy costs?

    Unless you've a lot of experience in that area. Get as many trusted experienced business people as you can to review your business plan. Sometimes entrepreneurs want the idea to happen so badly they have blinkers on to blindingly obvious issues.


  • #4
    MidlandsM
    Banned (with Prison Access) Posts: 5,737 ✭✭✭MidlandsM


    Victor wrote: »
    Not usually. You may also be required to insure the building.


    Yep, I got that in the mix, thanks. Wonder how much it'll cost?
    DoMyBooks wrote: »
    Accountancy costs?

    Unless you've a lot of experience in that area. Get as many trusted experienced business people as you can to review your business plan. Sometimes entrepreneurs want the idea to happen so badly they have blinkers on to blindingly obvious issues.

    Yep, I'll do my own books and yers, I'll get my plan looked over by an outside eye as you are right.

    Anything else comrades?


  • #5
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    Security?


  • #6
    MidlandsM
    Banned (with Prison Access) Posts: 5,737 ✭✭✭MidlandsM


    yeah, true, forgot about that.
    Thanks.


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  • #7
    antoinolachtnai
    Registered Users, Registered Users 2 Posts: 9,815 ✭✭✭antoinolachtnai


    I would make quite sure your prospective competitor wouldn't like to sell up and get out of the business before you spend a lot of time fitting out a new place. You would be better giving him the money than setting up your own place in competition, if it were possible.


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