Starting my own small business? I have a project to do for my Interior Design Business
I have a project to do for my Interior Design Business Practices class, and I call for to know some of the average costs for differnt part of "my own business". I am have trouble finding them online.I have a 3000 sq. foot building and I want to know monthly averages for: Utilities like: Electric, Water, Trash pick up, Telephone and Fax. Promotional Materials resembling: Letterhead, business cards, mailing brochures, Advertising. Supplies approaching: pens, quality newspaper, drafting supplies and postage. Salaries like: Mine, Partners, Manager, Sales associates and a receptionist, Insurance for myself and staff. Finally, other expenses close to: Property taxes and Insurance.
Answer:
Look in the classified of your local quality newspaper for rent.
Visit a store for paper supplies.
Call the utilities contained by your area for other costs.
(You didn't reflect we'd do your assignment for you, did you?)
Honey, that's a huge question. There isn't one source that will dispense you all that info. I will offer you estimates based on a few clients I enjoy and on the prices we charge our clients.
Utilities - approx $1200, that includes the basics if you run your business 6 days a week and own 6 phone lines.
Rent - this will depend on if the space is open/warehouse style or an actual office. You will be looking at between $18 and $30 per sq. foot / per year. (price per sq ft by 3000, divide the total by 12.)
Insurance - particularly hard to guess or estimate as in that are so many things that contribute to your rate it is best to appointment a broker and get an estimate. But it could be give or take a few $150 a month
Promo Materials - the number of staff you have, the number of things you dispatch out etc. This can vary sooooo much. Ads are expensive depending on where on earth you put them. If you budget $500 a month that could be too much or too little. I spend $700 and I am never without business.
Office Supplies - we use give or take a few $250 per month in supplies
Salaries - assume you enjoy 4 employees plus yourself, you will be looking at $6400 (4 x 1600) a month for staff and $2500 a month for you. This is tremendously basic and bottom termination in your industry. You could stir as high as $10, 000 for staff and $5000 for you.
You will not own your own building so within will be no property taxes and the insurance I listed above is undeveloped content and liability insurance which is all you requirement.
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