Business startup costs that shock new owners
Monday, June 2nd, 2008Learn how to head off nasty financial shocks that can derail your dreams.
The costly things nobody tells you about
1.Your business runs on a pricey commodity2.Tiniest delay at launch can cost big bucks3.Businesses pay more for phone, other services4.Minimum-use fees impact bottom line5.Too much inventory can spell disaster6.Getting goods into retail outlets isn’t all profit7.Self-employment taxes can be staggering8.Not all insurance policies cover all disasters
1. Your business runs on an expensive commodity
Fred retired to open his dream business: a personal concierge service. He operates out of his home, saving on office expenses — that’s in his favor. But the business, which offers everything from personalized grocery shopping to ferrying the kids to soccer practice, is losing money faster than a politician forgets a promise.