Business Plan Summary Template Page 11
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15Business Plan Summary
Business Outreach Center Network
Financial Plan:
Because the costs of starting a business are often underestimated, new entrepreneurs should consider
completing, at a minimum, a few basic pro forma financial statements even before they attempt to
estimate how much money they will need. In addition to a personal financial statement such as the one
illustrated above, try preparing the following estimates for initial setup and projected monthly costs.
Initial Setup Costs:
Use the following worksheet to prepare an itemized estimate of how much it will cost to get your business
set up. These will all be pre-opening expenses.
Schedule A: Initial Setup Costs
Advertising
$
Promotion for opening the business
Beginning inventory
$
The amount of inventory needed to open
Building construction
$
The amount per contractor bid and other
Cash
$
Requirements for the cash register
Decorating
$
Estimate based on bid if appropriate
Deposits
$
Check with the utility companies
Fixtures and equipment
$
Use actual bid on all F and E
Installing fixtures and
$
Use actual bids
equipment
Insurance
$
Bid from insurance agent
Lease payment
$
Bid from real estate agent
Licenses and permits
$
Check with city or state offices
Miscellaneous
$
All other
Professional fees
$
Include CPA, attorney, engineer, etc.
Remodeling
$
The amount per contractor bid
Rent, equipment
$
Amount to be paid before opening
Services
$
Cleaning, accounting, etc.
Signs
$
The amount per contractor bid
Supplies
$
Office, cleaning, etc. supplies
Unanticipated expenses
$
Amount for unexpected costs (10
percent of total)
Other
$
Other
$
Other
$
Total Setup Dollars Needed
$
Total Schedule A (Pre-Opening Costs)
Page 11 of 15
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