It's very important to determine how much cash your new business will need to open and...

90.2K

Verified Solution

Question

General Management

It's very important to determine how much cash your new businesswill need to open and operate smoothly. Therefore, you must knowhow much capital you will need in order to cover all businessexpenses until you will reach the break-even point. Note that yourbusiness should have enough cash to cover all projected expensesfor at least six months.
create a list of all your projected expenditures for acar dealership. The following steps can help youget started:
First Step - List of all needed assets(equipment, furniture, fixtures, supplies, software) and peopleneeded to start and operate your business
Second Step - List startup costs for inventory,marketing, sales, permits, needed market research, licenses,certificates, initial investment, legal fees, or professionalcharges
Third Step - Compute your monthly (min. 6months) fixed expanses such as rent, insurance, utilities, phone,lease, health insurance, loan payments, taxes, Internet, shippingand other services,
Last Step - Estimate your salary, employees orhired contractors
Include a table with all projected monthly expenditures for atleast 6 months
Briefly explain your Start Up Costs items

Answer & Explanation Solved by verified expert

3.7 Ratings (659 Votes)

Cost at Step 1 Items Number required Each cost Cost Photocopier 2 Amenities ACsRefrigerators Air Purifiers etc 25000 Office Chairs 25 100 2500 Visitor Chairs Sofas 10000 Office TablesStoersCloset Various Size and Shape 5000 Multipurpose Tables 5000 Fixtures for Office Display and Lounge 25000 Stationary Initial 2000 Six month Pantry supplies For Begining 1000 software 10000 Computer 10000 Printer 3000 Water dispenser 1000 Misc inventories 2000 Total 99000 Cost step 2 See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member