The Best New Pet Care Business Cost Breakdown is called the STARTUP EXPENSE SUMMARY and it identifies each and every expense that you will incur to start and operate your new pet care business . You will need it to determine how much money you need to start the business, but you will also need it to present to the Bank or to Investors to document how you will use the funds they may give you.
To create a STARTUP EXPENSE SUMMARY for a New Pet Boarding or Dog Day Care Business, each of the items and corresponding costs are entered into a Financial Spreadsheet called the Pet Care Business STARTUP EXPENSE SUMMARY. You can create a Startup Expense Summary using a Spreadsheet Program like Microsoft Excel listing each item on a separate row and its cost on a separate column on the same row. Here’s a short example. You may have 50 or more line items in your particular startup expense summary.
| Start-up Expenses | |
| Legal | $0 |
| Architectural Design and Space Planning | $0 |
| Land | $0 |
| Consulting Fees | $0 |
| Employee Startup Training | $0 |
| Employee Certification | $0 |
| Construction Costs (see Separate Cost Breakdown) | $0 |
You should also create a formula to sum the line item expenses into an overall total., again a short example:
| Contingency (10%) | $0 |
| Working Capital | $0 |
| Total Start-up Expenses | $0 |
The STARTUP EXPENSE SUMMARY includes all costs associated with pre-opening expenses such as like legal, architectural, construction, kennel equipment, grooming equipment, office equipment, computers, employee training, furnishings, supplies, marketing materials, website design, uniforms and more, as well Working Capital, the money you need to put into the business until you reach the break even, the point where revenues equal operating expense.
Some line items such as the construction costs, kennel equipment, grooming equipment, office equipment, and other expense line items have supporting expense summaries of their own which list all the costs associated with each respective line item.
When determining your expenses make sure you don’t only include the costs of materials. Make sure you identify and include sales taxes, delivery charges, installation fees, and inventory as well as possible storage charges.
You should also include a line item called a Contingency Expense. No matter how much time and effort you put into identifying the expenses of your new business, you most certainly will either miss or add something you hadn’t thought of, so make sure you have a line item for a contingency expense. The reason you want a contingency expense is not only to account for unforeseen expenses, but also so you don’t have to go back to the bank or your investors asking for more money. If you don’t use the contingency, Great, but at least you have a buffer in case you need it.
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