Launch a startup. How much does it cost?

Before you launch your brand new business, you will need to work out how much money you will need in order to operate your startup successfully. This will increase the odds of your startup not only succeeding, but making a healthy profit.

Sounds complicated? Don’t worry; it’s not as tricky as it sounds!

Unfortunately, there doesn’t seem to be a definitive answer to this question — the numbers vary wherever you go!

If these numbers make you break into a cold sweat, there’s no need to panic. You don’t need this money upfront. It is likely to be the case that any money you make in your first year is reinvested into your startup.

Even though we can’t specify how much money you need to launch your startup. There are a few factors at play when it comes to how much capital is required.

Different startups get the capital they need to grow and evolve in a range of different ways.

The best way to determine which type of funding is right for your new business is to work out how much your startup costs will be. You can then decide whether or not you can bootstrap the business yourself, or if you will need a little extra help from an outside investor.

If you need a little extra help to work out how much money you need to launch a startup, there are some great resources to support you.

The great thing about using a calculator is that it considers everything that you need to start a business. So you don’t need to worry about agreeing your budget and then missing something important out!

You will create a more refined calculation when you work on your business plan. Your business plan will show what resources you need and how much money you intend to spend on them, as well as how you will recoup costs.

It’s always best to overestimate costs where you can and have a contingency in place.

Not only can unexpected costs appear when you least expect them, but inflation can also result in you having to spend money that you did not account for.

As well as thinking about how much your startup will cost to launch, you need to think about how you will earn money.

When you identify your budget, think about your monetisation model — or how you will make money from your startup.

There are lots of different ways your startup can earn money, from subscription models through to selling advertising.

You don’t necessarily need a lot of money to launch a startup that can hit the big time.

Here are two of our favourite stories about entrepreneurs that created well-known businesses, on a tight budget.

As a result of this hard work. Dean and Livingstone transformed Tough Mudder into a business that now turns over an incredible $100 million a year.

Sara carried out a lot of the work to promote and manufacture the brand herself. She researched patent law to write her own patent, drove to hosiery mills to get them to manufacture her product and sold Spanx on the QVC shopping network in the early morning.

The hard work paid off, as Spanx is now worth an amazing $540 million.

You Are Launched has been working alongside lean startups, accelerators and venture capital companies since 2014.

Our team of specialists has the expertise and experience needed to get your startup up and running. So, if you’re unsure how much your budget needs to be or what to focus your expenses on, we can go through this with you step-by-step.

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