How Much Does It Cost To Start A Food Business – More people are thinking about starting a business than ever before. In fact, almost 5.4 million businesses were established in 2021, so how much does it cost to start a business?
The answer is different for every business, but many small business owners spend less than $5,000 on operating costs. We’ve talked to tons of small business owners about how to start a business and we’re going to share what we’ve learned from them.
How Much Does It Cost To Start A Food Business
We will divide the start-up costs of the business into upfront costs, one-time costs and recurring expenses for each type of business. Let’s look at how we categorized each type of cost.
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Fixed costs are business costs that do not change as sales increase. The following items are common operating costs that are fixed costs:
As time goes on, some businesses may find that some fixed costs only remain constant up to a certain volume. After that, they may see a drastic increase to add more volume and then it becomes a fixed cost again. Adding a second service truck is one of the typical costs that work this way.
There are business costs that vary depending on the volume the business does. These operating costs are called variable costs. Common operating costs in this category include:
Now that you know the costs we will analyze, let’s look at the average business startup costs.
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According to the Small Business Administration, one in four businesses start with less than $5,000, and more than half of small businesses have start-up costs of less than $25,000. But the median is just over $24,000, and the weighted average would be between $72,000 and $276,000.
Online businesses are usually among the lowest costs to start. You can start most of them for less than $1,000 without any tuition fees. They require a computer, internet, business licensing and certain software. Businesses in this category may include:
When people ask “How much does it cost to start a business on the Internet?” The search results will usually provide answers about e-commerce stores. We will discuss them later.
Shirt companies are pretty easy to start. For example, you can start with a $30 Shopify, some design software, and a print-on-demand provider. If you really want to make money on it, you need to be good at SEO and marketing, which will increase your costs.
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We interviewed a number of business owners who started gardening companies. This is one of the easiest types of businesses to open. You can even start a business for just $300.
The table below shows the breakdown of business expenses that a small business owner should expect when opening a gardening business.
Watch our latest YouTube video featuring a small business owner who started Plan-It Vision with just $300:
An eyelash business is one of the most commonly searched small businesses. To get started, you may need to go to cosmetology school. Many states require school, but some do not. If you haven’t attended cosmetology school yet, starting a small business will cost more than $20,000.
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Most small lash businesses operate as a combination of brick and mortar businesses and drive to their customer’s location. We’ve provided you with estimates of how much to expect operating expenses to cost based on the assumption that you haven’t attended cosmetology school yet.
Subtract $20,000 from each of these numbers if you already went to school. I’ve included legal fees and insurance costs in the low-cost startup funding because you don’t want your new business to incur a large fine for illegal activity.
Great cleaning business for startups. You can even start your own business for as little as $300 if you just buy the cleaning supplies. Almost all costs are variable expenses.
However, you should get the business license and insurance as soon as possible if you decide to get them after starting work. The ultra-low-cost way assumes that you rent any equipment after ordering a job that requires equipment.
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Check out our interview with Christopher Mondergon below or sign up for our Cleaning Business course that covers pricing, business credit, Chris Marketing Scripts and automation templates:
Many people enjoy doing arts and crafts such as jewelry making. You can start a business from this fun hobby for less than $100 and build your business as you grow. Pre-made finds are usually more cost-effective, but creativity is often the joy of this type of business owner, so you may want to make your own.
If you are trying to make gold and silver jewelry, you can expect the cost to be much higher. An ounce of gold fluctuates depending on market conditions, but has been between $1,000 and $2,000 over the past 15 years. It will only make about five to 16 rings, and you still need to have the tools to melt it.
The answer to this is not very clear. If you want to buy storage units that sell people’s stuff to recoup costs, you should plan to bring at least $500 to the auction. After that, hopefully you’ll find a gem and get your investment back.
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You might be able to start a food truck for as low as $10k, but I would expect to spend more like $20k to get started. You’ll likely need around $156,000 to get through the first year and about $670,000 to get through the first five years.
Check out our video below to find out how Syed Smile earns more than $600,000 a year with his food truck:
The cost of starting a dropshipping business can vary dramatically as you may need to design a product and purchase inventory. If you use print-on-demand with dropshipping, it’s often quite cheap.
Expect to invest at least $80 to get started, but if you find materials and manufacture, it can be more than $30,000 to make your products. Over the course of a year, you may spend up to $180,000.
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You can start a candle business for less than $200. The materials and a Shopify account are all you need to get started. The numbers below are from our interview with Jazmin who founded the company in 2020 and earns more than $150k a year.
A towing business can be started for less than $10,000. It has special licensing requirements that increase the cost and most people don’t have a tow truck. You can usually make around $100,000 per truck – if you do it right.
You should expect to spend $5,000+ to start a painting business because you will need a contractor’s license in most states to start a painting business. The contractors’ licenses have financial requirements that make them more expensive. States may require:
You can start a cell detailing business for as little as $300, but you should probably expect the annual costs to approach $53K to really grow. This includes licensing, insurance, a car, upgrading your website and spending $2K a month on marketing. Check out the breakdown below:
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A trucking business will typically cost around $10,000 to start in-state or $20,000 for interstate operations, but you can expect to spend $100,000 to $250,000 a year to run a trucking business.
Make sure the truck you buy is less than 10 years old as most companies require a newer vehicle when hiring you to transport their products.
Taxis are a dying business in most places. The business structure is outdated. You have to register with your city’s transit authority, hire a delivery and buy a bunch of taxis. We have provided an estimate to start with five cabs operating 24 hours a day.
If you already have a car, you can start driving for Uber or Lyft. All you have to do is obtain a business license, pass a background check and perform a recent vehicle inspection. You can run a successful business quite easily. Startup costs for this type of business are around $300.
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Setting up a laundry can cost almost a million dollars to start and double that in the first five years. The building, equipment and services are the majority of the cost.
You can start a photography business for as little as $500, which includes the price of a camera, a website, an online photo gallery, and the Adobe Photography Suite.
If you want to upgrade to a higher level business with better equipment and a good marketing budget, you should expect to spend around $45,000 in the first year. It’s even higher if you want a good studio, though.
Most places require remodelers to be licensed contractors, so you can start as low as $2,750 without running afoul of the law, but you can expect to spend around $40,000 within the first year if you really want to do it right.
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Soap businesses are fairly inexpensive to start. You can start making soap for less than $100 and build from there. Successful business owners will spend almost $70,000 in the first year of their business to make about $200,000. Check out the TruIC blog for the steps to starting a soap business.
Now that you know the associated costs
