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Finance - Coggle Diagram
Finance
Start up costs- Cost for the start and the opening of the business.
Rent deposit - £42,500 per annum (deposit = 6 months' rent = 21,250) plus VA
Marketing costs (market research/advertising)
Insurance
Equipment
Starting stock
Interior- Decor/ Furniture etc
Singage
Legal/ Licensing fees
Fixed costs- costs that will be considered for the whole of the time the business is running.
Rent - £42,500 per year plus VAT
Utility bills such as water, gas and electricity. The average gas bill for a small business = £1,960 per year and the average electricity bill for a small business = £5,891 per year (Millet,2023).
Salaries
Marketing (should be 10-15% of revenue)
Depreciation (of equipment)
Licensing
Variable costs- costs that will change and alter depending on the business.
The cost of goods sold (stock)
Wages, dependent on part-time staff and people on zero-hour contracts.