How do I determine start-up costs?

The answer is very simple - you go to the source.

For example, you need the price of land. Identify commercial real estate brokers in the area targeted for the parking lots. Tell them you are interested in identifying land for a parking lot in a specific area. Tell them how much land you need and the request the cost. Don't forget all costs associated with the broker's fee, surveys, real estate taxes, tax stamps and any other costs associated with the closing. Likewise, you need to be concerned with any issues associated with the zoning of the property. You can't build a commercial parking lot in a lot zoned "residential".

Another example is related to the insurance. You need a commercial insurance agent. You need to be concerned with liability and don't forget insurance for your employees.

For construction, you need a developer to take the time and give you projected costs to construct. If none of you is an artist, then find someone at the university who can do some renderings for you. At least the developer will have an idea of what materials would be involved.

You will also want to find an architecture student who can draft some plans for you.

You want the price on furniture and equipment? Go to an office supply outlet for quotes on those things.

Again, you need to go to the source for all your costs. Oh, and don't forget to do all your renderings and plans before approaching the developer.

Steve Windhaus