General Startup Costs!

Without being a member of Embir LLC, you'll be looking a the costs below.

1. Business Formation and Legal Fees

• Business Registration: Costs to register your business (LLC, corporation, etc.) range from $50 to $500 depending on your state and structure.

• Permits and Licenses: Depending on your industry, you may need local, state, or federal permits, which can range from $50 to $400.

• Legal Fees: Hiring an attorney to set up contracts, intellectual property protection, or other legal documents typically costs $500 to $2,000.

2. Business Planning Costs

• Market Research: Conducting thorough market research to understand your industry, competitors, and target audience. This can be done through consultants or DIY using software. Costs range from $500 to $3,000 depending on the depth of research.

• Business Plan Design: Hiring a professional to help design or write a comprehensive business plan, including financial projections, marketing strategy, and operational plan. Costs typically range from $1,000 to $5,000 depending on the complexity and the expertise of the planner.

• Feasibility Study: If required, a feasibility study to assess the viability of your business idea could add another $500 to $2,000.

3. Office or Workspace Setup

• Rent or Lease Deposit: You may need to pay the first month’s rent and a security deposit. Initial costs can range from $1,000 to $5,000, depending on the location and type of space.

• Home Office Setup (if applicable): If you're running a home-based business, consider the cost of office furniture, internet upgrades, and utilities, which may total $500 to $2,000.

4. Equipment and Supplies

• Office Equipment: Computers, printers, phones, desks, and chairs. A basic setup may cost $1,000 to $3,000.

• Industry-Specific Equipment: Costs will vary depending on the business (e.g., $2,000 for a restaurant kitchen or $500 for a small photography studio).

5. Marketing and Branding

• Logo and Branding: Hiring a professional designer to create a logo and branding materials typically costs $300 to $2,000.

• Website Development: Includes domain registration ($10–$20), hosting ($50–$100/year), and professional design services, which may cost $500 to $5,000.

• Initial Marketing Campaign: Digital advertising, social media promotions, or printed materials (flyers, business cards) could range from $500 to $2,000.

6. Inventory (for Product-Based Businesses)

• Initial Stock: The cost to purchase your first batch of products or raw materials to sell. This could be anywhere from $500 for a small e-commerce store to $10,000 or more for larger-scale product businesses.

7. Professional Services

• Accounting and Bookkeeping: Setting up accounting software like QuickBooks ($25–$50/month) or hiring an accountant ($300 to $1,000 initially).

• Consulting or Mentoring: Business consultants can charge between $100 and $500 per hour for startup advice.

8. Insurance

• General Liability Insurance: Protects against lawsuits and damages, typically $400 to $1,500 annually, but you may need to pay upfront or at least the first month.

9. Initial Operating Capital

• Working Capital: Funds needed to cover daily operations for the first few months, such as rent, utilities, and payroll. You might need $5,000 to $20,000 depending on your business type and cash flow expectations.

10. Licensing and Certifications

• Industry-Specific Licenses: Certain industries require certifications or special permits, which can cost anywhere from $100 to $1,000 depending on the business.

11. Software and Technology

• Software Subscriptions: These could include customer relationship management (CRM) tools, email marketing software, and design software (typically $100–$500 annually for basic tools).

• Point of Sale (POS) Systems: Retail or service businesses may need a POS system, which could cost $300 to $1,200 for initial setup.

Example Breakdown for a Basic Service-Based Business (e.g., Consulting or Freelance):

• Business Registration and Legal Fees: $200–$1,000

• Business Planning Costs (Research and Plan Design): $1,500–$5,000

• Home Office Setup: $500–$1,500

• Marketing and Branding: $500–$2,000

• Website Development: $500–$1,500

• Professional Services: $300–$1,000

• Software Subscriptions: $100–$300

Estimated total initial startup costs: $2,100 to $7,300

Example Breakdown for a Product-Based Business (e.g., E-Commerce):

• Business Registration and Legal Fees: $200–$1,000

• Business Planning Costs (Research and Plan Design): $1,500–$5,000

• Inventory Purchase: $2,000–$10,000

• Website Development: $500–$2,500

• Marketing Campaign: $500–$1,500

• Insurance: $400–$1,000

• Initial Working Capital: $3,000–$10,000

Estimated total initial startup costs: $6,600 to $25,000

1. Legal and Registration Research

• Time Saved: 5–10 hours

• Money Saved: Embir will handle all the research, but clients cover the actual legal fees.

• Estimated Savings: Time savings only.

2. Business Planning (Market Research and Plan Design)

• Time Saved: 20–40 hours

• Money Saved: Market research and plan design costs (normally $1,500–$5,000).

• Cost from Embir: $50/month for 12 months or $500 for the year (upfront).

• Estimated Savings: $1,000–$4,500 (depending on the plan design complexity).

3. Office/Workspace Setup

• Time Saved: None (client handles setup).

• Money Saved: None (client covers costs).

4. Equipment and Supplies

• Time Saved: 3–5 hours (Embir provides a curated list).

• Money Saved: Time savings only, clients still cover equipment costs.

5. Marketing and Branding

• Time Saved: 10–15 hours (logo design, website/social media creation).

• Money Saved: Embir covers the cost of the first logo and branding (normally $300–$2,000). Embir also provides website creation for $200 (normally $500–$5,000), and the client pays for domain, hosting, and marketing campaigns.

• Estimated Savings: $300–$3,000.

6. Inventory and Vendor Lists

• Time Saved: 5–10 hours (Embir provides a basic list).

• Money Saved: Time savings only, clients still cover inventory costs.

7. Accounting and Consulting

• Time Saved: 5–10 hours (consulting and setup guidance from Embir).

• Money Saved: Embir covers the consulting cost (normally $100–$500/hour), clients still cover accounting software like QuickBooks.

• Estimated Savings: $500–$2,500.

8. Insurance

• Time Saved: 5–8 hours (Embir assists with insurance company selection and provides a meeting checklist).

• Money Saved: Time savings only, clients still cover insurance costs.

9. Working Capital and Fundraising

• Time Saved: 10–15 hours (Embir helps with donation campaign creation).

• Money Saved: Potential for full coverage of working capital and startup costs through fundraising.

• Estimated Savings: Dependent on fundraising success, could cover part or all startup costs (up to $20,000+).

10. Licensing and Certifications

• Time Saved: 5–8 hours (Embir researches needed licenses and certifications).

• Money Saved: Time savings only, clients still cover license and certification fees.

11. Technology and Software

• Time Saved: 5–10 hours (Embir researches necessary tech/software).

• Money Saved: Time savings only, clients cover software and tech costs.

Total Estimated Time Savings: 73–121 hours

Total Estimated Money Savings: $2,300 to $10,500+ (Depending on planning complexity and fundraising success)

Embir LLC significantly reduces time spent on research, planning, branding, and consulting while offering substantial cost savings in planning, logo design, website creation, and potential fundraising for working capital.