By Faith Glasgow

Part of Small Business Finance All-In-One For Dummies Cheat Sheet (UK Edition)

Can your business idea leave you rolling in used tenners? Even with the most thorough of market research and the best business plan in the world, you’re not on to a winner unless your business idea can bring in the pennies. You need to establish:

  • Day-to-day operating costs

  • How long it will take to reach break even

  • How much start-up capital do you need?

  • The likely sales volume

  • The profit level required for the business not merely to survive, but also to thrive

  • The retail price of your product or service