Can You Make Money through Starting a Business?

By Colin Barrow

Part of Starting a Business Cheat Sheet (UK Edition)

Having fun is great, even essential if you’re going to weather the inevitable storms that every business faces at some time or another. But fun can easily turn sour unless you make a profit. Can your business idea leave you rolling in used tenners? To check that out, you need to establish

  • Day-to-day operating costs

  • How long it will take to reach breakeven

  • How much start-up capital 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