The Cost of Success.docx The Cost of Success MGT/401 The Cost of Success When openi

The Cost of Success.docx  The Cost of Success  MGT/401    The Cost of Success  When opening a business, I think everyone can agree on what the biggest problem is. That problem would be financing. Financing your business is the biggest hurdle to jump over and can be a pain. Unfortunately, with the business I chose I can™t get funding from any local banks since it is still illegal on a federal level. There are, however, places that are not banks and offer small business loans. This is more than likely the route our business will take. The location of our business will be on land that we own so we won™t have to worry about rent or a lease. We have estimated that the overall startup cost will be around $45,000. This total includes the utilities for the first year for our business to give us time to build our finances.   Since the location of our business is on the same property as our house it saves us tremendously on cost. The estimation for the utilities for a year came out to a rough estimate of $8,160. As of right now, we have decided that other than reinforced locks on our building the only security we will have is a camera and alarm system. We estimated the cost of that around $600. We want to save as much money as we can for expenses that vary from month to month.  Expenses that we expect to vary from month to month would be the cost of transportation, the cost of nutrients, and the costs of packaging materials. The way we figure out the costs for our nutrients is by how many lights we will have.