I can tell you that to get incorporated will probably cost you at least $1000 depending on what kind of corporation you're looking to create. Insurance will probably run you a couple of thousand a year (based on a ballpark number given to me by my agent with respect to "libel protection" insurance").
You forgot to include an accounting package that you will need to manage your finances. Without one you'll be cutting checks by hand, which gives an amateurish appearance.
Depending on your network, you are going to want to have a good amount of money in the bank in case things don't go as planned. You could probably get everything together for around $2000 plus your reserved money.
And I was just curious to know Ralph Slate what is an accounting package include?
And about how much does one go for?
And to anyone who reads this with an opinion. Would you think $12,000.00 altogether is enough to make a legit network, until profits start rolling in
(Just your opinion, I know there is no true way to tell)
I think $12,000 should be enough to start the network and maintain operations for a couple months until you get built up. That is as long as you run the show yourself and don't have any employees, etc.
I think you need something that will keep your books -- how much cash you have on hand, how much you've paid to each person, how much is owed to your vendors, how much your creditors owe you, etc.
It will prevent you from sending out bad checks because it will balance your checkbook for you.
A simple program is Quickbooks or Peachtree. I'm sure there are more elaborate packages out there too.
are cordially welcomed....
Thank you, Regards.
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