Estimating Expenses for a New Location

Estimating Expenses for a New Location

Businesses often massively underestimate the costs of a new location. Once they’ve made the major investment to open the location, they find out it’s much less profitable than they thought. Is there a way to better project expenses for a new location? In this video, I’ll:

 - Identify sources of information for new locations (some of which are free and available to the public)

 - Explain how to project complex staffing costs

 - Recommend how to reflect expenses of the new location and the cost impacts on the rest of the company.

 - Point out both direct and indirect marketing costs that need to be modeled

 - Reveal the one major expense line item that every new location projection needs that’s often forgotten

This video comes from my Analyzing Whether to Add New Locations.

CPAs: Want to get CPE credit for videos and courses like this? Check out my CPE page.

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