Structural engineering start-up costs

Hello everyone,

I am new here and I really need the opinion of people specialized in the field, for a research that I'm doing.
I have created a survey, but opinions posted here are much appreciated as well.
My questions are, what are the start-up costs for a structural engineering consulting firm? 20k,40k,60k or more?
How would you allocate the investment percentage wise, for rent, salaries, equipment, and marketing ?

Below is the survey, I am really looking forward to read your opinions, have a great day!

Albana

https://www.surveymonkey.com/s/3P6G7BG

Albana, this depends on soooo many factors.

Are you asking engineers here what they think it might cost to start their own firms, or are you asking existing/past owners what their start-up costs are?

If the latter, you might want to revise your question to something like "If you started your own consulting firm, what was your start-up costs".

Just my two cents. I am curious about what other people think and what kind of research you are doing though.

Hello SEHQ,

Thank you for your response.

Well it's both, I would be very happy to read assumptions from engineers working in the field, and of course it would be very valuable to hear the story of those who have been through this.

I am doing this research for a client that is looking to set up a similar business.

Like they say at fancy restaurants, if you have to ask, you can't afford it. Anyone thinking they want to go it alone should probably know what is needed. I, on the other hand, enjoy working for someone else that has to worry about those things.

I would think the physical startup costs are pretty low compared to many other businesses, but you have to consider the time it will take to get work. You'll have all the necessities like office space, hardware, software, etc. Do you need a staff?

But if you don't have enough money to support yourself by just marketing and chasing work for at least a year, you won't make it. It's easier if you have contacts that will follow you wherever you go, but starting cold would have to cost a lot just keeping yourself above water until you find a client base.

Just my two cents.

Office Space (if you aren't working out of your home)

insurance

hardware

software

Marketing material

Money to cover you until you get paid (at least 6 months worth)

Thank you for your opinions, they are much appreciated!