How can I estimate how much I could earn from my business?
From KNEXT
This question focuses on how much the owner can expect to earn in gross revenue. The answer will differ based on the incorporation model, payment to an individual, and other factors. Gain clarification regarding what the individual means by "earn".
Needs Assessment
Process to refine the Question:
- What do you mean by earn, do you mean how much will all your sales add up to (this is gross revenue) or do you mean how much will you have as take home or do you mean something else?
- How is this business registered? Is it a sole proprietorship, llc, corporation, or something else?
Difficulties often encountered
Resources and Next Steps:
Catalog / Guide Documents
- You can search for similar businesses of similar sizes and location on Resource:ReferenceUSA and collect earnings information. You can also draw from market analysis to estimate how much your potential customers are willing to pay. Then subtract your estimated operating costs and longer-term startup costs to estimate how much you might earn.
People and Organizations
Business Support Organizations
- U.S. Small Business Administration|SBA
- Resource:PG County Small Business Development Center (SBDC)
- Resource:Hispanic Business Center
- Resource:PG County Economic Development Corporation
- SCORE Mentor Services
