Cost of opening manufacturing building?

[Davidl]

besides cost of lease, machines and the hourly wage what else is a cost?

things like insurance and 401k/pension plan what other costs are necessary at minimum to run a manufacturing building (less than 10 people)?

What permits and testing needs to be done?

[Freelancier]

Environmental recovery costs may apply. Local taxes on inventory and tangible property. Health insurance, maybe (with only 10 people, you'll want a way to retain your people, because losing one is losing 10%+ of the people). Build-out costs for the space. Permits as necessary.

[Harold Mansfield]

besides cost of lease, machines and the hourly wage what else is a cost?

things like insurance and 401k/pension plan what other costs are necessary at minimum to run a manufacturing building (less than 10 people)?

What permits and testing needs to be done?

I'm sure there are some federal things that apply, but I'm positive that the meat and potato differences of permits and testing are going to be state by state.

[Fulcrum]

things like insurance and 401k/pension plan what other costs are necessary at minimum to run a manufacturing building (less than 10 people)?

What permits and testing needs to be done?

We don't have to worry about a 401K as we have CPP. I believe it's 2.9% off the employees pay and is matched by you the employer. This also applies to you as the owner and you will be on the hook for the full 5.8% (I found out the hard way). Once our liberal provincial government railroads through their version of CPP, everyone will be on the hook for another 1.9% in deductions and 3.8% for your wages.

There is also EI (employment insurance). You will need to call WSIB and have them setup an account and they will tell you how much your rate will be (mine is $3 per $100).

As for permits and testing, you need to speak with your local planning office. They will let you know about zoning and permits as well as what testing may, or may not, need to be done. Be careful with what you say when speaking with them, as a few incorrect words may result in higher costs for you.

[Davidl]

This was what I was after thanks.

[Owen]

This was what I was after thanks.

Maybe you should think about an accountant or someone who can really tell you...

[Fulcrum]

There is a need of big amount for the opening of manufacturing building.Its a big project and on big level you can and also on big level you can earn from it.My uncle also have the same business.

Not necessarily. Many manufacturers started off in a garage or drive shed with repo equipment purchased at auction (anybody serving the oil fields may get some steals in the next 6-12 months). As long as a business owner isn't scared of a used piece of equipment, and the required maintenance that comes with getting it up and running, he can start with minimal debt and preserve that precarious cash flow all start ups have.