Hi Cassandra!! That's a great question!! I'll add in my two-cents :) Not in the tuition industry, but been involved in several startups. The costs depends on these factors: (A) First 2-3 years: - Annual Revenue - Less Startup Costs - Less Annual Expenses - (Plus Blood, Sweat, Anxiety, Frustration, Tears 😂) - = Profit/Loss (Assuming no Franchise Fees, costs are based mainly on my experience, some are rough estimates^) Startup Costs - ACRA & Secretarial Registration ($1600) - 2+1 Rental Deposit, ($3k 3= $9000) - Insurance ($1500^) - Renovation ($6,000^) - Furniture, Stationeries ($3000^) - Initial Advertising ($1000^) - Website ($150-3000) Ongoing Costs / Annual Expenses - Rental ($3000 12=$36,000) - Utilities ($400 12=$4,800^) - Your Allowance to Survive ($2000 12=$24,000) - Salary for Staff/Tutors - On-going Marketing ($300 12=$3,600) - Misc Expenses eg Stationery, Paper ($400 12=$4,800^) Things to consider: - Do you already have enough existing clientele to start? - Do you have good track record of proven results, testimonials? - Do you have a content system that you can explain to onboard new clients easily? - How are you providing value to your clientele that gets them to move away from their current tutors? By value, price, accessibility? - Are you willing to shift mindset to an entrepreneur, salesperson, marketer, operations, accountant and have the grit to endure and push on for the days you have no customer? It's sad to see a startup fail. But it happens 8 out of 10 times. The costs can be high - tangible, and intangible. And it can be heartbreaking to shut it down, frustrating to pay back loans if any and painful to disappoint the people and investors who support you. That's the costs that I know of :) Hope it helps and all the best!!