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You should conduct secondary and primary research to determine the costs associated with startup.
Disclose the personal net worth, assets, obligations, outside investments, and sources of income of each individual.
This information can be rather personal, but it serves multiple purposes.
Primary research includes contacting providers of venders of the necessary assets/services.
Overestimating the stated costs will give you some room for accommodating unforeseen costs.
This initial amount of capital generally comes from personal assets of the owner(s), family members, or friends.
It may be the case that the owners use person debt, such as credit cards, home loans, etc., to fund the startup.
Below we go through multiple sections of the business plan that meet the above purposes.
Note: Depending on the use of the business plan, it may be advisable to remove certain sections for a specific purpose.
For this reason, I recommend that you invest considerable time in mapping out the potential startup costs.
When preparing a the list of startup expenses, it is best to overestimate the amount.