Going Over Ice Cream Shop Startup Costs? DoNotPay Compiles Top Info

Ice cream stores across the U.S. command a market size of six billion dollars, and the industry is expected to keep growing in the foreseeable future. Both ice cream parlors and trucks are in high demand in neighborhoods and tourist spots, but what is the initial capital requirement for such shops?

Before diving into ice cream shop startup costs, you should check out our app that helps manage several procedural tasks for businesses. Our Business Loan Request Letter product can draft watertight loan application letters and submit them in your stead. Sign up now to access our support services!

What Is the Startup Cost for an Ice Cream Shop?

The total investment in an ice cream shop mostly depends on your target scale of operations and the range of delicacies you plan to offer, but some other factors may also impact your initial outlay. This table will give you estimates for the total investment under different circumstances:

Starting an Ice Cream Shop? Note Down the One-Off Costs

We have prepared a list of cost heads you can expect when opening an ice cream shop for the first time—check them out in this table:

Revisit the Recurring Expenses for an Ice Cream Shop

While recurring expenses don’t impact your setup costs, you have to include them in your working capital budget because you won’t make a profit right away. Here’s an overview of the potential expenses for a medium-sized shop:

1. Wages—The general payment rate is $10–$14 per hour, and your expenses will vary according to your number of hires
2. Utilities—$600–$3,000
3. Supplies and storage—$2,000–5,000
4. Sanitation—$500
5. Insurance—$1,000—$2,000, insurance premiums are usually paid annually
6. Repairs, maintenance, and contingencies—$5,000 (this is also an annual estimate)

Running Out of Money? Explore Available Funding Options

Many ice cream shop owners invest their own savings or borrow funds from friends and relatives. If self-funding is not an option for you, you can consider startup loans offered by banks, credit unions, and other financial institutions.

Let’s look into the types of loans at your disposal:

1. SBA loans—The U.S. Small Business Administration links entrepreneurs to lenders and also guarantees 50–85% of loan repayment. You can also find long-term and short-term loan schemes with the SBA for special circumstances, like:
   1. Pandemic disruption
   2. Debt relief
   3. Support of minorities, like women and veterans
2. Conventional loans—For conventional loans, you need to approach various private and public lenders with your business plan. You may be offered loans on varying terms, collateral requirements, and other compliance matters. If you have bad credit, you may have to make do with high interest rates and strict repayment schedules
3. Temporary credit—If your cash requirement is small and you don’t want to go for a microloan, you can look into credit facilities offered by your bank

Get Loans Approved the Easy Way—DoNotPay Can Shift the Tide in Your Favor!

If you look into the way loans work, the process of application, scrutiny, and approval are both exhausting and time-consuming. To ensure your loans get sanctioned real quick, you need to:

• Have rock-solid credit scores
• Submit transparent financial statements
• Present your business idea with a well-written loan request letter

DoNotPay understands this taxing act all too well, and this is why we have prepared a product that takes the burden off your shoulders. Our Business Loan Request Letter and Find Online Business Loan Lender products streamline the process by using your credit scores and business details to draft a robust loan application letter.

To use our services, do this:

1. Open DoNotPay and select Business Loan Request Letter (or Find Online Business Loan Lender if you want to look for online lenders)
2. Tell us your loan requirements—the amount needed, your choice of lender, etc.
3. Enter information about your business
4. Upload your financial documents

Once we get your documents, we will review your responses and etch out a fitting loan request letter that outlines all important information in the standard formal tone. We will then attach the submitted documents and send the application to the lender specified by you. With a top-notch presentation of essential details, your loan request will get the attention it needs!

More Problems? We Offer More Solutions

Running a business also calls for various registration processes. Our app can show you the ropes on the following:

• Trademark registration
• Employer Identification Number (EIN) registration
• Privacy Shield program self-certification
• DMCA agent registration

Do your employees need to submit 83(b) election forms to the IRS? We can help you:

• Generate them
• Distribute them
• File them automatically

No Need To Tighten Your Belt With DoNotPay by Your Side

Handling finances in business can be a burden. There are many unforeseen costs, fees, and even fines. This is where the world’s first robot lawyer swoops in!

Take a look at which DoNotPay’s products can manage your issues:

All the above-mentioned instances can make you lose money. Luckily, you can rely on our app to nip the issue in the bud.

We can also help you save money by providing you with free faxing and mailing services. No need to waste time or money on post office visits or fax machine purchases.