 Hey, what's going on? So in today's video, I want to answer a question that I've seen a lot, especially recently coaches have been emailing me this and I knew that I needed to come and make a video here to show you everything from A to Z and the question is hey, Ben how much does it cost to start my business and this is a very loaded question because If you talk to someone else that started their business, they might give you completely different information But I'm going to tell you exactly How much it cost for me? So you know exactly you know exactly to the number Exactly how much I spent so if you want to take a pen piece of paper out I will be going through the list of charges that I initially had I'm not talking about that the Expenses I take on now But at the very beginning, this is what I was number one I had to pay for insurance That is something that typically is a yearly cost. So you're paying for liability insurance That right there is a non-negotiable thing. I talk about it in my book. I talk about exactly which one to get It's very laid out there And some coaches who buy my book and they skip over that part and Maybe someone gets hurt in one of their sessions and they get sued they come back to me and try to tell me that I didn't say anything But it's in the book So go check out the startup Sports Academy book. I gave you the exact resource. I used and the one that I still use now so With insurance it's gonna cost around Also depends on where you live. I live in Texas. It's gonna be around $350 a year which is very affordable that that is not that much money That is going to be your number one big biggest expense is the insurance number two You are probably gonna need to have equipment or you can be very scrappy like how I was the beginning I had all the kids that I trained bring their own soccer ball I didn't really have enough money to go buy a bunch of stuff. So I was scrappy I had everyone bring their own soccer ball and then once I started to get more money I reinvested that money back into my business and I went to go buy soccer balls and stuff like that. I Just go to Amazon Normally, that's you can buy things for very cheap there and when I did do that I didn't spend I don't think I spent more than a hundred or hundred fifty dollars And I got a bunch of cones and a bunch of soccer balls. Okay, so remember I kept my budget very low I wasn't out buying t-shirts buying websites buying logos I'm not doing any of that bullcrap and I know so many coaches at the beginning They think that they have to have that and they start losing a lot of money And then they get discouraged because they don't have clients at the beginning of your business The number number one most important thing is if you have your insurance Okay, you have that down you have equipment you have a place to train at The focus should be getting clients not having all these bright shiny objects that other people talk about or other people Think that you should have that's that's not that's not the right thing to do and that's coming for me I've been doing this for ten years. I know so many coaches who have gone against my advice on that They've spent thousands of dollars on a website when they could just like do it for a hundred dollars a month or way cheaper than that Okay, so again recap insurance need to have that Equipment need to have that outside of that if you're paying for like a rental space I would negotiate that cost I would try to get that down to as low as possible or I would find a public park I've been running all of my training sessions out of two places a public park and a high school. I have yet To pay for it like when I'm training kids privately yet to pay for any Rental space since I've started Obviously when I've done camps and clinics indoor I have done that right, but the bulk of my business I've been able to do from local parks And just a high school that's around the area where I live at and if you follow me on Instagram You can see those places that I'm talking about because like I'm always there constantly there and I know that With that being said you can save a lot of money if you're resourceful if you're not resourceful if you just Go rent out some indoors place and it's really expensive. It's gonna be too difficult to to run your business that way Okay, now with that being said If there's any other expenses that you're taking on at the very beginning You're fooling yourself Because I can't think of anything else that you need to be doing that you have to pay for All right, I mean obviously you've set up your business You've had the the cost of setting up your business you went to the bank Those are all things I talked about in the book, but you can also do that for very for In some cases under $20 So that's it guys. This is a very blunt video I know that this is something a lot of coaches need to hear because I see too many people Like I'm in the soccer industry I see I saw coach the other day at the place I train at he just started his business He has a bunch of goals and all this stuff. He spent probably over three grand just buying all this stuff He doesn't have any clients What's the point of that? Don't need to be doing that. It's better to be scrappy at the beginning and then build from there Like I didn't even get a t-shirt for for my training business until like like three or four years after I already had trained like hundreds of players And even with that that was something That I didn't even buy all the t-shirts for my players I had them that was something that they were gonna have to buy if they wanted them Okay, so you got to be scrappy at the beginning You do not want to be wasteful I see too many business owners out there that are within sports that are wasting money at the beginning And if you need any more help with that if you need The book that I've talked about if you want to go check that out if you want to download it Let me know shoot me a comment and the comment section here on YouTube I'd love to chat with you there. I'll shoot you over the resource for our book And that would be a great way to get started with your business. All right. I'll talk to you soon