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Start Up Costs for Own Shop?
- Thread starter TraderNYC
- Start date
Quote from TraderNYC:
I am very interested in learning other peoples experiences with starting their own shop or even trading team. Costs? Leasing Equipment? Space? ....Any info would be helpful. Thank You!
...Unless you are taking other peoples money and have a need to impress people for sales work my advice is to locate where the cost of doing business is low. There are many locations with high speed telecommunications infrastructure that are in second tier cities with much lower costs of business than NYC, Chicago, Los Angeles etc.
Quote from TraderNYC:
I am very interested in learning other peoples experiences with starting their own shop or even trading team. Costs? Leasing Equipment? Space? ....Any info would be helpful. Thank You!
Office space is where the first mistake is usually made....start small with the ability to expand....space is cheap right now so it shouldn't be hard...also, you will need at least 1 t1 line and possibly a back up vpn/cable....only use a software that is also a service bureau...this way you can put in say 8 computers ( say a grand each) and connect strait to the t1...MAKE sure the space is rigged for a T1 already...don't buy this crap of " we can get one out there in three weeks...it never happens that quick...bus also make sure the outlets and the internet connections on the wall are already set up with the t1 capabilities or you will ave to do that too.....you should be able to get the office running for 20-25k when you throw in some desks and chairs...but im telling you , connectivity is often the most expensive and time consuming aspect...
Quote from TraderNYC:
Thanks You TM...! Big help...I am in the early stages of research...obviously! What about elasing equipment...(computers, desks,etc.....)
I would get an accountant and look at the tax benefits of lease vs own...but computers are so cheap now, its' probably easier to buy in bulk...you will need dual monitors so when i say a grab for each computer that should include 2 monitors....another thing you might want to consider is running some classified WANTED ads here...there are a lot of branches and firms that are unloading some older equipment...i wouldn't use any CPU that was over a year and half old, but monitors should be no problem...also servers and routers can often time be bought still in the box