Estimating startup costs is the process of estimating the amount of money required to start a new business. This process involves calculating both one-time expenses (such as start-up capital) and ongoing expenses (such as salaries). It takes into account factors such as market research, legal fees, rents, licensing fees, insurance premiums, and other potential costs that an entrepreneur may incur when starting a new business. Having an accurate estimate of startup costs can help entrepreneurs properly plan their budget and allocate resources accordingly. Knowing how much money it will cost to launch a business before getting started can help keep businesses financially healthy and on track for long-term success.