Research: Conduct thorough research to understand the industry standards and typical costs associated with your business. Itemize: Create a detailed list of all potential expenses, categorizing them into initial setup, operational, marketing, technology, and contingency costs. Consult Experts: Work with financial advisors or business consultants to ensure that all potential costs are considered. Review and Revise: Regularly review and update your cost estimates as your business plan evolves and new information becomes available.