Free template · Hardware budget

Hardware budget template: every cost from idea to first production run

Most hardware budgets fail on the lines nobody wrote down, not the ones they did. This template lists every cost from feasibility to the first production run, with the typical ranges from our cost guide, so you can put your own quotes next to them and see the gaps before you commit.

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Every budget line

Put your quotes next to these

A simple product typically lands at $20,000 to $60,000, a typical connected product at $75,000 to $300,000, and complex or regulated products commonly above $500,000. The PDF adds Your quote and Your budget columns, section totals and a timeline.

A

Feasibility

1 item
  1. 01
    Feasibility workAbout $1,500 for a narrow question to $15,000+ for a full assessment. The cheapest stage, and the one that saves the most money.
B

Design and engineering

4 items
  1. 02
    Industrial designAs quoted. How it looks, feels and fits in the hand.
  2. 03
    Mechanical engineeringAs quoted. Enclosure, parts and assembly, designed for molding.
  3. 04
    ElectronicsAs quoted. Schematic, board layout and parts selection.
  4. 05
    FirmwareAs quoted. The code on the device, and any app or cloud link.
C

Prototypes

4 items
  1. 06
    Looks-like modelsFoam from about $100; finished models about $2,000 to $150,000. Prove form, size and feel.
  2. 07
    Works-like prototypesAbout $2,000 to $250,000. Prove function, with your first custom board.
  3. 08
    3D printed partsAbout $100 to $1,000 per iteration. Fast iterations of the housing.
  4. 09
    Urethane casting$250 to $1,500 per mold, plus $20 to $50 per part. Beats printing past about twenty units.
D

Validation builds

3 items
  1. 10
    EVT: the design worksUnits × unit cost, plus engineering time. Tens of units, 6 to 10 weeks.
  2. 11
    DVT: it survives and passes certificationUnits × unit cost, plus engineering time. Dozens to hundreds of units, 8 to 14 weeks.
  3. 12
    PVT: the line builds it at yieldUnits × unit cost, plus engineering time. A pilot run, 4 to 8 weeks.
E

Certification

6 items
  1. 13
    FCC Part 15B$1,500 to $3,500. Unintentional radiators, self-declared.
  2. 14
    CE (EN 55032 and 55035)$3,000 to $6,000. Needed to sell in Europe.
  3. 15
    Radio, using a pre-certified module$3,000 to $10,000. Most connected products.
  4. 16
    Radio, custom design$8,000 to $20,000. When the radio is designed onto your board.
  5. 17
    UN 38.3 battery testingFrom about $1,700 per model. Required to ship lithium cells.
  6. 18
    Cellular, including carrier approval$50,000 to $200,000+. Only if your product uses cellular.
F

Tooling and pilot production

5 items
  1. 19
    Soft or prototype mold$1,000 to $3,000. 10,000 to 50,000 shots.
  2. 20
    Bridge mold$3,000 to $5,000. 50,000 to 200,000 shots.
  3. 21
    Production mold, simple$5,000 to $10,000. 300,000 to 500,000 shots.
  4. 22
    Production mold, complex$10,000 to $30,000. 500,000 to 1,000,000+ shots.
  5. 23
    Pilot runUnits × unit cost. The first units off the real line.
G

Costs founders leave out

7 items
  1. 24
    Tooling changes after first shots$300 to $8,000 per change. Fit and finish fixes are common.
  2. 25
    Certification retest after a design changeSame as the original test. A change after testing means testing again.
  3. 26
    Sustaining engineering and firmwareCommonly 15% to 20% of build cost per year. Fixes and updates after launch.
  4. 27
    Cloud and connectivityPer device, per month. An ongoing cost for every connected device.
  5. 28
    Packaging design and drop testingAs quoted. The box has to survive shipping too.
  6. 29
    Safety stockYour choice. Spare parts and units, and the cash tied up in them.
  7. 30
    Freight, customs and dutiesPer shipment. Check current rates when you import.
H

Contingency

1 item
  1. 31
    Contingency for the unknownsYou set the amount. Every hardware project meets surprises.

Download the budget template (PDF)

Every line with its typical range, plus Your quote and Your budget columns, section totals, a contingency line and a timeline strip.

Prefer a spreadsheet? Submit the form and you also get the Excel version and a Google Sheets copy. It adds up your quotes and budget for you.

Read more

How much does it cost to develop a hardware product? →How long does hardware development take? →Injection mold tooling cost →

FAQ

Questions about budgeting a hardware product

How much does it cost to develop a hardware product?

A simple product typically lands at $20,000 to $60,000, a typical connected product at $75,000 to $300,000, and complex or regulated products commonly above $500,000. The template breaks that into 31 lines from feasibility to the first production run.

What costs do hardware founders usually forget?

The lines nobody wrote down: tooling changes after first shots, a certification retest after a design change, sustaining engineering, cloud costs per device, safety stock, and freight, customs and duties. The template lists them so you can see the gaps before you commit.

How do I use the budget template?

Put your own quotes next to the typical range on each line. The PDF adds Your quote and Your budget columns, section totals and a timeline.

Is it really free?

Yes. Everything is on this page with no email needed. You only enter an email if you want the PDF copy.

Want an engineer to sanity-check your budget?

Bring your numbers to a free 30-minute call. We will tell you honestly which lines look light and what usually gets missed.

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