Average Restaurant Start Up Costs
The main reason why most restaurants fail is because they never really have enough money to finance their restaurants. More or less, a hundred restaurants close from operation because they are bankrupt or they fail to continue the cycle of their budget.
So, learn what the average cost to start a restaurant is really.
Costs by the Type of Restaurant
There are different types of restaurants. Most of them have their own different themes. When you talk about types of restaurants, this means there are also different ranges of starting up cost. For example you own an Italian restaurant; you will need a large amount of budget to sustain from the ingredients of your food, to the different aged wines, to the kinds of kitchen and eating materials. These have to go with the Italian feel you wanted to project. In this kind of restaurant, you will need an amount of more or less 500 to 800 thousand dollars. This is the average cost. You will still need to have a budget to support your first 2 to 3 years of your restaurant finances.
In a Japanese restaurant, owners usually make their place have the real Japanese feel. Their food ingredients are quite expensive because they usually come straight from Japan. These ingredients would be costly because they are imported and it is important that the quality of your ingredients is always high so that the qualities of the food you serve to your customers are also worth the cost. More or less you will be preparing for 400 to 700 thousand dollars for a Japanese themed restaurant. It is included in this cost the costumes of your waiters and waitresses and the cooking utensils used by the chef.
Common restaurants would cost depending on the type of food you serve. You have to determine the kind of restaurant you are starting up. Through this, you will be able to research on different things about the budget you will need. Remember to consider also the salary of your employees and the utensils you will be using in your restaurant. More or less in a small restaurant, you should have 200 t0 400 hundred thousand dollars.
Things to Prepare
This kind of business requires you to secure all the necessary documents you need. The things you need to secure are the permits, licenses and the insurances. These would cost you a bit but you have to remember that this is necessary so that you will not have any legal impediment when you opened your restaurant. Also, you should remember to choose the utensils you will be using in your restaurants. These are also important because they are the main things you will be using in your restaurant business. Your employees should also be compensated well so that they will perform well in their jobs. Make sure that they have the necessary work benefits so that they are taken cared of while they are working for your restaurant.
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