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How To Open Your Own Restaurant

THE ULTIMATE GUIDE to Starting Your Own RESTAURANT Total cost to start a restaurant: $95 - $131* $3,046 - $3,734* per square foot per seat? "Range of national average costs tCosts per patron seat in restauraunt Step 1: Identify your Concept This is the most important step, and if you're launching a restaurant business, one you've likely thought about for a long time. Maybe you've got it figured out, but you may choose to work with restaurant consultant at $75 per hour. If you choose to buy a franchise, you'll need to demonstrate your $$$ financial assets and pay a franchise fee of $15,000-$45,000. Step 2: Lease or Buy Space The cost of land varies, plan on spending $50 - $450,000 if you buy land. An annual lease will cost you $14.33 - $29.10 per square foot. Step 3: Build or Renovate Your Space4 Construction will cost $19- $91 per square foot. Step 4: Decorate and Buy Equipment Kitchen and Bar Equipment will cost $43- $150 per square foot. Step 5: Don't Forget the Legal Mumbo Jumbo5 You need insurance and permits! Plan on $10,000 per year for these items. Here's a quick comparison for average startup costs across restaurant types Full Service Limited Service Land $262,390 Land $75,108 Construction $320,112 Construction $179,970 Equipment $121,344 Equipment $104,292 Bar/Tavern Takeout/Delivery Land $68,621 Land $86,805 Construction $158,759 Construction $60,067 Equipment $65,129 Equipment $66,500 TOTAL: Full Service $703,846 Limited Service $359,370 Bar/Tavern $292,509 Takeout/Delivery $213,372 And where you open your restaurant affects how much it will cost Average total startup cost Average land + building cost (not including land + building) Northcentral Northeast $391,768 $380,846 $484,375 $197,947 Total: $682,322 Total: Total: $772,614 $626,467 Total: $875,022 West South $427,740 $198,727 $477,564 $397,458 Sources: #http://www.restaurantowner.com/public/Industry-Survey-How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm 2http://www.restaurantowner.com/public/Industry-Survey-How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm Phttp://www.restaurantowner.com/public/Industry-Survey-How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm 4http://www.restaurantowner.com/public/Industry-Survey-How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm SInc Magazine http://www.inc.com/articles/201111/business-start-up-costs-restaurant.html SCORE; via http://www.qsrmagazine.com/denise-lee-yohn/it-s-budget-time Trestaurauntowner.com http://www.restaurantowner.com/public/Industry-Survey-How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm

How To Open Your Own Restaurant

shared by chaustin25 on Jul 01
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Shows all the things you need to keep in mind when opening a restaurant.

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Nina Ignaczak

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Business
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