The restaurant industry is full of fierce competition and tight margins, but it also highly rewarding for those committed to their trade and putting in the hard work it takes to make it a success.
But more than just hard work, it requires careful planning and budgeting to make the initial start-up costs and ongoing operational expenses financially worthwhile.
Budgeting in the Restaurant Biz
Getting a new restaurant up and running or expanding operations of an existing restaurant can take a significant amount of up-front capital before you can even open your doors to paying customers. Operational costs will vary but should account for the following:
- Commercial space
- Renovations, remodeling and décor
- Kitchen equipment
- Restaurant technology
- Licensing and permitting
- Ongoing fees and insurance coverage
Ways to Save
Once a commercial space is leased or purchased, many of the biggest start-up costs are found in the kitchen. New commercial kitchen equipment can be upwards of hundreds of thousands of dollars depending on what is needed or wanted, but there are ways to save.
Buying used equipment or renovating existing restaurant properties may enable you to save on some of these more expensive equipment and furniture items. In terms of décor, spending on a few high-impact elements can go a long ways in making a statement without the expense of overhauling all of the design components.
Owning and operating a competitive and profitable restaurant starts with a realistic budget and a functional restaurant space and design. At Seacoast Construction, we know the ins-and-outs of successfully completing commercial restaurant buildouts and can help you take yours from conception to completion on time and within a budget that meets your goals. Contact us today to get started.
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