What’s the Real Cost of Opening a Restaurant?

<p style&equals;"text-align&colon; justify&semi;">If you’re thinking of opening up your own restaurant&comma; there’s a lot of factors you need to consider&period; The cost of setting up is just one of the things you need to look into and the amount you need may just surprise you&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">So&comma; what is the real cost of setting up a restaurant&quest; Here&comma; you’ll discover the main costs involved that you need to factor in&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Premise costs<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">The biggest cost you’re going to face is the restaurant premises&period; Whether you’re choosing to buy or lease out the space&comma; it’s going to be the most expensive part of setting up your restaurant&period; Generally speaking&comma; leasehold premises are cheaper than freehold&comma; though you’ll still be looking to <a href&equals;"http&colon;&sol;&sol;www&period;restaurantdoctoruk&period;co&period;uk&sol;article-Setting&percnt;20Up&percnt;20A&percnt;20Restaurant&period;htm" target&equals;"&lowbar;blank" rel&equals;"noopener">pay anything from £40&comma;000 to 200&comma;000<&sol;a>&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You’ll obviously want your restaurant to be ideally located too&comma; which could cost significantly more if you’re basing yourself in a prime location&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Utility costs<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">One thing that’s easy to forget about when you’re estimating the cost of setting up a restaurant business&comma; is utility costs&period; You may find the electrics and plumbing in the premises you’ve chosen need to be altered to accommodate for your restaurant’s layout&period; So&comma; not only will you have the electricity and gas running costs to consider&comma; but you’ll also need to potentially factor in installation costs too&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">It’s worth shopping around before deciding which utility supplier to go with&period; Different companies offer differing prices&comma; so shopping around will ensure you get the best deal&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Supplier costs<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Restaurant owners need quite a lot of supplies in order to keep the business flowing&period; Therefore&comma; you’re going to want to compare different suppliers to ensure you find the cheapest deals&period; However&comma; it is important to consider more than just cost when choosing a supplier&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">You also need to ensure they are reliable and provide high-quality supplies such as <a href&equals;"https&colon;&sol;&sol;www&period;nisbets&period;co&period;uk&sol;refrigeration-and-ice-machines&sol;freezers&sol;under-counter-freezers&sol;&lowbar;&sol;a33-3" target&equals;"&lowbar;blank" rel&equals;"noopener">Nisbets<&sol;a>&period; If you compromise quality for cost&comma; you’re definitely not going to become successful&period; There’s so much competition out there in the restaurant business so in order to survive&comma; you need to make sure you’re providing an exceptional quality service&period;<&sol;p>&NewLine;<h2 style&equals;"text-align&colon; justify&semi;">Marketing<&sol;h2>&NewLine;<hr &sol;>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Another start-up cost that’s really easy to forget about is marketing&period; Once you’ve got the restaurant set up&comma; you need to get the word out there so people know you exist&period; Offline marketing is great for driving in local customers&comma; but you’ll also need to focus your efforts on digital marketing&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">While many digital marketing techniques are free&comma; such as social media business pages&comma; you will need to spend some money on your marketing campaign&period; For example&comma; at the very least you’re going to need a website&period; Then&comma; you’ll want to look at targeted paid ads on Google and social media&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">These are just some of the costs involved in setting up a restaurant&period; As you can see&comma; it’s certainly not the cheapest type of business to start&period; However&comma; the profit potential if you get it right is huge&period; You really do need to consider the full costs before setting up your new restaurant if you want it to be a success&period;<&sol;p>&NewLine;