It can be incredibly expensive to start a restaurant. By the time you have factored in the cost of buying kitchen equipment, furnishing the dining area, and purchasing stock, it could easily cost you around $100,000 to get to opening night. Cost is the main reason many restaurants fail in their first year. Here are some tips on how to cut costs when setting up a restaurant.
Set A Budget
Before you start, set a budget, and make sure you stick to it. Costs can spiral out of control if you are not strict with yourself. You can always upgrade or buy things you don’t need desperately once you have been established for a while and you have a regular flow of customers coming through the doors.