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What Are Restaurant Startup Costs

restaurant costs Aug 08, 2019

What are restaurant startup costs? A better question is what does every restaurant have to have in place before they can be truly successful?

Watch the video below (or keep reading) to learn the costs you must consider when starting up a restaurant.

Many restaurant owners operate from a more spontaneous place. I'm very familiar with it as I operate the same way. It's more of a "Ready. Fire. Aim." kind of approach. You just want to get stuff done and it's hard to be patient and take the necessary steps to plan. But just like I have had to do, you can train yourself to slow down and make sure you consider the right things before you pull the trigger.

Running a restaurant takes money, yes, but it's easy to blow through that money if you don't consider factors such as the personal cost to you and your family, the essentials to having a successful restaurant, how you want your restaurant to operate and the core values you are committed to.

You have to plan to be profitable. You know how you do that? You create a restaurant budget. Your budget will determine important things such as what you can afford for your location size and whether you're renting, leasing, owning the location.

Cover restaurant 101 - hot food hot, cold food cold, great service, clean and safe work environment for employees and guests. You must train your employees to provide great service.

And don't forget to plan your menu. So many restaurant owners get so involved in the presentation of the restaurant from the design to the uniforms that they forget to plan their menu. Or if you know what you're going to offer on your menu, you must know how much it all costs so you can know what to charge to make money.

And something else you need to consider in your restaurant startup costs? If you have the persistence necessary to deal with the challenges. There are ups and downs to be sure. Employees who don't show up, guests who give you bad reviews, fluctuating traffic and food costs. But if you are persistent, you can ride the ride that is running a restaurant and come out on top.

If you would like to learn ways to control restaurant costs, read our free special report, Is Your Food Distributor Screwing You? 5 Things You Can Do Now to Lower Food Cost. Download it here. Be sure to visit my YouTube channel for more helpful restaurant management video tips. 

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