by Nigel Hilton
Have you ever dreamed of taking your passion for cooking to the next level? All start-ups start with a little flicker of an idea, a dream, some passion, some courage and some know-how. Of course, every good start-up consists of a lot of work, planning, preparation and a good dose of reality.
Photo by Shawn Ang on Unsplash
One might say those are the starting points of a great recipe.
The average restaurant start-up costs vary significantly because there is no one way to do it. It doesn’t have to be big, bold, and gold-detailed. It can be a food truck with the best mac and cheese. Most start-ups spend far too much money on things they think they need rather than what they really need. Before you turn the gas down on the idea, thinking it will cost way too much, here are some things to factor into your costs.
Equipment
Kitting out your kitchen is going to be something that you will really enjoy doing. Choosing what you cook on, and the different things that are available will make a big difference. Food equipment for commercial kitchens is typically on a much larger scale than what you are used to, and some of it will have much more functionality than you are ever going to need. Go for quality over quantity in the early days. Look at your kitchen equipment as an asset and an investment. Finally, be sure to stock up on necessary kitchen accessories like a temperature sensor to ensure precise cooking temperatures and maintain compliance.
Marketing
If you aren’t careful, you can plow a lot of money into marketing only to see very little return. You don’t need an expensive marketing team; you need to do some research and start the groundwork yourself. You can tackle the social media and local advertisements yourself or seek out a graphic designer to do the design while you take care of the rest. Use the free tools you can access online to help you automate sharing your social media content and hand out flyers by hand.
Technology
Do you really need the servers to have iPads to take orders? Do you need to have technology in a big way? Unless you are going for a modern internet cafe food start-up, you might not need much.
You’ll need to consider what you need regarding bookkeeping, point of sale, and ordering, but beyond that? You can keep the cash.
Another thing you might consider is WiFi for the restaurant so people can share their food pictures while they eat.
Remodeling
When you finally find a space you can use, you will probably want to make it your own. Decide what is important in the space. Is it expensive seating? Or just great seating and a comfortable space to eat great food; what do you want? Always consider that there will be an unexpected cost when remodeling and decorating - from leaking pipes to bad electrics.
And, of course, you will need to find the best suppliers at a fantastic rate to keep the cost of your food low. Keep your menu stripped back to what you make best; don’t be tempted to add frills and extra when all that does is add extra to your expenses.