March 9th, 2022
It can be an exciting experience to open a new restaurant in Arlington Heights. However, with all the excitement comes the harsh reality of finances. The truth is that starting a restaurant is a big investment.
According to a recent survey of about 500 restaurateurs, the median cost of opening a new restaurant is $275,000 (or $95 per square foot) for leased space. If you want to own the building, bump the price to $425,000 (or $131 per square foot). Additionally, when it comes to budgeting, it is very easy to go well over your set budget — by a lot. The majority of survey respondents stated that their total opening costs exceeded their budget by as much as 15%.
So, how do you open a restaurant on a modest budget? Below, this used foodservice equipment supplier in Arlington Heights, Illinois is going to provide four tips on how to save money when opening a restaurant.
1. Purchase pre-owned and refurbished equipment.
Many new restaurateurs assume that brand new equipment is an absolute necessity. However, the spending in this category can quickly spiral out of control if you only buy the latest and the best in restaurant equipment. Most restaurants can run perfectly well using pre-owned and refurbished equipment — assuming equipment is in excellent working condition.
Many used foodservice equipment suppliers in Arlington Heights, Illinois sell thoroughly inspected and refurbished restaurant equipment that’s backed by a warranty. When you work with the right supplier, you can find high-quality equipment at heavily discounted prices.
2. When it comes to decorating, more expensive is not necessarily better.
When customers walk in, you want them to be blown away by your restaurant’s décor. Unfortunately, it is easy to fall into the trap of believing “the only way to do this is to spend a fortune.” The Internet has made it quite simple for us to pull off DIY interior decoration.
You can look for design inspiration from Pinterest boards, start compiling your own ideas board, and keep an eye out for websites that offer low-cost solutions for your favorite style of lighting fixtures, wall art, seating, bar stools, and other must-have items for your new restaurant.
3. Do not splurge on ingredients.
Great meals start with quality ingredients — so it’s only fair to want the best ingredients for your Arlington Heights restaurant. Nonetheless, as any reputable used foodservice equipment supplier in Arlington Heights will tell you, you don’t have to go to the most expensive suppliers to get quality ingredients.
Instead, you may want to consider purchasing your ingredients from local farmers or food co-ops. When you find a food supplier that offers what your restaurant needs, you can work out a deal that could save you money in the long run. Make sure to audit your restaurant menu for excessive items as well — having too many options on the menu will cost you considerably more in terms of both food costs and prep time.
4. Marketing is important, but it doesn’t have to cripple your budget.
There is no getting around the need for marketing — after all, what good is a restaurant if no one knows about it? Unfortunately, many restaurateurs get talked into shelling a huge amount of money on outsourced marketing firms, and the results rarely pay off.
Your new Arlington Heights restaurant does not need an expensive online marketing strategy. Instead, you can look at some affordable options — such as setting up a simple website and social media pages — that are still highly effective.
Looking for a Used Foodservice Equipment Supplier in Arlington Heights, Illinois?
Are you looking for ways to save money while opening your restaurant? If so, and if you’re looking for a used foodservice equipment supplier in Arlington Heights, Illinois, March Quality is the company to call. We offer pre-owned and refurbished foodservice equipment that has been thoroughly cleaned, tested, and reconditioned to ensure the highest quality possible.
Contact us today at (630) 627-3031 to get started.
