Posted at 08:00h
in March Quality
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.