One of the biggest reasons restaurants fail is because there was never really enough capital to start the restaurant in the first place. If you are planning to open your restaurant, you will need enough capital to start up and then enough money to cover about two to three years of expenses because this is usually about how long it will take before you start making any real profits.
For now let's just focus on the restaurant start up costs - money you'll need to go from the idea stage to actually opening your restaurant. These costs can vary depending of the style of the restaurant, location you have chosen, and the type of cuisines offered. It can range between one hundred thousand dollars and three hundred thousand dollars depending on where you live, what type of restaurant you're opening, and a variety of other factors.
From the outset you're going to shell out money to get all the proper licenses and permits. Then you'll also have to either spend a good chunk of cash on slightly modifying a place, completely renovating a space, or absolutely starting from scratch. Obviously, the more you want to do to the space then the more money you'll have to spend.
Then you're going to have to look at the restaurant start up costs to purchase the equipment you need for the restaurant. This includes things like the ovens, stoves, freezers, refrigerators, stations for cutting, heating, and cooling, ventilation equipment, tables, chairs, and possibly bar stools. Of course you may be able to find a place where many of these things are already present. However, even though you'll be saving money at the outset, you may actually lose money in the long run because places that are fully equipped usually are much more expensive than places that aren't furnished or equipped at all.
In addition to the items listed above, you'll also need to buy an outdoor sign, menus, glasses, china, silverware, and many other smaller items. You need to make sure you plan out every little thing you need to get started including things like napkins, light bulbs, and toiler tissue.
Part of your start up costs will also include money for buying point of sale equipment such as cash registers, credit card machines, etc. You will need a way for people to quickly and easily pay for their food (this is how you'll make money).
You will also need to plan for buying food and drinks, as well any other thing that will be an ongoing expense. Don't forget to include anything and everything. Any unexpected expense that crops up later will hurt your bottom line and threaten to blow apart your budget. So be very careful.
Restaurant start up costs can be very pricey, The average cost to start up a restaurant is often right around a quarter of a million dollars. In addition, a very common reason why people fail with their restaurants is because they don't have enough money to shell out for the initial cost of opening the restaurant and then to continue to spend the money to keep the restaurant operating. So just to be sure, always make sure you have the capital to start up the restaurant and then to keep it going for a couple years.
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Las Carretas stands for The Wagon in Spanish. We serve great Mexican Food with a good selection of Steaks, Ribs, Pasta and Seafood.
If all things trigger your fancy, then you will love this little nook known simply as Las Carretas. A place where you will find truly authentic Mexican cuisine in a set up that you will not one to MISS. Think rustic, true Mexicana style with Aztec features dotting the warm yellow walls. The ambiance at Las Carretas surely tops the knot to lending you a truly exotic dining experience.
Start off with our wide selection of Margaritas to quench your thirst followed by Nachos or Mussel Habanero & Crispy Corn Chips whet your appetite. Infact, we have been voted Top Ten-Best-Spots to enjoy Margaritas by "THE EDGE" Business Newspaper.
Some of our specialties include Fajitas, Camarones Ajillo, Chimichangas, Quesadillas, Enchiladas, Tacos, Guacamole, Nachos, Back Ribs, CAAB Short Ribs, US Rib-eye, Australian Grain-Fed Rib eye, T-Bones, Home-Smoked Short Ribs, Home Smoked Beef Brisket and the list goes on.
Locked cozily away in Persiaran Ampang, Taipan & Damansara Heights, these places assures you the perfect get-away feel whether for an intimate night out with your loved one, entertaining friends or guests, birthday celebrations or even a corporate event.
Las Carretas caters for one & all!
Malaysia My Second Home Programme
MM2H - Malaysia My Second Home
NEW YORK - Customers have been walking
away from sit-down chains as convenience and affordability take precedence.
Ruby Tuesday said this week that its
CEO is resigning, and the chain forecast another quarter of lower sales as it
closes locations. It's the latest of several established restaurant players
that are retrenching, changing management or scrambling to adapt as people have
more food choices all around them.
Those suffering the most appear to be
the ones where people sit down for waiter service and pay more. Ruby Tuesday's
five straight years of declining sales at established locations is an extreme
example, but others are feeling it.
Chili's saw sales fall 2.2 percent at
established locations for the fiscal year. Applebee's sales edged up just 0.2
percent for its fiscal 2015, but then dropped in the first two quarters of this
year. Darden Restaurants rid itself of Red Lobster in 2014 after the seafood
chain suffered years of declining sales.
It's an effect of people's changing
food preferences and lifestyles. Darren Tristano, president of the restaurant
industry tracking firm Technomic, said younger people in particular are on the
go and want their food to be, too.
"They're looking for convenience,
quality, portability and healthfulness," Tristano said.
A decade ago, sit-down restaurants
accounted for 53 percent of the restaurant industry, Tristano said. Now, the
balance has shifted and fast-food places -- those without waiters or waitresses
-- have 53 percent of the market. Panera displaced Applebee's, the last
sit-down chain in the top 10 restaurant companies by sales, last year,
according to Technomic.
Where growth is happening, Tristano
noted, is in the corners of the food industry -- convenience stores, the
prepared food sections of supermarkets, meal delivery companies and at
independent restaurants that don't report their sales.
The restaurant industry is
particularly prone to change, with established chains constantly in danger of
looking dated as newcomers emerge. The competitive pressure is pinching even
giants like McDonald's, which is trying to improve the image and quality of its
food. The world's biggest burger chain appears on track to reduce its
restaurant count in the U.S. for the second year in a row. Subway has seen
domestic sales declining for the past two years.
One advantage big fast-food chains
have is that they're still more convenient and affordable than sit-down
restaurants. It's why Wendy's CEO Todd Penegor said he thinks fast food will
keep taking market share from those chains.
Underscoring the power of convenience
is that amid the industry pressures, Domino's has been doing well. The pizza
chain doesn't have the best culinary reputation, but analysts say the delivery
convenience it offers at a low price fits well with what people want.
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- Management :: Restaurant Start Up Costs - How Much Money Will You Need?
- Las Carretas Mexican Restaurants - Kuala Lumpur, Ampang, Subang Jaya, Taipan, Damansara, Malaysia
- Why sit-down restaurant chains are suffering
- Breaking News, U.S., World, Weather, Entertainment & Video News
- Find Real Estate, Homes for Sale, Apartments & Houses for Rent
- Critical Tips For Successful Apartment Moves
- 5 approaches To Earn Online Quickly