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December 2012
Welcome to Ideal Software

 

Greetings!

Welcome to the latest issue of Ideal Software's Niche Notes, our newsletter that keeps you informed on all the latest restaurant industry news and more!

This month's issue features two new blogs -

"How Much Does it Cost to Start a Restaurant" and "Opening a Restaurant - Why Location is Important".
 
Enjoy and please feel free to share the knowledge!

Regards,
Ian Said
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How Much Does it Cost to Start a Restaurant?

Read the entire article here >>>  
  

      

Restaurant Startup Costs
Venturing into the wonderful world of food is an exciting journey. Not only will you be testing out new recipes and pleasing the palates of many, but you'll also create the perfect ambiance to accompany main courses, side dishes and the like.
 

Now, before actually opening your restaurant, you need to figure out a budget. Questions regarding the amount you have saved, how much you're willing to spend and what amount you want left over will factor into this decision.

 

What exactly is the cost of starting a restaurant though?

 

The Figures

 

Well, according to Forbes Magazine article entitled "How To Run A Restaurant: start-Up Costs" by Maureen Farrell, the amount will likely vary from $100,000 to $300,000. A large gap clearly exists between these numbers, and you want a better sense of toward which side your budget should lean. You'll need to consider the following factors when estimating a more firm number. 
 
Size of the Restaurant

How big or small the restaurant shall be is a huge factor when determining the cost. A little beach side eatery with a few plastic tables and umbrellas will cost a good deal less than a formal restaurant with seating for hundreds of people as well as a space for large wedding receptions and other celebrations. Places that are more middle of the road will, of course, fall in between the two extreme price ranges.


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Opening a Restaurant - Why Location is Important 


 

Location. Location. Location. It's a cliche for a reason. Before you fold the napkins or add a dash of anything, you need to settle on a location.

Opening a Restaurant - Why Location is Important This should never be an afterthought. You can have the best food in the world and still be hungry for customers if you are not in the right location. Location is really the key to the success of your restaurant. Even if you have the "perfect" spot in mind, don't get too attached until you do a little research first.

 

Here are four factors to consider on finding the correct location for your restaurant.

 

1) Population

 

Are there enough people in your area to have a regular customer base? You don't want to rely on Census Bureau data alone. You want to check factors such as neighborhood demographics and population projections. If, for example, there is a heavily Italian population in your desired location, you're not likely to have much success with a Japanese restaurant. One way to determine if a location is right for your restaurant is to do a site study. A less expensive alternative is to do a little research on your own. If you contact the local municipality where you want to locate your restaurant, they can provide population projections and other useful info.

 

 Read the entire article here >>> 

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Issue: 14
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In This Issue:
How Much Does it Cost to Start a Restaurant?
Opening a Restaurant - Why Location is Important
Stay Connected with Ideal Software


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