Tuesday, October 14, 2008

In These Tough Economic Times

The cost of opening a restaurant is a challenge in these tough economic times. There are ways to reduce you costs along with a few different ways of raising cash to outfit your restaurant with equipment and furnishing.
One real good source of cash is your landlord. If your build-out is $50,000.00 and you only have $30,000.00 renegotiate your lease. All or most landlords will give you a build-out allowance. Negotiate for more. They are also having a rough go of it. You may have to pay a bit more per square foot for rent, but it is a good source for cash. Consider leasing. There are many companies that specialize in food service equipment leases. Purchase GOOD used equipment. There is a lot out there. Lease your dishwasher and ice machine. They are very high maintenance items that are very easy to lease. You can lease those items from your food service supplier or a company like Eco lab without a problem. always choose an independent restaurant design consultant. They are only interested in your budget. An equipment company design staff will always cost you thousands more. Think about bringing in an investor. For some people that is a dirty word. It is a good option if you remain in control.

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