How much does it cost to open a restaurant?
One of the first questions we get asked as Restaurant consultants, is how much will it cost to open our restaurant. Its a fair question really and the correct answer is generally. How long is a piece of string!!
At Lumiere consultancy we work with restaurant groups with large financial backing and perhaps already a portfolio of many sites, to single site operations, food truck or ghost kitchen operators. So the budget varies immensely, but the process is often the same.
The Process- How to calculate how much does it cost
To understand how much your restaurant will cost will very much begin with the following questions.
- What is your overall concept?
- Where are you looking to open?
- Who is your target audience?
- What is your ideal timeframe?
- What is your budget?
Once we have established those answers we can start making assumptions based on our previous projects and current market trends. Generally we would achieve this by crunching numbers and advising on a feasibility study.
To learn more please follow through to How much does it cost to open a restaurant?
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