Opening My Own Restaurant

[admarlow]

I know this is a bit of a ''how long is a bit of string'' but how much does it cost to open a restaurant on avarage (about the size of a Pizza Express) can I get a load, how much deposit do I need, has anyone out there done it?? Im thinking about S.E England. Are there any websites that can help?

[LazyGun]

The coffee/designer bar section here may be of some help admarlow. I would also recommend talking to the business advisors at your local business link, and talk to a local restaurateur if you are serious about it.

https://www.business.barclays.co.uk/BRC1/jsp/brcscontrol?site=bbb&task=BSsab8step1

[LazyGun]

oops link doesnt work properly.
Google Barclays... go to site. Click on business banking, then on turnover less than 1million.Look down the left hand bar for business opportunity profiles. On that page should be a dowloadable pdf file for a cafe/designer bar that may be of help.

[jake-the-peg]

There are a number of books like this:
http://www.amazon.co.uk/exec/obidos/ASIN/09106 27363
and quite a few articles and websites such as this
http://www.caterersearch.com/Articles/2006/07/ 06/308001/Opening+your+own+restaurant.htm
or this:
http://www.startups.co.uk/YSB2GxM.html

I think 3 out of 4 fail in year 1, so read up as much as you can and don't make optimistic projections - going in with a "it'll all work out" attitude is a great way to get real poor, real fast.

Look in a few restaurants in the area (hopefully there aren't that many!) go on a Tuesday evening, not a Friday - how many people are in there? What do you reckon the average bill will be?

Remember rent, staff costs, tax, VAT, heating and lighting, insurance food costs and wastage - how would you be left with? now how long will that take you to pay off your capital costs like kitchen equipment and furniture? Don't forget interest on that loan!

That's the sort of thinking you need to do before you start

Best of luck though