How to Save Money When Starting a Restaurant

If you are a wannabe business owner, or already have a small business and want to make it grow, then you’ll always need something that you never seem to have enough of––money. If that business is in the restaurant trade, then you’ll know the expense of running a new business only too well. It’s definitely not cheap, and the standards that are expected of you can’t be achieved by cutting corners.

However, it would be foolish to ignore your dreams of opening that brand-new restaurant for the sake of whether you have enough money or not. There’s plenty of opportunities out there for small businesses to get started, and there are applications that you can make as a first time business owner (for startup funds and loans). Nothing will quite beat saving aside some money, though. With a little savviness, you can get yourself up and running and put that business plan into fruition. Here are a few suggestions on how to save money when starting a restaurant.

Spending Less on Restaurant Equipment

Normally, recycling is reserved for trash that can be modified and turned back into something useful. So why would restaurant equipment be any different? It may seem like a bit of a stretch to go from one to the other, but actually, used restaurant equipment can be quite a novel solution to finding new appliances (or rather, as new) and populating your restaurant without breaking the bank. Plus, as any entrepreneur will tell you––the best way to save money is by not spending it in the first place.

The Restaurant Warehouse, based in Seattle (but shipping to all parts of the United States) specializes in refurbishing commercial kitchen equipment and merchandise that would ordinarily be thrown away after an eatery has finished with them. Admittedly, there are some appliances that simply cannot be recycled as commercial kitchen equipment for safety and hygiene standards, but where they can’t provide used equipment, they do sell new appliances too. Figure a mix of used and new into your business plan, and you should be able to save a few dollars to spend elsewhere.

Using Social Media and the Digital Machine

Let’s be honest—social media isn’t for everyone––and by-and-large, most small business owners don’t even spend much time with it. However, it can’t hurt to branch out into the digital world and advertise on Facebook, Twitter, Instagram and LinkedIn, with the latter being useful for recruitment purposes. The fact is, if you want to be an entrepreneur, then you have to move to where your audience is, and these days, that’s largely online. Of course, restaurants are tactile venues, and the experience of eating at one has little to do with the World Wide Web. However, consider how many of your potential customers rely on reviews for insights for where they should eat at next.

There are a myriad of new business tools at your disposal that can help you build a reputation before you even open your doors. Search engine optimization (which can push you up the results list on a search engine), payroll software, and inventory management are all online and digital tools that may seem a little complicated but are actually great ways to make your operations a lot easier.

Tough Times

It wouldn’t be useful to ignore the fly in the soup (pun intended)––or the pandemic in the world. If you’re planning on opening your new restaurant imminently, then you should familiarize yourself with the CDC guidelines for restaurant owners.

Thinking Outside The Box

Recently, the New York Times posted an article that suggested that a lack of mask wearing in restaurants was contributing to the spread of the coronavirus. Whilst that may be up for debate, there is no harm in suggesting that it may be safer to keep your doors closed for just a little while longer. Instead of hosting, try implementing a delivery service until the pandemic settles down a bit more. That way, you have an online presence and an audience ready for the doors when they finally open.

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