Savvy restaurant business people know that you have to spend money to make money. Heck, even some not-so-savvy business people know that. The rule holds true for business startups, including in the restaurant industry. The reason for most of the failed restaurants and bars we see is that restaurant entrepreneurs underestimate the startup costs. Startups know they’re going to have to spend a lot of money when starting a new restaurant, but that doesn’t mean there aren’t some financial corners that can be cut. Here are five important tips for saving money courtesy of your friends at One Fat Frog.
Buy used restaurant equipment. You know you need quality restaurant equipment if your establishment is going to succeed, but that doesn’t mean you have to pay top dollar. Used restaurant equipment is considerably cheaper but should be just as reliable when purchased at One Fat Frog.
Trim your menu. If a startup’s menu is too large, it will have popular menu items and not so popular items. The less popular items will often be over-ordered, leading to food waste. Consider starting with a small menu and expanding if necessary.
Use energy-efficient appliances. You think the electric bill for your house is bad? Wait until you open a restaurant! Restaurant equipment, appliances and lighting that are energy efficient will save your restaurant startup big money on your electric bill while the additional initial cost should be negligible.
Don’t use disposable dishes. If you’re opening a deli, café, or some other type of low-price restaurant, you might be thinking of plastic plates, cups, and silverware. Even some big chains like Boston Market make this mistake. While this will save you money in the beginning, the cost of replacing these disposable items will far exceed the cost of upgrading to quality glassware.
Take advantage of freebies. When you own a restaurant, people will give you things for free. No, seriously! Think of how many times you’ve been served a glass of soda in a Coca-Cola glass. Ever notice how many pool tables have Budweiser printed on the pool cues? Different vendors, especially beer and liquor companies, will be happy to give you glasses, coasters, signs, and more for free, thanks to the advertising they get thanks to their emblazoned logo.
Starting a restaurant is expensive enough, so don’t pay more than you have to. The money saved on these tips can ease the pain of the initial startup costs or can be passed on to your first customers in the form of comps. One Fat Frog is your source for the best used restaurant equipment and energy-efficient appliances.
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