How to Start Your Own Restaurant Business
Join restaurant finance expert, Ian Woodley, in this exclusive online masterclass as he shares his tips and tricks and advice on how to get into the industry.
Using his experience and knowledge, Ian guides you through a series of videos offering his advice on the key elements of starting your own restaurant business and what you need to consider if you want your new venture to become successful.
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How to Start Your Own Restaurant Business in Our Series
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Frequently Asked Questions about How to Open a Restaurant
How much money does it take to start a restaurant business?
There’s no exact answer for this as everyone’s journey is different. However, research suggests that the average cost of opening a restaurant in the UK is £42,000 to begin with, this is likely to go up as more investment into the business starts.
Once you begin advertising, furnishing and supplying your restaurant the cost will inevitably rise. Other financial factors to consider include legal, property, design, suppliers, staff and more.
To put it simply, this isn’t a cheap process and it’s best to fully understand what you’re doing with the appropriate advisors, so you don’t fall short in the future. As a financial advisor, Ian Woodley offers a variety of financial perspectives you’ll need to take into account when starting your own restaurant business. You can stream his video series exclusively on Planet Eat here.
What are important factors to consider before opening a restaurant?
To begin with you’ll want to find reliable legal and business advisors who can help you with the initial stages of starting a new business or franchise.
There is a long list of requirements you’ll need to complete before you can even begin to start putting the finished product together and unfortunately, this includes a large pile of legal paperwork and documentation.
From branding, naming, loans, mortgages, furnishings, advertising, and marketing, amongst many more, there are many levels to complete before you can officially open your restaurant. Therefore, we suggest getting in touch with an experienced professional advisor to help you along the way.
Watch our exclusive online masterclasses giving you tips from industry professionals on how to start your own restaurant business. For more ideas like these, simply browse Planet Eat’s other online video masterclasses and subscribe today for a free 30-day trial.
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