The restaurant industry is notoriously hard to break into. There’s tremendous pressure on new establishments to turn a profit, and turn one quickly, which is why it’s so important for budding entrepreneurs to understand initial start-up costs.
According to 2016 research from the National Restaurant Association, there were 620,807 registered restaurants in the United States—a slight decline from previous years. Quick service eateries such as Subway, McDonald’s and KFC are among the most successful restaurants. However, they can be the most expensive franchises to operate with an estimated cost of $1.5-3.5 million.
For those seeking to start a casual or fine dining experience restauranteurs best serve themselves by carefully considering any and all start-up costs. This data examines initial costs, from purchasing and leasing space to hiring quality staff, marketing and attracting customers.