How to Start a Restaurant Business on a Low Budget

If you’ve ever considered starting your own restaurant or have experience in the industry, you know that opening such a business can be an expensive venture. You need space, marketing, supplies, a staff and, of course, you need restaurant equipment.

So how do you find the equipment and items you need when you are on a lower budget? We at Kohn-Megibow Company are happy to share some tips to help you start your restaurant business on a smaller budget. Take a look!

1.  Start Small.
Your restaurant doesn’t have to be huge right away. Opt for a smaller space, a less-desirable location or even a mobile business model. You can generate buzz about your food and services and let the restaurant’s appeal grow naturally. Then, you can expand once you have a more solid financial foundation to build upon.

2.  Be Budget Conscious.

Every restaurant is different, so focus your expenses on the necessities to run your specific restaurant. If you buy more supplies than you need, hire too many people or purchase things that don’t apply to your food service needs, then you are most likely wasting money and should consider creating a budget for all of your expenses.

3.  Think Locally.

There are so many great marketing opportunities if you look at local sources and focus your efforts on how to attract local customers. Think about your town or even just your neighborhood. How can you reach those customers through local advertising, word-of-mouth, social media and other less-expensive marketing strategies?

4.  Buy Wholesale Materials and Used Restaurant Equipment.

Buying your supplies in bulk can be a great way to save money. Likewise, opting for used restaurant equipment will help lower your budget. Whether it’s stoves, ovens, refrigerators, freezers, pots, pans, mixers, dishwashers or any other specialty equipment for the food you plan to serve, restaurant equipment expenses can add up quickly. So buy high-quality used equipment from sources like Kohn-Megibow Company. And when you are ready to upgrade to newer equipment down the road, you can sell your used equipment back!

If you are thinking about launching a new restaurant business, purchasing used restaurant equipment at Kohn-Megibow Company is a great place to start. Contact us today at 714-666-8166 for more information on our products.