article thumbnail

How much does it cost to open a restaurant?

7 Shifts

Licensing and permits The licensing and permits your restaurant will need will vary depending on where you are. Ask an experienced colleague or lawyer which licenses and permits you’ll need to open a restaurant in your area. Tech If you want your restaurant to run efficiently, you’ll need to invest in the right technology.

License 354
article thumbnail

A CPA’s Insight on Top Issues Restaurant Owners Face

Modern Restaurant Management

Money and Inventory Management The profitability of a restaurant depends on the careful management of cash flow. Inventory management is another key issue that can creep up if owners are not aware of what product they have and how much is currently available.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Setting the stage: a guide to opening a restaurant

Open for Business

From budgeting and licensing to crafting the perfect menu, here’s everything you need to know about how to open a restaurant. Licenses and legal requirements Navigating the maze of licenses and legal requirements is another major step in opening a restaurant.

License 78
article thumbnail

Pandemic Effects on Funding, Growth and People – Plus Predictions for 2024

Modern Restaurant Management

Shortage of Capital for Restaurant Technology As we marched into 2023, interest rates and uncertain economic conditions continued to impact the withdrawal capital from restaurant technology investments. Investments in venture capital had a massive retreat in 2023, hitting the technology sector very hard.

2024 120
article thumbnail

How to Open a Coffee Shop: The Ultimate Guide

7 Shifts

Obtain Permits and Licenses. Once you've validated your idea, you can dive into the nitty-gritty: Obtain Permits and Licenses. In the process of opening your coffee shop, it's important to mitigate the potential risks affiliated with permits and licenses. Business License. Liquor License. Coffee Shop Technology.

License 459
article thumbnail

What is a Ghost Kitchen? Winning Models, Trends, and Opportunities

Apicbase

This will simplify procurement and inventory management , allowing you to purchase larger quantities for better prices. Procurement and inventory management are more complicated when you run multiple brands from the same kitchen. Use data to forecast demand and staffing needs so you can adjust your inventory and shifts accordingly.

article thumbnail

The Complete Guide to Restaurant Costs

Restaurant365

One-time costs are one-time purchases, like a lease security deposit or loan down payment, signage, renovation costs, and business licenses and permits. However, the biggest factor in controlling food costs is improving your inventory management. This includes everything from napkins to kitchen equipment, as well as licensing costs.