Investing in any new business can be an exciting and daunting experience, and that can be doubly true for restaurants. Serving customers while making revenue can be an exhilarating way to make a living. But much like purchasing your first home, there are many different aspects of running a business that you often don’t consider until you’re in the middle of it. Here are a few things to keep in mind when opening a new restaurant.
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Purchase the Right Equipment
As with any kind of retail business, equipment and setup is often something taken for granted. As a business owner, you need to make sure you purchase all the equipment you need to ensure a safe, sanitary and aesthetically pleasing dining environment. You obviously need stoves, ovens and fryers, but proper display lighting and soup bar equipment are also essential to making sure your customers can enjoy your restaurant properly. Take the time to make sure you purchase the exact right equipment for your business upfront.
Don’t Forget the Permits
Liquor licenses and building permits are the obvious ones most business owners are aware of, but there are many other licenses and fees you will need to pay in order to operate your restaurant properly. A music license from the ASCAP is required in order to be able to play music in your restaurant. Many people don’t notice the background music, but it is necessary to maintain a pleasant atmosphere. You will also need various building permits and food handler’s permits and will need to pay business registration fees. Do your research and draw up a list of the total money you will need to spend on fees and permits before you start building your restaurant. This will keep you from being caught off guard or not having the permits you need.