Over 350 independent restaurant owners share their startup costs and financial performance. Restaurantowner.com’s 2018 cost to open a restaurant survey report details startup costs and financial performance of new restaurants.
RestaurantOwner.com has released the report of their 2018 Cost to Open a Restaurant Survey. The report summarizes input gathered from over 350 independent restaurant owners and operators regarding their startup costs as well as their financial performance.
A copy of the survey report is available at: https://www.restaurantowner.com/public/How-Much-Does-it-Cost-to-Open-a-Restaurant.cfm
The median restaurant startup cost was $375,000. This equates to a median cost of $113 per square foot, or $3,586 per seat. Many factors affected cost including remodel vs. new construction, free standing building vs. tenant space, and whether the restaurant was full service, limited service, bar or tavern, catering business, or takeout and delivery.
“New construction was more costly than remodeling. The median cost of building a restaurant from the ground up, not including real estate, was $650,000,” said COO Joe Erickson.