Opening a new business

turniton

Hi guys,
a friend is considering the idea of opening a business in Ireland.. Restaurant/take away.. he asked me for the cost involved.. on top of my head I can think:

Commercial rates (average?)
Rent
Light & Heat
Staff cost
Tax

thanks for your help

adamrooney

turniton wrote: »

Hi guys,
a friend is considering the idea of opening a business in Ireland.. Restaurant/take away.. he asked me for the cost involved.. on top of my head I can think:

Commercial rates (average?)
Rent
Light & Heat
Staff cost
Tax

thanks for your help

There are quite a few more costs involved than those mentioned above. The below is just a sample....

Rent/operating costs:
Security deposit
First-month rent
First-month utilities, including Internet and phone service

Location improvement costs:
Construction of customised build out, including kitchen
Restaurant tables and furniture
Tablewear, utensils, dishes, kitchen, etc
Initial supply of food and beverages

Miscellaneous opening expenses:
Insurance
Permits and licenses
Accounting costs (vary) (make sure you have a very good accountant who understands the food service industry ie. different VAT rates)
Ordering and payment technology

Marketing:
Signage
Menus
Fliers/ads/coupons
Business cards

Advertising:
Public relations services
Restaurant-opening event

On-going Costs:
Servicing your equipment
Rubbish collection