A restaurant renovation can represent a huge investment in your business, both in terms of the overall success of your restaurant and financially. That’s why it is so crucial to carefully plan your budget before you get started. Figuring out how much it will cost to make the changes you want to make, and how those costs can be increased or decreased, can be a bit tricky.
If you’re thinking about a restaurant renovation, consider how these factors can affect your overall budget.
Depending on what you want, high-end ranges and other appliances can easily cost more than $20,000 a piece. That’s a lot to invest in a part of your restaurant that customers will never see. Consider how much labor an appliance will really save your business before deciding to factor in the cost for a state-of-the-art kitchen into your remodeling budget.
Costs for new appliances can be pushed even higher if a new gas line or plumbing system is required. Keep in mind that this can be required if a line needs to be moved or expanded. To keep costs down, consider keeping your appliances in the same areas, even if you decide to replace them with new ones.
A walk-in unit can cost between $10,000 and $30,000 to install if a walk-in refrigerator wasn’t in place prior to construction. To keep costs down, consider installing two 8’x8’ units, which average a cost of $5,000 each.
Shutting Down vs. Staying Open
Work can proceed a lot faster if construction workers don’t have to worry about keeping dining and food-prep areas free from construction dust. Many customers are also turned off by extensive restaurant remodeling work going on in the middle of dinner. For this reason, it often makes sense to close down a restaurant for a few days while construction is going on rather than stretching out construction over weeks in an open restaurant. The lost revenue is often a small price to pay for happier customers and a better work environment.
Of course, if you decide to shut down make sure you make considerations for employees who will be missing work as a result. Offering a construction bonus can be a good way to retain employees who you don’t want to lose.
Computing an exact budget for a restaurant remodel can be difficult. For this reason, it’s a good idea to choose a contractor who is experienced and has worked on a number of restaurant projects. Modern Construction Corporation has the experience needed to complete a successful restaurant renovation. We’ll stick to your budget and your timeline, making the process as stress-free as possible. Contact us today to learn more about how we can help you build your dream restaurant.