How much investment do I need to launch my own BBQ restaurant? Is $150,000 sufficient in this day and age?

2 childhood friends and I are thinking of starting a K-BBQ restaurant. We did our rough math and it seems $150,000 may be enough for us to launch. We all are in our early 30s, and have kids to support. So we will have to take more risk if we have to set aside more money for the restaurant. Should we reserve more than $150K for our business concept?

Discussion (3)

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1M45

Edited 17 Jan 2022

🤔 dont think so cheap...

Rental itself can range $5k to $10k+ per month. Normally landlord will ask you pay few months advance.... bye bye to half of $150k

I think start from coffeeshop is better, lower startup cost, after that branch out to other area. Some have go this route and quite sucessful, no need to go so big at the start with limited capital.

Coffeeshop uncle is still richer than 9-5 employee.

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Nathaniel

17 Jan 2022

$150K may be an underestimation, unless you're running quite a small restaurant (maybe 30 covers or fewer). You should probably budget for $200K or more. Start up costs will easily set you back $150K, and you'll definitely want to have extra cash as a cushion in case you don't get as many customers as you originally planned. Times are still not the best for F&B so it's best to set aside more emergency funds to cover your expenses until your business breaks even.

Have a look at this guide on how to start a restaurant in Singapore - it covers set-up costs too. Here are some additional resources on i) getting a liquor license, and ii) getting your SFA food shop license.

Don't forget about restaurant insurance to ensure that your investment is adequately protected; the last thing you'd want is for a fire or some other disaster to sink a business that you've worked so hard to start!

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