There’s no exact answer for this as everyone’s journey is different. However, research suggests that the average cost of opening a restaurant in the UK is £42,000 to begin with, this is likely to go up as more investment into the business starts.
Once you begin advertising, furnishing and supplying your restaurant the cost will inevitably rise. Other financial factors to consider include legal, property, design, suppliers, staff and more.
To put it simply, this isn’t a cheap process and it’s best to fully understand what you’re doing with the appropriate advisors, so you don’t fall short in the future. As a financial advisor, Ian Woodley offers a variety of financial perspectives you’ll need to take into account when starting your own restaurant business. You can stream his video series exclusively on Planet Eat here.