Planning

Try the free KRG Hospitality Bar & Restaurant Start-up Calculator, rectangle
by David Klemt David Klemt No Comments

Introducing the KRG Start-up Calculator

Introducing the KRG Bar & Restaurant Start-up Calculator

by David Klemt

The KRG Hospitality Bar & Restaurant Start-up Calculator banner

We are incredibly excited to announce the launch of a helpful new tool for new and veteran operators alike: the KRG Hospitality Bar & Restaurant Start-up Calculator.

It couldn’t be simpler to use, and it will give users an idea of how much funding their project will require.

Just enter the square footage you desire or that you know you’ll need. Then, our brand-new calculator generates more than 40 key costs for your review.

Know Your Numbers

New or veteran, single unit or multi, success in this business requires an obsessive knowledge of numbers.

Costs, in particular, are operators’ eternal opponents. People incur the greatest costs before they ever open their doors for business.

Now, that’s just common sense on one hand. Securing a location, kitting out a kitchen, building out the front of house—these are five-, six- and sometimes even seven-figure endeavors.

However, on the other hand, the massive costs that come with opening a new restaurant or bar are often the result of surprises or insufficient planning.

That’s where our calculator comes in.

Here to Help

There’s a reason that the KRG Bar & Restaurant Start-up Calculator populates more than 40 fields.

That reason is simple: preparation is key.

For instance, does your current plan budget for utility deposits, business insurances, opening F&B inventory, soft opening and launch month strategies, the complete array of construction or renovation costs?

Here’s a real-world example of our calculator at work:

Let’s say you want to open a 2,200-square-foot pub. At the minimum, you should budget at least $2,547 for business insurances and nearly $8,200 for opening F&B inventory. And you’ll likely want to set aside at least $14,806 for emergencies.

Try it out for yourself today!

Disclaimer

As with any online calculator, this free calculator is to be used as an initial reference point. Every project is unique in its own way. Property and leasing costs, equipment, and renovation costs will heavily fluctuate based on market, concept, and the status/condition of a chosen property.

Image: KRG Hospitality

KRG Hospitality Mindset Coaching
by David Klemt David Klemt No Comments

Introducing KRG Mindset Coaching

Introducing KRG Mindset Coaching

by David Klemt

KRG Hospitality Mindset Coaching

Seeking an alternative to complete start-up planning and project management? The solution you’re looking for is KRG Mindset Coaching.

Just like every operator is unique, each project brings with it distinct challenges that require individual approaches and plans.

Some projects are already under way but need help moving forward. KRG Mindset gives these projects the help needed to cross the finish line and achieve long-term success.

What is Mindset Coaching?

Owning a hospitality business may look great on paper, but starting a hospitality business can be really quite stressful:

  • There are what seem to be endless hours of planning.
  • There are numerous third-parties involved.
  • There are often hundreds of thousands of dollars at stake.
  • There are over 500 unique tasks to complete.

It doesn’t matter if this is your first, fifth, or twentieth project—it’s crucial that you be both prepared and organized when opening a new concept or expanding operations.

However, not every project requires our full suite of targeted solutions, which includes feasibility studies, conceptual planning, business planning, brand development, guest experience strategies, food & beverage programs, and operational assessments.

If you’re beyond the idea stage but find your project is struggling to reach the finish line, we’re here to help. And just like a project in its earliest days, you’ll receive the unique, fully customized KRG treatment.

Is Mindset the Solution for You?

KRG Mindset provides a unique, coaching-style program that helps your start-up make continual forward progress:

  • Receive a dedicated consultant who will be an approachable advisor for you and your project. They’ll review and navigate your start-up questions and challenges, and be your compass to provide you with a clear path towards a successful opening.
  • Weekly 1-on-1 video/phone sessions with access to a private calendar: a weekly session in which we evaluate the past week and define required actions for the next week with a focus on budgets, timelines, and industry-specific consulting.
  • Your dedicated consultant is also available for second opinions and the review of: key documents, location, concept, branding, layouts, equipment, menu, service, technology, labor and financial optimization, system development, operations, marketing, and overall strategic clarity.
  • Your consultant will help you see the blind spots throughout your project, positioning you to maintain your budget and desired opening date.
  • Your consultant will help you make strong, educated decisions throughout your start-up project that will have a positive impact on the successful start of your restaurant, bar or hospitality brand.
  • And finally, your advisor will coach you so you become more confident, energized, and motivated about your opening while holding you accountable and helping you become a better leader through the creation of new habits, communication methods, and decision-making processes.

Click here to schedule a call.

Or, if you’re looking for a more hands-on approach where we develop the winning plans and property for and with you, we invite you to learn more by choosing your preferred option: Restaurants & Cafes, Bars & Lounges, Boutique Hotel & Resorts, or Golf, Gaming & Entertainment.

Images: KRG Hospitality

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