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.
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.
How to Address Temporary Restaurant and Bar Closures: 5 Social Media Examples
by David Klemt – 12/1/2020
Repeated restaurant and bar closures have, tragically, become a hallmark of 2020.
Operators have had to learn how to communicate closures to potential indoor guests, as well as delivery and takeout guests.
For most operators, the possibility of closing their doors—temporarily or otherwise—has moved well past “if” territory. At this point, it’s not even a question of when a restaurant or bar will have to close, it’s a matter of when it will happen again.
There are a few reasons a F&B business will have to close due to the Covid-19 outbreak: official mandate, reduced indoor and outdoor dining capacities, and voluntary temporary closures.
Mandated closures are, on the surface, straightforward. Government officials decree that certain types of businesses must close their doors by a specific date and time, and owners are expected to comply.
Closures induced by capacity restrictions are less straightforward. It has become woefully apparent that most lawmakers don’t understand (or don’t care) that at a certain threshold, reducing indoor and outdoor dining capacities is as good as forcing a restaurant or bar to close; the value proposition of remaining open simply isn’t there.
A voluntary temporary closure can come about because of capacity limitations, but they can also be the result of other factors. A significant workforce reduction, lack of traffic, rising costs of goods, or an internal Covid infection.
The stark reality is that the likelihood today’s operators are going to have to craft social media posts and emails announcing temporary (and possibly extended) closures is anything but slim.
Below are four examples of effective closure announcements that bars across America have posted to Instagram recently.
Machine, an upscale cocktail bar and restaurant in Chicago, made the difficult decision to close their doors to in-person dining guests throughout the remainder of 2020. The post addressed the reason for the decision but made it clear that Machine would continue to operate for delivery and curbside pickup orders placed online. Community health and safety was held up as a priority, and though the news was disappointing and no doubt difficult to break, Machine’s post was positive.
Award-winning Chicago cocktail bar Lazy Bird, located in the basement of the Hoxton hotel, was forced to close due to indoor dining restrictions. The post image was short and to the point, with the caption explaining in detail why the bar was closing temporarily. Lazy Bird is part of the Boka Restaurant Group and their post included a call to action for people to support venues within the portfolio that would still be able to offer outdoor dining, delivery and takeout.
Three days ago, award-winning restaurant Compère Lapin announced a temporary closure due to a team member being exposed to Covid-19. Like the Machine post, Compère Lapin’s message explained their decision was based on safety. Similar to Lazy Bird, the restaurant urged guests to visit James Beard Award winner Chef Nina Compton’s other restaurant, Bywater American Bistro (BABs).
In Woburn, Massachusetts, just ten miles northwest of Boston, the Baldwin Bar alerted guests to their temporary closure because a staff member tested positive for Covid-19. The message, like that of Machine’s, was transparent, straightforward, reassuring, and positive overall. Not only did the Baldwin Bar share that the venue was undergoing a deep clean, they named the company tasked with providing the service.
The Baldwin Bar, thankfully, got to post the following message a little more than a day after posting their closure announcement:
Operators who find themselves in the terrible and frightening position of having to announce a temporary closure would do well to follow the examples above. While hope isn’t a viable business strategy, a hopeful tone can help garner support from the community.
Equally important are an emphasis on health, safety and cleanliness so guests feel comfortable placing orders for delivery and takeout, and returning when the doors open once again. As difficult as it may be when faced with closure, focusing on the well-being of the guests can help ensure there are guests lined up upon reopening.
