But the devil is in the details. When that stress response is turned on 24/7âthe way it is for a lot of usânothing good happens. Itâs like speeding down the 405 freeway in first gear. That first gear can be a lifesaver if youâre trying to get up a steep hill, but itâs death to your transmission if youâre driving 75.
You will generally find that the total cost per square foot of your restaurant will run about $150-$200, excluding land costs. This means that if you plan on opening a restaurant with a square footage of 3,000, your total costs will be approximately $450,000-$600,000. Keep in mind that this is a general range only.
The cost for the premises selected will depend on the areaâs popularity, the locationâs size and whether you rent or buy the property. According to Restaurant Owner, which conducted an industry-wide survey, start-up costs for bar establishments that rent range from $125,000 to $550,000. For owners who opt to own the premises, the cost is between $175,000 and $920,000. Another option is to purchase an established bar, which can cost as little as $25,000, according to Entrepreneur magazine. Bar Types & Themes. The type of bar you open will also impact startup costs. Bar type varies from beer bars and brewpubs to wine bars. The startup cost for a brewpub ranges from $100,000 to $1 million. This is because of the equipment needed to make beer on the premises.