If your restaurant build costs $1 million, Gerrick Numan believes the venue should be capable of doing around $2 million a year in turnover. Otherwise, the fitout can take too long to pay itself back.
In this episode, Gerrick breaks down how to budget a restaurant build without spending money customers will never notice.
You’ll learn how to think about fitout spend versus expected revenue, where hidden build costs usually appear, and why taking over an existing hospitality site can dramatically reduce setup costs.
You’ll also learn how to get most of the visual result for a fraction of the cost through smarter materials, simpler finishes and better design decisions.
And Gerrick explains how working with the right contractor early can help keep the build on budget and avoid expensive variations halfway through the project.
If you’re opening a new venue or planning a refit, this is how to make sure the build works financially before you start spending.
00:00 Intro 00:23 ROI and Build Costs 01:11 Hidden Expenses and Site Selection 04:18 Smart Design and Cost-Saving Tips 08:45 Working with Contractors and Tendering 12:04 Startup Chaos and Mental Toll
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