New restaurants carry heightened risks of failure, often within the first year that the establishment is open. When making a decision to accept the risk and move forward to open a new restaurant, it is critically important to pay close attention to the details that could be most costly to ignore.
A major expense that many new restaurants face involves remodeling an existing property to fit the food that will be served and provide the right atmosphere for the patrons who will be drawn to dine there. If you are opening a new restaurant and planning to remodel an existing property to do so, here are some important discussions to have with a commercial construction company that could help you improve your chances of success.
Working with existing infrastructure, where possible
Even buildings that were not previously used for any type of food service business may have some type of existing infrastructure that could be utilized in a new restaurant. Walls, windows, HVAC equipment, plumbing, and other types of existing infrastructure with the potential to be utilized in the new project can help new restaurant startups save thousands on the total cost of the remodel. Discussing the need for the commercial construction company to work with existing infrastructure, where possible, should always be done before plans are drawn up, permits are obtained or any work on the site has begun.
Ensuring that lien waivers are required and obtained
Another important way to avoid risk and potentially save money is to ensure that lien waivers are obtained from every supplier, contractor, and subcontractor that will be working on the job. Failure to obtain lien waivers can put restaurant owners at risk of incurring serious financial losses during the first few years of their business when they can least afford it. Ensuring that the commercial construction company you hire understands your requirement for properly obtained lien waivers is an important part of reducing risk and financial responsibility.
Reserving the right to utilize pre-owned restaurant equipment
The equipment required to open a new restaurant represents a large part of the overall budget for the project. Restaurant owners who opt to reserve the right to utilize pre-owned restaurant equipment, where possible, may be able to reduce equipment costs by thousands of dollars. When planning to utilize pre-owned restaurant equipment, it will be important for owners to work closely with a reputable commercial construction company to ensure that adequate space, plumbing, and power supply needs for both used and new equipment are configured in the project plan.
For more information, contact a commercial construction company in your area.