The average cost to build a house is $248,000 , or between $100 to $155 per square foot depending on your location, size of the home, and if modern or custom designs are used. New home construction for a 2,000 square foot home runs $201,000 to $310,000 on average.
Average restaurant startup costs vary from a few thousand to a few million. According to a survey, the median cost to open a restaurant is $275,000 or $3,046 per seat. If owning the building is figured into the amount, the median cost is $425,000 or $3,734 per seat.
While there are not any industry barriers, poor business acumen, no management, and lack of financial planning among first-time restaurateurs are some of the primary reasons why restaurants fail .
Payscale.com says restaurant owners make anywhere from $31,000 a year to $155,000 . They also estimate that the national average is around $65,000 a year. Chron.com estimates a similar range, between $29,000 and $153,000 per year.
The most expensive part of the custom home costs is the cost of the finished lot. Based on the average custom home costing $428K to build , the average finished lot cost will be around $92K. This cost may be lumped into what’s known as the sales price, which is the most expensive part of any new home building budget.
Contemporary House Design for a Narrow Lot The cheapest house to build doesn’t have to be small. With two stories of living space, this contemporary house plan would work great on a narrow lot. The super-simple design and open floor plan give you a spacious feeling, while cutting back on costs.
The good news is, the lower threshold numbers show you that a quality home can be constructed in the $60 per square foot price range…and then you can add your personal touches from there.
Naturally, costs and revenues vary by category, concept, cuisine, geography and the economies of the business and entrepreneur. Typical restaurant build-out costs range between $150 – $750 per square foot, depending on the quality of materials used, construction costs, and other factors.
You can count on the following monthly operating costs for your restaurant. Rent and utilities (electricity, water, internet, cable, and phone): 5% – 10% of revenue. Food cost: 25% – 40% of food sales. Labor cost: Roughly 30% of revenue including management salaries of 10% Insurance varies by provider and type.
5,800 gallons per day translates into over 2 million gallons of water per year. That’s thousands of dollars per year, literally going down the drain. At a not uncommon rate of . 4 cents per gallon, this level of usage translates into more than $8,000 per year, but for many restaurants the cost is significantly higher.
Most Profitable Types of Restaurants Bars . Alcohol has one of the highest markups of any restaurant item. Diners. Food Trucks. In a recent survey, more than half of independent food truck owners said they bring in more than $150,000 a year. Delivery-Only Restaurants. Farm-to-Table Restaurants. Vegetarian Restaurants. Pizzerias. Pasta Restaurants.
Now is the best time to sell your food and beverage business. Buyers have cash but soon there’ll be a lot more sellers than buyers as the economy recovers.