The cost of opening a new restaurant will be dependent on the kind of restaurant you want to run and your entry level into the business – small scale, medium scale or large scale. With less than a million naira (N1,000,000), you can start a restaurant but if you plan on running something bigger and costlier, you will need more than a million naira.
The estimated cost of materials and equipment needed for starting a new restaurant is below. You can choose to exclude any of the equipment or material. However, I believe that all these materials and equipment are important for smooth running the restaurant.
Cost & Equipment needed to Start Restaurant
Cooking utensils – the cooking utensils include pots, gas cooker, stove, Tripod stand spoons, forks, Plates, Knife. Cost of cooking Utensils (estimate) = N200000 (one hundred and fifty thousand naira).
Cost of Tables = N15000 (fifteen thousand naira)
Cost of washing materials – hand washer and plate washer = N25000
Cost of Desks and chairs = N30000
Cost of Inverter = N50000
Cost of Air conditioner = 108000
Cost of Fans = N24000
Cost of medium size Generator plant = N48000
Cost of a TV set = N58000
Cost of Dstv / local antenna = N5000
Cost of Audio Music player etc for entertainment = N12000
Cost of renting space = N200000 (per annum)
So, the total estimated cost for starting a new restaurant business = N761500.
In conclusion, the above is an estimated cost for starting a standard medium scale restaurant business. It can be reduce or increase depending on your monetary capacity.