Restaurant renovation costs are always relative to the size of space, materials being used, labor etc. It can depend on a lot of different factors. As a rule of thumb, the minimum amount one should prepare in advance for building a restaurant from scratch should be no less than $200,000. Listed below are some other factors that will affect the total cost of renovation.
- 1. Tenant improvement funding from Landlord. Five to Ten percent of the total cost can sometimes be compensated for qualified tenants.
- 2. Existing Conditions. If you are only remodelling a restaurant, the average cost may start from $100,000.
- 3. Equipment Cost. Equipment cost ranges from $30,000 to $100,000 depending on what you are getting. If you are leasing, you may save the initial cost.
- 4. Exhaust fans generally cost between $15,000-$50,000 for multi-story buildings.
- 5. Walk-in refrigeration can cost anywhere between $10,000-$30,000 depending on size. A standard 8’x8′ refrigeration may cost around $5,000.
- 6. Gas line availability. Connecting gas alone can cost up to $10,000.
- 7. Labor factor. Contractor rate varies from state to state.
We have also previously been asked the question “Why is it so expensive to build a restaurant?” Please refer to this link for our answer.
If you would like to know how you can get a more accurate estimate for your restaurant project, read on the links below for more tips.