Does anyone have an idea how much does it cost to start a restaurant in Central, Wanchai area? I am interested in opening an Italian American restaurant with 25 - 40 seatings. Any tips dealing with license and looking for space is also apprecaited?
Does anyone have an idea how much does it cost to start a restaurant in Central, Wanchai area? I am interested in opening an Italian American restaurant with 25 - 40 seatings. Any tips dealing with license and looking for space is also apprecaited?
Your question should be how much does it cost to operate a restaurant in HK as well. The rent is gonna eat you alive and your food better be good because you will have to have premium pricing.
Why go to a restaurant if you can have restaurant food delivered to your home?
Because of the atmosphere
Food quality, location (foot traffic=customers), rent. The first one is under control, more or less, by the owner (and/or chef). Location and rent is rather more tricky however. You need a location with good foot traffic to attract customers. Sure, there are some nice and successful niche restaurants in quiet corners of this city, but those are the exceptions rather than the rule. For most eateries, they have to be in a location with adequate foot traffic. Which goes to rent, the more foot traffc a location has, the more expensive the rent. And HK rent is exorbitant as it is. Which is why I noticed more and more restaurants are operated as part of a larger franchise in prime locations, since only a large franchise can afford the cost at those places...
I heard a restaurant that opened on a side street in Kowloon, of a similar size to what you are proposing, spent around 1mn hkd on decorating after moving to that location. They lasted around a year before closing as business was not sufficient.
are you looking at the cost before or after you pay for protection for both black and white shirts ?
You are better offer investing the capital in the stock market IMO. More liquid, less risky. Unless you are a superstar chef already well known or have access to one as a business partner, I think its a risky venture in Hong Kong. Even branded mall restaurants, where there is tons of foot traffic daily have very high turnover. And those are run by portfolio operators who have many other brands to absorb the losses.