Hi everyone, please I need an idea of how much it cost to set up a fast food restaurant like KFC or Mr Biggs. It's urgent please

chymeze:
Hi everyone, please I need an idea of how much it cost to set up a fast food restaurant like KFC or Mr Biggs. It's urgent please

Someone I knew that set up a Mr. Biggs franchise restaurant in 2007 took a loan of 50m to make it work. He was paying rent in a filling station ground floor building, the diesel generator alone back then was 4m, ice cream machine about 1.5m, very expensive 4 chamber oven about 6ft tall, installed an extractor to reduce heat and smoke at the production area and renovated the building to Mr. Biggs standard plus many more expenses. I don't know if that same amount can make it work in 2022.

terrafella:


Someone I knew that set up a Mr. Biggs franchise restaurant in 2007 took a loan of 50m to make it work. He was paying rent in a filling station ground floor building, the diesel generator alone back then was 4m, ice cream machine about 1.5m, very expensive 4 chamber oven about 6ft tall, installed an extractor to reduce heat and smoke at the production area and renovated the building to Mr. Biggs standard plus many more expenses. I don't know if that same amount can make it work in 2022.

Okay thanks. Do you have an idea of what his profits were?

chymeze:

Okay thanks. Do you have an idea of what his profits were?

Perish the idea of ”profits” when your starting a business or in the idealism face.

This is the mistake most small business owners made, with such mentality you'll end up closing up when you face the reality.

How to make the business survive for the first 6 months and how to sustain it for stormy 2 years, should be your questions.

chymeze:

Okay thanks. Do you have an idea of what his profits were?

Like 30k profit on 100k sales

Offpoint1:

Perish the idea of ”profits” when your starting a business or in the idealism face.

This is the mistake most small business owners made, with such mentality you'll end up closing up when you face the reality.

How to make the business survive for the first 6 six and how to sustain it for stormy 2 years, should be your questions.

I understand sir but I'm just trying to assess the feasibility on the long term

terrafella:


Like 30k profit on 100k sales

Okay thanks

chymeze:

I understand sir but I'm just trying to assess the feasibility on the long term

Best is to contact someone with on-hand experience, you can walk into any restaurant for all the info you need... I know this will be tough because not many will want to give the needed info... but you have to keep on trying, you can appreciate with a token.
It's better this way and it'll save you a lot of mistakes.