Nowadays, many people are taking working from home to a whole new level. If you know how to go about it, there’s practically no business you can’t do from home. Also, pop up restaurants are all the rage at the moment, so if you have amazing cooking skills and some space and time to kill, why not turn your home into a restaurant?
Will it be easy? Probably not. But it’s doable when you know precisely how to go about it. Fortunately, these days, you don’t need a separate designated space to open a thriving restaurant. If you’re looking for the best way to convert a residential home into a restaurant, here’s what to do.
1. Put your finances in order.
Starting any kind of business is a difficult feat, and boy does it wreak havoc on your pockets. However, you have to spend money to make money, right? Before you get that restaurant up and running, ensure that your bank account is in the right shape. Cash-out on some investments, cut down unnecessary expenses, and re-evaluate any loans you’ve taken out. In fact, it may be a good time to look into refinancing your mortgage loan.
A good refinance home loan option will take some load off you. This is when home loan sites come in. These online platforms allow you to compare all kinds of loans and insurance offers on the market. You can sift through one moneylender after another to find the most suitable mortgage rates. In addition to all this, the sites generally offer ample information on home mortgage rates.
On top of all these great benefits, some sites also list providers of new mortgage loans, health insurance, car insurance, business insurance, and energy comparison. Remember to check your credit score beforehand to get an idea of what kind of interest rates you can expect.
2. Take care of your kitchen.
Designing your kitchen is an essential part of opening any restaurant, so this is a crucial step to take. The kitchen is your primary domain besides the seating area. This is why aspects such as ventilation, fire safety, storage, water disposal, and equipment must be implemented carefully.
If you’re on a budget, why not consider used restaurant equipment? This is an excellent money-saving option when decorating your space. You can find a wide selection of used equipment on sites like the Restaurant Warehouse. This is a Seattle-based commercial kitchen equipment supplier that has been offering affordable options since 2014.
From them, you can source a new oven, slicer, fryer, dishwasher, refrigerator, ice machine, cooler, grill, pan, among other kitchen accessories. They also provide restaurant equipment financing for purchases over $100—with no down payment requirements.
What’s more, if you require the equipment urgently, a next day delivery service is available.
3. Get all the necessary licenses.
By all the necessary licenses, we’re mostly referring to a liquor license, and a few others. Just because you’re running the business from your home’s comfort doesn’t give you a free pass on the legal aspects. If you’re going to serve any alcohol with the food, don’t underestimate the implications of not getting a license.
Besides a liquor license, also consider getting a Public Place of Amusement License if you’re entertainment (such as live bands) will also be part of the restaurant service. Begin with doing the necessary research on the required licenses of your state. Altogether, it’s an important step when you’re still navigating how to open a restaurant, whether it’s in your residential home or a commercial neighborhood. It’ll be a pity if you have to shut everything down because of some missing paperwork, so ensure you have all your grounds covered.
Starting a restaurant is never easy, but with the right planning, a home conversion can be a great way to make money and become the talk of the neighborhood.
