3 strategic ways to open a food business in Perth and save money

Aussies are foodies. According to IBISWorld, the industry revenue for the restaurant industry in Australia could grow at an annual rate of 2% for the next five years until 2019. By the end of the forecast period, it should be worth $18.8 billion. It is also competitive, however. If you want to succeed in this business, you need to be strategic. That includes considering leasing your equipment, such as using freezer hire Perth has.

Here’s a rundown of tips to help you start a restaurant:

1. Bootstrap

Bootstrapping is a concept popular amongst tech startups, but any business can apply it in their strategy. It means using your available resources to start a company.

These can include savings, borrowings from friends and family, or personal vehicle for deliveries. You can still apply for a loan, but your resources should comprise much of your capital.

Bootstrapping isn’t for everyone, however, especially if you’re thinking of opening a well-known franchise. Growth may also not be as fast as you expect, but it frees your cash flow from being tied to high-interest loans and other debts.

2. Consider Renting Your Refrigeration Equipment

Refrigeration is essential in a restaurant. A chest freezer or a large fridge can store meat and other produce you should buy in bulk. Display freezers or fridges are great for showing off your ice creams, gelatos, cakes, and other desserts.

Refrigeration, however, can be expensive to buy and maintain. To give you flexibility, opt for a display refrigeration or chest freezer rental.

You’ll have a more accurate idea of your utility spending, and you can take advantage of the best, most modern types of refrigeration units. You also don’t have to bother yourself with maintenance.

If you’re looking for a freezer hire Perth has to offer, you can take a look at companies, such as Cold Solutions.

3. Comply with the Regulations

Opening a Perth restaurant means following a long list of regulations that guarantee the safety of your business and guests. These include:

  • Obtaining a liquor or alcohol licence on top of the restaurant or food business permit
  • Securing an Australian Business Number (ABN), which you need for taxation and registration
  • Applying for an Alfresco Dining Trading licence if you want to extend your seats towards public property or land (annual fee will be according to the number of chairs)
  • Following the safety and hygiene standards that apply to food handlers, supervisors, and other staff members who will come in contact with food
  • Having the right equipment (don’t forget that you can always rent chest freezer)

Non-compliance can result in bigger expenses for your business. For instance, if your drawn plan is different from the actual layout of the restaurant, the Perth government may ask you to redo it. It will also mean penalties and even revocation of your permits and licences.

Most of all, it is bad publicity for your business. It can affect your reputation in the community and can lead to your downfall.

Opening a food business in Perth takes time and needs a lot of money, but you have options. For example, you can opt for a freezer hire Perth company to give you more control over your revenues and expenses.

Perth has a thriving small business administration, which can advise and guide you throughout your journey.

It will be challenging, but if others can do it, you can too.