Open for business

From under construction to open You have done it, from under construction to finally open for business. Congratulations! After seemingly endless weeks of builders, painters, plumbers and shop fitters, you finally are open to customers. And while the initial feedback has been good, and there are even positive reviews on social media, you realise that your bank account is not in good shape after so many unexpected and expensive costs. Here are some reasons why the opening costs can blow out: • The costs of renovation was way more than originally quoted and budgeted for. • It took weeks longer to complete the build, which used up all the free rent period you negotiated with the landlord. • That great chef you employed turned out to be... not so great, and now you are employing expensive agency chefs until you employ another one. • The gun barista you hired is friendly, but inefficient - you're taking a hit on morning trade because of slow service. • The 2-group Coffee Machine is clearly not adequate for the busy times – a 3-group machine and a second grinder are needed to serve all the customers. • There were 6 staff on full pay doing very little as their start date was before the building works were finished. • The second-hand display fridge was making strange noises - the solution was a $1500 new motor. • Word-of-mouth promotion hasn't worked as planned - a month of punchy Facebook ads and letterbox promotions are urgently needed. A couple of months of PR support would also make a big difference. • The pots and pans you bought for the kitchen are way fewer than needed, so there needs to be an expensive trip to the kitchen supply company. • You discover that the exhaust canopy and ductwork has not been cleaned for years, creating a potential fire trap. Cleaning cost $1500+ • Toilets have backed up from an unmentionable blockage. Plumber costs $1200. • A visit from the Health Inspector pings you for wrongly-installed basins and wall tiles - fixing these will mean down-time and money.  

Keeping money aside for marketing

When you open a new business you need to spend on promotion, good service and quality product. This is not the time to economise. How can you find an extra cash to get through the first lean months and operate without stress? The best-made cafe and restaurant plans usually cost way more than expected, especially if it's your first venture. You've done the spreadsheets, bought equipment carefully, and negotiated hard with the suppliers. And you still end up short or cash for those critical early weeks, when promotion has to be maximised and the doors are still closed. This is the classic opening squeeze, between low income and unexpectedly high costs. You need 'working capital' - a term that you've heard, but it didn't mean much until you were caught in this situation. So, what is the answer to this common dilemma?

Silver Chef's Buy Back

Don't panic, Silver Chef's Buy Back program can repurchase and finance new equipment that you've purchased in the last 6 months, releasing funds and saving you from cashflow nightmares. Your situation here is not unusual, and flexible funding means you can make the first months of business as good as your vision, without cutting corners. Call SCK to enquire about this.

Silver Chef Rent Try Buy

Let us do the hard work and source the right equipment finance for your Restaurant or Commercial Kitchen. Our goal at SCK is to sell you products that add value to your business. We power your kitchen!