How do you calculate the overhead costs of running a restaurant?

The overhead costs of running a restaurant depend on the particular expenses associated with that restaurant. For example, an upscale restaurant in New York City is going to have much higher costs than a diner in rural America. Typically, overhead costs include staff salaries, insurance, rent, utilities, and other operating expenses.

What personality traits should you have to run a successful restaurant?

Anyone with enough drive and a good idea can be a successful restaurant owner. That said, as a business owner, you’ll need to be extremely self-motivated and comfortable working long hours. Plus, you’ll need to be able to lead a team and manage finances, all the while being able to cook! 

Is social media necessary to run a popular restaurant?

It’s not necessary, but it’s a great tool to help promote your restaurant. Social media is essentially free advertising. Many customers look to social media platforms to find out more about restaurants and keep up to date with the current menu and any exciting events happening. 

About the Author

Christopher Murray

Christopher Murray

Personal Finance Expert

Christopher Murray is a professional personal finance and sustainability writer and editor who enjoys writing about everything from budgeting and saving to unique investing options like SRI and cryptocurrency.

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