103. 4 Tips to avoid UNEXPECTED Restaurant Expenses | Restaurant Owner Mistakes

When a piece of equipment breaks down, it consequently becomes an unexpected expense. Otherwise, you have set a budget for such an unforeseen event.

Being in this business for more than six years, we've learned so much from our mistakes, especially when it comes to our expenses. The cost of opening a restaurant is no joke, that's why we need to ensure that we do more savings than spending.

So here are four tips for you, my fellow restaurant owners, to avoid UNEXPECTED restaurant expenses:

1. Choose Proactive over Reactive Approach -set your equipment budget proactively, whether it's for maintenance, repair, or new purchase.

2. Always read the FINE print -do not just rely on sales reps and what they SELL you. Scrutinize the fine print and identify crucial information such as contract period, cancellation fee, and other hidden charges.

3. Beware of the technician's rate like travel fee, hourly fee, equipment parts, and expedited shipping.

4. Be organized - have a system in place, use a calendar to remind you of things that would incur additional fees if not strictly monitored, like insurance, tax, etc.

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