Rough estimates on insurances for a small restaurant
DutchOtties
subscriber Posts: 1
Hi all,
We are in the process of analyzing what it would mean if we were to start a small (60-70 seat) restaurant. Since we would be coming from abroad there are a lot of things that are not really easy to find on the Net.At the moment we are trying to create a rough first budget to see if our idea is feasible. One of the things that we are having a hard time in finding any estimates is insurance.Now I have found Workers Compensation and Unemployment insurance costs, and got an estimate on general liability ($1500-$2000 pa). Now for the most difficult one (I think): Property insurance.Can anyone give me some idea of what one has to pay per year? Say I were to buy a property for $100,000 and spend $50.000 on remodelling, etc. Then take all other factors more or less average and place the business in Central Florida.Anyone?Thanks!Marco
We are in the process of analyzing what it would mean if we were to start a small (60-70 seat) restaurant. Since we would be coming from abroad there are a lot of things that are not really easy to find on the Net.At the moment we are trying to create a rough first budget to see if our idea is feasible. One of the things that we are having a hard time in finding any estimates is insurance.Now I have found Workers Compensation and Unemployment insurance costs, and got an estimate on general liability ($1500-$2000 pa). Now for the most difficult one (I think): Property insurance.Can anyone give me some idea of what one has to pay per year? Say I were to buy a property for $100,000 and spend $50.000 on remodelling, etc. Then take all other factors more or less average and place the business in Central Florida.Anyone?Thanks!Marco
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Thanks, but as we are not in the US at the moment, I was hoping to get some general idea about the height of the premiums from people here .But we will also be looking at an agent who might be able to give us these very non-specific quotes.