Rav launched Countertalk in 2019 to give the industry something it was sorely missing: accessible information, real resources, and a push for genuinely positive hospitality environments. So what’s the natural next step? Opening her own restaurant, of course. A place built on those same principles—with full transparency about every part of the process.

That restaurant is Gina, and we’ve never seen anyone share such honest, detailed insights into what it actually takes to open a place. Rav’s Substack is completely brilliant—whether you’re thinking about starting your own and don’t know where to begin, have already done it and want to compare notes, want to understand the true costs of hospitality… or you’re just plain nosy. She covers it all: (very) expensive mistakes, amazing how-tos from financing to business plans to branding, funny day-to-day dramas, hidden costs no one tells you about, smart shortcuts and must-know learnings. She’s living it so you don’t have to learn the hard way.

Today we’re giving you a taster, with an extract from one of her recent Substacks. If this leaves you hungry for more, sign up below!

In Club Gina, you’ll get:
✅ Transparent cost breakdowns—real numbers, no fluff
✅ A black book of trusted contacts—the people who actually made it happen
✅ Tips and tricks for saving money when opening a restaurant
✅ A step-by-step of how we negotiated the lease and got the keys
✅ A practical guide to gearing up for opening—what works and what really doesn’t

And in the paid version, she’s documenting the entire first year—the highs, the lows, the real cost of opening a restaurant. When they open, they’ll also be sharing:
🍽️ Exclusive recipes straight from the restaurant.
🎉 Behind-the-scenes updates on their first year in operation.
🍮 Invites to dessert masterclass evenings and exclusive events—watch a demo, taste everything, talk all things food.
🎟️ Lotteries for free meals.
🔥 Invites to tastings & subscriber-only dining perks.

READ THE EXTRACT BELOW:

THE HIDDEN COSTS OF OPENING A RESTAURANT – WHAT NO ONE TELLS YOU

Before we even stepped foot into our site, we had already spent £181,900.12—and that didn’t include VAT. The biggest chunk? A £135k premium plus a £13k security deposit (and that’s before fit-out, staff, or equipment).

I remember the exact moment we realised just how much we’d already committed. It was a mixture of excitement and sheer panic. Up until that point, I’d assumed securing a site was as simple as paying rent, a bit of deposit and signing a lease. How naïve of me. The reality? A financial commitment so intense that it can make or break you before you even get the keys.

Had I understood commercial property better from the start, I might have saved money—or at the very least, been mentally prepared for what was coming. There are definitely costs I could have avoided, and I want to break down which ones were worth it, which ones weren’t, and how you can protect your own pocket if you ever go through this process yourself.

A small but crucial tip: any VAT you spend during pre-opening can eventually be clawed back, and sometimes you can set up an arrangement with HMRC for monthly VAT returns. It’s worth keeping in mind when mapping out cash flow.

Beyond the numbers, one of the hardest parts of this process was proving my worth—over and over again. I get why. I’d never owned a restaurant before, but having to repeatedly sell myself—to banks, finance people, potential investors, the tenant, the landlord—was draining. Every conversation felt like a test, and there were plenty of moments where it knocked my confidence.

In the end, I didn’t secure investment. And weirdly, that turned out to be a good thing. I’ve made the financials work without it. I’ll dig into the investment conversation in the next newsletter because it’s a huge topic worth unpacking. But for now, let’s talk about the costs you need to know about before you even get the keys to a space.

What is a premium, and why do you pay it?

In commercial leasing, particularly in restaurants, a premium is an upfront payment to the current tenant for the right to take over their lease. It does not grant property ownership—just the privilege of inheriting their lease terms and securing the location.

Here’s why premiums are paid and some factors to consider:

• Location & Demand: Premiums are common in high-demand areas with limited availability, reflecting the value of a prime spot.
• Condition of the Space: A turnkey space with essential fittings commands a higher premium, while a lower premium may mean costly renovations are needed.
• Leasehold vs. Freehold: Most restaurant spaces are leasehold, meaning you rent from a landlord and often pay a premium to take over an existing lease. Freeholds, where you own the property outright, are rarer and significantly more expensive. You are also taking on more risk especially if you are buying a freehold with flats above it (something I found out when I tried to enquire about a freehold on the high street).
• Equity in the Site: A premium can reflect the value of an established site—such as an existing customer base or strong location brand recognition—making it worth paying more.
• Kitchen & Equipment: The premium often excludes kitchen equipment. Outgoing tenants may remove everything (ovens, refrigerators, etc.), requiring you to buy or negotiate separately, adding to setup costs.
• Negotiation: It’s important to assess the premium based on what you’re getting. You can often negotiate on the price if you believe the space requires substantial work or doesn’t fully meet your needs. Comparing similar sites helps determine if the price is justified.

Premiums are a standard cost of leasing prime commercial spaces, especially in high-demand areas. While they may seem steep, they can offset long-term costs compared to starting from scratch. Some restaurateurs in London avoid premiums and secure long rent-free periods (over a year in some cases), but they often face higher annual rent and business rates. For context, a restaurant in Soho may pay over £100k per year in rent.

Breaking down our pre-opening costs

So, where did that initial £181,900 go? Here’s a breakdown of some of our biggest pre-opening expenses:

• £135k premium – unavoidable.
• £13k rent deposit – standard.
• £7k interior design work – BIG REGRET
• £12k restaurant agent – necessary (for us)