Business Model · Food & Beverage

The Ghost Kitchen

A restaurant with no dining room, no signage, and no walk-in traffic: just a kitchen that exists to fill delivery orders. The pitch is low rent and low build-out. The catch is that the apps that bring you orders also take a quarter to a third of every one, and you live or die by a screen you don’t control.

15 min experienceInteractive economicsBuilt from operator research
Read the launch plan: every step from deciding to opening, free →
01

The Snapshot

Is this worth your attention?

$150k to $600k
Typical annual revenue
single brand or kitchen
3% to 10%
Owner cash margin (SDE)
share of sales the owner keeps before their own pay
$40k to $198k
Cost to open
commissary station ≈ $24k
1-3 yrs
Typical payback
low capex helps
Med
Day-to-day difficulty
kitchen ops without a front of house
Low-Med
Absentee potential
still a kitchen to run

Cited sources Typical bands for this kind of business, compiled from the public sources listed under Sources and method; they are a synthesis, not figures copied from any one source. Estimates, not forecasts; a specific business varies with its location, lease, equipment and owner. Last reviewed 2026-07-07. smbnest is a self-assessment tool, not individualized advice.

A fit if you…

  • Want into food with the least possible build-out and rent
  • Are comfortable running a kitchen with no front of house
  • Will treat the delivery apps and your menu like a marketing channel
  • Like the idea of testing several virtual brands from one kitchen

Probably not if you…

  • Want the brand, room, and walk-in energy of a real restaurant
  • Can’t stomach handing 25-30% of each order to an app
  • Expect loyalty you control rather than rented from a platform
  • Need fat margins; this model is structurally thin
02

Step Inside the Layout

A live look at one tool inside

This is the actual 3D floor from the full model. Drag to explore it. Inside, you configure the space yourself and watch the economics move with every choice.

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Sources and method10 public sources, with the year and a link where the source gives one. The benchmark bands are smbnest's synthesis of these sources, not figures copied from them.

Sources & Method

Figures are compiled from the public sources below; the bands are a synthesis of them, not copies

How these numbers were built: commission tiers and sign-up fees come from coverage of DoorDash, Uber Eats, and Grubhub fee schedules (MarketMan, Rezku); food, labor, margin, and order-volume benchmarks from Toast’s ghost-kitchen economics; kitchen rent, deposits, permits, and technology costs from GoFoodservice’s ghost-kitchen startup guide; resale multiples from BizBuySell’s 2021-2025 restaurant benchmarks; survival rates from BLS Business Employment Dynamics; SBA loan charge-off rates from an analysis of SBA 7(a) loans originated in 2010-2019; and the cost to open from the opening kit, priced item by item from equipment dealers. No public source reports owner earnings (SDE) for delivery-only kitchens, so the margin band rests on Toast’s published profit range and should be read as conservative. These are starting assumptions; the moment you enter a real facility’s rent, your order counts, and your commission tier, your numbers should replace ours. Figures are current as of 2025-2026.

This file had no prior sources map. Commission and food cost figures are corroborated by Toast (toasttab.com) and a 2026 Rezku industry blog post on DoorDash/Uber Eats/Grubhub fee structures; both are third-party operator-facing publishers rather than primary platform disclosures, so treat exact percentages as directional industry ranges.

Government data
U.S. Bureau of Labor Statistics · 2024
Business Employment Dynamics: establishment age & survival
https://www.bls.gov/bdm/bdmage.htm
U.S. Small Business Administration · 2026
7(a) loan program: uses, maximum loan, guarantee, and terms
https://www.sba.gov/funding-programs/loans/7a-loans
U.S. Small Business Administration · 2026
Microloan program: loans up to $50,000 through nonprofit intermediary lenders
https://www.sba.gov/funding-programs/loans/microloans
U.S. Small Business Administration · 2025
Table of size standards: NAICS 722513 Limited-Service Restaurants $13.5M
https://www.sba.gov/document/support-table-size-standards
Industry
Rezku · 2026
Third-Party Delivery Fees in 2026: What DoorDash, Uber Eats and Grubhub Really Cost Restaurants
https://rezku.com/blog/third-party-delivery-fees-in-2026-what-doordash-uber-eats-grubhub-really-cost-restaurants/
MarketMan · 2023
Food delivery apps: DoorDash 15%, 25% and 30% commission tiers; Uber Eats $350 activation fee; no upfront cost for DoorDash or Grubhub
https://marketman.com/blog/food-delivery-apps-cost-restaurants
GoFoodservice · 2025
Ghost kitchen startup costs: commissary $1,500-$4,000 a month, ghost-kitchen facility $3,000-$10,000, deposit $3,000-$16,000, total $20,000-$60,000 for most commissary setups
https://gofoodservice.com/guides/how-to-open-a-ghost-kitchen-in-5-simple-steps
Market & valuation
CT Acquisitions · 2026
SBA loan default rates by industry: limited-service restaurants (722513) 10.8% charged off vs 7.9% for all industries, FY2010-FY2019 cohorts
https://ctacquisitions.com/guides/sba-loan-default-rates-by-industry-2026/
BizBuySell · 2025
Restaurant valuation benchmarks: SDE multiples 1.34× to 2.53× (quartiles), average 2.15×
https://www.bizbuysell.com/learning-center/valuation-benchmarks/restaurants/

This is just the surface

The full model is the complete, interactive deep-dive, and every business here is built to the same standard: a live economics simulator you tune to your own numbers, an interactive 3D walkthrough, a location scorecard, an owner-fit assessment, a buy-versus-build comparison, and the full breakdown of how it makes money and what quietly kills margin.

Monthly
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then $29 a month

Time to choose and start, then month to month.

$99 today for your first 3 months, then $29 a month until you cancel.

YearlyBest price
$199 a year

about $17 a month

The best price: a year to decide, open and run it.

$199 today, then $199 each year until you cancel.

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smbnest is a self-assessment tool. It does not give individualized financial, investment, legal or tax advice. Figures are estimates and benchmarks, not forecasts. Speak with a qualified financial adviser and a licensed attorney before you start, buy, finance or sign anything.