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Why do people open restaurants when the overwhelming majority of new restaurants go bankrupt in short order?
by zyxley 11y ago
Why do people open restaurants when the overwhelming majority of new restaurants go bankrupt in short order?
- radnor 11y agoI imagine a lot of them think, "It can't be that hard!" After the money disappears they realize that yes, it is very hard. Then someone else comes along, sees their failed restaurant and says, "It can't be that hard..."
- WalterBright 11y agoI began writing a C++ compiler by thinking "it can't be that hard".
- Scoundreller 11y agoBut you only had to exchange your time to learn, not your time and life savings (I hope!).
- tamana 11y agoHow much money does it make? Running a restaurant is easy, if you don't have to cover any expenses.
- learc83 11y agoThe vast majority of decent new restaurants fail because they don't have enough money to last until business picks up. Most small restaurant owners have just enough money to open, and they assume they'll be making enough to pay expenses within a month or two. But unless you're in a fantastic location, or already have a great reputation before you open, it takes time to build a steady customer base.
- rzzzt 11y agoAn article in Slate from 2005, describing the same way of thinking: http://www.slate.com/articles/life/a_fine_whine/2005/12/bitter_brew.html http://www.slate.com/articles/life/a_fine_whine/2005/12/bitt...