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I wonder how the numbers compare nationally. I thought restaurants has a tendency to close more often than any other business (30% close within 3 years). Also,
by syntaxing 8y ago
I wonder how the numbers compare nationally. I thought restaurants has a tendency to close more often than any other business (30% close within 3 years). Also, why is this only a phenomena in SF? The real estate price in NYC should be higher and the business seems pretty good for even the nonfamous restaurants. Even small coffee shops thrive like crazy here.
- boulos 8y agoCoffee shops have become nearly all day affairs. Like a bar, the key product has really high margins and you don’t need many employees. So once you sell enough {coffee, tea, beer, wine, cocktails} to cover your rent plus a handful of employees, you start making a (small) profit. tl;dr: Hot water is cheap!