Where I live, there is a high density of restaurants -- no corporate chains either -- and they are all packed full of people most days. I'd say it is a simple m

Where I live, there is a high density of restaurants -- no corporate chains either -- and they are all packed full of people most days. I'd say it is a simple matter of supply and demand. There are so many restaurants because there are so many customers. But you are correct that the restaurant business is terrible from an investment perspective. For some people, the restaurant business is their calling and what they know well, can't fault them for that even if the margins are poor. It is like being a startup founder. Mostly a bad idea on a purely economic basis but many people feel compelled to do it.