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> Most new businesses fail, especially in the restaurant industry The rate of restaurant failures is lower than the average for all new businesses. And it's p
by Mikeb85 4y ago
> Most new businesses fail, especially in the restaurant industry
The rate of restaurant failures is lower than the average for all new businesses.
And it's possible to have hit after hit in the restaurant industry. Most restaurateurs are just shit at business.
- bush-bby 4y agoSource?
- Mikeb85 4y agoCome on, this is a startup news board... Failure rate of startups is 90%, restaurants 60%. Both well known facts. You can verify in 2 minutes on Google.
- bush-bby 4y agoWasn’t an attempt at debating validity…just wanted to know more.
- Mikeb85 4y agoAsking "Source?" on a topic where some prerequisite knowledge should be required is a lazy Reddit tactic. But here, since it took me 30 seconds to find: https://www.forbes.com/sites/modeledbehavior/2017/01/29/no-most-restaurants-dont-fail-in-the-first-year/ https://www.forbes.com/sites/modeledbehavior/2017/01/29/no-m... There's other sources too covering different timeframes. It's all information in the public sphere. Stats Canada for example tracks a ton of stats about various businesses.
- bush-bby 4y agoI wasn’t attacking the point, just wanted to read more specific info :) (Also, sorry to inform you I am not a Reddit user) Thank you for linking an article.