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Right. The failure rate for restaurants is (depending on who you believe) up to 60% in the first year. That's the kind of business that would simply cease to ex
by NovemberWhiskey 4y ago
Right. The failure rate for restaurants is (depending on who you believe) up to 60% in the first year. That's the kind of business that would simply cease to exist if prospective business owners had to convince lenders to fund large capital costs.
- pessimizer 4y agoRestaurants existed before current capitalization structures and traditions, despite this being impossible.
- NovemberWhiskey 4y agoIf you're OK with your model for entrepreneurship starting with "first, be wealthy" then you can absolutely have restaurants that way - yes.
- jjk166 4y agoRenting property dates back to ancient times. It certainly long predates the modern restaurant. We have records of rent contracts 300 years older than the first known instance of a place where people could buy freshly prepared meals.
- deleted 4y ago[deleted]