If you are a restaurant owner or a bar owner, you already know restaurant industry is one of the most challenging industries to break into as a business owner. As diversified as it is, the over-saturation of the food service field leads to stiff competition.
This competition, compounded with the general obstacles of ownership, make opening a restaurant a nightmare if you don’t know what you’re doing. Restaurant startups require colossal time and capital investments that often prove to be unattainable or unmanageable.
For these reasons, it is no surprise that 75% of restaurants fail after the first few years. Furthermore, many of those that “survive” do not necessarily obtain desirable success to make it worthwhile after considering opportunity costs. Why then, would anyone dare enter this type of business?