4 Reasons Why Restaurants Lose Money
It’s no secret that the restaurant industry is tough. It’s hard to get started and even harder to stick around long enough to accumulate a profit. According to a study done by Ohio State University, 60 percent of restaurants change ownership or close in the first year of business, and 80 percent fail within the first five years. But why is this the case? It’s true that failure is a common part of life in the restaurant industry, but it doesn’t have to be. Here’s a quick breakdown of four of the biggest dining faux-pas and how to avoid them.