Why Restaurants Fail and How to Prevent Them

Deciding to own and operate your very own restaurant is an incredibly rewarding business decision to make. Unfortunately, it’s common for fresh restaurateurs to overlook some of the most important qualities of the industry, resulting in 60% of independently-operated restaurants failing within their first year of business. These statistics further increase to an intimidating 80% failure rate for restaurants in their first 3-5 years. With unrealistic goals and poor planning, it’s easy to get caught up in a whirlwind of complications while trying to get your restaurant off the ground. Fortunately, all it takes is a little research and business planning to prepare you with some effective business strategies to optimize your restaurant’s potential for success! BUILD IT by Design has prepared a list of the top 3 reasons why restaurant businesses fail, along with with some great tips on how to prevent them: 1. Location Selecting the right location for your…