Thinking about starting your own business?
While starting a restaurant is exciting, it’s also time-consuming and one of the toughest businesses to successfully launch. In fact, 60 percent of restaurants fail in the first year.
We’re not telling you this to temper your passion. We’re merely pointing out that if you want a successful restaurant, you’ll need to invest some serious time and money.
Why do many restaurants fail?
What’s the biggest reason for failure? Lack of planning. Before you ever make dinner for a customer, you’ll spend a lot of time figuring out every detail of your restaurant. From kitchen appliances and menus to floors plans and staff selections, the planning stage will make or break your restaurant.