albalfa t1_iw9rri3 wrote
I also lament the restaurants that are closing of late.
The reality is that 60% fail within their first year, and 80% go under within the first five years.
A lot of work, love, and hope go into opening a restaurant. There are real people and dreams behind those statistics.
Ovaltene17 t1_iwhvvm8 wrote
On Ramsay's Kitchen Nightmares TV Show, it seems many people use their life savings to start a restaurant when they are in their late 40s/early 50s - hoping to parlay their savings into a nice retirement fortune. Unfortunately most of them end up bankrupt and have then either lost the house, retirement, or both!
No-Potential-1777 t1_iwj9zqt wrote
Best way to make a small fortune in the restaurant business is to start with a large one.
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