| For many years restaurants have gotten a bad | | | | Business Administration about 44 percent of small |
| rap when it comes to perceived risk. Business | | | | businesses are still operating after four years. |
| experts and people in general are prone to citing | | | | Similarly, according to a 2007 study conducted at |
| "The High Failure Rate" of restaurants as a reason | | | | Ohio State University, 41 percent of restaurants |
| not to invest in or start restaurants. Most of us | | | | were still operating three years after launch. |
| are so use to hearing such talk we simply accept | | | | As someone who has owned and operated a |
| it as truth. If we were to ask those who claim | | | | restaurant in a major city, the enjoyment and |
| that restaurants have a higher failure rate than | | | | social aspects of being a restaurant owner fall |
| other small businesses to provide a references | | | | just below rock star, local celebrity, and city |
| for their claim, they couldn't. There aren't any | | | | mayor. A popular restaurant allows the owner to |
| credible research studies to support this myth. | | | | be at the center of community events. More |
| I recently published an article outlining how anyone | | | | importantly, if restaurant owners avoids the trap |
| can dramatically improve their odds of success at | | | | of trying to "Do-it-All" themselves, they can also |
| starting a restaurant business. The same day that | | | | enjoy a well balanced lifestyle. |
| the article was published a reader left a great | | | | The classic nightmare restaurant ownership |
| comment, which not surprisingly mentioned the | | | | scenario of long frantic days is the same for any |
| high failure rate of restaurants. For the benefit of | | | | entrepreneur, who does not graduates from |
| aspiring restaurateurs, restaurant investors, and | | | | working in his business to working on his business. |
| the restaurant industry, it's time to set the record | | | | Moreover, if restaurants were failing at the |
| straight. | | | | staggering 90% rate that some quote, it is |
| There is no meaningful difference in the failure | | | | unlikely that the restaurant industry would have |
| rate of restaurant start-ups and small business | | | | been growing at double digit rates prior to the |
| start-ups in general. According to the Small | | | | current recession. |