Although there is disagreement about the rate at which restaurants fail — with some research indicating a rate of 17 percent in the first year and others as high as 90 percent — the real takeaway should be that preparation and contingency planning are central to every restaurant's success.
Restaurants don't usually fail for just one reason. It's a combination of issues that build upon one another, stymieing any forward trajectory and growth. But when you are proactive and preemptively address the common reasons why restaurants can't get off the ground, then you substantially increase your odds of success. Here are 10 common reasons why restaurants fail, along with solutions to avoid each one.
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Legal Disclaimer: The information I publish is not legal advice but rather is intended to prompt a discussion on best practices in human resources. Further, federal and state laws are amended frequently and vary significantly from jurisdiction to jurisdiction. Therefore, the published information may not be current at the time that you read it or it may not be applicable to your jurisdiction. As such, you should not rely upon any of the published information without first consulting directly with Restaurant HR, legal counsel, and reviewing your local, state, and federal laws as well as any applicable industry practices and company policies.
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