The restaurant with no order wait staff – don’t be crazy!
THE BIGGEST RISK FOR THE RESTAURANT INDUSTRY IS RISING WAGES AND FOOD COSTS. An American Express commercial once warned that 90% of restaurants failed in the first year. This is, to put it simply, bull!! Two economists decided to settle this using BLS data that covers 98% of U.S. businesses, the QCEW dataset. They tracked single-establishment restaurants from 1992 to 2011, and reality is only 17% of restaurants close in the first year. This is in fact a lower failure rate tha