According to the article “Why Do Restaurants Fail? Avoid These 12 Mistakes” on Lightspeed many restaurants are inclined to failure when they lack of vision, industry experience, operating capital, repeat customers, poor location, ineffective menu pricing and planning, failing to adapt, high staff turnover rates, inconsistency in food and service, mixing family and business, and obviously the competition. Have former Dekalb restaurants closed due to those mistakes? Tough subject when researching actually but not impossible. 2 years ago Tapa La Luna, the Tavern on Lincoln, Hink's Bar & Grille, Nina’s Taco Shop, Taxco Mexican Cuisine, Cassie's Corn Crib Cafe, The Pantry Cafe, Ren's Chinese Restaurant and Ristorante Di Acquaviva had announced closure; some temporary and some permanently. It’s normal that a restaurant goes out of business, every seven in 10 restaurants close after three to five years in business. After Covid-19 hit, restaurants had it hard, people went less and all new mandates their state had made it hard for them to operate. Plus all the competition can drive them out of business by force. Even if 30% of all restaurants go out of business within their first year the majority keeps operating for a few more years. Bobby Flay already knows that, “Nothing goes perfectly, especially when you're opening a restaurant”. As tough as opening a restaurant is, it’s much harder keeping it open after a successful opening.
20% is the success rate for all restaurants nationwide. But in order to have a successful restaurant you will have to hire and retain your staff and build a supportive environment. When restaurants are familiarized with profit and loss statements, creating a profitable menu (and learning how to market best-selling items) are just some of the key elements to success.
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