There are many reasons why restaurants fail. With the variety of restaurant types that exist, each restaurant must distinguish itself from other restaurants to succeed, and if it does not, it is likely to suffer the same fate as most. The number one reason restaurants fail is that they cannot make enough money or profit. Many may think making money is the only factor contributing to a business’s success, but there are many more factors than just this one.
Many people think owning a restaurant is very easy; however, it is more complex than expected. Owning a successful restaurant requires passion and dedication for at least six days of the week for approximately eight to twelve hours a day. Knowing the food industry and financial and marketing expertise is also essential. There are critical factors that contribute to the success of any restaurant: