Running a restaurant is one of the most difficult business ventures. Even during the best of times, the competitive nature of the restaurant industry makes it difficult for many restaurant owners to see consistent cash flow — and as we all know, many restaurants did not survive the pandemic, and those that did are still [...]
The restaurant business is not for the faint-of-heart, but there are a lot of myths floating around about its success rate. An American Express commercial once noted that 90% of new restaurants fail within the first year, and although that figure was bandied about for a time, it’s far from the truth. A study by [...]
According to the national restaurant association, in 2017 the restaurant industry was the second-largest private-sector employer, providing jobs and careers for about one in 10 working Americans. However, restaurant operators faced a challenging business environment, something that’s par for the course in this highly competitive industry; studies by Professor HG Parsa, chair of the Department [...]
