Facing Your Biggest Fear: Restaurant Failure

Every new business owner faces the same dilemma: what if it doesn’t work out?

Well, it’s not as bad as you think. According to the U.S. Bureau of Labor, 75 percent of new businesses survive their first year. But the challenge continues as 69 percent survive the second year and only 50 percent make it to five years.

But just because the data says so, doesn’t mean you will just let chance dictate your fate. By learning about the most common mistakes many restaurant owners make, you increase your chance of surpassing the challenges and succeeding in your business.

What are some reasons why restaurants fail?

Lack of ExperienceIt takes a great deal of experience with your craft to start a business and make it work. Just because you know how to cook and you cook well doesn’t mean you’re all set to succeed at owning and operating a restaurant.

There are many things you should learn about before you launch your restaurant business. That includes managing people and resources…