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Originally Posted by kane
It's a really tough biz. A friend of mine's wife is a chef and has worked at some restaurants. There was one she worked at that was always packed at night and did good business during lunch but was still on the brink of going under because it was mismanaged and they had too much overhead and the lease on the space was too high. I think it is something like 95% of all restaurants fail in the first year.
As others have said you need something good, a good location, good word of mouth and enough money to stay afloat while that word of mouth spreads.
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Crap.. there's a nice restaurant near where I live, good food, good name, decent prices... good location... but at any given time, there will be between 0 and 8 or 10 people in it... average 6... Can welcome 100+ people.. The restaurant is at least 3 years old... I cannot imagine the guy making any profit... But restaurants around are often packed... The Subway as exemple is making a killing...