The statistics show that the rise in the business is a big reason that many try their luck here. Last year alone, the restaurant industry boasted up to 700 billion dollars in profits with almost a million restaurants all over the country. The market is booming, and it has been forecasted that this trend of economic rise will perpetuate for the next ten years. The question here remains, why are there so many restaurants in the market that go bankrupt in less than a year?
Many believe that it is a lack of experience that leads many restaurant owners to lose too much money. Others like to think that it is neglect in using the correct tools of the trade. Business owners think it is a little bit of both that leads most of these people to go bankrupt.
Owner of the well renowned http://bobbyv.com says, “The industry is strong, and there is a great demand for our product. The only problem here is a two pronged ideal that most owners are not aware of. First is that this business requires experience. Secondly, they are not aware of the correct tools to use for the restaurant. This is a concept that requires a person to consider things like hiring the right people, creating the perfect ambience and menu, as well as finding the right ingredients and equipment to use. These are considerations that are integral in running a business.”