"Brooklyn1" <Gravesend1> wrote in message
...
> On Tue, 05 Oct 2010 19:17:15 -0400, LG > wrote:
>

>>Restaurants fail more than any other business. 20% make it a year.
>>That's why franchises are so popular and people are willing to share
>>their profits for a better shot at success.
>
> That 20% failure rate is for the franchised/chain eateries, those have
> a relatively high failure rate too. It's more like a 50% failure rate
> for non franchised eateries... it's near impossible to secure a
> personal loan to open any restaurant... people wanting a loan to open
> a restaurant need a secured loan, typically they put up their house,
> and it better have high equity.


I believe he was saying that only 20% of new restaurants stay open for
business for year. 80% don't last that long. Your 50% figure is generous.
In the food service industry 50/50 success/failure are good odds.