Ramsey - Second Contestant Committs Suicide
Paco wrote:
>
>
> "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.
I thought it was clear.
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