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Essay text:
S. economy. In
researching this topic, statistics numbers and percentages fly around routinely.
All give somewhat the same concept; in the starting years, most restaurants fail.
The most often cited statistic is the 95/5 ratio. 95% success and 5% failure.
Conversely, another favorite concept exists. Somewhere between 50 to 80 percent
of all new restaurants which open this year will fail within the first 12 months
of opening their doors. The same conventional wisdom also suggests that about
50% of the remaining restaurants will fail in their second year of operation and
another 33% in the third year...
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