Restaurant business is seductive to many people that are successful in other types of businesses and think that they can easily transfer their resources, experience and talents to food service. Usually, they quickly find out its not like any other business.
I know lots of people who were successful in business that haven't lasted long (less than 12 to 18 months!) with a restaurant investment (and usually swear off ever doing it again
).
On the flip side, I also know lots of great restaurant operators (i.e. great food and service) who are lousy at adhering to basic business principles such as reinvesting in your business (i.e. don't raid the cash register!), expense management, marketing and not cutting corners that compromise your "brand" (no free bread anymore, reduced portions, lesser quality ingredients, out of menu items due to reduced inventories, etc.)
Add it all up and finding someone who is both a good operator and business person is a rare find. Thus, the high kill rate in the business. Maybe among the worst of any business type.
My observation is that the best recipe for success is a seasoned chef/owner who is also an excellent business person. It's still a tough business due to a finicky public but they have the best probabilities in my book for making it work.
