> So, why are the margins so bad anyway? Well, it starts with the fact that the industry as a whole shot itself in the foot when it started competing on price.
Started? You're always competing on price until you hit a certain status. Restaurants are low-margin if they offer a commoditized product.
They're also up against time. People lose interest in restaurants, and if they can't maintain enough business a few years after opening, they're not going to make it.
Started? You're always competing on price until you hit a certain status. Restaurants are low-margin if they offer a commoditized product.
They're also up against time. People lose interest in restaurants, and if they can't maintain enough business a few years after opening, they're not going to make it.