>>60860981
>because most small businesses fail
i used to weigh this heavily because, as you said, like 50% fail within 5 years. then i looked at how many retarded businesses have opened and closed near me, and how anyone with a brain could immediately predict the demise of these doomed-to-fail enterprises. by this i mean there's no market survey to determine if the business is even viable, there's limited cash forecasting in place, there's no backup plan for sales shortfalls when the main business plan fails, etc.
a lot of these places are:
1) restaurants, which are always a terrible idea. well-run restaurants are prone to failure, even if you have celebrity chef branding to attract business. independent restaurants don't stand a chance. a lot of them have suffered from all of the following: bad front of house management (shitty or inconsistent customer service), bad back of house management (bad recipes yielding bland food and/or inconsistent quality food, constantly running behind schedule during a rush), and bad business management (no plans to attract business beyond word-of-mouth occurring during and shortly after the "grand opening" publicity.)
2) specialty retail shops aimed at consumers. flowers, trinkets, guns, whatever. you're forced to charge insane prices because you're getting assraped on your lease, i understand this, but no one wants to pay these prices when they can order it online for cheaper with 3 day shipping. it's a losing proposition. the only way you're going to survive and make money on specialty retail is if a) you support businesses rather than consumers and b) you have a large inventory of in-demand products, or can get them in stock immediately.
