[Feb 23] Why Restaurants Fail? A Conversation with Joe Calloway

Investor · Pittsburgh · Member since 2015 · 16 posts · 4 votes

Around 60% of new restaurants in the US fail within the 1st year. Why Do They Fail? Come and join us for our next ULI Pittsburgh Young Leaders Group (YLG) event on Wednesday, Feb 23 2022. We invited RE360 founder Joe Calloway to share his unique insight on the economics of owning a restaurant, and why it is sometimes better to be a real estate owner.

Door opens at 4pm, snacks and drink will be provided.

Date: Wed, Feb 23 2022, 4pm-5:30pm EST

Where: Arlington Beverage Club , 1226 Arlington Ave, Pittsburgh, PA 15210

Register Now

https://www.eventbrite.com/e/u...

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Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
4y
#1....they get too big of space vs thinking small. How many people go in for sit down Chinese food for example vs take out....Often I see these giant caverns of empty tables.

#2. No marketing.

#3. No research to know if people want their food.....the owner loves freeze dried Space Food, but no one else does. Just opening the doors does not mean people will flock to the restaurant and make it successful.

#4. To many partners who want to eat and drink free and let their friends and family eat and drink free....and make giant profits.

Best way to end up with $1mil in the restaurant business is start with $2 or $3mil.

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