Being in the restaurant business for quite some while now, I have seen a lot of restaurants which open and close within a short period of time. Or if they don't close, they just continue operating because the owner has a lot of money.
The main reason for most restaurant failures is poor management prowess. That will include cost control breakdown, no promotions, fraud or a misguided staff.
In the area I am in now, one of the reasons I have also seen is the lack of conceptualization. With this I mean lack of a defined unique selling proposition which will spell the difference from other restaurants. If coffee is in and there are more than a handful other places for it, when you decide to put up one, there has got to be a distinctive quality about your establishment for people to turn their attention to you.
A unique selling proposition or USP is not entirely something unique, weird or unusual about your restaurant but something that sets you aprat from the others. One way to spell this out is having a unique dish that only you serve in the city or area or maybe a manner of cooking. You can also do it with a different location, dining area design, theme, serving dishes and the like. If you are jumping into a cuisine or theme that has been in the area, your USP should be solid.
So if you have not thought of a USP for your restaurant, better get in to it now. It just might be your recipe for success.
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