Why Restaurants in Nigeria Fail!
Instability in business and the other, lack of growth and other pitfalls have plagued restaurants in Nigeria.
Food is good business, but food business is also serious business. Growing up in Lagos Mainland, I have seen Porsche restaurants come and go. And local restaurants that thrive for over fifteen years without an increase in revenue or a change in location.
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With the two business ventures, I found a major challenge. One, Instability in business and the other, lack of growth. What could be the major challenge? Have restaurants stopped being productive all of a sudden?
I decided to move out of my sphere, thus, I started studying the emerging trends of restaurants business. And here’s my discovery:
Although stagnancy and retrogression might have plagued a lot of restaurants, there are still thriving world-class restaurants that deviate from the norm.
The big question is: why is it that most of the restaurants suffer failure or stagnancy? Becoming a hospitality consultant with C&J has answered that question.
“The restaurant business is not for the faint of heart ... or stomach.”
There are a lot of reasons why restaurants fail. In fact, statistics show that about 60 percent of new restaurants fail within the first year. And nearly 80 percent shut down or change ownership before their fifth anniversary.
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At Curzon & Jones, we have studied the market and are ready to help failing restaurants regain balance in terms of revenue generation, marketing, digital marketing and sales.
Book a one-hour FREE CONSULTANCY with us today! Call 07013360604 to get started.