The article below shows this is a tough business. Think of the distance to walk to the Dockside in bad weather as well. People are so mobile besides. Just because you live here doesn't mean you will eat here. Where do you go to eat out? This was a tough nut to crack. Ken
A 1991 study by hospitality professors at Michigan State and Cornell universities found a failure rate of 57 percent over three years and 70 percent after 10 years. Other studies have not shown restaurant failure rates any higher, Parsa said.
“After an extensive literature review on restaurant failures, I can find no evidence of a 90 percent failure rate anywhere,” Parsa said. “My own research also shows that the failure rate is only about 59 percent for a three-year period”