5 Alarming Reasons Why Restaurants & Food Businesses FAIL
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👀 ABOUT THIS VIDEO
Starting a restaurant is no easy task. Keeping it open is another feat. 60% of restaurants fail to survive past their first year. But why do so many restaurants and small businesses fail to survive? What common restaurant mistakes or top reasons restaurants and F&B shops are making?
You've probably heard of that 60% failure stat before. That's one ugly and depressing number to hear. As a F&B shop owner, previous restaurant owner, and small business owner...it is a number that I see as a reality. It's tough. Starting a restaurant is already tough, but keeping it open is a whole 'nother beast.
Why do restaurant businesses fail so often? What is it about them? There are 5 reasons and common mistakes that I see new and novice restaurant owners make quite often...that end up costing them their whole business.
So if you're looking to learn why restaurants fail, common restaurant mistakes, why restaurants fail, a restaurant owner looking to avoid restaurant failure and closure, or an upcoming business owner looking to start a restaurant or in the process of starting a restaurant, keep watching!
5 REASONS WHY RESTAURANTS FAIL TO SURVIVE
• 5 Alarming Reasons Why...
• 5 Alarming Reasons Why...
#whyrestaurantsfail #startingarestaurant #wilsonklee
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👤 ABOUT WILSON:
I’m Wilson, your new restaurant business partner. I’m here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) it’s been my mission to share this knowledge with people like you who have great ideas, but just can’t seem to break through. If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
I’ve helped hundreds of restaurant owners and entrepreneurs create explosive Food & Beverage businesses. I’ve been awarded Top 30 Under 30, Young Entrepreneur of the Year, Top 10 Emerging Entrepreneurs, and recently a Forbes Business Council Member.
Find more great resources, check out www.wilsonklee.com/
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Still waiting on a response to my previous question You mentioned after expenses/tax you retained 10k after 30k in revenue per month. How is retaining 33% possibly. Can you clarify
@@VuNguyen-nd1md i thought i replied to that? typically speaking account for 25% for COGS and 25% for laboour. our rent is $2k/month. so that accounts to less than 10%. you can do the calculations... im not saying that on a yearly basis we make 33%, it levels out with good months and bad months. hope this helps!
These frightening reasons are: 1. Location 2. Improper Management 3. Ego 4. Not Knowing Numbers 5. Always running a promotion. This is truly a masterpiece to prevent business failures. 👏 May most of the restaurant owners know these beforehand to increase the chance of success. Thank you for sharing, Wilson! 🙏
you probably dont give a shit but does anyone know a method to log back into an instagram account..? I stupidly forgot my password. I would appreciate any tips you can offer me.
@@gaelkenzo2532 reset your password
Wilson, you always give great information. Thank you!
You are very GENEROUS, I am the owner of restaurants. One of my restaurants started 2008 , mean that it is in boom point for 12 years. I know the hassles. And you points out all these hassles. You put all the important points in your 10 strategies. And in this specific video about restaurant failerity cases . THANK YOU VERY MUCH AGAIN! DINP TRADING from Ethiopia
Thanks for stopping by!
Dude. I can’t believe I found you, you are a gem!!! My parents have owned a restaurant for 20 years together but have never expanded and they are struggling! I’m trying to help them out but it’s quite stressful 😅 thank you for the content. Subscribed👍
Thank u very much. for sharing your knowledge and experience
Thank you very much. Very informative presentation. I really enjoy this.
Glad it was helpful!
Amazing videos, thank you for sharing your knowledge. So excited to open my restaurant
Best of luck with the new shop! Make sure to hop by our FB group community to join other aspiring restaurant owners!
thank you for all your informative videos, just got into it and i must say you seem like you know what you are talking about !!
Glad you like them! Hop in our FB group if you have any questions
A very insightful video. When you work to avoid failure reasons you have to work on unique selling propositions as well to overcome business challenges.
Absolutely!
I'm so glad he mentioned proper treatment and trust of staff. He's 100% right that if a business owner looks after their staff, their staff will look after the business.
I have found that our staff are worthless. I pay them big wages....yet they steal daily. Do neg reviews on our restaurant so they do not have to work. Make guests sit in drive thru for 45 minutes. Have sex in parking lot. Sell drugs on property. I fired about 50 people so far.
i have been watching your videos for weeks now and they are amazing. Can you please do a video on how to you raised for your business
Thank you very much for your important points.
Glad it was helpful!
Wow, only 6 likes? You deserve way more subscribers
i agree. :P
Look at it now, it's all about time, and patience for some people that already put in the work.
This video was everything. I am now a huge fan of you as i walk through my journey to owning my first restaurant.. thank you one again
For a one time payment of $100,000, we can set up a meeting where I talk you out of it. My offer is actually a bargain considering what your professional and personal life are about to endure.
Great information! Any insight as to what business concepts will be trending in 2020?
stay tuneddd :)
Thanks for the vid!
Thanks for stopping by! Let me know if you have any other topics you'd like me to cover :)
Thanks for core point of F&B business it help and wake up call for who are not experience in this industry.
first time viewer, I like what you have to say I agree to be kind to your staff and you get back 10 fold. ps, it's nice to see a KZheadr reply back to comments and interact good job. Robert from Canada 30+ years in the Pizza industry. semi-retired now tho
Thanks and welcome Robert!
Thanks mate. Very good information 👍👍🙏🙏
Thanks for tuning in!
Thank you wilson for sharing this information
My pleasure Taym!
Very informative !
Glad you found it helpful!
I recently started a small food business at home. It is only a block away from the hiway and we are only taking orders for pickup& delivery. I invested in takoyaki, fryer and steamer and I plan to put tables and chairs out front. Is this ok? So far here in our town we are the only seller of takoyaki.
Good video and nice Information. I’ve been in the food industry for 36 years it’s a lot more to it than what you saying.
I agree you need good customer service clean restaurants good food and good prices good man just surround the restaurant and supervisors and good employees
Thank you Wilson, it's really a very important and informative video for me now. Luv from Assam,india.Wish you all success in your years to come.
Thanks 🙏🏽
thanks! :)
Accepting criticism point reminds me. one time I want to chinese restaurant and unfortunately the food was really bad and the old waitress (I believe she was the owner) came to us and ask how was the food. And I told her it was bad and surprisingly she told me this is how it test. I laughed and left the restaurant and never came back
Hey love your videos!! any tips on buying an existing restaurant ? I am thinking of buying it from a family friend. Thanks ☺️
thanks man! thats a great idea for my next vid! thanks! email me and i will send you some resources - wilson@720sweets.com
Wilson K Lee thanks for the quick response., will do and can’t wait to watch the video.
Hi Wilson! Would you be able to share that with me too? Thanks! All your video contents are great!
Any tips on opening a dessert parlour?
Thank u for This
:)
Hello, kindly elaborate on the $5 Rule
Love the $10 rule!
Does this apply to a franchise fastfood resto?
Would love to know more about the link between the numbers and promotions
what do you mean? objective of promotions is very important. if you are planning to run a promo for branding purpose, then the profits/revs will not be a KPI to gauge how successful the promotion is. it will be the number of eyes and how much people know about your brand. hope this helps.
You are very knowledgeable Wilson. Did you get business degree?
What does a business degree have to do with this?
Really good
Thanks for your videos please am from cameroon and i have a worry i am running a restaurant and i ront think i am making any profit it has been running for 6 months but all i do is pay salary but no extra savings for expansion
You'll want to really inspect your business health. I have two videos on that topic to see whether you're in trouble or not...
I work in a restaurant and my pay perfect but the refuse to give us our breaks I also see ppl leaving whenever they want causing the rest to get screwed so the pay do sound great but the job is unhealthy where I work
❤thanksssssss
I appreciate what you said about ego...many businesspeople with ego I tended to not go back to and some even actually hurt me. Every complaint is a hidden request... And honestly you are creating such valueable content. You are smart, successful, and straightforward. You are definitely goals. Thank you 😊
tysm
Thanks
😊
Why is it that after all this pandemic Restaurants have made strict rules for group reservations ? Like charging you if people from your party don’t show up … just one check …. Etc etc they are making very difficult for parties of 6 and more
great video
Glad you enjoyed it!
Hi Wilson..... i have no work experince at a cafe... but its my dream to start a cafe... so is it advisble for me to start a cafe without a work experience... but i have been doing so many research on cafe and have been watching so many videos about it... your videos and other videos and face to face comunication with cafe owners... but some advise me that i should not go for it without cafe work expernce.... what do you suggest ???
If you're able to get that experience then 100%. That way you get a feel of what it is like being on the other side (not as a customer). You say it is your dream to start a cafe, but you haven't got a real taste of what it is like. What you think it is like could be VERY different than reality and you doing it day in day out. Even as a barista you atleast see if you like the pace, the servicing, etc. And all those will help you later on :).
@@WilsonKLee thank you wilson
Problem I have is they don't wipe their damn tables down.
Great video overall, maybe tone down a little on the sounds when new text comes on the screen. It gets a little annoying hearing it so much.
i actually agree with you.. too bad this vid is already up. the new vids have toned down on those already :)
Stop sounding nasally Nick
I may not be restaurateur, humble customer merely, but main (sole) reason my foot never stand in many of them again was that food quality dropped rapidly in most of them as owners tried to improve profitability. And I mean in a worst way (spoiled, dirty, artificial additions, etc.) rather than pure efficiency (like McDonalds founders did), class (see vanilla), reducing variety of choice (less menu options) or perceived component of quality (bit less fancy, bit less tasty, similarly safe to your health). Then you have many people involved in making the food, so ethics (doing your best and I do not mean performance) are very important and situation there was far from awensome, one unethical person is a risk, two disaster in making since redundancy level for cooking is around 1 (for example: good product - correctly stored - correctly prepared, you can get away with one getting messed up, but even just two can get dangerous very quickly).
You left out the most important reason. Restaurants are the ONLY business people get in to without knowing what they're doing. I know how to change my oil, but I wouldn't dare dream of opening a mechanic shop. Yet you hear it all the time in the restaurant business. You're a great cook, you should open a restaurant. Being a good cook is probably the 4th or 5th most important thing. Most of these tips could be summed up with 1 point, people don't know what they're doing.
Would you mind to making music low , because you are Amazing talking.
gone in newer vids!
I think over the first year its more like 99 percent nationwide.
This is good. Unlike some who are saying I quit because of my daughter🤣🤣🤣
Oh noooooo haha. Thanks for tuning in!
Great video but that sound is so annoying
Hi i am a TV channel holder and i found your video channel very intresting and amazing. Is it possible if i use your video under credit and i will post it with commercial use on my TV channel named 'AsiaTVN and InspireTVN ' on Roku and Amazon fire tv. If you allow, please reply back as soon as possible and give me the video attribution e.g.thumbnail image , tags and any links... Thank you Regards, InspireTVN and AsiaTVN
email me the details. hello@wilsonklee.com thanks!
Man do something about your sounds effects please make it stop!!!
Do something about helping his stage production more constructively. Than criticizing
We don’t need that many sound effects to prove important points, like saying we’re dumb and can’t understand the importance of message. I agree Also the echo Great info just hard to stay listening with all the music and sound effects.
It sounds like he's banging his arms on the desk
I guess sleeping with one of your staff isnt a good idea as well.
=O please share your story
U tell this to the owners it’s guna go out the other ear
I love you
thanks!
Mention the 6 things somewhere to refer please
Thanks for sharing im working on my own restaurant 🫡
Wilson, you need to turn down the volume of your music and improve the quality and the volume of your voice. Your material and advices are great but your music is out of wack. Get rid of the sounds effects in each bullet point. I’m 60% of the video and really tired to ear those noises.
Took out the music completely in all my newer videos :)
I came to the comments because these bullet point noises are painful. I love your videos but this one is hard to get through.
That sounds when the text comes on is so irritating. Take it off please, not angry , just very curious what that was and it took my attention from what you were saying.
It has been changed in my recent vids
Your other video says 80% of restaurants fail in the first year, now you are saying 60%.
Clean your damn tables!!!!
the music is very distracting from a good message
took it out in all newer vids!
There is only one reason = Customer dont want to spend money 😂
covid 19
😆
Do u really have any experience in restaurant industry? U sound like u read these in a book n now delivering
Did you really watch all my videos and did research on me before asking that question? U sound like you watched 1 minute and became skeptical 🧐
And you have run successful restaurants? I don’t think so.
Thank you. I help to improve your numbers by one Like and one subs.
too long talking.....
maybe not the right channel for you then
Thanks
No problem! Best of luck!