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<blockquote data-quote="Allen" data-source="post: 292933" data-attributes="member: 389">Restaurants are a low margin business a lot of the times.&nbsp; When I was in the Corps and taking some college coursework, one of my favorite teachers was a retired CPA who specialized in restaurants.&nbsp; Kind of made sure I never wanted to own one after taking a few classes from him.That last part though seems to be strictly me, how many restaurant setups do we collectively know about in populated areas that don't have a new proprietor in the door within a few months to a year of a given restaurant calling it quits?&nbsp; Most of the time a restaurant fails can be attributed to too high of overhead (paying too much for the lease or property purchase), the old Green Mill in Bismarck seemed like a great example of that.&nbsp; I went there often and thought they were doing a brisk business, and then they closed (some of which may have been the new no-smoking laws).&nbsp; I heard once how much the bank that's now there paid for that lot and it all made sense, nobody in their right mind would pay that much for a restaurant location. But a bank sure will, and what do you know...they're still in business.One local exception is the old downtown Pond/Lucky Ducks here in Bismarck.&nbsp; Again, heard once what the owner was asking for it and just about died laughing.&nbsp; Sounded like a surefire recipe for bankruptcy.</blockquote>

[QUOTE="Allen, post: 292933, member: 389"] Restaurants are a low margin business a lot of the times. When I was in the Corps and taking some college coursework, one of my favorite teachers was a retired CPA who specialized in restaurants. Kind of made sure I never wanted to own one after taking a few classes from him. That last part though seems to be strictly me, how many restaurant setups do we collectively know about in populated areas that don't have a new proprietor in the door within a few months to a year of a given restaurant calling it quits? Most of the time a restaurant fails can be attributed to too high of overhead (paying too much for the lease or property purchase), the old Green Mill in Bismarck seemed like a great example of that. I went there often and thought they were doing a brisk business, and then they closed (some of which may have been the new no-smoking laws). I heard once how much the bank that's now there paid for that lot and it all made sense, nobody in their right mind would pay that much for a restaurant location. But a bank sure will, and what do you know...they're still in business. One local exception is the old downtown Pond/Lucky Ducks here in Bismarck. Again, heard once what the owner was asking for it and just about died laughing. Sounded like a surefire recipe for bankruptcy. [/QUOTE]

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