The statistics are daunting – surveys have shown that anywhere from 60% to 90% of new restaurants fail in their first year. And in these difficult economic times, when consumers are cutting back on dining out to save money, the odds against opening a successful eatery have never been greater.

Still, thousands of new restaurants pop up every year. What separates the winners from the losers? The quality of the food and service are primary factors; but how many times have you fallen in love with a neighborhood bistro or a new pizza place, only to be shocked when they close their doors? Clearly, there’s more to running a restaurant than serving tasty entrees. (more…)