Codie SanchezFounder @ Contrarian Thinking

The Five Worst Businesses to Start in 2023 #shorts

7 Jul 2023 · 1 min

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Codie Sanchez breaks down why restaurants are terrible investments. The average restaurant sells for $198,000 versus $800,000 for other small businesses, and 60% fail in year one. NYC alone has so many restaurants it would take 22.7 years to eat at every one.

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These five businesses are the worst businesses to start or buy. Numbers don't lie so we're breaking down why these businesses are great if you like losing money or what I call the anti investment businesses restaurants. People hate this one because there are incredible restaurant groups and people who make millions. The average small business in the US sells for around $800,000. The average restaurant sells for $198,000. Why this huge disconnect? Because 60% of restaurants fail in the first year, 80% after four years. In order to eat at every restaurant in New York City It'd take you 22.7 years. 12 years just for Manhattan, five and a half years for Brooklyn, half a year for Staten island and three and a half years for Queens. You need to compete with all of those. I don't care if you're a foodie. If your buds all tell you that you should sell that perfect cheeseburger, don't do it. Restaurants are for humans that simply cannot exist without running one. You can make millions in it. It's just really.