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Why Do Restaurants Fail? Part Iii: An Analysis Of Macro And Micro Factors, H.G. Parsa, Amy Gregory, Michael "Doc" Terry

Dick Pope Sr. Institute Publications

Restaurants are a significant part of American life. According to the National Restaurant Association (2009), total revenues for the restaurant industry exceed $580 billion with nearly 1,000,000 operating restaurants in the US; providing jobs for over 13 million people. The sizeable economic impact of the restaurant industry can be measured by the 4% contribution it makes to the Gross Domestic Product in the United States. In addition, the restaurant industry has been expanding at a steady rate of 2 to 4 % over the past three decades. In 2009, despite the economic downturn, the restaurant industry grew by 2.5% (NRA, …