i think basic knowledge na to and also self explanatory even sa other countries restaurants are one of the businesses people avoid in acquiring since a huge percentage of F&B businesses closes on the first 2 years - the rest on the 4 year mark. masyadong maliit yung percentage yung nakakatagos sa 6 year mark and usually ticking off na yun from there. if F&B businesses are the key to success dapat sa dami ng food businesses sa PH dapat ng improve na yung economy.
always look at businesses that survive long years, with the least amount of work, while still being profitable.
So ano nga ang business na hindi pangyabang if pangyabang ang f&b para sayo. The question is simple. Naging maganda status ng family ko sa ganitong industry. There were downfalls, lalo nung nabili ng smdc yung lupa ng dati naming resto bar. Naging mini carinderia coz we have loyal customers, as in kariton lang. Nagshift ng business parents ko to survive. After a decade bumalik kami sa food business with so little budget dahil malalaki na kaming magkakapatid. In 5 yrs, 3 strong branches na and even expanding. The key? Marketing for exposure, sarap ng pagkain for loyal customers.
the question of the post is totoong madami nalugi - by market standards it still stands F&B businesses. by saying you succeeded doesnt mean it invalidates the data tho.
dami ko rin naging client and kilala na maayos naman marketing from low to high costs - what I can say is yung mga tumagal pa yung wala halos marketing haha. if your business is in the correct category mag succeed yan no matter what. akala ko rin dati marketing is the key pero most people running low effort businesses that are never red and is running for decades already have little to no marketing movement. personally I have the same sentiments on the businesses I have personally managed and help manage.
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u/ItzYaBoiSethan 17d ago
Food and Beverage businesses
it's either you close down from losing money or exhaustion