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Money and Finances
Reply to "Restaurant owners / Small business what is the survival strategy?"
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[quote=Anonymous][quote=Anonymous]Why do so many people open restaurants when the margins are so low? To turn a buck, seems like it takes an awful lot. I worked in restaurants when I was young. It's hard work.[/quote] Ego. For the individual owners, I can see a lot of them just like to brag. But in a good year - the profits on alcohol are extensive. And if you 'break out' like Wolfgang Puck or Gordon Ramsey or David Chang (and all of them think they will) its very easy to get extraordinarily rich without a degree or coming from wealth. Also money laundering. [/quote]
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