Part one of term paper
? Definition of Business Failure: Business that ceased operation following assignment or bankruptcy; ceased operation after foreclosure or attaching; voluntary withdrawal leaving unpaid debts. It is a common assumption in the restaurant industry that restaurants fail at an exceedingly high rate, the highest failure rates in the U. ...

Part two of term paper
... percent of all new restaurants which open this year will fail within the first 12 months of opening their doors. The same conventional wisdom also suggests that about 50% of the remaining restaurants will fail in their second year of operation and another 33% in the third year. This means that if 100 new restaurants were to open this year, 50 to 80 would fail before their first anniversary. That would leave 30 restaurants open in the year two. Half of these 30 would subsequently fail in their s ...