The restaurant industry has low barriers to entry

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The restaurant industry has low barriers to entry; this is what makes it a very attractivebusiness opportunity for entrepreneurs, according to the University of West Georgia (Christ,n.d.). The fact that only one in four restaurants close or change ownership within their first yearof business prove the statement, the majority of new restaurants fail, wrong. However, there arestill some barriers that I will have to get over, one being marketing. Where I am from and wouldbe opening my restaurant how you market your business can make or break you. To ensure that Imarket my business successfully I will hire a small marketing firm for about four months. Ibelieve this will be enough time to get my business up and running in the right direction.Location can be another barrier that I face. It is essential that I get a good location for myrestaurant. I need to have my restaurant in a high traffic area. This will allow people to see me.The more people see my restaurant, the more people are likely to visit it.
Running Head: Business Proposal5ReferencesChrist, S. (n.d.). Barriers to Entry in the Restaurant Industry. EHow. Retrieved from McConnell, C.R., Brue, S.L., & Flynn, S.M. (2009). Economics Principle, Problems, and Policies(18th ed.). Retrieved from The University of Phoenix eBook Collection database.

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