Week 10 EOC: Not Failing

One reason places fail is that they choose a poor location. On Eastern, there is now a Mediterranean food restaurant, that spot has constantly been closing because it's a poor location. Many businesses before that had failed because they weren't able to bring people in. Buying new furniture is a big problem as well. New equipment isn't necessary, you can get a used one for half the price and buy replacement parts or simply repair it. "Do not go crazy about buying new equipment and furniture, instead think about the benefits of used equipment." (Behmen). I think every restaurant owner knows that they need to promote their business, but the problem is that they don't know how to promote themselves. "make a budget for your advertising and get to work which will bring success.. Make some creative ideas for restaurant promotion or pay to some marketing company to do this work for you." (Behmen). Another mistake that businesses make are the partnerships involved. Some companies work with their spouse. An idiotic idea, just look at any article saying that you shouldn't work with your spouse. Not just spousal dissenting opinions, but just generally getting a bad partner who has no idea what to do. Sharing a financial risk can be too stressful for everyone to handle. "You share financial risks which can be very stressful. Actually I have bad experience and had it twice. I have lost some of my best friends" (Behmen). 

Opening up a restaurant on the strip would pose as a problem because you're a small time owner. A great place is to start around somewhere people go, but not to do anything crazy. Eastern by the 2-15 is convenient, but traffic can be a hassle at times. Townsquare is easy enough for people to be around, but it's usually retail areas and recreations. Downtown Summerlin has fun areas for clothing, food, recreation, and restaurants that everyone can enjoy. With radio advertisements, a single radio ad can cost up to $1,500, social advertising is free, and word of mouth works okay, but not everyone talks to each other anymore.