http://www.bizjournals.com/dayton/stories/2003/09/08/daily16...In September of last year , the online Dayton Business Journal reported that Ohio State University researchers debunked "the common business wisdom that restaurants fail at 90 percent to 95 percent in the first year." According to H.G. Parsa, associate professor of hospitality management at the university, a longitudinal study of restaurants indicated the failure rate for restaurants in Columbus, Ohio, was 57 percent to 61 percent for a three-year period from 1996 to 1999. The highest failure rate was noted during the first year, when about 26 percent of the restaurants failed. About 19 percent failed in the second year and 14 percent in the third year, according to the analysis.
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