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I don't know what coffee is like in the United States. It seems like the restaurant business is one of those things which on average is a bad investment. It fits a pattern of businesses with the following traits -

Highly visible successes
Less visible failures
Provides positive externalities for owners (e.g. respect, prestige)
People are willing to do it for free

Those two last traits are really deal-killers.

Other professions or businesses like this are authoring books, musicians, small niche luxury goods/novelty goods stores, gourmet food stores, wine sellers, small bookstores, computer game makers, graphic artists, actors. Probably many more.

I think investment analysis is not one of them.

Good luck to your friend.
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