There’s a persistent myth that 90% of restaurants fail in the first year. It is not true. It would be interesting to know how the myth started, but it probably has something to do with the fact that large restaurant chains often close underperforming locations. This is often not a sign of failure, but a strategic move to maintain a chain's economic health. In 2023, there were around 759,000 restaurants nationwide, out of which 349,000 were chain-restaurant businesses, according to data from Food Industr ...