That's some good points, and I never thought of it in terms of restaurants that have been there longer may not be part of that statistic.
Some caveats though:
-Even large billion dollar corporations that have been in business go bankrupt
-My perspective has always been that if a profitable restaurant is selling, its because it really isn't that profitable. The usual reasons given for the sale are can't spend the hours or health, but the reality is that if a restaurant is profitable, they could just hire a manager for 40-60k who could manage all aspects of the business, while the owners collect their checks every month.
My feeling on why that doesn't happen is because the business isn't doing as well as reported.
Some caveats though: -Even large billion dollar corporations that have been in business go bankrupt -My perspective has always been that if a profitable restaurant is selling, its because it really isn't that profitable. The usual reasons given for the sale are can't spend the hours or health, but the reality is that if a restaurant is profitable, they could just hire a manager for 40-60k who could manage all aspects of the business, while the owners collect their checks every month. My feeling on why that doesn't happen is because the business isn't doing as well as reported.