lily Rep Points:
735
Posted on
April 4, 2009
at
10:04 pm
Maybe it was mismanagement. Before putting up a business, it is a must to conduct a market research and a feasibility study first.
sona Rep Points:
570
Posted on
April 5, 2009
at
4:20 am
The causes may be as follows:1. The place2. The service3. The quality is inferior4. Price is high compare to quality
Posted on
April 5, 2009
at
4:22 am
mismanagement of finances and overspending causes bankruptcy.
Posted on
April 8, 2009
at
5:57 pm
lack of planning, a business plan is a must, with income projection, contingency plan etc., a mall was put up near our place, it closed down because it was out of location.
Posted on
April 8, 2009
at
6:35 pm
My bet is on the location... location, location, location....The fact that the building had to be renovated tells me that it was probably in a "run-down" neighborhood. Even if the food is good, and the owners are nice, if the location is bad, the business will be too. People want convenience, this is why Walgreens is on almost every street corner in the big cities. It's easy access.
Posted on
April 8, 2009
at
6:42 pm
i think maybe The quality is inferior
Posted on
April 8, 2009
at
6:57 pm
It might be a few different reasons.Maybe they don't got much own capital or their budget was planned to low.
Posted on
April 8, 2009
at
10:05 pm
They didnt manage to advertise too well. Maybe it didnt have a good review. Maybe The food wasnt good. Maybe there was competition. There are a lot of factors that can lead to bankruptcy.
Posted on
April 9, 2009
at
1:45 am
Several factors may have affected like the food & service, because no matter how you market your restaurant and how good the location is, if the food and the service fail, then no one will come back and dine again. We know the power of "word of mouth". Another one may probably be mismanagement, someone could afford to start a business but not necessarily mean that he could sustain its operation.
