I enjoyed eating at this restaurant when I lived in Boston. "No Name grossed $3.2M in its 2017-2018 fiscal year, but $3.1M between Nov. 2018 and Oct 2019." https://www.universalhub.com/2019/another-old-line-boston-restaurant-could-be-about … "After paying employees, the restaurant had $5,900 in cash on hand." No cash is a stone cold killer.
People get confused when there seems to be a lot of demand for a product (eg., lines for legal weed today in Illinois) or millions in revenue. What they often ignore is how supply will effect pricing power. In the case of weed, that supply includes untaxed illegal sellers.
The intensity of competition levels in the restaurant business can be amazing. This is just a few of the new openings in one city. There's also Momosan and a new place by the people behind Chan. Hokkaido and Danbo Ramen. Old standards like Greenleaf, etc https://www.seattletimes.com/life/food-drink/our-food-critics-5-most-anticipated-restaurant-openings-of-2020-includes-a-big-secret-project-in-bellevue/ …
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