The high failure rate of restaurants might not be as staggering as it's made out to be. Ohio State professor H.G. Parsa conducted a study on restaurants in Columbus, Ohio and found that over a three-year timeline, the failure rate was between 57 and 61 percent. While this still shows that restaurant start-ups often fail, it's a far cry from myths that upwards of 90 percent of new restaurants don't make it.
Restaurant owners and hopeful entrepreneurs can increase their chance of success by building brand awareness and developing a loyal customer base. Promotional products can be helpful tools in achieving these goals.
Business owners can design a distinctive logo for their restaurant and have it printed on a variety of marketing products as well as promotional gifts that they can give away to customers. Bars can stock matchbooks that are custom-printed with the restaurant's logo, name and phone number to give away to customers. They can also give away free customized koozies with drinks that patrons can take home with them.
Restaurants can also generate interest in their brand by printing a recognizable logo design on t-shirts, glassware and coasters to use in-house and sell as merchandise. Patrons can take home coasters as mementos and purchase pint glasses to share with their friends.
