Not only is it expensive to open and run a business in normal times, but Covid-19 is making things even worse. One of the bigger, more popular businesses in a city near me – the IHOP – closed down! That place seemed invincible!
Anyone running a business like a restaurant, shop, etc. these days has to have a huge amount of money set aside to weather disease shutdowns. They need to have 2-3+ months of rent – which is often probably outrageous – saved up for if and when no revenue is coming in.
Some local businesses here are trying to go take-out to save themselves, but it’s not always working. This local IHOP tried to go that route, but obviously it failed.
The price to start a business like a restaurant nowadays is over-the-top ($100,000-1 million in capital), and even with that, they couldn’t weather a disease shutdown.