Introduction When opening up and maintaining a restaurant over a long period of time, there are numerous factors that the owner needs to take into account. There has been a substantial amount of studies done on this topic, and rightfully so. This is because “over a quarter of restaurants fail within their first year of operation” (Lu, Song, Dock 2014). Owners in turn will do whatever they can to keep their business afloat. Location. Location. Location. How often is this saying used? Well it has been “increasingly recognized as the single most important element in determining its profitability and overall success” (Lu, Song, Dock 2014). An example in Iowa City would be Mcdonalds. McDonalds is labeled by business insider as “ one of the most popular fast-food chains and one of the top franchises in the world ” (Fitzpatrick 2015). However, Mcdonald's is located about a mile away from downtown, and in the outskirts of the University. Which is inadequate to the sales of the compan...
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