Why it is a bad idea to start a business in Bloomington, Illinois
Thesis statement:
An analysis of the restaurant venture in Bloomington Illinois reveals the economy is not stable enough to pursue success in the long term. Research shows the overall economy in a steady downfall. Another point is the amount of money per household spent on dining has dropped over the years. Pair this with the changing customer taste preferences and we get another problem. There is also the issue of health regulations tampering with the restaurant committee. Overall, pursuing self owned dining facilities is not a good investment at this point in time.
Points:
There are more restaurants in bloomington/normal per capita than any other place in the state.
High Taxes
City has a lot of debt which can lead to higher taxes and lower unemployment rate
rate of failing restaurants ( I think its 50% of restaurants go out of business in first year)
raising of minimum wage
unemployment rate in Illinois is high, so people arent going out and spending money in restaurants
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https://www.npr.org/sections/ed/2018/04/25/605092520/high-paying-trade-jobs-sit-empty-while-high-school-grads-line-up-for-university Click on the link above. Read the entire link and answer the questions below…
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