Back To Career News

The Most Tried and Failed Small Businesses [infographic]


Being a small business owner comes with its share of challenges and rewards. This Top-Business-Degrees.Net infographic showcases the keys to success and the high risks involved.

If you’re looking for security, independent restaurants and retail stores are definitely not the way to go. An astounding 80 percent of retail stoares fail within the first five years due to fierce competition and the significant initial investment they require. When it comes to restaurants, owners may be skilled at their craft but inexperienced when it comes to matters of business — something that fans of shows like “Kitchen Nightmares” and “Restaurant Impossible” know all too well.

If you want to succeed, you’ll want to smart small and resist tying up too much cash in overhead at the beginning. You’ll also want to know your market, listen to your customers and maintain quality merchandise. Marketing your business and location are also key.

Check out the infographic below for more insights on the most tried and failed small businesses.

Do You Know What You're Worth?

Tell Us What You Think

We want to hear from you! What unique challenges do small business owners face? Share your thoughts on Twitter or in the comments!

The Most Tried and Failed Small Businesses

More From PayScale

How to Recover From a Bad Interview

Learn to Keep Your Clients Happy From the Restaurant Industry

Learn How To Get More Retweets [infographic]

(Photo credit: Top-Business-Degrees.Net)

Marissa Brassfield
Read more from Marissa

Leave a Reply

Notify of
What Am I Worth?

What your skills are worth in the job market is constantly changing.