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Tuesday, November 25, 2008

Chinese Restaurant Cycle

1. Open restaurant offer great food and prices.
2. Raise prices to make a profit.
3. Less customers, so need to sell.
4. Lower prices to get lots of customers.
5. New person buys and starts over.

Other steps.
a. Chef leaves, changing taste of food, less customers.
b. Same type of restaurant opens next door. Landlord has no ethnics, price war ensues.

My wife and I went out to dinner at a local noodle house (the one in HK Plaza in RH) that just raised it's prices, and the waitresses are wearing jackets (may be they turned down the heat to save money). Good food, but the latest price hike does not make sense.

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