A new study by researchers from Dublin Institute of Technology shows that the average failure rate for Irish restaurants in the first year is just 15%. The researchers believ
e this is well below the popular perception that the majority of restaurants fail in the first year and they hope it will encourage greater confidence and participation in the industry by restaurateurs and financiers.
The study calculates restaurant failure rates in Ireland, for the first time, using longitudinal census data. JJ Healy, a PhD student in DIT who is leading the project, highlights the significance for the industry, “Research on failure rates in Irish restaurants has been sparse and rudimentary to date. Poor perception of the industry is a major barrier for new entrants who wish to secure financial support, or for existing restaurateurs who wish to expand or grow their business, because the financial industry views investment in restaurants as high risk.
“The findings may help to ensure that those who are contemplating opening a new venture are more reliably informed about risks. We hope it will create a more favourable atmosphere among financial investors and government-funded enterprise boards by demonstrating that the failure rate in the sector is much lower than commonly perceived.”
Dr Máirtin Mac Con Iomaire, Lecturer in DIT and co-author of the study,(pictured) highlights the significance of this research for the greater Irish economy,
Read more ...
Hammerson, Irish Life and Iput, joint owners of the Swords Pavilions Shopping Centre in north Co Dublin, have named the first restaurants to sign up for a new leisure quarter, which is due to open for business towards the end of the year.
A new glazed bridge has been designed as part of a €3.3 million scheme to create a link for customers from the first-floor retail mall to the new restaurant quarter, on the upper level adjacent to the Movies@Swords cinema.
The promoters have attracted American burger chain Five Guys and pizza brand Milano. Five Guys, which has already successfully launched in Dundrum, will have a floor area of about 3,000sq ft in Swords.
The restaurant will also include a Coco Colas Freestyle touch-screen soda machine, which carries more than 100 flavours.
Milano will open a 3,400sq ft restaurant, its 16th location across the country since setting up in Ireland in 1995.
The ‘Alcock and Brown 100’ Festival was launched in Buswells Hotel. The festival celebrates the centenary of one of the greatest
feats of early aviation - the first non-stop transatlantic flight in history, completed by John Alcock and Arthur Whitten-Brown in 1919.
Starting from St John’s, Newfoundland in their Vickers Vimy biplane, Alcock and Brown made history as they crossed the ocean and landed in Clifden, Connemara, Co. Galway 16 hours and 28 minutes later, with Alcock famously being the first person in Europe to
announce “Yesterday we were in America”.
Launching the event was Brendan Griffin, Minister of State at the Department of Transport, Tourism and Sport. Special guests in
attendence were Tony Alcock MBE, retired RAF pilot and nephew of pioneering pilot John Alcock, as well as RTE’s Ryan Tubridy, who was awarded the freedom of Connemara in 2011 and has a close connection to the Clifden area.
The Irish Emigration Museum is hosting ‘A Journey to Relish’ as part of this year’s Bloomsday Festival. On Saturday 16th June, enjoy a special Bloomsday breakfast and themed tour of the interactive museum in Dublin’s Docklands.
A heady Joycean feast for the senses will be provided by Irish food specialists The Bakehouse, with a full buffet breakfast and for the more adventurous some mutton kidneys! Costumes are encouraged and prizes will be offered for the best dressed.
Following breakfast, our Joycean tour guide in residence will whisk guests downstairs to the atmospheric vaults of EPIC, Ireland’s only digital museum, to follow in Joyce’s footsteps across Europe.