More than half of Romanian restaurants, bars and cafes go bankrupt in the first 9 months after opening

60 percent of Romanian restaurants, bars and cafes go bankrupt in the first nine months from opening and 80 percent, including those that disappear after three quarters, have the same fate in the first 5 years of operation, H.O.R.A. – Employers Organization of Romanian Hotels and Restaurants argues, based on several studies conducted over time on this market segment.

According to Eurostat, Romanians spend only 1.1 percent of revenues in restaurants or cafes, while Spaniards offer 14.6 percent. The EU average is 6.8 percent.

Moreover, the Romanian economy is headed for an acute crisis by qualified staff, the statistical data showing that vacancies almost doubled from 38,625 in 2009 to 59,753 in 2016, according to a KeysFin study, and HORECA is among the most affected industries.

According to H.O.R.A., the main cause for this whole situation is the lack of education and professionalism in the industry, which directly influences personnel policies and businesses management.

“We can not do things after the ear! A business plan adapted to Romanian economic reality is the only one that can provide you a predictable future in an ever changing market. Therefore, HORECA entrepreneurs need to invest more in obtaining know-how. If you want to always be one step ahead of others, you have to constantly participate in workshops or training courses. So before we blame external causes, let us ask if we have done our best to ensure the success,” said Dragos Petrescu, H.O.R.A. president, owner of the company operating City Grill, Caru cu Bere and Hanul Berarilor.