> The only thing I found more interesting than all-you-can-eat buffets actually turning a profit is that there are business people who are apparently content running a business with such slim margins.
> This article quotes a 5% margin. I know food industry margins are low in the first place, but as a business owner in a different field I'm left wondering why anyone would even bother. The same business prowess and attention to detail you need to make a buffett run profitably could get you very far in another industry.
This is because you are assuming entrepreneurs act only for the purpose of profit.
Entrepreneurs act for the same reason all people act: to achieve their desired ends. These ends are established based on emotional desires, which do not necessarily correlate with things like maximum ROI.
> This article quotes a 5% margin. I know food industry margins are low in the first place, but as a business owner in a different field I'm left wondering why anyone would even bother. The same business prowess and attention to detail you need to make a buffett run profitably could get you very far in another industry.
This is because you are assuming entrepreneurs act only for the purpose of profit.
Entrepreneurs act for the same reason all people act: to achieve their desired ends. These ends are established based on emotional desires, which do not necessarily correlate with things like maximum ROI.