- BIST solves challenges faced by restaurants using centralized food delivery apps.
- The Bistroo network gives discounts to restaurant customers that use the BIST token.
Starting your own small business can be a daunting task. Many entrepreneurs who open their own shop or restaurant don’t start with high expectations of making it big as much as simply making a living. The reality is that by the time you’ve paid all the overheads of premises, bought the necessary inventory, employed some staff, paid corporation tax and all the other expenses, the profit margins are relatively small.
In fact, in the restaurant business, the global average profit margin is somewhere between 2% and 6%. Taking the midpoint of that range, earning a relatively modest salary of around €27,500 or $32,000 (slightly above average for a Western European country) would require a restaurateur to turn over nearly €690,000 ($800,000) per year. These calculations don’t even take into consideration any reinvestment of profit back into the business itself.
So it’s hardly a surprise that so many restaurants are struggling, even before they were forced to shut up shop due to the pandemic res…