One Thayer Street Storefront Has Had Four Restaurants in 7 Years

One Thayer Street Storefront Has Had Four Restaurants in 7 Years

 

Thinking of opening a restaurant in an affluent neighborhood with lots of college students?

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Seems like a can't miss, right?

Well, one location on Thayer Street on the East Side of Providence is soon to have its fourth restaurant in seven years.

 

Johnny Rockets Closed in 2017

In March  2017, the local favorite burger joint Johnny Rockets on Thayer Street in Providence announced it was closing.

Located at the corner of Thayer and Meeting Streets — the location is high profile.

At the time, the owner said the closing was contingent upon the sale to another popular chain -- B. Good. 

"I love Thayer Street, I have to say," said Lloyd Sugarman, owner of the Thayer Street Johnny Rockets, in 2017. "And I want to thank everyone involved there."

 

B.Good - Hot Chain From Boston Came and Went

Well, B.Good restaurant came next.

It is a “healthy food” chain first launched in Boston. "Today, we're still serving up wholesome, honest food that makes people feel GOOD all across New England. We work with more farmers, bakers and growers than ever," says the company.

That concept lasted on Thayer Street about three years.

By May of 2021, GoLocal reported B.Good’s closure.

The restaurant B.Good has closed on Thayer Street. The establishment at the corner of Meeting and Thayer Streets is currently shuttered — with a building permit posted in the window. A sign in another window announces the next tenant — Ayame Hibachi.

 

How About Hibachi

Then, Ayame Hibachi Express Japanese Restaurant opened at the high-traffic “can’t miss" location, surrounded by what one would think would be the perfect demographics.

 

Try Again

Now, less than three years later, another closure and another restaurant have announced they are moving into the location—the new restaurant is Yum's Halal Food. There is no date for the opening of the new restaurant.

According to the National Restaurant Association, 30% of restaurants fail in their first year.

Another data source, BinWise, reports that 60% of restaurants fail in their first year, and 80% fail in their first five years.

Most restaurants last eight to 10 years.