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In a 2003 American Express ad, celebrity chef Rocco DiSpirito claimed that restaurants have a 90 percent failure rate. The statement left some industry watchers and owners wondering where he got that statistic. 

, about on par with other small businesses. But DiSpirito's claim still continues to be repeated. 

What are the real economics behind the restaurant industry? And how does one keep a restaurant open?

Lenny Russo, James Beard nominee and chef-owner of Heartland Restaurant in St. Paul, joins The Daily Circuit to talk about the industry. Barry K. Shuster, editor of Restaurant Start Up & Growth magazine, will also join the discussion.

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In a 2003 American Express ad, celebrity chef Rocco DiSpirito claimed that restaurants have a 90 percent failure rate. While his stat proved false, the notion of restaurant failure still prevails. What makes a successful restaurant?

The economics of running a restaurant

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