The restaurant nearest my office is rather odd. It has been there for years, but after the original owner passed away, the owners since then have generally lasted about three or four years before selling it. It has kept the same name the entire time.
The new owners are not only buying the building and equipment, they are also paying for the name and the so-called "good will". They don't understand that "good will" is fickle as hell. Initially, most people will flock to it and it will be busy, but if they can't do it well, they won't stay busy for long. It doesn't take long for people to decide whether the place is worth going to.
The current owner is a bit odd. Before buying the restaurant, he not only knew absolutely nothing about the restaurant business, he had never even been in a restaurant. As far as I know, he has still never been in any other restaurant. He is basically stuck reinventing everything he does and often it is not done well. At lunch, it is never crowded now. The last two times I went there for supper, there were about three occupied tables including ours. One of those times, the food was unbearably horrible and hardly anyone at our table came anywhere close to finishing their meals. The time before those two times, I was the only customer the entire time I was there.
People want to buy a restaurant because they think that since they like to eat in restaurants, they would know how to operate one. In reality, they are often pitifully ignorant about what it takes to run a restaurant.
If someone wants to buy a restaurant, I think that they need the following experience if they want to have any hope of making it work:
1) To have worked in a restaurant as a waitress for at least a couple of years,
2) To have worked in a restaurant as a cook for at least a couple of years, and
3) To have managed a successful restaurant for five or more years.
They need to be there working from when the restaurant opens its doors in the morning to whenever it close the doors in the evening. If they can't do that, they have no business operating a restaurant.