Not sure what prompted this train of thought but perhaps the opening of a new restaurant right next to my house has got something to do with it.
We think of cash-flow as a very present-moment kind of idea. It is money going in/out right now. But actually, major cash flow patterns are the oldest part of business."
They are ancient rivers of money.
Two things required for a business to become successful - marketing and innovation - are aimed at avoiding competition and are incredibly hard to do in the restaurant business.
Marketing - celebrity chefs, Michelin stars, etc.
Innovation - where it looks more like a manufacturing business than anything else. e.g Domino's, McDonald's.(h/t @BrentBeshore on invest like the best ep100)