Excerpt from Bisnow:

NEW YORK, NY – Even with a perfectly streamlined government, Hospitality House head of strategy and development Shane Davis (second from left) was quick to note that only 5% of restaurants open on time due to real estate ignorance. Both he and Shawmut Design and Construction director Matt Tripp (far right) said many restaurateurs don’t know what they need, often taking more space than they can afford and slowing down leasing and construction.

The most common issue, he said, is that restaurateurs don't understand the length of delivery times for finishings and more "exotic" equipment like HVAC or tiling, so they frequently stall construction with their lack of planned phases.

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