Two years ago, he and his wife opened a restaurant, Crust, in Miami, serving pizzas and pasta along with other fare. It was a huge risk. Even for the savviest chef or businessperson, a new restaurant is a great way to lose a lot of money—fast. The industry sees thousands of new entrants each year, and about 27% of them close their doors within 12 months, and 60% in the first three years, according to H.G. Parsa, a University of Denver professor who has studied restaurant failure rates for more than 10 years.