Results from the data analysis indicated that location makes a difference in restaurant failure, a finding consistent with the earlier studies by Parsa et al. (2011) and Parsa et al. (2005). Among the five ZIP codes, 80301 (28.67%), 80304 (29.27%), and 80303 (28.17%) had the three highest failure rates (see Exhibit 1). Although we present the results for all five ZIP codes here, ZIP code 80305 was not considered further as it had an insufficient number of restaurants (n = 13, 2.6%), less than 8 percent of the population, and the lowest population density. As a result, comparisons using that ZIP code may not be realistic.