While most industries require some minimal level of skill, prior training, educational requirements, and even licensure, the hospitality industry has no real regulation and can be pursued by anyone. For example, if you want to open a dental office, you would need to attend dental school, pass stringent exams, become licensed, and obtain practical experience. But to open a bar or restaurant, you simply need to find a location, put up the money, and pass a background check for a liquor license—no need to have been trained in hospitality, know anything about business, or even to have worked as a bartender or waiter.. This is why most bars and restaurants fail.