depotoo
Diamond Member
- Sep 9, 2012
- 40,718
- 13,425
Honey, you forgot wages for the bookkeeper, cooks, etc, cost of utilities, building rent, upkeep, workers comp, building insurance, liability insurance. Oh, and if a franchise, franchise fees.
Oh, and don't forget employment taxes, state taxes, local taxes and fees. Now, what were you saying?
Oh, and don't forget employment taxes, state taxes, local taxes and fees. Now, what were you saying?
Restaurant die-off is first course of California’s $15 minimum wage
In a pair of affluent coastal California counties, the canary in the mineshaft has gotten splayed, spatchcocked and plated over a bed of unintended consequences, garnished with sprigs of locally sourced economic distortion and non-GMO, “What the heck were they thinking?”
The result of one early experiment in a citywide $15 minimum wage is an ominous sign for the state’s poorer inland counties as the statewide wage floor creeps toward the mark.
Consider San Francisco, an early adopter of the $15 wage. It’s now experiencing a restaurant die-off, minting jobless hash-slingers, cashiers, busboys, scullery engineers and line cooks as they get pink-slipped in increasing numbers. And the wage there hasn’t yet hit $15.
As the East Bay Times reported in January, at least 60 restaurants around the Bay Area had closed since September alone.
A recent study by Michael Luca at Harvard Business School and Dara Lee Luca at Mathematica Policy Research found that every $1 hike in the minimum wage brings a 14 percent increase in the likelihood of a 3.5-star restaurant on Yelp! closing.
Another telltale is San Diego, where voters approved increasing the city’s minimum wage to $11.50 per hour from $10.50, this after the minimum wage was increased from $8 an hour in 2015 – meaning hourly costs have risen 43 percent in two years.
The cost increases have pushed San Diego restaurants to the brink, Stephen Zolezzi, president of the Food and Beverage Association of San Diego County, told the San Diego Business Journal. Watch for the next mass die-off there...
Luckily, I live in the central coast area between L.A. and San Francisco, so this area hasn't gone as extreme left as those parts of California.
I think it's hilarious and will benefit Americans... More people will have to start eating home cooked meals.
I've said this before and I'll say it again. When the burger on the menu costs $3.00 to make, the fries cost $1.00 to make, and then you charge $10.99 for the entire meal without a $2.50 drink that costs the owner $0.05 a cup to fill, or tip, that's basically robbery. $13.50 for a meal that costs $4.50 to prepare and then I have to pay the owner's sales tax for him, his employee's wage, and then they still bitch because they're "poor," somehow... Amazing how other companies which pay standard minimum wage or a bit higher aren't "poor" but these "lowly" restaurant owners are. Bull shit.