https://apnews.com/article/california-mcdonalds-wendys-fast-food-minimum-wage-59dde9b19e411279f744e44439872c7a
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So now workers are earning more money for fewer hours. Happy days
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While doing the work of two people
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Very quick
and shitty math. Say each employee works 30 hours/week. $20/hour vs 16/hr would 
cost our hero owner 
of 7 locations about $950k/year across his stated 165 employees. Average Wendy's location 
makes about $1.5M/year in profit. Buddy is talking about how nervous 
he is and all the cuts he has to make so he can maintain is approximately $10.5M profits vs having to live on the streets making just we'll say $9M/year. My heart 
bleeds. Send this mf to the 
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It's a business, not a charity !anticommunists
But ignoring that, we don't know his balance sheets. There's repair and maintenance and you're assuming all his restaurants have already pay off, but if he recently opened new ones that surmounts to new investments. We don't know how indebted they're either, how much they pay in taxes, they could be paying bank loans and when you're running a company there can also be cash flow issues when it comes to monthly payments.
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Franchisees may lotta dollas to the parent corp.
They require you to already have $500-750k liquid cash assets, plus about a $2M investment (e.g. a secure bank loan) and then also another $50,000 recurring franchise fee, and 4% royalties.
People think the owner of the franchise is taking in millions, but he's paying off other millions.
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One location
owner, sure. This guy has S E V E N. "Oh I'm riding 
the razor's edge on fincances and a 9% shift in profit will kill me, I know, I'll buy three 
more stores!". He should 
know better 
and should've planned 
for this.
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$1mil/yr isn't that much for a business with that volume but normal for fast food. If they make less they may not have enough money for large purchases like equipment and renovations.
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It's straight profit I was factoring. I'm probably wrong
but I assume that's after everything is said and done like equipment 
repair/replace, renovations, etc. Either way, I don't see what $950k buys that the rest of the $10M doesn't. Heck, buddy can tighten his belt and only pocket $5M/yr for himself 
and remain beyond 
fine. I smell 
greed.
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Restaurants have famously razor thin margins, I think you're majorly over exaggerating profit
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famously razor thin even with alcohol sales, which are the most important aspect of any sitdown restaurant. I am pretty sure fast food is worse.
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Why are you so r-slurred? That's only labor costs. THere is the cost of setting up a franchise location and buying all the equipment. Of course, the owner gets a larger share of the earnings because they're the ones taking on significantly more risk. How can you forget about all the times these places go bankrupt or have to shut down locations during hard times?
Stupid little r-slur.
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Ya it was something
like $40k just to be an owner, $250k-ish to set up each shop. I warned 
you it was shitty math and I was assuming all other costs were covered. There's a difference in profit vs revenue. The source 
I looked at said locations make an average of $1.5M "profit", that's all that's left over AFTER regular 
expenses are taken care of. If anyone is neurodivergent 
enough 
to do a more in-depth and researched breakdown 
please 
be my guest. I'll always stand by "rich man bad" because I'm not rich and it's really 
pooping on the vision 
I had for my life.
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With that chip on your shoulder, you'll constantly be getting mad at others instead of thinking of how you can make more for yourself.
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I have no rich relatives support system
for advice/loans, no family 
really 
aside from parents and siblings. No network. $3k in savings, in my 30s, I'm not creative enough 
to make something 
useful, not charismatic enough 
to be poular, no inspiration. I feel like I have drive/energy but no outlet and no direction. I'm also too honest to make money 
by cheating/stealing or taking advantage of people. My odds are not favorable. My best qualities are dependability, accountability, tenacity (with direction and cowtools), and being able to stay objective and emotionally neutral. I don't know what I can do with these things as a nobody starting from zero. Also the dream 
of being a pioneer is gated only for people who can afford to experiment and innovate.
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If this was true the Mexican cartels would get out of the cocaine business and get into the making bad hamburgers and really fricking awful "chili" business.
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Be the bosses of Mexico
vs "I'm got 9 Wendys and 2 Burger 
King :)"
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I'd gladly pay 30% more for fast food if the workers didn't look at you like they want you to keep yourself safe and the people microwaving shit in the back actually cared about how your slop is put together.
But they do and they don't; so I guess we can both eat shit and be miserable.
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Maybe this will make California skinnier. Doubt it, though.
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People here chud out over meth addicts without realizing the alternative
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Who could have foreseen this outcome? Besides everyone.
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Snapshots:
https://apnews.com/article/california-mcdonalds-wendys-fast-food-minimum-wage-59dde9b19e411279f744e44439872c7a:
ghostarchive.org
archive.org
archive.ph (click to archive)
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