Who cares? Study after study show that stores and corporations can swallow these costs and even when passed on to the consumer the increase is much less then thought.
Besides as long as people can afford groceries I don’t think people will care if restaurant and fast food are a bit more expensive
Can you link one of those studies? Truly interested in the subject.
The restaurants I have/had as clients all had only 1 or 2 locations, but one of their main expenses is well wage cost. At least here in NL and with my clients.
Increasing the wage there would require a price increase or they would go to the negative. I am just wondering how it would impact in the US.
I understand that this would eat into your profits and would probably eat into the amount of money that you can make off a business like this But if the business is not viable Paying a living wage where the minimum should be 30 an hour then the environment is not correct for that business and the business isn’t viable.
I don’t want to sound cruel but for a long time businesses have gotten away with paying people pennies for work that they should have been paying dollars.
Generally yes, but often you see that they still end up with the same or more revenue. So less people came, but they spend more.
or the traffic just stayed the same and more people came. It depends a bit on the size of the restaurant and in what price category they are and what they increased.
Who cares? Study after study show that stores and corporations can swallow these costs and even when passed on to the consumer the increase is much less then thought.
Besides as long as people can afford groceries I don’t think people will care if restaurant and fast food are a bit more expensive
Can you link one of those studies? Truly interested in the subject.
The restaurants I have/had as clients all had only 1 or 2 locations, but one of their main expenses is well wage cost. At least here in NL and with my clients. Increasing the wage there would require a price increase or they would go to the negative. I am just wondering how it would impact in the US.
I just found like 5 minutes looking around on Google this was one of the first results: https://www.epi.org/blog/most-minimum-wage-studies-have-found-little-or-no-job-loss/
I understand that this would eat into your profits and would probably eat into the amount of money that you can make off a business like this But if the business is not viable Paying a living wage where the minimum should be 30 an hour then the environment is not correct for that business and the business isn’t viable.
I don’t want to sound cruel but for a long time businesses have gotten away with paying people pennies for work that they should have been paying dollars.
Did the pice increase impact customer traffic?
Generally yes, but often you see that they still end up with the same or more revenue. So less people came, but they spend more.
or the traffic just stayed the same and more people came. It depends a bit on the size of the restaurant and in what price category they are and what they increased.