#1 Running a business in the red is untenable whether or not the owner has sufficient money to retire. ,
#2 Fast food is supposed to be inexpensive. As cost to consumer rises eating home or packing lunch becomes preferable.
Exactly. That comment about having enough money to retire was stupid.
Running a fast-food business in the red means, regardless of how much money you have, you'll soon have less.
There are some freepers who do not understand basic economics or what goes into running a business. It used to be that fast food employed mostly teens/young adults and was a stepping stone to their careers. It’s also the reason why the food could be cheaper.
Business owners can only absorb so much before they have to cut hours and/or raise prices. Many have already had to raise prices due to bidenomics and are losing sales as a result.
Not to mention, when you raise minimum wage for the lowest paid workers, it really becomes a wage hike across the board. Those employees making $20 now will have to make more as well.
Let’s test you econ IQ. True or false: If min wage goes up $2/hr then the cost of food goes up $2/order.