Posted on 06/24/2024 9:33:12 AM PDT by dynachrome
A longtime San Francisco McDonald’s has become the latest casualty of California’s new $20 minimum wage, according to reports.
The McDonald’s at the Stonestown Galleria shopping mall, about eight miles southwest of downtown San Francisco, was permanently shuttered Sunday after more than 30 years serving the area.
“This is a gut-wrenching day for my family,” franchise owner Scott Rodrick said, according to ABC 7.
Rodrick blamed the closure on a number of factors — but said the newly rolled-out law hiking the statewide minimum wage from $16 to $20 an hour pushed the business over the edge.
Coupled with the landlord refusing to negotiate on long-term rent, high property taxes, and a mall tenant fee — all of which combined to make the Stonestown McDonald’s the most expensive location to operate out of his restaurant company — the new wage hike was too much to keep the lights on.
(Excerpt) Read more at nypost.com ...
The small increase in wages is simply an excuse to close the location because of other issues. The place pictured seems a bit upscale for McDonalds so no surprise the property owner is raising the rent as well.
Democrat response: “Yeah, but I’d be making $20/hour...if I could find a job!” Just because you want to make $20/hr doesn’t mean the market thinks you’re worth $20/hr.
Is the “gut wrenching” quote about the shutdown? Or about the McDonald’s food?
Is this place not too “beloved” to fail.
And 20 bucks nowadays is worth what? $10.?
“Chains like McDonald’s, Wendy’s, Burger King, Starbucks and Chipotle have raised their prices by up to 8% in California. In turn, customer visits to such chains have decreased”
death spiral ...
A 25% increase is small?
You have the business sense of peanut similar to any Socialist.
Don’t forget the negative consequences for customers too. Price increases for not so great fast food. Less spending and less customers too. Living ‘minimal wage’ increase leads to job losses too. Hack leftard policies don’t care about facts and results. Just plowing full speed ahead moronically and let the chips fall where they may- casualties for their holy grail agendas into the abyss.
“Coupled with the landlord refusing to negotiate on long-term rent, high property taxes, and a mall tenant fee....”
This location is in an outdoor galleria. How a business owner can survive at all in that craphole state of beyond me. SMH
25% isn’t a small increase in my opinion.
I don’t know about this location but the ones around where I am, along with the overpriced unhealthy food all come with free employee rudeness.
You can’t make payroll, you’re done. The real world is cold and hard and high-minded illusions don’t feed anyone.
“”The place pictured seems a bit upscale for McDonalds so no surprise the property owner is raising the rent as well.””
8 miles SW of downtown WOULD put it in a better location it seems...Stonestown Galleria - pictures online certainly don’t appear to be trashy...I was thinking it would be more down the peninsula but I guess not.
...and I bet the greedy capitalist pig “Owner” never considered cutting his obscene “profits” to accomodate the worker’s needs...
They should all go learn to code. Yeah: That’s the ticket... learn to code...
Big demand for coders — pays a “living wage” too, I bet.
And 20 bucks nowadays is worth what? $10.?
—
$20 in 1915 dollars would be worth $621.92 today
Have you ever owned a restaurant?
It is a real eye-opener....
Cold equations.
When you run out of cash you are done.
It’s not just the increase in wages, it’s also the increase in payroll and unemployment taxes as well. Those are NOT insignificant amounts,either.
The libs have no clue about pass through expenses.
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