Economy Fast Food Shutting Down due to no Staff- Why don’t they raise wages?

[cheesus]

Their net income was something like ~$100mil. With ~2500 stores, that's about $40K profit per store. That's the equivalent of a $19/hr wage per store. So if the store had one owner, he would be making $20/hr. Not exactly raking in dough there.

Where are you seeing that they only made a net income of 100 million ? I don't believe that.

 

[HunterAcosta]

If they can't afford staffing then their business model is pretty shit. I wouldn't break my back for shit wages and neither would any of you.

This x 100. Sorry people don’t want to be treated like serfs while Pull Yourself Up The Bootstraps prognosticators tell them to work harder . By the way farmers and wal mart workers are some of the biggest welfare recipients in the history of the universe but I’m sorry , I’m speaking like a communist now .

 

[jrams]

the cheapest foods are the least healthy in general and healthier foods cost more, I think that's a trap that gets a lot of poor people.

That's just not really true. What garbage food is cheaper than broccoli, potatoes, onions, carrots, brown rice, oats, yogurt, eggs, etc.? There's just a time investment into preparing it and the meals can be pretty bland.

 

[spiderguarda]

You’re missing the obvious which is why workers that show up don’t stay at home like their counterparts that have calculated that it makes sense for them not to work? Can you explain this? What’s the percentage that’s sitting at home? One news report had an interesting perspective noting there were restaurant workers due to the forced closure had moved on to other jobs as their bosses didn’t bother to keep in touch with them when they were laid off or the workers didn’t.

If restaurant owners were bailed out by the government through PPE loans where there’s little oversight if they conformed to the rules then why shouldn’t the workers get their bailout?

There are news articles about white collar workers who were forced to work from home and now expect to be allowed to work from home because they realized they didn’t have to dress up which has a cost of dry cleaning, gas to drive to work, able to take care of their children because they can’t dump their kids off at school, etc. Even large notable companies are reconsidering mandates to have employees return to the office. Workers that must be in a meat packing plant, etc. don’t have a choice to even social distance due to the nature of meat processing and even an Amazon executive resigned to protest lack of safety measures for warehouse employees. That’s why Amazon went on a tv ad campaign to show how safety conscious they were.

If you believe in Capitalism, you have to accept supply and demand goes both ways even if labor shortages are created by government payments. If you look at financial news, most financial firms in-house economists or even corporate execs and their economists would prefer consumers have money to spend because even in a Pandemic and coming out of it, it’s in everyone’s interest, we come out quickly instead of the often cited last financial crisis which required a decade to return to its prior economic status. Corporate execs all praised government spending during the Pandemic. They even like Biden’s infrastructure initiative except they don’t want to pay for it or even partially. They’re quite happy with their lowered corporate taxes and loopholes and naturally prefer the middle class pay for it.

 

[mozfonky]

That's just not really true. What garbage food is cheaper than broccoli, potatoes, onions, carrots, brown rice, oats, yogurt, eggs, etc.? There's just a time investment into preparing it and the meals can be pretty bland.

I don't know, i don't cook and ain't married. But I know that you can get more calories out of junk than you can out of apples, broccoli and green beans. Ideally, i'd have someone just making me meat and veggies, all this processed shit is the death of us.

 

[Garnet_StrongerThanYou]

I don't know, i don't cook and ain't married. But I know that you can get more calories out of junk than you can out of apples, broccoli and green beans. Ideally, i'd have someone just making me meat and veggies, all this processed shit is the death of us.

how do you eat?

 

[mozfonky]

You’re missing the obvious which is why workers that show up don’t stay at home like their counterparts that have calculated that it makes sense for them not to work? Can you explain this? What’s the percentage that’s sitting at home? One news report had an interesting perspective noting there were restaurant workers due to the forced closure had moved on to other jobs as their bosses didn’t bother to keep in touch with them when they were laid off or the workers didn’t.

If restaurant owners were bailed out by the government through PPE loans where there’s little oversight if they conformed to the rules then why shouldn’t the workers get their bailout?

There are news articles about white collar workers who were forced to work from home and now expect to be allowed to work from home because they realized they didn’t have to dress up which has a cost of dry cleaning, gas to drive to work, able to take care of their children because they can’t dump their kids off at school, etc. Even large notable companies are reconsidering mandates to have employees return to the office. Workers that must be in a meat packing plant, etc. don’t have a choice to even social distance due to the nature of meat processing and even an Amazon executive resigned to protest lack of safety measures for warehouse employees. That’s why Amazon went on a tv ad campaign to show how safety conscious they were.

If you believe in Capitalism, you have to accept supply and demand goes both ways even if labor shortages are created by government payments. If you look at financial news, most financial firms in-house economists or even corporate execs and their economists would prefer consumers have money to spend because even in a Pandemic and coming out of it, it’s in everyone’s interest, we come out quickly instead of the often cited last financial crisis which required a decade to return to its prior economic status. Corporate execs all praised government spending during the Pandemic. They even like Biden’s infrastructure initiative except they don’t want to pay for it or even partially. They’re quite happy with their lowered corporate taxes and loopholes and naturally prefer the middle class pay for it.

honestly, plenty of business' are really useless, bars and gyms probably top the list, I hate both so I have a bias. You can get drunker at home than you can in some nasty assed bar and you can work out at home but they market gyms in such a way as to make you think you need them, then there is the whole meathead/meatmarket aspect which is the main reason I hate fucking gyms. The other is, it's a con, you get people to work themselves into a sweat and you charge them and you don't have to do a thing. I hate any environ where people are performing for other people, the shit is immature, wasteful and annoying. Leave the BS in HS. All that said, one of my buddies lost his gym and it's sad because out of all the gym owners I know, he's about one of the nicest people you could meet and he was just getting his business off the ground when this shit started. Another guy, former pro mma fighter, is a fucking flake, fuck his business. And hey, a lot of people go aorund with a false sense of security in this country (US) this was bad but life could get a whole lot worse and they would be completely unprepared.

 

[mozfonky]

how do you eat?

too much junk honestly, too much money too. today i had a bag of oranges and some kind of popped corn, probably better than what I usually eat. Too much subway, burger king and chinese food. I probably shouldn't do that anymore because for the first time in my life, I'm have BP problems, was wondering why I was feeling so sluggish and since I bought this monitor, i see what it probably is. Getting too old to abuse my body, used to be able to eat way more and was 70 pounds lighter.

 

[Garnet_StrongerThanYou]

too much junk honestly, too much money too. today i had a bag of oranges and some kind of popped corn, probably better than what I usually eat. Too much subway, burger king and chinese food. I probably shouldn't do that anymore because for the first time in my life, I'm have BP problems, was wondering why I was feeling so sluggish and since I bought this monitor, i see what it probably is. Getting too old to abuse my body, used to be able to eat way more and was 70 pounds lighter.

Yea you gotta take care of yourself buddy.

Im writing a book on how to lose weight and still eat delicious food.

When I have energy I’ll send you some tips.

 

[mozfonky]

Yea you gotta take care of yourself buddy.

Im writing a book on how to lose weight and still eat delicious food.

When I have energy I’ll send you some tips.

ok, thanks, i'm struggling with it.

 

[spiderguarda]

Yes. People have learned to not buy and consume like clothing etc. if they don’t need to go out. It only hurts us all. One CEO who controls three jeans brands was interviewed and was rather happy people want to buy jeans instead of sweatpants as people can dine out etc.

 

[SHAZAM]

Lol when Will dipshits learn that minimum wage will continue to be minimum wage, even at $100/h? And whatever happened to "private companies can do whatever they want!" Lmao liberal soyboys.

On the other hand, let's stop pretending that lazy ass entitle Americans, regardless of race, will take some of these jobs regardless of pay.

 

[cooks1]

The restaurant is still responsible for hiring regardless the percent Poindexter. As well as other exspencses. If you think you can do better then open up your own resteraunt and stop trying to force people to pay What you think is fair.

I am not trying to force people to do anything. I have a job. And I am not the one that can't hire people.

There are plenty of restaurants, even fast food restaurants, that pay people better and do just fine. In-N-Out is a perfect example. Their entry level pay generally starts at well over $13-$14.00 an hour and goes up steadily from there. And their prices are less than what you find at McDonalds, while their food, though still fast food, is immensely higher in quality. To top it all off, the average In-N-Out location absolutely shellacs the average McDonalds location both in sales and profit margin.

http://mastersinvest.com/newblog/20...:text=“An In-N-Out,margin is an estimated 20%.

So- To sum up- better pay for employees, better food at better prices, yet more profitable. Speaking as a consumer and as a parent with kids who will soon be looking for their first teenage jobs, I know what I would prefer opening up down the road.

The younger generations are much more conscientious consumers than their predecessors. I expect businesses operating like In-N-Out have a bright future ahead of them.

 

[cooks1]

Their net income was something like ~$100mil. With ~2500 stores, that's about $40K profit per store. That's the equivalent of a $19/hr wage per store. So if the store had one owner, he would be making $20/hr. Not exactly raking in dough there.

You are are doing this completely wrong.

You are looking at the net income of Chioptle-the franchisor. And part of the reason the margin is low is they are investing in new locations like a mother fucker. The amount of profit that the locations paid to Chipotle is closer to $500 million. And of course the franchise locations keep a lot more profit than they kick to the franchisor. The average Chipotle location contributes about 90% more revenue (250K vs 131K) to the franchisor than the average McDonalds location.

A Chipotle location nets out at about 240K a year. Not terrible. 6 figure salaries for 2 owners.

https://www.fool.com/investing/gene...le-mexican-grill-stores-are-more-than-50.aspx

 

[mkess101]

You are are doing this completely wrong.

You are looking at the net income of Chioptle-the franchisor. And part of the reason the margin is low is they are investing in new locations like a mother fucker. The amount of profit that the locations paid to Chipotle is closer to $500 million. And of course the franchise locations keep a lot more profit than they kick to the franchisor.

A Chipotle location nets out at about 240 a year. Not terrible.

https://www.fool.com/investing/gene...le-mexican-grill-stores-are-more-than-50.aspx

I also think people have this false idea that McDonald's or Wendy's or whatever is way cheaper to the consumer. I hate McDonald's but drove through there a couple weeks ago because my kid needed dinner and we were in a mad rush between her music lesson and swim team practice. Got her a fish filet meal, it was like $7. You can get 3 chicken tacos at Chipotle for 7 bucks. I always get extra black beans too, they don't charge extra for them and they're literally healthier than every single thing that McDonald's serves.

I feel like a paid spokesperson for Chipotle right now LMAO, but there's really no comparison. High quality quick serve restaurants like that would make traditional fast food ones obsolete if people cared one bit about what they put in their bodies. Unfortunately they don't.

 

[I am your real dad]

I am not trying to force people to do anything. I have a job. And I am not the one that can't hire people.

There are plenty of restaurants, even fast food restaurants, that pay people better and do just fine. In-N-Out is a perfect example. Their entry level pay generally starts at well over $13-$14.00 an hour and goes up steadily from there. And their prices are less than what you find at McDonalds, while their food, though still fast food, is immensely higher in quality. To top it all off, the average In-N-Out location absolutely shellacs the average McDonalds location both in sales and profit margin.

http://mastersinvest.com/newblog/2018/10/21/learning-from-lynsi-snyder-in-n-out-burger#:~:text=“An In-N-Out,margin is an estimated 20%.

So- To sum up- better pay for employees, better food at better prices, yet more profitable. Speaking as a consumer and as a parent with kids who will soon be looking for their first teenage jobs, I know what I would prefer opening up down the road.

The younger generations are much more conscientious consumers than their predecessors. I expect businesses operating like In-N-Out have a bright future ahead of them.

That's nice.
You still can't afford any of that if your not making any money Poindexter.

I hope they have a bright future too and I wish them all the best.

 

[ElKarlo]

hate to say it but the americans who do those same jobs are not nearly as professional, clean, hardworking and positive about their work. They might speak better english but they have a lot shittier an attitude when you just want what you came for. Honestly don't know how some places stay open with how rude the workers are.

I’m honestly shocked at how awful many people have turned out. It really is sad at how unprofessional some are. A generation of children never grew up

 

[spiderguarda]

I am not trying to force people to do anything. I have a job. And I am not the one that can't hire people.

There are plenty of restaurants, even fast food restaurants, that pay people better and do just fine. In-N-Out is a perfect example. Their entry level pay generally starts at well over $13-$14.00 an hour and goes up steadily from there. And their prices are less than what you find at McDonalds, while their food, though still fast food, is immensely higher in quality. To top it all off, the average In-N-Out location absolutely shellacs the average McDonalds location both in sales and profit margin.

http://mastersinvest.com/newblog/2018/10/21/learning-from-lynsi-snyder-in-n-out-burger#:~:text=“An In-N-Out,margin is an estimated 20%.

So- To sum up- better pay for employees, better food at better prices, yet more profitable. Speaking as a consumer and as a parent with kids who will soon be looking for their first teenage jobs, I know what I would prefer opening up down the road.

The younger generations are much more conscientious consumers than their predecessors. I expect businesses operating like In-N-Out have a bright future ahead of them.

McDonald’s according to this article are advocates of higher minimum wage.

https://finance.yahoo.com/news/why-...singly-good-news-for-the-stock-163651859.html

Amazon announced they intend to hire 75,000 employees in the US and Canada. This means unskilled labor is in high demand.

 

[Parmenides]

They quit cuz everyone getting rich off of crypto

They will be back when the bubble bursts

 

[pinger]

Lol when Will dipshits learn that minimum wage will continue to be minimum wage, even at $100/h? And whatever happened to "private companies can do whatever they want!" Lmao liberal soyboys.

On the other hand, let's stop pretending that lazy ass entitle Americans, regardless of race, will take some of these jobs regardless of pay.

Lol what an analogy, let's not increase minimum wage because it will still be the minimum wage. Check. Mate.

Do you believe the minimum wage should meet the poverty line? That is the real argument.