Analyzing A Practical Minimum Wage

[Jackinthebox]

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

 

[EdwardBaiamonte]

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

Dear, Applebees is struggling to survive; every penny counts, including the pennys used to pay employees.

 

[EdwardBaiamonte]

two states with vastly different min wage standards.

which states dear????

 

[Jackinthebox]

two states with vastly different min wage standards.

which states dear????

Minnesota pays $7.90. Wisconsin pays $2.33. The chain charges $9.99 for the same burger in both states.

 

[Jackinthebox]

Dear, Applebees is struggling to survive; every penny counts, including the pennys used to pay employees.

Repeating yourself doesn't change the facts.

 

[Skull Pilot]

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

 

[Jackinthebox]

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

 

[Skull Pilot]

And how exactly will my sales increase enough to cover the extra cost? Does paying people more magically result in higher business revenue?

You said all things being equal that my labor cost has no effect of my prices now you say I have to increase my revenue to cover increases in labor costs.

Make up your mind.

Your sales will increase from your employees buying your product.

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

I think the question is more to the point of how do the costs affect prices, which more or less an indeterminate science.

it's actually very exact.

I can tell you how much it costs me to have any one of my employees perform any service and it's related activities. i can also tell you exactly what the materials needed cost, what the equipment use costs. Add to that the cost per minute of keeping the premises heated, cooled lit etc and I can set my prices at the profit level I want.

Of course some market and area pricing competition comes into to play and some services actually are provided at a loss meaning that others must make up the difference so as to make the overall profit margin meet the desired end.

The single biggest factor in those calculations is labor cost.

Your employees are not robots. Nor are your customers, correct? How do you associate, or in your case disassociate rate of pay with production of workers, and customer satisfaction?

Some people will be more productive with a higher rate of pay, they might also dress nicer and be nicer to customers, thus increasing customer sat. That said other people will be less productive with a higher rate of pay.. it sort of depends how the rate of pay is distributed and accepted.

There have been time and motion studies for nearly every industry out there.

It's not hard to figure out the cost per minute of any business.

I have software that tells me exactly what I make or lose on any services I provide

Pricing goods and services is pretty straight forward.

 

[Skull Pilot]

Not enough to cover a tripling in their salaries.

Jack don't know shit in the box says my labor costs have no bearing on the prices of my products and services.

You can't have it both ways. Either labor costs effect prices or they don't.

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

 

[Jackinthebox]

There have been time and motion studies for nearly every industry out there.

It's not hard to figure out the cost per minute of any business.

I have software that tells me exactly what I make or lose on any services I provide

Pricing goods and services is pretty straight forward.

And if that is how you set your prices you are an idiot of a businessman.

If you own a movie theater, and I own a movie theater, and the min wage suddenly doubled... you would double your prices. In the meantime, I would keep my prices the same, enjoy a flood of new customers who suddenly have money to spend, AND I would take all of your customers who refuse to pay for your stupid business decision.

 

[Skull Pilot]

There have been time and motion studies for nearly every industry out there.

It's not hard to figure out the cost per minute of any business.

I have software that tells me exactly what I make or lose on any services I provide

Pricing goods and services is pretty straight forward.

And if that is how you set your prices you are an idiot of a businessman.

If you own a movie theater, and I own a movie theater, and the min wage suddenly doubled... you would double your prices. In the meantime, I would keep my prices the same, enjoy a flood of new customers who suddenly have money to spend, AND I would take all of your customers who refuse to pay for your stupid business decision.

It's part of the equation idiot.

But then again you don't know how to run a business do you?

Tell me how do you figure out the price of a product or service? You magic 8 ball I'll wager

And I never said prices would double I said when labor costs rise the cost of goods and services have to rise as well if a business wants to keep its profit margin.

 

[Jackinthebox]

The consumer doesn't give two shits what your bills and costs are. They will only pay market value for a product, if even that at this point, since so many people can't even afford to pay market value in the first place anymore.

It makes no difference if you pay $2 an hour or $10 an hour. Your Applebees burger is still only worth $9.99

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

Nonsense. I am in partnership with several franchise operations. One of them is a chain of McDonald's restaurants. At one location we still sell the McDouble for a dollar, while at another we charge $1.39. You keep making statements as fact, when clearly you don't know what the hell you are talking about.

 

[Skull Pilot]

Dear, Applebees is struggling to survive every penny counts.

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

Nonsense. I am in partnership with several franchise operations. One of them is a chain of McDonald's restaurants. At one location we still sell the McDouble for a dollar, while at another we charge $1.39. You keep making statements as fact, when clearly you don't know what the hell you are talking about.

so now Mc ds and Applebees have the exact same franchise contracts?

 

[Jackinthebox]

It's part of the equation idiot.

But then again you don't know how to run a business do you?

Tell me how do you figure out the price of a product or service? You magic 8 ball I'll wager

And I never said prices would double I said when labor costs rise the cost of goods and services have to rise as well if a business wants to keep its profit margin.

Double, triple, add ten percent. I don't care how you do it. I still just stole your customers by undercutting your prices and providing better customer service.

 

[Jackinthebox]

Still doesn't change the price of their burger across two states with vastly different min wage standards.

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

Nonsense. I am in partnership with several franchise operations. One of them is a chain of McDonald's restaurants. At one location we still sell the McDouble for a dollar, while at another we charge $1.39. You keep making statements as fact, when clearly you don't know what the hell you are talking about.

so now Mc ds and Applebees have the exact same franchise contracts?

Show me the Applebees contract which dictates the 9.99 price of a burger.

EDIT to add:

Besides, you said wages dictate prices. Franchise or no, contract or no, obviously I have proved you wrong yet again.

 

[Skull Pilot]

It's part of the equation idiot.

But then again you don't know how to run a business do you?

Tell me how do you figure out the price of a product or service? You magic 8 ball I'll wager

And I never said prices would double I said when labor costs rise the cost of goods and services have to rise as well if a business wants to keep its profit margin.

Double, triple, add ten percent. I don't care how you do it. I still just stole your customers by undercutting your prices and providing better customer service.

Sorry but i run a real business not one of your hypothetical ones.

If you undercut my prices in my business I guarantee you'd be out of business.

But then again you said you refuse to give your people the pay you say everyone else should pay their employees.

Tell you what at the first of the year you pay all your employees 25 an hour and keep your prices the same and see what happens

 

[Skull Pilot]

You don't understand that a national chain factors in cost of labor over tall its stores do you?

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

Nonsense. I am in partnership with several franchise operations. One of them is a chain of McDonald's restaurants. At one location we still sell the McDouble for a dollar, while at another we charge $1.39. You keep making statements as fact, when clearly you don't know what the hell you are talking about.

so now Mc ds and Applebees have the exact same franchise contracts?

Show me the Applebees contract which dictates the 9.99 price of a burger.

EDIT to add:

Besides, you said wages dictate prices. Franchise or no, contract or no, obviously I have proved you wrong yet again.

Get the franchise contract and look it up yourself

 

[Jackinthebox]

It's part of the equation idiot.

But then again you don't know how to run a business do you?

Tell me how do you figure out the price of a product or service? You magic 8 ball I'll wager

And I never said prices would double I said when labor costs rise the cost of goods and services have to rise as well if a business wants to keep its profit margin.

Double, triple, add ten percent. I don't care how you do it. I still just stole your customers by undercutting your prices and providing better customer service.

Sorry but i run a real business not one of your hypothetical ones.

If you undercut my prices in my business I guarantee you'd be out of business.

But then again you said you refuse to give your people the pay you say everyone else should pay their employees.

Tell you what at the first of the year you pay all your employees 25 an hour and keep your prices the same and see what happens

I am tired of repeating myself. You know nothing about business. These are basic principles that I am talking about here. You don't even know what a friggn franchise is.

 

[Jackinthebox]

You don't even know what a franchise is. Lol. Why do I bother.

You don't know that the individual franchisees don't set the prices do you?

Nonsense. I am in partnership with several franchise operations. One of them is a chain of McDonald's restaurants. At one location we still sell the McDouble for a dollar, while at another we charge $1.39. You keep making statements as fact, when clearly you don't know what the hell you are talking about.

so now Mc ds and Applebees have the exact same franchise contracts?

Show me the Applebees contract which dictates the 9.99 price of a burger.

EDIT to add:

Besides, you said wages dictate prices. Franchise or no, contract or no, obviously I have proved you wrong yet again.

Get the franchise contract and look it up yourself

I don't have to. I already know you are talking out of your ass.

 

[Skull Pilot]

It's part of the equation idiot.

But then again you don't know how to run a business do you?

Tell me how do you figure out the price of a product or service? You magic 8 ball I'll wager

And I never said prices would double I said when labor costs rise the cost of goods and services have to rise as well if a business wants to keep its profit margin.

Double, triple, add ten percent. I don't care how you do it. I still just stole your customers by undercutting your prices and providing better customer service.

Sorry but i run a real business not one of your hypothetical ones.

If you undercut my prices in my business I guarantee you'd be out of business.

But then again you said you refuse to give your people the pay you say everyone else should pay their employees.

Tell you what at the first of the year you pay all your employees 25 an hour and keep your prices the same and see what happens

I am tired of repeating myself. You know nothing about business. These are basic principles that I am talking about here. You don't even know what a friggn franchise is.

Basic principles?

You think labor costs don;t factor into product costs and you are trying to tell me about basic principles

That's funny.

And btw there are franchises where the company tells the owner what to charge for everything. But then again you don't know that either.