Applebee's Owner: The Truth About $15 Minimum Wage

The parent company of Applebee's and IHOP plans to close up to 160 restaurants, vastly boosting the number of eateries from the two comfort-food chains that it plans to shutter.

Some 105 to 135 Applebee's restaurants will close, up from the 40 to 60 that parent DineEquity said would close in the first quarter. Also on the chopping block are an estimated 20 to 25 IHOP sites, up from about 18.

As many as 160 Applebee's and IHOP locations to close

Did you read the link? The 'closed stores' are being re-branded.
 
Yes, we must eliminate profit, for the proletariat!

I never wrote that.

No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?





No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.
 
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.

It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?

last year Walmart made $132B in gross profit.

What tax rate did they pay?
 
Matt recently brought you up to date on how liberals’ minimum wage demands have done severe damage to Seattle's and New York’s businesses. He highlighted a New York Post report revealing that, in the wake of the increased rate to $15 an hour, New York lost a staggering 1,000 restaurants.

Applebee's was one of the businesses that has been especially hard pressed by the minimum wage hike. Zane Tankel, the CEO of Applebee’s New York franchise, explained that his restaurants were forced to fire at least 1,000 employees so far thanks to the liberal policy. He shared the unfortunate news with Fox Business's Stuart Varney on Monday.

Instead of typical servers, the CEO explained that they will soon be replaced by concierges, who merely check on customers from time to time to make them feel "warm and comfortable."

"The model now that we're heading towards where we had one server for three or four tables, we're moving towards one server for ten tables, eliminating about two-thirds of our labor ultimately. But it's because of Cuomo, De Blasio, the liberal agenda."

If Applebee's completely follows through with its concierge service, nearly 2,000 employees will be heading for the exit, Newsbusters explains.

Tankel discussed this same issue with Varney in January, back when he had *only* fired 500 employees.

“We can’t raise prices anymore,” he said at the time, rather candidly, so they had to take drastic measures.

The lost workers, he explained, could be replaced with tablets that are placed on customers’ tables.

"Increasing minimum wage is technology's best friend," Tankel concluded.
Frankly Applebee's proved to me that you need a large amount of cash for a small portion...Of food...
 
I never wrote that.

No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?

No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.

If restaurants make such crappy profits, why do we have so many restaurants?
 
Matt recently brought you up to date on how liberals’ minimum wage demands have done severe damage to Seattle's and New York’s businesses. He highlighted a New York Post report revealing that, in the wake of the increased rate to $15 an hour, New York lost a staggering 1,000 restaurants.

Applebee's was one of the businesses that has been especially hard pressed by the minimum wage hike. Zane Tankel, the CEO of Applebee’s New York franchise, explained that his restaurants were forced to fire at least 1,000 employees so far thanks to the liberal policy. He shared the unfortunate news with Fox Business's Stuart Varney on Monday.

Instead of typical servers, the CEO explained that they will soon be replaced by concierges, who merely check on customers from time to time to make them feel "warm and comfortable."

"The model now that we're heading towards where we had one server for three or four tables, we're moving towards one server for ten tables, eliminating about two-thirds of our labor ultimately. But it's because of Cuomo, De Blasio, the liberal agenda."

If Applebee's completely follows through with its concierge service, nearly 2,000 employees will be heading for the exit, Newsbusters explains.

Tankel discussed this same issue with Varney in January, back when he had *only* fired 500 employees.

“We can’t raise prices anymore,” he said at the time, rather candidly, so they had to take drastic measures.

The lost workers, he explained, could be replaced with tablets that are placed on customers’ tables.

"Increasing minimum wage is technology's best friend," Tankel concluded.

One server for ten tables has been an industry norm for decades. The story is a lie.

https://www.quora.com/What-is-the-ideal-waiter-to-table-ratio-in-a-restaurant

I find this response utterly baffling.

"Prices have gone up now we're just going to have to fire people and provide terrible service"

This is what innovation is all about. Wages are just one of hundreds perhaps even thousands of costs that go into running a business. Complaining that when one of those costs increases means that you can't run your business effectively?

Again, this is just a bias toward business and places the burden on workers.

This, of course, is why the distribution of wealth and income matters.

Wages may be one of thousands of factors, but wages are generally 30% of costs, higher in service industries, so wages are one of the most significant factors. Top 4 for sure.
 
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.

It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?

last year Walmart made $132B in gross profit.

What tax rate did they pay?

They paid 3% of total revenue in ALL taxes. The American worker pays 12% of wages in taxes.
 
Matt recently brought you up to date on how liberals’ minimum wage demands have done severe damage to Seattle's and New York’s businesses. He highlighted a New York Post report revealing that, in the wake of the increased rate to $15 an hour, New York lost a staggering 1,000 restaurants.

Applebee's was one of the businesses that has been especially hard pressed by the minimum wage hike. Zane Tankel, the CEO of Applebee’s New York franchise, explained that his restaurants were forced to fire at least 1,000 employees so far thanks to the liberal policy. He shared the unfortunate news with Fox Business's Stuart Varney on Monday.

Instead of typical servers, the CEO explained that they will soon be replaced by concierges, who merely check on customers from time to time to make them feel "warm and comfortable."

"The model now that we're heading towards where we had one server for three or four tables, we're moving towards one server for ten tables, eliminating about two-thirds of our labor ultimately. But it's because of Cuomo, De Blasio, the liberal agenda."

If Applebee's completely follows through with its concierge service, nearly 2,000 employees will be heading for the exit, Newsbusters explains.

Tankel discussed this same issue with Varney in January, back when he had *only* fired 500 employees.

“We can’t raise prices anymore,” he said at the time, rather candidly, so they had to take drastic measures.

The lost workers, he explained, could be replaced with tablets that are placed on customers’ tables.

"Increasing minimum wage is technology's best friend," Tankel concluded.

One server for ten tables has been an industry norm for decades. The story is a lie.

https://www.quora.com/What-is-the-ideal-waiter-to-table-ratio-in-a-restaurant

I find this response utterly baffling.

"Prices have gone up now we're just going to have to fire people and provide terrible service"

This is what innovation is all about. Wages are just one of hundreds perhaps even thousands of costs that go into running a business. Complaining that when one of those costs increases means that you can't run your business effectively?

Again, this is just a bias toward business and places the burden on workers.

This, of course, is why the distribution of wealth and income matters.

Wages may be one of thousands of factors, but wages are generally 30% of costs, higher in service industries, so wages are one of the most significant factors. Top 4 for sure.

Are you sure wages aren't over 50% of costs?
 
No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?

No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.

If restaurants make such crappy profits, why do we have so many restaurants?








Because foodies like to cook. Good ones can make a decent living at it. Very, very few become rich doing it. Like most progressives you haven't got a clue what you're speaking about. The people who make shitloads of money for doing nothing but screwing people are scumbags like your hero soros, who bankrupted public employee pension funds all over the world, and the other wall street bankers and hedge fund managers who have been screwing people over, with the help of their paid politicians, for decades.

The small family run restaurant, and other small businesses are making enough to get by and put some away for a rainy day. You asshats want to put onerous regulations on those people, which will drive them out of business, which then helps your multinational corporate bosses to take over that market. You fascist wannabe's are the worst enemy that small businesses could ever have, you know nothing but are loud, and annoying useful idiots who support the huge corporations in their efforts to control every aspect of our lives.
 
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.

It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?

last year Walmart made $132B in gross profit.

What tax rate did they pay?

They paid 3% of total revenue in ALL taxes. The American worker pays 12% of wages in taxes.

They paid 3% of total revenue in ALL taxes.

There is no revenue tax.

What tax rate did they pay?
 
Matt recently brought you up to date on how liberals’ minimum wage demands have done severe damage to Seattle's and New York’s businesses. He highlighted a New York Post report revealing that, in the wake of the increased rate to $15 an hour, New York lost a staggering 1,000 restaurants.

Applebee's was one of the businesses that has been especially hard pressed by the minimum wage hike. Zane Tankel, the CEO of Applebee’s New York franchise, explained that his restaurants were forced to fire at least 1,000 employees so far thanks to the liberal policy. He shared the unfortunate news with Fox Business's Stuart Varney on Monday.

Instead of typical servers, the CEO explained that they will soon be replaced by concierges, who merely check on customers from time to time to make them feel "warm and comfortable."

"The model now that we're heading towards where we had one server for three or four tables, we're moving towards one server for ten tables, eliminating about two-thirds of our labor ultimately. But it's because of Cuomo, De Blasio, the liberal agenda."

If Applebee's completely follows through with its concierge service, nearly 2,000 employees will be heading for the exit, Newsbusters explains.

Tankel discussed this same issue with Varney in January, back when he had *only* fired 500 employees.

“We can’t raise prices anymore,” he said at the time, rather candidly, so they had to take drastic measures.

The lost workers, he explained, could be replaced with tablets that are placed on customers’ tables.

"Increasing minimum wage is technology's best friend," Tankel concluded.

One server for ten tables has been an industry norm for decades. The story is a lie.

https://www.quora.com/What-is-the-ideal-waiter-to-table-ratio-in-a-restaurant

I find this response utterly baffling.

"Prices have gone up now we're just going to have to fire people and provide terrible service"

This is what innovation is all about. Wages are just one of hundreds perhaps even thousands of costs that go into running a business. Complaining that when one of those costs increases means that you can't run your business effectively?

Again, this is just a bias toward business and places the burden on workers.

This, of course, is why the distribution of wealth and income matters.

Wages may be one of thousands of factors, but wages are generally 30% of costs, higher in service industries, so wages are one of the most significant factors. Top 4 for sure.

Are you sure wages aren't over 50% of costs?

Could be. Depends on the industry. Could be over 75% or even higher.
 
I never wrote that.

No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?

No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.

Why don't you ask your Executive Chef friend these questions;

1) Who provides their food?

2) How is the food bill paid?

3) Is the food ordered by store or collectively by brands?

4) Percent markup on food and booze?
 
No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?

No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.

Why don't you ask your Executive Chef friend these questions;

1) Who provides their food?

2) How is the food bill paid?

3) Is the food ordered by store or collectively by brands?

4) Percent markup on food and booze?







1. They do. They source the raw materials from local farms whenever possible.

2. By check

3. The raw material is ordered by individual restaurant, go's to a central office which collates the orders so they can do mass buys to save money and then the buyers head out to fill the orders.

4. Food markup is around 8-10% depending on which restaurant it is, the booze markup is over 40% depending on the type. Wine tends to get the best markup, but not always.
 
Yes, we must eliminate profit, for the proletariat!

I never wrote that.

No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?


20~30% lol, talk about blowing smoke..I see you are still bullshitting


Gross Profit Margins for Upscale Restaurants




According to "Forbes" magazine, the average gross profit margin for a fine-dining restaurant is around 60 percent. Based on their stated 38 to 42 percent food cost range, if you sell an entree for $30, the food cost will be between $11.40 and $12.60, leaving a gross profit of $17.40 to $18.60. However, food costs are only a portion of what upscale restaurants pay, and their net profit margins typically fall between 5 and 8 percent.

.

 
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.

It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?

last year Walmart made $132B in gross profit.

What tax rate did they pay?

They paid 3% of total revenue in ALL taxes. The American worker pays 12% of wages in taxes.

They paid 3% of total revenue in ALL taxes.

There is no revenue tax.

What tax rate did they pay?

I didn't write there was.
 
If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?

No, you haven't, and no you don't. A good friend of mine is the Executive Chef for Hyatt Hotels worldwide, and he is far more knowledgeable in how they function than a known liar such as you.

Why don't you ask your Executive Chef friend these questions;

1) Who provides their food?

2) How is the food bill paid?

3) Is the food ordered by store or collectively by brands?

4) Percent markup on food and booze?


1. They do. They source the raw materials from local farms whenever possible.

2. By check

3. The raw material is ordered by individual restaurant, go's to a central office which collates the orders so they can do mass buys to save money and then the buyers head out to fill the orders.

4. Food markup is around 8-10% depending on which restaurant it is, the booze markup is over 40% depending on the type. Wine tends to get the best markup, but not always.

1) Sysco, through international contract. Local flavors

2) By wire transfer BEFORE the order is shipped.

3) Under an international contract food is ordered and delivered to the individual locations.

4) Food mark-up is minimum 400%, booze 500% to 700% or more.
 
I never wrote that.

No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?


20~30% lol, talk about blowing smoke..I see you are still bullshitting


Gross Profit Margins for Upscale Restaurants




According to "Forbes" magazine, the average gross profit margin for a fine-dining restaurant is around 60 percent. Based on their stated 38 to 42 percent food cost range, if you sell an entree for $30, the food cost will be between $11.40 and $12.60, leaving a gross profit of $17.40 to $18.60. However, food costs are only a portion of what upscale restaurants pay, and their net profit margins typically fall between 5 and 8 percent.

Which it should. Less taxes.

You forgot to mention; owners pay, spouse pay, kids pay, house payment, vacation home payment, girl friend/sugar baby payment, car payment, etc, all of which are deducted BEFORE NET PROFIT.
 
No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?


20~30% lol, talk about blowing smoke..I see you are still bullshitting


Gross Profit Margins for Upscale Restaurants




According to "Forbes" magazine, the average gross profit margin for a fine-dining restaurant is around 60 percent. Based on their stated 38 to 42 percent food cost range, if you sell an entree for $30, the food cost will be between $11.40 and $12.60, leaving a gross profit of $17.40 to $18.60. However, food costs are only a portion of what upscale restaurants pay, and their net profit margins typically fall between 5 and 8 percent.

Which it should. Less taxes.

You forgot to mention; owners pay, spouse pay, kids pay, house payment, vacation home payment, girl friend/sugar baby payment, car payment, etc, all of which are deducted BEFORE NET PROFIT.



*SMFH*



.
 
No, but it's what you meant. Restaurants are not huge money makers, they get by on a 5 to 10 percent profit if they are lucky. Taking a one to two percent hit is enough to close them. Not exactly the evil corporatist you try and make them out to be.

If that's what I meant, that's what I'd have written.

A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.


You're dreaming. High end venues average 8% profit. One restaurant in S.F. is able to make that 25% profit margin. One. The others are nowhere near that. It has the benefit of a captive market. As usual you know nothing of what you are talking.

I've invested in restaurants. I know the numbers. A well planned/financed restaurant IS a huge money maker. At the low end, 20%. At the high end, 30% or more.

Which 'one' restaurant do you write of?


20~30% lol, talk about blowing smoke..I see you are still bullshitting


Gross Profit Margins for Upscale Restaurants




According to "Forbes" magazine, the average gross profit margin for a fine-dining restaurant is around 60 percent. Based on their stated 38 to 42 percent food cost range, if you sell an entree for $30, the food cost will be between $11.40 and $12.60, leaving a gross profit of $17.40 to $18.60. However, food costs are only a portion of what upscale restaurants pay, and their net profit margins typically fall between 5 and 8 percent.

Which it should. Less taxes.

You forgot to mention; owners pay, spouse pay, kids pay, house payment, vacation home payment, girl friend/sugar baby payment, car payment, etc, all of which are deducted BEFORE NET PROFIT.

The owner does not get to write off his morgage, kids tuition, sidechick, etc. That would all be under owner's pay, if the owner even draws a salary.
 
I had to go to Walmart today on the wife's orders. Since I don't usually shop there I am not all that familiar with them. What struck me though, while watching the poor customer service, the rude behavior and the inability to make change, is that none of the employees I saw seemed to be worth whatever they are being paid let alone raising them to $15. A quick trip there should kill the idea of raising the minimum wage for any observant person.

It's amazing that with the bad employees that you listed, last year Walmart made $132B in gross profit. So maybe you're blowing smoke?

last year Walmart made $132B in gross profit.

What tax rate did they pay?

They paid 3% of total revenue in ALL taxes. The American worker pays 12% of wages in taxes.

They paid 3% of total revenue in ALL taxes.

There is no revenue tax.

What tax rate did they pay?

I didn't write there was.

I asked what rate, you mentioned revenue.

Now that you realize your error, what tax rate did they pay?
 

Forum List

Back
Top