I read an article some months back about a pizzeria in one of the states with the $15 min wage. The prices were absurd. It might have been $35-40 for a large pizza. Sales plunged and yet the guy had no option to cut prices as he had a large increase in fixed costs.
OTOH, one of the national chains with massive scalability will be able to offset that large increase in labor costs and yet again the smaller, independent operator will be forced out of business.
OTOH, one of the national chains with massive scalability will be able to offset that large increase in labor costs and yet again the smaller, independent operator will be forced out of business.
