5 ms·

The restaurant and bar industry has always been notoriously tough. Most fail. Competition is fierce. Successful owners have to hustle to get top line revenue an

The restaurant and bar industry has always been notoriously tough. Most fail. Competition is fierce. Successful owners have to hustle to get top line revenue and maintain cost discipline down to individual shifts and boxes of napkins. My opinion is that the US has an oversupply of restaurants. It’s fundamentally a luxury service. People have come to expect to eat out often at rock bottom prices. We have even bent our labor laws ($2.13) to perpetuate the current market equilibrium.

golemiprague 5y ago
It's because we took women out of home and pushed them into corporates where they do much less valuable work like diversity and inclusion officer, comparing to the jobs they used to do at home like, cooking, cleaning, laundry, private teachers, mental support, gardening and old age care, to name a few. So suddenly you need restaurants to cover for that, and psychologists and and cheap mexican slave labourers and ritalin and florida and what not. Economically wise, women were much more valuable as housewives.
Frost1x 5y ago
I think when people mention ideas like taking a hit to business profit margins vs the new boiler plate "it will increase consumer costs" they're typically not talking about Bill's Steak House down the street, they're talking about businesses with massive profit margins that are ruling over larger and generalized markets, at least that's what I read. With that said the resutraunt labor rate is a bit misleading because businesses are required to pay the standard minimum wage or more in some areas. $2.13 is only what's paid if $2.13 + total tips average out to more or above what the person would earn at minimum wage. This means it's returaunt goers subsidizing business labor expenses. Now, one could argue if that's good/not or if the minimum wage is too low and I'd agree with them but the whole $2.13 or whatever figure touted around is misleading, it's absolutely not that low and if it is, it's illegal and wage theft.

golemiprague 5y ago

It's because we took women out of home and pushed them into corporates where they do much less valuable work like diversity and inclusion officer, comparing to the jobs they used to do at home like, cooking, cleaning, laundry, private teachers, mental support, gardening and old age care, to name a few. So suddenly you need restaurants to cover for that, and psychologists and and cheap mexican slave labourers and ritalin and florida and what not. Economically wise, women were much more valuable as housewives.

Frost1x 5y ago

I think when people mention ideas like taking a hit to business profit margins vs the new boiler plate "it will increase consumer costs" they're typically not talking about Bill's Steak House down the street, they're talking about businesses with massive profit margins that are ruling over larger and generalized markets, at least that's what I read. With that said the resutraunt labor rate is a bit misleading because businesses are required to pay the standard minimum wage or more in some areas. $2.13 is only what's paid if $2.13 + total tips average out to more or above what the person would earn at minimum wage. This means it's returaunt goers subsidizing business labor expenses. Now, one could argue if that's good/not or if the minimum wage is too low and I'd agree with them but the whole $2.13 or whatever figure touted around is misleading, it's absolutely not that low and if it is, it's illegal and wage theft.