Wendy's, McDonald's, Denny's in Worker's Wages Dispute Spotlight
Host Robert Irvine has been working his magic not only on this LBI dining fixture, but also on the kitchen at the nearby Ship Bottom Volunteer firehouse; also destroyed by Sandy. The restaurant is scheduled to reopen tomorrow morning, and I hope to be there when it does.
Indeed the terms "Restaurant: Impossible" are an accurate description of what is one of the more competitive, and tougher businesses to operate successfully. Just take a look at what Denny's
The costs of running restaurants are high, with labor costs and food costs ranking either first or second, depending on the particular chain. Food costs are prone to inflation, and when combined with labor costs you have the makings of some potentially thin margins. That does not mean that's there's no money to be made; some chains are very profitable, but that can turn on a dime.
All of which makes this week's employee strikes at fast food restaurants around the country all the more concerning. Striking workers, who are seeking $15 an hour, more than twice the current minimum wage, have forced some restaurants to shut down. It is doubtful, in my view, that they will be successful in obtaining the wage increase, and even if they did, customers would likely not pay the price increases that would come as a result.