Just about every small business owner– including franchise owners, are in an absolute tizzy over a pretty radical idea proposed by the POTUS.
In his SOTU address, President Obama proposed raising the minimum wage from $7.25 an hour all the way up to $9.00 an hour.
Over three years.
New March on San Francisco Planned
It’s rumored that the head of the National Association of Really Whacko Small Business Owners (NAORWSBO) is (as we speak) putting together a march to protest the minimum wage hike proposal laid out by POTUS.
Unnamed sources inside the NAORWSBO told me that the march will take place within the next month.
The march, tentatively named “Occupy And Jump,” will start in Washington DC and end up in San Francisco-on the Golden Gate Bridge.
Protesters are set to “Occupy” the Golden Gate Bridge for a period of 9 hours, and then “Jump” (simultaneously) into San Francisco Bay.
Entire Businesses Will Need To Change
Do you realize that McDonald’s franchisees all over the US are going to have to come to grips with the fact that they may have to add 58 cents an hour to some of their employee’s paychecks.
Every year for 3 years.
The entire McDonald’s business model will be turned upside down.
Some simple math tells the story…
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
Employees who work 40 hours a week, will have $23.20 added to their paychecks every week. (0.58 x 40 = 23.20)
That’s almost $100 a month. Before taxes.
Surcharges Coming To A Store Near You
If small business owners end up having to pay their minimum wage workers $23.00 more a week , the US economy could go into a tailspin. Small business owners may have to raise their prices to make up for the 58 cent an hour wage increase. Some may even have to close up shop. Could a new march on San Francisco contribute to this potential fiasco?
I can see the headlines now:
“Fast Food Establishments Tacking On Surcharges, And It’s All Obama’s Fault.”
Whoops. Never mind.
And look what happened.
*Image courtesy of ground zero on Flickr