95% of McDonald’s are franchised. Virtually all of the people you will ever see at a McDonald’s really work for “John Doe’s Eastern McDonald’s Franchises #2 LLC” and are therefore not counted.
… 13 employees working at all times they are open? lol. Shit they likely average 6. One being a shift who already makes above minimum wage (though to be honest its probably not even 20 or 30/hr). Also, customers does not equal meals. Very hard to get a good read on that when you’re overestimating minimum wage hours worked and underestimating amount of products sold.
McDonald’s has ~69,000,000 customers per day.
There are ~40,000 McDonald’s locations.
Assuming a McDonald’s averages about 13 employees working at any time and it’s open for 18 hours a day…
They would have to raise meal prices about $2 on average to double wages, ignoring any drop in sales that might cause. (Generally, if a restaurant thought it could make more money by just raising prices, it would have done so a long time ago.)
McDonald’s has around 200k employees. In your analysis, you assume they have 520k. And that’s assuming they all work in the branches, which is silly.
Buy based just on your numbers, adjusting for actual employees, the increase would be less than a dollar.
95% of McDonald’s are franchised. Virtually all of the people you will ever see at a McDonald’s really work for “John Doe’s Eastern McDonald’s Franchises #2 LLC” and are therefore not counted.
More than 1.7 million people work at McDonald’s.
That’s a really good point. Hadn’t thought of that at all.
13 employees per day? What the hell well maintained, well staffed McDonald’s are you going to? Most of them run on skeleton crews of less than 7 now.
Lol 7? Like at one time? Try 4
I was being incredibly generous
I’ll have to check when I get home what wolfram alpha did but it is not showing on the link currently just says error.
If you are just taking money in to money out you are thinking labor is 100% of the cost of everything, which like, lol no.
I did: ($15 × 13 × 18) ÷ (69000000 ÷ 40000) = $2.03
… 13 employees working at all times they are open? lol. Shit they likely average 6. One being a shift who already makes above minimum wage (though to be honest its probably not even 20 or 30/hr). Also, customers does not equal meals. Very hard to get a good read on that when you’re overestimating minimum wage hours worked and underestimating amount of products sold.