Somebody explain how this can be true at the same time as it is true that a 2.7MM-grossing US McD’s paying an average $11/hr nets just $150k/yr.https://twitter.com/BernieSanders/status/1258841099407372289 …
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Replying to @tqbf
The rent is too damn high. Real-estate in the right location is the truly scarce commodity, and in practice that's what soaks up the commercial value left after running costs and just enough margin to keep the tenants from closing every year.
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Replying to @colmmacc
Rent is like 60% of crew wages in the McD’s breakdowns I’m seeing, so even if you ZEROED OUT rent you can’t make 2x average wages work.
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Replying to @tqbf
But what is it in Denmark? Rent is basically a function of physical businesses revenues and costs. It's not a fixed cost. Landlords will always adjust to whatever is just barely sustainable for the the marginal tenants.
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Wait, I follow you now. Maybe part of the difference is the number of staff. 24 hour locations are way way less common outside of the US.
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Replying to @colmmacc
But doesn’t revenue scale along with the operating hours to at least some extent?
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If it did, all of retail of would be 24 hour. Small businesses like franchises and bodegas tend to go 24 hour because it's more real income for the owner. But then Macy's doesn't because it lowers ROI.
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But in the US you're going to have an easier time finding a minimum wage employee to work the night shift in a burger joint. A Dane is gonna laugh at that.
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