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The Daily

Franchisees Sweating $15 Fast Food Wage

Chris Gaetano
Published Date:
Jul 30, 2015
'Hamburger - Patty and Bun, London (1)' by Ewan MunroThe recent decision by the New York State Fast Food Wage Board to recommend a $15 an hour minimum wage for industry workers has franchise owners worrying how they will afford the new rate, according to CNN Money. Franchise owners said that they will likely cut staff and raise prices, said CNN Money, but this can be a delicate balancing act: not only do they still need at least some people to operate, but they also have to worry whether customers will be willing to pay higher prices. While the measure is meant to only apply to companies with 30 or more locations nationwide, CNN Money notes that this can also affect businesses outside this scope. With fast food paying as much as it will, other restaurant owners will feel pressure to raise their own wages to stay competitive in terms of attracting staff, said CNN Money. While the increased labor costs alone are a worry for the 116 franchises that will be affected by the new wage, it will be coming at a time when restaurants everywhere are also contending with the rising price of food.