In my business, out of every dollar in sales, 70 cents is divided up among goods, utilities, etc. Of the remaining 30 cents, 20 cents goes to my employees, 5 cents to the bank and lastly, 5 cents to my wife and me.

If minimum wage goes up to $15 an hour, my payroll would increase to over 30 cents on the dollar, which means my business would show a yearly deficit and I, the owner, wouldn’t get paid.

So, what changes would I be forced to make in order to keep my 50-plus-year business sustainable?

First, I would cut operating hours from 46 hours each day among three locations to the most profitable 30 to 36 hours each day.

Second, I would have cut three to four employees at each location so that only the most efficient people are on my staff.

Lastly, I would increase prices on all of my products.

Ed Anania


Only subscribers are eligible to post comments. Please subscribe or to participate in the conversation. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.