HEY HR FOODIES: Stop Dreaming About Opening a Restaurant - Here's Why.
The HR Capitalist
NOVEMBER 1, 2016
To further break down the formula, a healthy restaurant aims to spend about 10 percent of its sales revenue on rent, utilities and other occupancy costs; 30 to 40 percent on labor (your specialty if you're readying this blog) including payroll taxes and benefits; and 30 percent on food and beverages. In all three cities, restaurants pay more than the federally mandated minimum hourly wage of $7.25, and each city plans an increase to $15 over the next few years.