All restaurants work off a similar model
As a percent of sales
25% ish labor including salaried managers gross taxes etc
35% ish cogs
5-10% ish rent
15% ish overhead
20% ish profit
mcdonalds averaging 2,700,000 in sales is making around $500k profit before taxes
let’s call it $375,000 after taxes
it cost between 1 mil and 2 mil to open one
let’s call it $1.5
that’s roughly a 4 year payback period and considering the volatility of restaurants that’s about right
Does a chef at a fancy restaurant make more than minimum wage? Duh but he is also WAY more skilled than a McDonald’s cook.
News flash - most employees at McDonald’s make 20% plus over minimum wage.
Many make double minimum wage.
Career path if you want to work in a restaurant and make a enough money to pay rent?
Start your job. Show up every day you are scheduled on time and work hard. Get a second job. Working 55 hrs a week isn’t that big of a deal for lots of middle class Americans.
Learn all of the positions.
Volunteer for extra shifts.
Be nice to customers.
Follow instructions.
Start looking for a nicer restaurant where you can show and communicate what you’ve done.
Basically a road map to success in life in general.
now you know
As a percent of sales
25% ish labor including salaried managers gross taxes etc
35% ish cogs
5-10% ish rent
15% ish overhead
20% ish profit
mcdonalds averaging 2,700,000 in sales is making around $500k profit before taxes
let’s call it $375,000 after taxes
it cost between 1 mil and 2 mil to open one
let’s call it $1.5
that’s roughly a 4 year payback period and considering the volatility of restaurants that’s about right
Does a chef at a fancy restaurant make more than minimum wage? Duh but he is also WAY more skilled than a McDonald’s cook.
News flash - most employees at McDonald’s make 20% plus over minimum wage.
Many make double minimum wage.
Career path if you want to work in a restaurant and make a enough money to pay rent?
Start your job. Show up every day you are scheduled on time and work hard. Get a second job. Working 55 hrs a week isn’t that big of a deal for lots of middle class Americans.
Learn all of the positions.
Volunteer for extra shifts.
Be nice to customers.
Follow instructions.
Start looking for a nicer restaurant where you can show and communicate what you’ve done.
Basically a road map to success in life in general.
now you know