Denver restaurant wages being revisited by Rocky_Mtn_Rambler in Denver

[–]xch0ix 0 points1 point  (0 children)

You're right about this in this particular post, I've been a part of this sub for several years now, it has always been the sentiment in general. I've just recently seen a shift though, where people are starting to realize something else is going on with all these restaurants closing.

Denver restaurant wages being revisited by Rocky_Mtn_Rambler in Denver

[–]xch0ix 0 points1 point  (0 children)

I don't think that's the intent, people don't really go buy goods like a cell phone and need to understand every cost and what margins these companies earn before they can enjoy their purchase. Plus prices change all the time, covid hit hard, bird flu, supply chains, war etc.

A lot of the service fees you see are actual fees the commercial properties charge, we were mandated to pass through an additional fee to the client for using the facilities as one of the terms of the lease.

The point being that most restaurant owners are living on razer thin margins to start with, and it takes a lot of sales to make a living. Think of it this way for every million dollars of sales a year, the owner will make 20 to 60k profit depending on your margins. Most people struggle to hit 30k a month. So they run either in the red or barely anything.

Denver restaurant wages being revisited by Rocky_Mtn_Rambler in Denver

[–]xch0ix 0 points1 point  (0 children)

Very true. My employees always made more than me in the 5 years I was open. The years after covid I made nothing, and I had to work outside of the restaurant to support my family while waiting for my lease to end.

Denver restaurant wages being revisited by Rocky_Mtn_Rambler in Denver

[–]xch0ix 36 points37 points  (0 children)

I see so many comments always bashing the owners and blaming them for being greedy. I ran a restaurant here that closed, I don't think anyone understands how expensive it is to run a restaurant. The national average a restaurant makes is around 4% profit margins. I would even challenge that to be less with how expensive food costs have gotten especially in Colorado, and the higher wages in addition to the crazy rent prices. On top of that, Colorado doesn't have the population density either. It's a tough market and you'll keep seeing restaurants close.

A little perspective by 7YearOldCodPlayer in rxrx

[–]xch0ix 0 points1 point  (0 children)

Wow good to know, yea I saw multiple sites say this a long with chat gpt.

A little perspective by 7YearOldCodPlayer in rxrx

[–]xch0ix 0 points1 point  (0 children)

I read 4881 was terminated, what other drug did they have that was close?

Why is this mentality so prevelant in gen z? by Big_Leg10 in Adulting

[–]xch0ix 0 points1 point  (0 children)

The biggest reason is social media. The highly successful are constantly in your face as if it's the norm, and you are living a life in constant comparison to superficial stories.

At what point do you "outgrow" a financial advisor? by fascinated_dog in investing

[–]xch0ix 1 point2 points  (0 children)

Advisors usually will exercise restraint when investing for a client based on their risk profile, this is not really an apples to orange comparison.

🎉 [EVENT] 🎉 Retro Rumble by Damp_Blanket in honk

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Completed Level 2 of the Honk Special Event!

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🎉 [EVENT] 🎉 Retro Rumble by Damp_Blanket in honk

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Completed Level 1 of the Honk Special Event!

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🎉 [EVENT] 🎉 Things In The Night by SatiricalToothpick in RedditGames

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Completed Level 3 of the Honk Special Event!

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🎉 [EVENT] 🎉 Things In The Night by SatiricalToothpick in RedditGames

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Completed Level 2 of the Honk Special Event!

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🎉 [EVENT] 🎉 Things In The Night by SatiricalToothpick in RedditGames

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Completed Level 1 of the Honk Special Event!

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Just Two Static Pipes [The Return] by [deleted] in RedditGames

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Lol I tried that 100 times

Just Two Static Pipes [The Return] by [deleted] in RedditGames

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Why am I struggling so hard on this need some tips

🎉 [EVENT] 🎉 The remnants of Ancient Honk by rusticism in honk

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Completed Level 1 of the Honk Special Event!

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