(06-09-2016, 05:33 PM)RolloTheGreat Wrote: BoFox:
https://startupnation.com/community/view...php?t=8830
Quote:If you have a store that is merely average you should profit in the ballpark of $80k/yr.
From a guy who owns 3 Subways.
https://www.quora.com/How-much-does-the-...-owner-net
Quote:The average store in the US does a little shy of $8,000/week. So for easy round numbers lets say the average store does $400k/year. It is relatively easy to pull 20% profit if you keep an eye on the business. I averaged 22.63% for the first quarter this year and I was in my stores an average of 10 hours or less per week so 20% is not that hard.
I don't consider families with $80k income "wealthy" or think they can spare $50K.
YOU probably make around $150K based on what you have said here, how would it work out for you if your family lost $50K of income due to a new law?
Only $150K?!? I'm really offended, Rollo. Just kidding.
Ok, ok, that guy has 3 stores, puts 10 hours OR LESS each week into each store, and still pulls 22-23% profit from these stores. That's not even a full-time job. I don't think he even bothered to help make sandwiches for us.
Anyway, point is, 20% profit is "relatively easy" as he put it. If he worked "harder" (while owning only 1 shop, and full time, that is), he could likely pull 30% profit, no problem. 30% of $400K is $120K. That's considerably more than the $90K that he made from each of the 3 stores, with only 10 hours put into each per week.
That alone already puts him in the top 10% income class in most places in the USA, with just 1 store rather than 3.
I'd rather see him be in the top 30%, so that 3-4 other workers could be in the bottom 40%, rather than him alone be in the top 10% along with his own workers being in the bottom 20%. Such a lazy manager working only 30 hours a week, managing 3 shops (pulling $271,000 profit in a year)... jeez, I think that his job is true to his own description, "easy". If he weren't born with a silver spoon in his mouth, able to afford buying a Subway franchise (how else could minimum wage workers EVER, EVER, EVER afford such an investment in the first place?), he wouldn't be calling his career "easy" while rallying to keep minimum wages down.
Nonetheless, I can't wait for robots to replace at least 80% of all routine "robotic" work that human beings are doing nowadays. It has been happening for several decades in a way, like with machinery and automated things making cars or donuts for us, but the real revolution still has not yet dawned upon us.