Minimum wage increases are bad business for franchises
Former CKE Restaurants CEO Andy Puzder argues it ‘makes absolutely no sense’ for the Biden administration to raise the federal minimum wage as businesses are suffering amid the coronavirus pandemic. Democrats reintroduced the Raise the Wage Act Tuesday, which would increase the U.S. minimum wage from $7.29 to $15. For franchise owners, this increase could be catastrophic. Michael Wagner, President of Pool Scouts, a swimming pool maintenance company, tells FOX Business, costs for their franchises will skyrocket. “Pool Scouts is the premium brand in the swimming pool cleaning and mainten...