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Unfortunately, basic economics is not taught in our schools so we get idiots like these trying to run a business with other people's money. But as Margaret Thatcher said, "sooner or later you run out of other people's money". These are probably the same people who support government mandated wages.
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Dudley Dough, a “fair-wage” pizza parlor dedicated to “economic justice” in Boston, has been forced to close its doors because it is unable to make enough profits, according to The Boston Globe.
“The challenge for Dudley Dough was to support itself,” said Bing Broderick, executive director for the nonprofit Haley House, which oversees the shop. After just two years of operation, the “fair-wage pizza shop” will close in the next few months. “While popular, the shop is not breaking even financially,” the report said.
Dudley Dough, in offering its employees above-market wages, was sold as “pizza with a purpose.”
How was their pizza, how much did it cost for a pie, what were the wages. We have had many pizza stores open and close in my area, competition, price, product.
How was their pizza, how much did it cost for a pie, what were the wages. We have had many pizza stores open and close in my area, competition, price, product.
A few details missing from the article.
It failed because of bad business plans... expenses more than revenue... and if you don't know what the biggest expenses are in business, then your head can remain in the sand...
Because no other pizza shop which paid standard market wages before ever closed down, right?
It's only the "fair wage" business that was forced to shut their doors, while every other pizza shop in the country (those that don't pay "fair wages") has been successful, right?
It failed because of bad business plans... expenses more than revenue... and if you don't know what the biggest expenses are in business, then your head can remain in the sand...
You got more than I did out of a one page article that lacks any facts other than he paid a living wage.
The liberals don't want to give you a choice in a business model...
Oh I know it.
At least this guy got to run his business his way...well in regards to his wages.
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