Continuing calls for raising the “Minimum Wage” is always done by those who have absolutely no concept of how the world works.
I just have to tell this story,
Long after my entrepreneurial and corporate careers, I taught computers and business at a local university. One subject I taught was a course in Business Plans — it incorporated both my computer and business backgrounds.
I had a Marine in class who said he was going to write a plan to start a limo company because he moonlighted on weekends as a driver, he complained he only made minimum wage and he would employ Marines and pay much better — I said, “Go for it.”
Each week he reported his research: ” did you know that I have to sign a five-year lease on office space,at $4,000 a month? That’s about a $250,000 obligation whether I make it or not!”
Ahhh….”yes, I know that.”
Next week it was, “Those limos cost $60,000 each, and I was going to get three new ones but I’ll have to settle for one, used, and do you have ANY idea what insurance is for a Limo service…”
“Yes, I know that also.”
The bottom line was that at the end of the course he would have to have a single, used limo, run it from his home and, yes, pay the drivers MINIMUM WAGE,
Writing a business plan for ANYTHING is the best dose of reality in the world. I strongly recommend it.
Filed under: Culture, Economics, Education, Justice, Politics, Taxes | Tagged: minimum wage |
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