The talks of increasing the minimum wage has been floating around the country for a few years now. Those workers making minimum wage and their supporters would like to see it increase to $15 an hour, and this has many small business owners feeling frustrated. How, as an entrepreneur, can you afford to pay such wages?
The truth of the matter is that if the minimum wage increase ever passes, small business owners will be left with two choices: cut the numbers or adapt. While many will be reactionary and cut the size of their work force, others will look to tweak the numbers and pay their employees the new wage. What you do is up to you.
Many experts suggest taking a look at the bottom line and realize that you can afford a higher minimum wage by doing one thing: improving customer service. When you give your customers an outstanding experience, you will draw more business. When you draw more business, you will have the capital necessary to pay your current employees without having to let anyone go.
How you do this, again, is up to you. Look to larger franchises. They have streamlined the way they do business, welcoming technology into the fold. Go to McDonald’s and place your order using an app or a kiosk. Workers then have the time necessary to circulate among customers and make the experience of visiting the eatery a pleasant one. The result is that some franchises have even more employees than they did before minimum wage went up. You can do the same.
If you are interested in learning how you can make your small business operate more efficiently and provide the best possible customer experience, reach out to our team. We offer a variety of services that you will find valuable.