this post was submitted on 16 Jan 2024
113 points (90.1% liked)
Work Reform
10003 readers
42 users here now
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
What a jackass.
20% price increase over two years you say? Certainly that was necessary to keep the company afloat!
McDonald's annual/quarterly gross profit history and growth rate from 2010 to 2023. Gross profit can be defined as the profit a company makes after deducting the variable costs directly associated with making and selling its products or providing its services.
Other than a dip in 2020 that was more than replaced in 2021, McDonald's is right back on track with record profits and the only reason they are losing low income earners is pricing themselves out of that market.
I'm not low income but I do think McDonald's is pretty poor value for the quality. You can usually go someplace with much better food for the same or slightly more now - they're a long way from being 'cheap' food.
You can usually go to a sit down diner for less now. McDonald's prices are ridiculous.
I can't for the life of me figure out how they're still in business. Why would anyone eat there? It used to be an okay option when you were in a hurry and wanted some cheap food. But now it's cheap (quality) food, that is worse than it has ever been, that costs a fucking fortune, and it isn't even a fun place anymore. Their food barely qualifies as food. Their buns, burgers, and fries taste like compressed napkins. The book Fast Food Nation and the documentary Supersize Me exposed how atrocious McDonald's food really is, and people just kept on going. What the fuck is wrong with people?!? Why are you spending $20 for a tasteless trash lunch that masquerades as food, that is terrible for your body, and the environment? WHY!
One thing that I learned recently from the Modern MBA YouTube channel, is that these fast food brands don’t run stores – they primarily charge franchise/royalty fees, and the store operators/franchisees see a significantly different and lower-profit-margin situation.
“McDonalds Corporation” is not where these expenses accrue.
It's true that the McDonald's corporation is in the real estate business, not the burger business. But the franchisees are certainly in business selling hamburger analogues. They wouldn't be on every corner if they weren't profitable. I read once that if you want to open a McDonald's, they won't even talk to you unless you have a million dollars cash. It takes a fuck ton of money to open a McDonald's franchise and people still do it, because it's a license to print money.
Those franchise fees are still tied to sales enough to have a dip during covid and continuous increases after which aligns with menu price increases.
Really powerful reply here. Thanks for sharing the financial details as it makes it easier to evaluate.