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NYC Fast Food Joints Would Probably Charge More If Minimum Wage Rises to $15 an Hour

A high percentage of franchise owners say they'd raise prices and cut staff.

Scott Olson/Getty Images

As the advocacy groups and fast food workers tied to the Fight for 15 movement continue to fight for a minimum wage of $15, fast food restaurant owners are worried about staying open. In a survey of 500 fast food restaurant owners in the NYC area, 72 percent said they were "very likely" to raise their prices and another 18 percent said they were "somewhat likely" to increase prices. Raising prices would likely only be part of the equation: 78 percent of those polled said they would cut staff hours or staffing levels to make things work. About half said they might have to close, according to the Post.

The state minimum wage is set to go up to $9 (it's currently $8.75) at the end of this year, but governor Cuomo's tasked the Wage Board this summer with providing recommendations for raising that number. Once the Wage Board speaks, Cuomo won't need legislative approval to raise the minimum wage, meaning fast food workers will likely be getting more than just a 25 cent raise sometime soon, and restaurant owners will have to figure out how to pay for it.

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