Mounting costs in Seattle weigh on grocers, restaurants

[TexasTowelie]

Like many other Seattle businesses, Taco Time has seen a marked increase in costs that cut into profits at its restaurants in the city over the last three years.

Thanks to an accumulation of new and increased taxes, a rising minimum wage and the tightest job market in 40 years, the company says its costs for food, labor and taxes are 11 percent higher at its six Seattle restaurants than at most of its other locations around the state.

The Seattle sweetened-beverage tax alone, part of its food expenses, averages nearly $1,500 a month at each of the fourth-generation, family-owned chain’s locations in the city.

“It has been a shock to the system,” said Chris Tonkin, who leads the business with his cousin, Robby.

Read more: https://www.seattletimes.com/business/mounting-costs-in-seattle-weigh-on-grocers-restaurants/

[Xipe Totec]

1. Gladly paid by me when I visit the Emerald City

Being in Seattle is an exquisite pleasure.

[WhiteTara]

2. Your occasional taco isn't going to save them

It sounds as though they'll need to move out of Seattle, or raise the price of their food by about 15%

[Xipe Totec]

3. I don't eat tacos in Seattle. Trust me, that's not the place for tacos

I get your point, one tourist; whatever...

But I'm not the only tourist in Seattle. It is a cultural magnet world-wide.

All the money to support that cultural attraction has to come from somewhere.

[WhiteTara]

4. Well, then I don't know why they don't

just raise their prices. That's inflation, true; but, the basis is sound and they call always call it a trump tax or whatever. But if the locals don't find it as enticing as the tourists, they'll have fewer local customers.

[Xipe Totec]

5. I'm all for price changes. I thought that was clear

I have to live somewhere, and I don't mind paying higher prices where I live.

So long as the money goes to making this a better place to live.

minimum wages are a minuscule amount of the cost of business.

Want to cut prices? Drop executive salaries.

[exboyfil]

7. Darden revenue is $8B

Annual salary of CEO is $16M. Your $100 meal has $0.20 of CEO salary in it.

[Xipe Totec]

9. Really? You're defending executive salaries?

$16M = $7,692.30 per hour.

You're defending that?

And complaining about minimum wage?

Seriously?

[Xipe Totec]

10. And, is the CEO the only executive in the company? Did you add up all the executive salaries?

Seriously,

[wasupaloopa]

6. Wife and I visited Seattle a few years back. We wanted to ride Amtrak from

the Central Coast of CA where we live.

We had a nice time but I would not trade our location for Seattle. Too much rain and gray days depress me.

I am a sunshine and beach person.

[montanacowboy]

8. Yep

We are having an especially gloomy winter this year.

[dpibel]

11. Key quote

"Taco Time has not contemplated closing any Seattle locations, but the rising costs have the Tonkins looking beyond the city for expansion opportunities."

If the conditions in Seattle are so crippling, why aren't they contemplating closing these loser locations?

When you read business coverage from The Seattle Times, you should keep in mind that its current publisher is a near-Koch-level libertarian. All taxes are bad! All regulations on business are disastrous!