77% of the population of San Francisco, CA voted to raise the minimum wage to $15/hr November of last year, including Brian Hibbs, owner of Comix Experience. A self-proclaimed progressive, Hibbs claimed that he didn’t fully realize the impact that it would have on him, his employees and ultimately his customers, until it was too late.
Brian posted this on his website’s home page:
San Francisco is about to raise minimum wage to the nation’s highest at $15/hour over the next three years – a 43% hike. While we at Comix Experience absolutely support a living wage, this unprecedented increase will put a huge pressure on small businesses like ours. To put it into raw numbers, given our current staffing (and we run very tight), we will soon have to generate an additional $80,000 a year in sales just to meet the rise. Click here to learn more about how the minimum wage impacts small businesses.
And he gave this statement:
“I was appalled!” he says. “My jaw dropped. Eighty-thousand a year! I didn’t know that. I thought we were talking a small amount of money, something I could absorb.”
Although all of us at Borderlands support the concept of a living wage in princip[le] and we believe that it’s possible that the new law will be good for San Francisco — Borderlands Books as it exists is not a financially viable business if subject to that minimum wage. Consequently we will be closing our doors no later than March 31st.