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by tw04 3842 days ago
Wait...

33% food cost

33% labor cost

30% overhead

07% profit

_______________

103%

Er... wat?

1 comments

I forgot to math and oopsied a 3. Here is an example breakdown of prime costs for a restaurant. Prime cost doesn't include non variable overhead like rent, insurance, and utilities.[1]I don't think my lack of math skills takes away from my argument that if Apple Pay can reduce payment transaction fees to 1% of the charge, it will have a major increase in net profits for small and medium restaurateurs.

[1] http://www.restaurantowner.com/public/images/212b.png