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Good job is one of those issues we talk about often here on money it is the lifeblood of our economy and we all know it has been getting sucked drive for the last few years so what company.
Is putting its money where your about the is in the form of 800 new jobs just this summer.
Not to mention close to 2000 more in the next six months all I'm wondering the same thing.
CEO firehouse subs Don box.
You have locations in 35 states.
But still 800.
Just this summer is a lot in 2400 workers and 2013 all told how you doing -- much expanding -- You know the economy -- -- grow that fast.
Well sure I I think Americans have a insatiable appetite for great food.
And while the restaurant business is very competitive.
The chains the brands.
They're continuing to grow in this environment and certainly firehouse subs as it is right in that category we were the the second time we had the second highest growth rate in the restaurant industry last year and we always hope to do one better than that searching for number one next year.
Eat these I I am sure that's right it is still brave of you given the climate given everything that employers are facing in fact.
You know Wal-Mart recently sad.
That they are only hiring temporary workers at many of their US stores because for a number reasons I mean obviously.
You know they want to be more flexible they have to deal -- benefits and the like.
When you think of their decision and how to second pair of what you're doing.
Well sure I mean I really can't speak for them -- it's it's a different -- the business model and a number of respects some within the restaurant industry.
We will continue to rely on part of our workforce being full time employees whether that's our management staff for key.
Hourly employees and -- crew member positions.
Admitted the nature of the restaurant business historically is that it it is that bland the full and and part time employees I don't think that's gonna change for for most -- -- -- for firehouse.
Yeah I -- have those 2400 what what percentage of them would you -- are part time.
It we've got.
The typical restaurant in our system -- have about 6570%.
Of the employees.
In in a part time role that's not much different than the the industry overall.
A typical firehouse subs restaurant.
Has seventeen employees and annual sales volume of about 830000 a year and -- and of those four.
Will will typically be full time and the balance.
Let's -- this the economic argument that has been made over and over again in this recovery is that give in.
The -- that that the laws are structured now in the way that our economy has changed and the burden that has been placed on employers by obamacare and everything else.
That the new jobs that are going to replace the jobs that went away in the downturn.
Are more jobs like the ones that you're talking about where they are part time and -- perhaps don't have.
This same benefits as seeing manufacturing job would have had several decades ago is that a fair characterization and and you know when you think that means for our economy.
-- well I think I think that's.
You've got to you've got to remember that is the restaurant segment grows this -- -- growth or other restaurant chains grow -- and just not a matter of those positions remember -- for every restaurant opened that opens there's.
And operating partner franchisee whose drawing looking to draw -- come from from that restaurant -- management team are all above.
Median income wages.
The restaurant industry itself has a lot of unheralded opportunity and for every person that comes in and and may begin as a part time employee.
There is the opportunity for growth.
And it's all about change that you're seeing it's it's always the permanent jobs don't discount that I hear you -- has the heavier than health care a lot.
Had any impact on -- expansion plans at all.
No no it hasn't.
-- we've developed a very sound.
Plan on how we're going to implement.
Health care in our restaurants I have thirty restaurants that we own and operate.
The balance of our system the other 600 restaurants are franchise operations some of those franchisees -- in the large employer category they will have more than fifty full time equivalents.
Certainly our company restaurants are or organization isn't as they.
Is a large employer under the the -- so yeah the law.
So we're so we're not changing any of our scheduling practices I had art.
Going to -- move -- with the same number of full time employees that we had before we do have to change some things about the way we manage our business yeah -- -- schedule employees and I think we give you some very positive things for employees when we do that make ours more predictable and and in the end they -- win win.
A vote for us.
I read somewhere that you -- that every dollar that is diverted to Washington through tax policy I would assume is the dollar that you don't use to expands.
Or that -- so it is very Myers is that is that -- the argument against that as people say.
No it's a dollar that you're not putting in your pocket to either save that -- productive in the economy or -- for yourself.
Why is it a million dollars.
That it NN I'd I'd argue -- all by it it's.
I think everybody agrees that air for this country to get out of its current fiscal situation you have to have fundamental growth in the economy.
Either there's no way to the -- future budgets.
That reduce deficits.
If you don't include growth.
And the retail sector the restaurant sector that's a fundamental part of that growth equation I have 400 franchise he's in my system virtually every one of them.
Wants to grow attitude to grow they need capital.
And it takes about an average of 280000.
Dollars four franchisees opened the next restaurant -- -- 400 people out there looking to open.
Now what I formula if they had if they had the 280000.
Dollars in the pocket right now -- -- -- building the next restaurant.
But -- -- this is so true of most of the franchising world.
That franchisees ability to grow is dependent upon their success in their current business retaining their earnings not sticking it in their pocket they're taking those earnings are paying down existing debt and they're saving up in the case so far health savings the next 80000 dollars after taxes -- -- -- that they need to be able to go to the bank can borrow the other 200.
So they're not look real lining their pockets are trying to build a really healthy business creating jobs not just for their employees -- property for the manufacturers to fill the the rest for -- -- the general contractors who.
Who have to build it out so.
When the government goes in for whatever the purpose.
Any dollar that's taken away or -- Did you -- of investment and jobs I -- -- -- come back for next tax discussion.
Because you are terrific on this point and it it is not always supported me that's well defended so I promise you had to come back on the showdown.
Well great I'd I'd -- through -- -- they he's so much coming up next on.
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