In the old days, people used to pay cash without paying the HST. Right now, no way...
The Chinese restaurants are a bit better because they are cheap (comparatively) anyway, for those Cactus/KEG/Boathouse, it's a big hit... The long lineup is gone for regular weekend....
Net income is getting less and less..... property tax will goes up, hydro had already applied for increase rate, misc. all applied more tax on top! More restaurant will be closed down really soon or change owner after the New Year!!
Hst is 6% increase, but it decrease customers more than 6%, that's the problem
On top of that, food cost has been increased like crazy for the last 2 years, many items are more than double from 2 years ago. Property tax keeps on increasing as well.
So, summary: Less customers + insanely increased food cost + never stop increasing property tax = leave the industry.
Um .. but H S T .. is just 6 or 7% different ja wor ..
Most rest .. with price increase more the ...
Catpiano 發表於 2010-12-23 12:43
The problem is the food cost increased more than 20% per year now, and you suggest restaurants not to change price? In fact, many restaurants haven't increased the price for the last 5 years already.