Skip to contents

Calculates the Estimated Cost of Employee Wages for Grocery Stores

Employee_Wages.Rd

This function calculates the estimated cost of employee wages for a hypothetical store in a user-selected location based off of a user-selected percentage parameter. If not specified by the user, this percentage defaults to the industry average taken from Bizminer and Vertical IQ.

Usage

Employee_Wages(Total_Estimated_Revenue, Percentage = 0.0942)

Arguments

Total_Estimated_Revenue

Total estimated revenue based on market size/location.

Percentage

Percentage of total estimated revenue spent on employee wages selected via user input (defaults to the average percentage taken from Bizminer and Vertical IQ).

Value

The output returns the estimated dollar amount spent on employee wages for a hypothetical grocery store in a given location.

Details

This function employs a default average percentage value from the financial analysis and market research firms Bizminer and Vertical IQ and is based upon calculations originally formulated by FFED ISU Extension and Outreach.

Author

Aaron Null