Economy eating away at historic Chicago sandwich shop
Moon's Sandwich Shop has been open for 90 years, but is struggling to keep its doors open
Rising wages putting an unprecedented strain on 90-year-old sandwich shop
FOX Business’ Kelly Saberi reports from Moon’s Sandwich Shop in Chicago, Illinois to discuss how small businesses are grappling with inflation.
Just a few blocks from the Democratic National Convention sits the 90-year-old Moon's Sandwich Shop, a local business that had made it through the Great Depression and COVID-19 is now struggling to keep its doors open.
FOX Business' Kelly Saberi went to the generational shop and spoke with owner Jim Radek about the recent economic issues the business has faced.
SMALL BUSINESS OWNERS IN THE MIDWEST SEEING STRESS FROM CONSUMERS
Moon's Sandwich Shop owner Jim Radek pictured on the left alongside an image of President Joe Biden and Vice President Kamala Harris. Radek spoke with FOX Business' Kelly Saberi on how rising food costs have continued to plague his business. (Fox News / Fox News)
"The old adage used to be 4 to 1. When it costs you what it costs you, you mark it up four times. So, if it cost me, just for the sake of argument, $10 a pound for corned beef and I sell a half a pound a sandwich – that's $5. The sandwich should actually be $20, but it's not," owner Jim Radek, who has owned the shop for over 40 years, told Saberi on Thursday.
Radek went on to explain that the neighborhood his shop is located in was considered a "food dessert" up until recently, when a grocery store emerged across the street. Moon's Sandwich Shop has been a large supplier of food for residents in the area, but rising costs have placed an unprecedented hardship on his business.
With the well-being of the community in mind, Radek has hesitated to spike his shop's food prices. However, Radek has admitted that it is difficult to keep prices down when the cost of goods continues to fluctuate.
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Rising wages are also putting a strain on Radek's business. Chicago's minimum wage is currently at $16.20 per hour, which is up from $15.80 in 2023.
Radek invited politicians who are at the United Center, just blocks away, to come join him, have some conversation with his customers and enjoy a sandwich.
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