What is a fair profit for the owner of a small restauraut? Put 500k in to start it. Puts in 70 hours a week. Since you want to say what a fair profit is, what is it? 30k a year? 200k? 500k?
What the minimum wage does is create an unmoveable barrier that can't be negotiated away. Minimum wage lowers the maximum rent the landlord can charge without killings the tenant. The wages come out of the landlord's pocket, not the business's.
I was referring to this claim. If rent is a relatively modest expense, how does a minimum wage come out of a landlord's pocket?