California Restaurant Owner Warns $20 Minimum Wage Will Raise Prices, Halt Expansion

California restaurant owner says new $20 minimum wage for fast food workers will cost him $470K across 10 locations
He warns food prices will go up "immediately" to help offset higher labor costs
He says he's no longer expanding or opening new locations in California due to regulations and costs
He's opening a new franchise location in Nevada which has fewer regulations and costs
He says there's a "finite set of economic conditions" restaurants need to make money and doubts he can continue operating in California long-term