BJ's, the company I work for, already has a contingency plan in place for WHEN the minimum wage goes up. For starters, the lowest paid position, bakery clerks and deli clerks, start out .70 cents above minimum wage. This is to help absorb it when it does happen. There is policy in place to prevent employees from asking for a raise the moment it happens, as well. I mean, they can ask...but it's against company policy to give more than one raise per year. From there, the rest of the costs are going to be passed on to consumers, in the form of slightly increased membership costs, (5 dollars more per year) and an up tick on markup of some groups of items, already selected, by about 6%. In other words, it'll increase certain items by pennies on the dollar, such that out members won't notice. Since we don't pay minimum wage at any of our locations, these measures are predicted to easily absorb any costs associated with an increase to minimum wage.
Honestly, I've seen the minimum wage go up several times in my life. It used to be 5.15, when I first started working. Since I've been in management, across various fields, in several businesses, I have weathered two increases. And saw little to no change...in anything.
The ONLY thing that has had such an affect as you guys are describing in my lifetime was when they passed AHCA.