Will Franchises Suffer from a Proposed Higher Minimum Wage?

During his January 2015 speech, President Obama mentioned wanting to see a small hike in the current federal minimum wage per hour (the wage varies in states).

In Seattle, the mayor announced a plan to incrementally increase the minimum wage in his city over a span of between three years and seven years to up to $15 per hour.

It seems inevitable that minimum wage employees will be able to look forward to higher wages in the near future.