I don't know what the minimum wage should be but I feel like if your business model doesn't allow you to pay a decent wage maybe you need a new business model.
Also the minimum wage discussion needs to include a discussion about affordable healthcare. A couple years ago I had surgery. The surgeon's bill for 3-4 hour of surgery was over $20,000, insurance knocked down to $4000. Keep in mind this was just the surgeon. The hospital got their cut as well as the anesthesiologist physical therapy, follow up visits etc.... If I didn't have insurance I would have been toast no matter what kind of job I was working.