5 Ways To Reduce Labour Costs For Restaurants | Restaurant Management & Small Business Tips 2022
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- Äas pĆidĂĄn 15. 04. 2020
- Want to increase your profits? Here are 5 ways to reduce labour cost for restaurants and small businesses...
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Labor is one of the big 3 costs for restaurants and small businesses. In the last video I talked about how to calculate your labour cost. Now that you know what it is, you're now ready to put on your detective hat and lower your labour costs.
These 5 ways to cut labour costs are what I do and have done to grow my businesses and increase my profits. Many of them are TIED to how you manage your restaurant staff, retaining good talent, creating a positive culture, and making your business more efficient. All which benefit you, your staff, and customers.
It is important you approach these 5 ways appropriately. You shouldn't do so in a cut throat manner just to make more money. Things like paying your staff more and cross-training may look like you're increasing your labour cost, but long-term you're saving you a lot more money. That's because you're willing to pay your good staff more, you're willing to train your staff to do multiple roles - each helps build staff loyalty, satisfaction, and more accountability. Which all helps in reducing staff turnover and makes your staff more motivated to do a good job. It is with THIS mindset you should be having if you want to truly run a successful restaurant.
So if you're a restaurant owner, food business owner, restaurant manager, small business owner, and are looking to reduce labor costs or increase profits, or how to start a successful restaurant, then keep watching!
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ABOUT WILSON:
Iâm Wilson, your new restaurant business partner. Iâm here to help turn your food and beverage concept into a reality with expert tips & tricks for success.
My videos are based on years spent in the industry building multi-million dollar businesses, including my own international dessert chain (720sweets.com/) with locations spanning the globe. Since my franchise was acquired (2020) itâs been my mission to share this knowledge with people like you who have great ideas, but just canât seem to break through. If I did it all with no experience, so can you. I know firsthand the struggles and mistakes most entrepreneurs make, and want to show you exactly how to avoid them.
Iâve helped hundreds of restaurant owners and entrepreneurs create explosive Food & Beverage businesses. You donât have to take my word for it. Iâve been awarded Top 30 Under 30, Young Entrepreneur of the Year, Top 10 Emerging Entrepreneurs, and recently a Forbes Business Council Member.
Subscribe to see what everyoneâs talking about and learn how you can achieve the same life-changing results.
Find more great resources, check out www.wilsonklee.com/
CONNECT WITH WILSON:
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Collabs/Sponsorship: hello@wilsonklee.com
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#wilsonklee #howtocalculatelaborcost #restaurantmanagement
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Wow this was helpful and amazing I just wanted to ask a question and the question is how do you come up with your content and what should people do if they want to be in the same niche as you one youtube.
Magic! Just kidding. People tell message me with stuff they want to hear.
just signed up for the FB group. love your contents and wana check out your resto on IG too
I dont mean to be offtopic but does any of you know of a method to get back into an instagram account??
I was dumb forgot my password. I would love any tricks you can give me.
@Anders Briar Instablaster =)
Hey Wilson thank you so much, I've been waiter full time for one year in a korean bbq and recently they promoted me as a manager and now im looking more technicals things and i can tell you that those 5 ways to reduce cost its a deep observation of how it actually works a restaurant and you resumed those things in a really good way.
I love you! â€â€â€â€â€đ„đ»đ„đ»đđ keep the amazing progress going big man!!! â€â€â€â€â€
This video is key and easily overlooked. Thank you!!
thanks for tuning in!
Thanks Wilson đ
Thanks Wilson đ Greetings from Colombia.The Venezuelan Immigrant writer, ecologist entrepreneur đ»đȘ
Great Info again, thank you!!
Glad it was helpful!
I love you Wilson
Great way to run your business.
Thank you so much.am going to start my own resturant.so your advices helped me a lot.love you loads from srilanka.đ±đ°
Good luck!!
This is was helpful thanks
Glad to hear!
Thank u as always
:)
thank you, i run a small business and your insight has helped me a lot. definetely will subscribe
Welcome aboard! Glad to hear this helped. Let me know if you have any questions or future topics you'd like me to cover :)
@@WilsonKLee if you have time maybe you can share us more knowledge on marketing on cloud kitchen :)
Hey, following your channel for a while. I was doing a job and was making great money and then thought I should do business. Started a retail store in 2014 from the scratch and it picked up. Did bad and took a partner and then things start changing. It was going great but not going to the next step, which it was suppose to. The fact of partnership is your decision is 50% . In short , I ended up leaving in January of 2020. So I learned one thing! Go solo or wait until you can handle it by yourself.
Great video though.
What's next for you??
You left just before covid, congrats!
Yes yes
ćæŹąäœ çéąé
thanks! :)
Very well done, good explanations. The way you speak is very easy to listen.
Thank you very much!
Hi Wilson I'm about to open a café shop but I'm struggling to make the right choices for my menu, I would love to get in touch with you and tell you more to get some advices from you.
Sign up for my restaurant masterclass and watch it through. Then email me afterwards your question.
Thank for the knowledge
Dose it mean u have a restaurant
he's indeed
Hello sir, can you by Any chance make a video on good investors vs bad ones. Like should you sell 10 % of your business or is that to much. How much money can you expect to ask for. Should you sell 5% of only the first restaurant og the whold business so if you are planning om opening a chain of restaurants, he Will also get profit from future restaurants and so on.
Sorry for My shitty english, Hope you can help, big fan
ummm thats a very precise question. it all comes down to what this investor brings to the table. pure cash investment? or strategic partner that can bring more? % all comes down to what you and him/her is comfortable with. no right number. email me if you need more help on this. hello@wilsonklee.com
Smart and good looking
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:))
Damn zero thumbs down.
:))
Robotics bro...
I don't think they are at the right level yet for mass adoption. I have seen a few use cases though which have been neat
:D
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you spent too much money and time on your hair Wilson.