How To Calculate And Lower Labor Costs
Sling
SEPTEMBER 19, 2019
Labor costs are one of the highest expenses that most businesses contend with. Only rent and mortgage payments rank higher. In fact, in the restaurant business, labor costs can average 30-35 percent of total revenue. That’s a large sum of money leaving your business each year. In addition, labor costs count heavily when determining your prime cost (cost of goods sold plus labor costs), which is a key metric for efficiency.
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