Tokyo Lamington owner Min Chai has increased the price of his signature lamington to $7.50 as the small business owner deals with rising costs.
Tokyo Lamington owner Min Chai has increased the price of his signature lamington to $7.50. The move, a 50¢ price hike, was in response to cost pressures the hospitality business in Sydney’s Newtown is facing on multiple fronts.Tokyo Lamington owner Min Chai just increased the price of his signature lamington to $7.50.Employee expenses are about 40 to 50 per cent of Tokyo Lamington’s costs, and Mr Chai said tight labour market conditions had prompted him to increase his workers’ pay.
Higher wages are just one way Mr Chai is competing for talent. He also pays Tokyo Lamington staff more than the award minimum, which he likened to a poverty wage, and offers incentives like free subscriptions to music streaming services and team dinners.jobs across small businesses “A lot of our peers, small business owners in hospitality, are also facing the same challenges,” he said.
She said it was a “tricky period” for small businesses that had not experienced a high-inflation environment.
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