WEBVTT
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We are just a few weeks away from the third largest award rate increase since the global financial crisis.
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Don't be like, oh, I can't pass all my community because you're gonna be the broadcast on the street.
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50 years ago, a cup of coffee was 50 cents.
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If I'd have told you then that it would be 550, now 10 times more expensive, you would have told me I was an idiot.
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Historically, they've always paid.
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If you're on the front foot and you're out there in your community, you got a solid product and your pricing's right.
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I promise you, you're still gonna fucking make money in this period.
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Welcome back to our monthly industry updates.
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Uh with the man, the myth, the legend.
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Where's Lambert?
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We know there's been we know what's what we're gonna say.
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The wage increase is coming out.
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Um talk to me.
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Talk to me.
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What's happened?
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Well well, look, uh, I hate to say I told you so.
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Um, that's one of the worst things that we can possibly say, but we've been shouting from the rooftops that businesses should expect four and a half to six, and then we narrowed that down to four and a half to five.
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Oh, magic, four point seven.
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Um, so you know, we we certainly know what's going on when it comes to government and uh the Fair Work Commission.
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And for everyone out there now who's like, oh, I can't believe this has happened.
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We have been saying it uh for three, well, what three months, four months.
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Three months, four months.
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So you should absolutely be tuning in to these monthly updates because we can tell you months in advance what's going to happen based upon our conversations in Canberra and in state houses uh and with the bureaucrats.
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We know we predicted this.
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Now here we are, and just a few weeks away from the third largest award rate increase since the global financial crisis.
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Crazy.
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It's crazy.
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And so if you're if you're on a million bucks payroll right now, um, you spend a million dollars a year, payroll's just gone up by a thousand bucks a week.
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Uh that means all your promises just need to go up to match that.
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Now don't don't be like, oh, I can't pass it on the community, because you're gonna be the brocast on the street.
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You need to, we you need to you need to price this.
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What what can I cut?
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What can I do?
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What can I get more efficient in?
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And then you just gotta pass it on.
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You just pass it on.
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Everyone else is passing on, you've got to pass it on too.
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That's my one thing.
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Pass it on.
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You don't pass it on, uh you probably just you've got to pass it on.
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End of story.
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End of story.
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Uh in fact, I saw a report this morning from Ibis World for the fast food industry that had been booming in 2025.
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Even the fast food segment of accommodation food service, their profitability dropped from in the eights to in the sixes into 2026.
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So this is no joke, right?
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You cannot not put your prices up.
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This is not a one-time thing, right?
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We're in a high inflationary period.
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And the RBA and economists don't think that inflation is going to slow down until the middle or end of 2027.
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That is a year to 18 months from now.
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So you cannot hold on hoping that things will get better.
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You need to re-engineer your menu.
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You need to make sure that you have uh items with high contribution margin, and you need to put your prices up in a way that will cover not only the minimum wage increase, but will allow you the cash flow once payday super comes into effect on the same day, and to absorb the surcharge ban on debit and credit cards on the MasterCard and Visa Rails and FPOS.
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And at the end of the year, depending upon what type of hospitality businesses you own, the end of junior rates.
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Yeah.
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Yep.
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Uh 100%.
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100%.
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It's well, I'm actually quite excited to be honest.
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I'm gonna be honest with you.
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If you're out there hurting right now, this is your opportunity to to grow and change.
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I'm gonna put a link down below uh to some of our free content out there, which is gonna help you with your menu.
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I'm also gonna put a link to um a couple of our really kind of lower level programs, which will help you figure out your cogs and your margins a lot better for that thing because uh this is the time where we're gonna have haves or have nots.
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You're either gonna crush it, you're gonna do okay.
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Um, if you're already struggling and you don't make these changes, you're not on the front foot.
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Uh you you got a really fucking hurt coming up.
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All right, Wes, um mate, do you have any good news?
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Or are you just gonna keep coming on every month and giving us this bad new bullshit?
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What's going on?
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So, look, we we have these conversations in order to make sure that the industry is prepared for what's coming.
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And unfortunately, 2026, and we said this in January, 2026 is gonna be a tough year for hospitality.
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And so you need to hunker down, you need to make changes, make plans, and believe us, because we know what we're talking about and we know it's coming.
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So here we are in June, and we've all got to get to 31 December.
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So, what I would say is the good news is you have the information in order to make sure that your business not only survives, but actually thrives into this, right?
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So it doesn't mean that people aren't spending.
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So spending is relatively flat, meaning consumers, while they're not buying the more premium items, they're not necessarily ordering as many things as they did um right after COVID when they felt more rich, but they're still going out.
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And as long as you're providing that value, as long as you're providing a great experience, your business doesn't necessarily have to suffer.
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You need to engineer, re-engineer, you need to make sure that on your fiscal 27 prices, that you have enough margin in all the items to cover everything you need to cover, and you need to go talk to your landlords.
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You you can negotiate your rent down.
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It happens all the time in every capital city in every corner of Australia.
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Uh, you can get your rent adjusted to the right size to your business, because no landlord wants an empty shopfront.
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That's no good for anyone.
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So you this is the time now to work to make sure that your business survives because when 2027 rolls around and tourism begins to pick up again, and Michelin launches in South Australia in October, and hopefully in the other states uh in 2027, we will see some green shoots and we will see greener pastures.
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But it's this period of the next 12 to 18 months where you need to listen to advisors.
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Don't say my customers won't pay.
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Fifty years ago, a cup of coffee was 50 cents.
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If I'd have told you then that it would be 550 now, 10 times more expensive, you would have told me I was an idiot.
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Okay.
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Well, that permeates you telling us we're idiots now that you can't put your prices up, your consumers won't pay.
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Well, historically, they've always paid.
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We're consuming more coffee today than we ever did 50 years ago.
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So consumers will pay.
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It's about how you engineer your menu, the kind of value and the kind of experiences you give, and stop making excuses.
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So the good news is you still have time.
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The good news is you have the information.
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And the good news is Foodie Coaches and the Australian Restaurant and Cafe Association are here to help you, and we can help you get through this.
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Yeah.
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And I'll put some links down below on this this I'm gonna put down some free stuff and some paid stuff so you can get what you need.
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Um, I just want to frame up a couple of things here.
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Uh, because obviously, you know, we've got a bunch of members all around Australia.
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We get to we're in a really unique position that we get to talk to so many different types of businesses.
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There's a couple of key things that I just want to note.
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So if you're watching this, uh you can be like, cool, I'm not alone.
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Um, customer numbers are remaining fairly constant at the moment.
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We're seeing spends uh spends during the week or during the week, especially down, just dropping.
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We've still got members doing record weeks.
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We've got we've got members.
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I spoke to um one of my private guys, he's 40% up on last year, week on week on week.
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Uh his spends are up.
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Um, and it's just it's just depending where people are.
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And then what the other thing we're finding is people still spending money on their special occasions, they're still spending money on their weekend breakfasts, they're still spend people are still spending money.
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The other thing that we're noticing the difference in is the between the haves and the haves nots.
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The people who are crushing their social media and engaging with their community are keeping their numbers up.
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The guys who aren't who the number the custom numbers are dropping, it's because their social media is dropping.
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Like people are really moving to that, they're going to what's in front of them all the time.
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And if you're not out there on your social media um and you're struggling, you don't know what to do, I'll put a link to that program down below as well.
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This isn't a pitch session.
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This is about if you're on the front foot and you're out there in your community, you got a solid product and your pricing's right, I promise you, you're still gonna fucking make money in this period and potentially make more money.
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Absolutely.
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Um, you're you're right.
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There is a there is a portion of the population, especially those um, you know, um older Xers and boomers uh who still feel wealthy in terms of their property and you know the their superannuation and their lifetime investments.
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And so that portion of the population, they're spending.
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And the tourists that are coming to Australia, they're spending.
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It's just what we call that mushy middle, that family dining, that mid-market, you know, it's really having a tough time.
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Plus, I can tell you that many people I know they're cutting down on the number of coffees that they're having.
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Uh, you know, they're they're or maybe they're, you know, taking one from home a couple of days a week just to be able to pay the increase in their mortgage.
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And so, you know, certainly there are some constraints to spending, and that's going to continue until we start seeing interest rates going down.
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But but look, ultimately, we're entering the winter and um you know, winter will go by very quickly.
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You know, we've only got you know two months and three weeks of winter left, and then we'll get into that springtime and into you know the spring racing carnivals around the country and you know, and new beginnings, and then the summer busy season.
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That's really what you want to prepare for and survive to, because ultimately as things begin to slow down, right, as inflation begins to back off, you know, it won't be all of a sudden at one time.
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Hopefully, we'll start seeing inflation tick down after it peaks in June, July.
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And then we'll be able to notice that.
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And people will begin to feel a bit more wealthy and they'll begin to feel like, okay, maybe I can go out and have that one extra meal a week.
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It'll make a huge difference.
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Yep.
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Switching gears a little bit, we're headed to Canberra um in two weeks.
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Yeah, so we're heading to Canberra.
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All bad news.
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What's the next fucking blow you're gonna deliver this into?
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No, no, not a blow, not a blow.
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So I have it on good authority that um we are this close to making some changes to the capital gains taxation.
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Um, and I don't want to announce uh that it's done.
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However, uh, we're pretty sure that small businesses are going to be protected, um, that we're gonna get those um thresholds lifted uh to match the federal definition of a small business.
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Uh, and that's gonna mean a huge difference to all the restaurants and cafes around the country that we know fall below the cap.
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Uh many uh operators were worried that they might not be able to sell their business or they might um you know have to pay a huge tax bill uh to sell it for what they want, or you know, may not be able to grow.
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And so we're working with uh Cosboa, the Council of Small Business uh organizations, um, to get the changes made to the CGT legislation in uh Senate committee.
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And so that will be huge and good news.
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So look, it's it's not all bad news.
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Um bringing some good news.
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It is when we get back from Canberra, um, the first week of July, everything crossed.
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Um, we we will know uh if the government is listening to small business.
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I don't even know who this guy is bringing good news.
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Um, so what you're trying to say is is everyone that's gone and posted photos with like Elvo as their new business partner in their business might have to redact those statements because potentially they're not.
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Is that right?
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If they're a small if they're a small business, if they fall under the the federal definition, you know, there's dozens and dozens of definitions of small business to suit you know the states and and local and federal governments for whatever it is they defined it in that particular bureaucracy.
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But ultimately, we're trying to get it aligned to the federal definition of small business, uh, which means it would pick up um about 90% of restaurants and cafes around the country would then not have to worry about the changes to CGT.
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Um, and let me tell you, the trust tax changes, we are going to come at that like a tsunami.
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Um, that isn't going to be debated until um fiscal 27, so August, September, they say.
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And we are going to fight tooth and nail to ensure that uh the unintended consequences of small businesses, small family businesses being swept up in that double taxation, uh, we're going to do everything we can to ensure that um that small businesses are carved out.
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Yeah, if you're not across, if you're not across these changes and what they mean, I sat um as in like you're watching this right now and you're not across it, and you're kind of like, oh, I don't really understand it.
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Pretty much, um, if you've got a trading company and you've got a trust as a shareholder, which most of us do, um, I sat in a half day meeting with with our, you know, our finance and accounting team, and they explained it all to me.
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And I was like, This is a fucking abomination.
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Pretty much what happens is you get your shares, um, your shares come out, now you're attached with the franking credit.
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So the tax that the company pays comes out with it, and then usually it goes to your trust, and you can distribute that to yourself or your kids or your mom or whatever, or to another company, and the tax stays with them.
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What they're saying with the changes of the trust is they're like, nah, you got you don't keep the tax anymore, you got to double pay tax on it.
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So effectively, if you pay out a hundred thousand dollar dividend, usually that means you get$70,000 in cash, a$30,000 franking credit, or and accountants, you can fucking pick me up on the 2% or whatever.
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And then it gets to your trust and goes with it.
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What they're saying is it gets to your trust, that$30k stays in your trust, and then the 70k comes out, and then you've got to pay another 30 cent tax on it again.
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And everyone's like, we're gonna change structures.
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So um, I appreciate the fact that you're in there.
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And guys, this is why um, you know, when you're like, oh, why join an industry association?
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This is why, because this is what Wes does.
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And like, uh, we're gonna put up a photo here.
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Wes has got an actual photo with the Prime Minister.
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This isn't, listen, from the other night, budget night.
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Um, you know, he's got an actual photo, it's a real one, and we're gonna put it up here.
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So this is this is what Wes goes and does, and he brings going, hey guys, this is a bad idea.
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You're gonna change this shit.
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So I appreciate that, Wes.
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What other things do we need to update the industry on before we get out of here?
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Oh, look, end of financial year.
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Um, there are always a lot of changes that happen on the first uh of July every year.
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Um, there's gonna be changes um around uh depending upon what state you're in, uh, you need to check and make sure that uh no single-use plastics uh updates are coming in in your state.
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Um there's some uh waste uh changes coming into multiple states, especially on the East Coast.
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Um the seafood labeling is coming into effect, um, and you'll need to make sure that your menus are updated with um according to the seafood labeling.
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As I said before, payday super, um, that happens on the first of July, which happens to be uh not on the end of the week, it's in the middle of the week.
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Um, so make sure that you're ready for that if you're not already paying super with every pay period.
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Um, and you know, depending upon where you are around the country, there may be local changes, uh, especially to things like liquor licenses and uh other compliance issues.
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Just make sure that you are up to date.
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Um, there are multiple websites that you can go to, um, your city council websites, um, your liquor licensing websites in your state, um, as well as the ATO and ARCAS website, you can come to www.arca.org.au.
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And as long as you're a member uh in your portal, we always put the uh updates that uh come to us from the government bodies.
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Okay, this is what we're gonna do, my team gonna hate me for this.
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Uh team, can you put a link through to our foundation programs that if people need to focus on their costs or they're bringing more people through their door and their marketing, they've got access to that.
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Can we also put a link through to the replay of the payday super webinar that we did to help people step that through?
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And can we also put a link down to Arca's website?
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So uh if you're not a member, go and be a member.
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It's like it's fucking cheap, man.
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Go and do it and support the people that are supporting us.
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And then once you're a member, you get access to a fair bit of all those things that you just told us about.
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So you don't even need to go search.
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Also, um uh to uh someone who made a comment on one of your posts recently.
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Uh, for those of you who don't know, my entire life has been in hospitality.
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I faked an ID when I was 14 to work in a Wendy's fast food restaurant.
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I waited tables all through high school in the uni.
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I was an investment banker in restaurant capital, and then I managed a medium-sized nightclub, and then I owned the largest nightclub in North America, up 10,000 square meters and three buildings on 1.4 acres of land.
00:18:02.880 --> 00:18:14.799
Sold that, moved to Thailand, and bought a pub, and sold that and moved to Australia and restructured the first full-service restaurant group in Australia called Pacific Restaurant Group.
00:18:14.880 --> 00:18:24.960
We owned Kingsley's, uh, built Chop House, and I partnered with Jamie Oliver and was the master franchisee for Jamie's Italian Australia and the licensee above the door.
00:18:25.359 --> 00:18:36.400
So if anybody wonders if this guy who's advocating now has any experience in hospitality, I think I have a a little bit.
00:18:36.559 --> 00:18:37.440
Just a little bit.
00:18:37.759 --> 00:18:38.880
You know what, man.
00:18:39.599 --> 00:18:43.839
The thing is, it's like you don't need to explain yourself to people in the comments, man.
00:18:44.160 --> 00:18:48.000
There's you're out there commenting, usually it don't do it.
00:18:48.079 --> 00:18:50.960
I thought you spend all your life explaining yourself to people in the comments.
00:18:52.000 --> 00:18:54.799
Well, yeah, I'm sure that it was a question out there, right?
00:18:54.880 --> 00:18:56.960
Who is this guy who's advocating our behalf?
00:18:57.119 --> 00:18:58.799
Has he ever worked in the industry?
00:18:58.960 --> 00:19:07.440
Man, I have worked the hours of every hospitality professional in the country and around the world, and I know exactly what you're going through.
00:19:07.599 --> 00:19:10.960
And so it helps us to be able to advocate on your behalf.
00:19:11.119 --> 00:19:15.599
It's really important that those people advocating on your behalf have worked in the industry.
00:19:15.839 --> 00:19:22.880
All the people in Canberra who probably haven't worked a day in hospitality in their entire fucking life have haven't worked in any business at all.
00:19:23.200 --> 00:19:23.599
Yeah.
00:19:23.759 --> 00:19:24.240
Yeah.
00:19:24.559 --> 00:19:27.680
So that this is the reason why people like Wes are important.
00:19:27.839 --> 00:19:31.039
Um, and so Wes, thanks for letting us know about your qualifications.
00:19:31.200 --> 00:19:41.680
If anyone wants to know all of the pizzas, that's all I've done, other than running the largest hospitality coaching business, probably in Australia, at least in the southern hemisphere.
00:19:41.839 --> 00:19:45.759
It's you know, we work with other two and a half thousand owners worldwide.
00:19:45.920 --> 00:19:51.279
So, guys, this isn't about like he says, she says, this is about what can we do to make this industry better?
00:19:51.440 --> 00:19:53.759
What can we do to make this industry more profitable?
00:19:54.000 --> 00:20:10.400
And what can we do as an industry to stand together to get the best possible results, not only for us as owners, but also for our teams and inspiring young people to come back into this industry and making sure that we're here to serve the communities in the most positive way that we can.
00:20:10.559 --> 00:20:13.039
So that's why we're here, that's why we do what we do.
00:20:13.200 --> 00:20:15.680
Um, please, links below if you need anything.
00:20:15.839 --> 00:20:22.559
So I've got my team here who's saying, Well, thanks for the photo of you and Elbow, and they want to see another one next time you're in Canberra.
00:20:22.799 --> 00:20:26.160
Every time you're in Canberra, we want to see another one that we can post.
00:20:26.240 --> 00:20:27.759
That's been the request.
00:20:28.000 --> 00:20:36.640
Um, so at least that we know you're going to Canberra and that you're just not, you know, doing nothing as a hospitality non-expert that you are.
00:20:37.599 --> 00:20:38.640
You know what, Tim?
00:20:38.799 --> 00:20:43.599
I have not been able to find anyone around this country that doesn't know who you are.
00:20:43.839 --> 00:20:50.799
So I would say that you are the preeminent uh hospitality coach in the country.
00:20:50.960 --> 00:20:52.240
Um, everybody knows you.
00:20:52.319 --> 00:20:54.400
You're everywhere all at once, all the time.
00:20:54.559 --> 00:20:56.319
And we really appreciate you.
00:20:56.640 --> 00:20:57.440
All right, team.
00:20:57.519 --> 00:20:59.119
So um links below.
00:20:59.279 --> 00:21:08.000
Uh we've got some really foundational programs that uh are very, very cost effective for ROI that can get more people through the door and help you with your costs.
00:21:08.160 --> 00:21:12.079
We'll put a link to the payday super webinar that we ran, which is like an information thing.
00:21:12.160 --> 00:21:14.480
So you can, if you haven't seen it, you've got an opportunity there.
00:21:14.640 --> 00:21:16.000
I'm gonna put a link to ARCA.
00:21:16.079 --> 00:21:18.000
If you're not a member yet, just go and join.
00:21:18.160 --> 00:21:20.799
Um, this is why Wes is is advocating.
00:21:20.880 --> 00:21:25.680
And then once you join the you and you want to chat to Wes, Wes loves talking to people.
00:21:25.759 --> 00:21:28.720
He will bring you to Canberra and sit you in front of these guys.
00:21:28.799 --> 00:21:30.559
Um, so you can message him directly.
00:21:30.640 --> 00:21:32.960
And guys, um, you know what?
00:21:33.200 --> 00:21:42.319
This industry it's it's people feel like it's tough times right now, and I get it, but it's also exciting exciting times because there's so many cool things coming.
00:21:42.799 --> 00:21:43.519
Absolutely.
00:21:43.680 --> 00:21:46.240
There there's only one direction up is up.
00:21:46.720 --> 00:21:47.200
100%.
00:21:47.519 --> 00:21:48.799
All right, guys, we'll see you next month.
00:00:00.239 --> 00:00:09.519
We are just a few weeks away from the third largest award rate increase since the global financial crisis.
00:00:09.759 --> 00:00:13.919
Don't be like, oh, I can't pass all my community because you're gonna be the broadcast on the street.
00:00:14.240 --> 00:00:17.600
50 years ago, a cup of coffee was 50 cents.
00:00:17.760 --> 00:00:24.879
If I'd have told you then that it would be 550, now 10 times more expensive, you would have told me I was an idiot.
00:00:24.960 --> 00:00:26.879
Historically, they've always paid.
00:00:27.039 --> 00:00:32.640
If you're on the front foot and you're out there in your community, you got a solid product and your pricing's right.
00:00:32.799 --> 00:00:36.240
I promise you, you're still gonna fucking make money in this period.
00:00:41.920 --> 00:00:44.880
Welcome back to our monthly industry updates.
00:00:44.960 --> 00:00:46.880
Uh with the man, the myth, the legend.
00:00:47.039 --> 00:00:48.079
Where's Lambert?
00:00:48.240 --> 00:00:51.840
We know there's been we know what's what we're gonna say.
00:00:52.000 --> 00:00:54.079
The wage increase is coming out.
00:00:54.320 --> 00:00:56.000
Um talk to me.
00:00:56.240 --> 00:00:57.280
Talk to me.
00:00:57.759 --> 00:00:58.560
What's happened?
00:00:58.719 --> 00:01:01.600
Well well, look, uh, I hate to say I told you so.
00:01:01.679 --> 00:01:13.120
Um, that's one of the worst things that we can possibly say, but we've been shouting from the rooftops that businesses should expect four and a half to six, and then we narrowed that down to four and a half to five.
00:01:13.280 --> 00:01:15.439
Oh, magic, four point seven.
00:01:15.760 --> 00:01:22.000
Um, so you know, we we certainly know what's going on when it comes to government and uh the Fair Work Commission.
00:01:23.519 --> 00:01:27.120
And for everyone out there now who's like, oh, I can't believe this has happened.
00:01:27.200 --> 00:01:32.799
We have been saying it uh for three, well, what three months, four months.
00:01:33.040 --> 00:01:34.079
Three months, four months.
00:01:34.159 --> 00:01:46.719
So you should absolutely be tuning in to these monthly updates because we can tell you months in advance what's going to happen based upon our conversations in Canberra and in state houses uh and with the bureaucrats.
00:01:46.879 --> 00:01:48.319
We know we predicted this.
00:01:48.480 --> 00:01:58.640
Now here we are, and just a few weeks away from the third largest award rate increase since the global financial crisis.
00:01:58.959 --> 00:01:59.680
Crazy.
00:02:00.239 --> 00:02:01.200
It's crazy.
00:02:01.599 --> 00:02:11.280
And so if you're if you're on a million bucks payroll right now, um, you spend a million dollars a year, payroll's just gone up by a thousand bucks a week.
00:02:11.520 --> 00:02:15.439
Uh that means all your promises just need to go up to match that.
00:02:15.599 --> 00:02:20.319
Now don't don't be like, oh, I can't pass it on the community, because you're gonna be the brocast on the street.
00:02:20.479 --> 00:02:22.960
You need to, we you need to you need to price this.
00:02:23.039 --> 00:02:23.840
What what can I cut?
00:02:24.000 --> 00:02:24.479
What can I do?
00:02:24.560 --> 00:02:25.840
What can I get more efficient in?
00:02:26.000 --> 00:02:27.280
And then you just gotta pass it on.
00:02:27.360 --> 00:02:28.240
You just pass it on.
00:02:28.479 --> 00:02:30.639
Everyone else is passing on, you've got to pass it on too.
00:02:30.719 --> 00:02:31.439
That's my one thing.
00:02:31.599 --> 00:02:32.159
Pass it on.
00:02:32.400 --> 00:02:36.240
You don't pass it on, uh you probably just you've got to pass it on.
00:02:36.479 --> 00:02:37.439
End of story.
00:02:37.759 --> 00:02:38.639
End of story.
00:02:38.719 --> 00:02:46.400
Uh in fact, I saw a report this morning from Ibis World for the fast food industry that had been booming in 2025.
00:02:46.719 --> 00:02:56.800
Even the fast food segment of accommodation food service, their profitability dropped from in the eights to in the sixes into 2026.
00:02:57.039 --> 00:02:59.039
So this is no joke, right?
00:02:59.199 --> 00:03:01.599
You cannot not put your prices up.
00:03:01.759 --> 00:03:03.840
This is not a one-time thing, right?
00:03:03.919 --> 00:03:06.319
We're in a high inflationary period.
00:03:06.560 --> 00:03:14.719
And the RBA and economists don't think that inflation is going to slow down until the middle or end of 2027.
00:03:15.199 --> 00:03:18.319
That is a year to 18 months from now.
00:03:18.560 --> 00:03:22.319
So you cannot hold on hoping that things will get better.
00:03:22.560 --> 00:03:24.639
You need to re-engineer your menu.
00:03:24.800 --> 00:03:50.159
You need to make sure that you have uh items with high contribution margin, and you need to put your prices up in a way that will cover not only the minimum wage increase, but will allow you the cash flow once payday super comes into effect on the same day, and to absorb the surcharge ban on debit and credit cards on the MasterCard and Visa Rails and FPOS.
00:03:50.639 --> 00:03:57.360
And at the end of the year, depending upon what type of hospitality businesses you own, the end of junior rates.
00:03:57.520 --> 00:03:57.840
Yeah.
00:03:58.000 --> 00:03:58.639
Yep.
00:03:59.039 --> 00:04:00.639
Uh 100%.
00:04:01.520 --> 00:04:02.000
100%.
00:04:02.719 --> 00:04:06.159
It's well, I'm actually quite excited to be honest.
00:04:06.240 --> 00:04:07.039
I'm gonna be honest with you.
00:04:07.120 --> 00:04:10.719
If you're out there hurting right now, this is your opportunity to to grow and change.
00:04:10.800 --> 00:04:15.840
I'm gonna put a link down below uh to some of our free content out there, which is gonna help you with your menu.
00:04:16.000 --> 00:04:28.000
I'm also gonna put a link to um a couple of our really kind of lower level programs, which will help you figure out your cogs and your margins a lot better for that thing because uh this is the time where we're gonna have haves or have nots.
00:04:28.160 --> 00:04:30.000
You're either gonna crush it, you're gonna do okay.
00:04:30.160 --> 00:04:33.839
Um, if you're already struggling and you don't make these changes, you're not on the front foot.
00:04:34.000 --> 00:04:36.240
Uh you you got a really fucking hurt coming up.
00:04:36.399 --> 00:04:38.639
All right, Wes, um mate, do you have any good news?
00:04:38.720 --> 00:04:42.160
Or are you just gonna keep coming on every month and giving us this bad new bullshit?
00:04:42.240 --> 00:04:42.639
What's going on?
00:04:42.959 --> 00:04:48.639
So, look, we we have these conversations in order to make sure that the industry is prepared for what's coming.
00:04:49.279 --> 00:04:56.560
And unfortunately, 2026, and we said this in January, 2026 is gonna be a tough year for hospitality.
00:04:56.639 --> 00:05:04.879
And so you need to hunker down, you need to make changes, make plans, and believe us, because we know what we're talking about and we know it's coming.
00:05:05.040 --> 00:05:08.480
So here we are in June, and we've all got to get to 31 December.
00:05:08.639 --> 00:05:19.360
So, what I would say is the good news is you have the information in order to make sure that your business not only survives, but actually thrives into this, right?
00:05:19.519 --> 00:05:22.720
So it doesn't mean that people aren't spending.
00:05:22.959 --> 00:05:38.800
So spending is relatively flat, meaning consumers, while they're not buying the more premium items, they're not necessarily ordering as many things as they did um right after COVID when they felt more rich, but they're still going out.
00:05:39.040 --> 00:05:47.680
And as long as you're providing that value, as long as you're providing a great experience, your business doesn't necessarily have to suffer.
00:05:47.920 --> 00:06:01.279
You need to engineer, re-engineer, you need to make sure that on your fiscal 27 prices, that you have enough margin in all the items to cover everything you need to cover, and you need to go talk to your landlords.
00:06:01.600 --> 00:06:04.240
You you can negotiate your rent down.
00:06:04.399 --> 00:06:08.480
It happens all the time in every capital city in every corner of Australia.
00:06:08.560 --> 00:06:15.600
Uh, you can get your rent adjusted to the right size to your business, because no landlord wants an empty shopfront.
00:06:15.680 --> 00:06:16.879
That's no good for anyone.
00:06:17.040 --> 00:06:41.600
So you this is the time now to work to make sure that your business survives because when 2027 rolls around and tourism begins to pick up again, and Michelin launches in South Australia in October, and hopefully in the other states uh in 2027, we will see some green shoots and we will see greener pastures.
00:06:41.759 --> 00:06:48.079
But it's this period of the next 12 to 18 months where you need to listen to advisors.
00:06:48.160 --> 00:06:50.399
Don't say my customers won't pay.
00:06:51.040 --> 00:06:54.560
Fifty years ago, a cup of coffee was 50 cents.
00:06:54.800 --> 00:07:03.199
If I'd have told you then that it would be 550 now, 10 times more expensive, you would have told me I was an idiot.
00:07:03.439 --> 00:07:03.759
Okay.
00:07:04.079 --> 00:07:09.519
Well, that permeates you telling us we're idiots now that you can't put your prices up, your consumers won't pay.
00:07:09.759 --> 00:07:12.319
Well, historically, they've always paid.
00:07:12.480 --> 00:07:16.319
We're consuming more coffee today than we ever did 50 years ago.
00:07:16.480 --> 00:07:18.240
So consumers will pay.
00:07:18.399 --> 00:07:26.079
It's about how you engineer your menu, the kind of value and the kind of experiences you give, and stop making excuses.
00:07:26.319 --> 00:07:28.800
So the good news is you still have time.
00:07:29.040 --> 00:07:31.199
The good news is you have the information.
00:07:31.360 --> 00:07:39.680
And the good news is Foodie Coaches and the Australian Restaurant and Cafe Association are here to help you, and we can help you get through this.
00:07:39.920 --> 00:07:40.079
Yeah.
00:07:40.160 --> 00:07:46.319
And I'll put some links down below on this this I'm gonna put down some free stuff and some paid stuff so you can get what you need.
00:07:46.480 --> 00:07:49.040
Um, I just want to frame up a couple of things here.
00:07:49.120 --> 00:07:52.879
Uh, because obviously, you know, we've got a bunch of members all around Australia.
00:07:52.959 --> 00:07:58.000
We get to we're in a really unique position that we get to talk to so many different types of businesses.
00:07:58.240 --> 00:08:00.480
There's a couple of key things that I just want to note.
00:08:00.560 --> 00:08:03.920
So if you're watching this, uh you can be like, cool, I'm not alone.
00:08:04.079 --> 00:08:07.680
Um, customer numbers are remaining fairly constant at the moment.
00:08:07.839 --> 00:08:14.079
We're seeing spends uh spends during the week or during the week, especially down, just dropping.
00:08:14.959 --> 00:08:17.040
We've still got members doing record weeks.
00:08:17.120 --> 00:08:18.399
We've got we've got members.
00:08:18.560 --> 00:08:25.199
I spoke to um one of my private guys, he's 40% up on last year, week on week on week.
00:08:25.360 --> 00:08:26.959
Uh his spends are up.
00:08:27.199 --> 00:08:30.639
Um, and it's just it's just depending where people are.
00:08:30.879 --> 00:08:39.519
And then what the other thing we're finding is people still spending money on their special occasions, they're still spending money on their weekend breakfasts, they're still spend people are still spending money.
00:08:39.759 --> 00:08:44.080
The other thing that we're noticing the difference in is the between the haves and the haves nots.
00:08:44.240 --> 00:08:51.039
The people who are crushing their social media and engaging with their community are keeping their numbers up.
00:08:51.279 --> 00:08:56.159
The guys who aren't who the number the custom numbers are dropping, it's because their social media is dropping.
00:08:56.240 --> 00:09:01.039
Like people are really moving to that, they're going to what's in front of them all the time.
00:09:01.120 --> 00:09:08.240
And if you're not out there on your social media um and you're struggling, you don't know what to do, I'll put a link to that program down below as well.
00:09:08.399 --> 00:09:09.679
This isn't a pitch session.
00:09:09.759 --> 00:09:22.080
This is about if you're on the front foot and you're out there in your community, you got a solid product and your pricing's right, I promise you, you're still gonna fucking make money in this period and potentially make more money.
00:09:22.320 --> 00:09:23.039
Absolutely.
00:09:23.200 --> 00:09:24.320
Um, you're you're right.
00:09:24.480 --> 00:09:40.000
There is a there is a portion of the population, especially those um, you know, um older Xers and boomers uh who still feel wealthy in terms of their property and you know the their superannuation and their lifetime investments.
00:09:40.080 --> 00:09:43.039
And so that portion of the population, they're spending.
00:09:43.279 --> 00:09:46.240
And the tourists that are coming to Australia, they're spending.
00:09:46.480 --> 00:09:52.799
It's just what we call that mushy middle, that family dining, that mid-market, you know, it's really having a tough time.
00:09:52.960 --> 00:09:58.480
Plus, I can tell you that many people I know they're cutting down on the number of coffees that they're having.
00:09:58.559 --> 00:10:06.320
Uh, you know, they're they're or maybe they're, you know, taking one from home a couple of days a week just to be able to pay the increase in their mortgage.
00:10:06.480 --> 00:10:13.519
And so, you know, certainly there are some constraints to spending, and that's going to continue until we start seeing interest rates going down.
00:10:13.840 --> 00:10:20.399
But but look, ultimately, we're entering the winter and um you know, winter will go by very quickly.
00:10:20.559 --> 00:10:33.200
You know, we've only got you know two months and three weeks of winter left, and then we'll get into that springtime and into you know the spring racing carnivals around the country and you know, and new beginnings, and then the summer busy season.
00:10:33.360 --> 00:10:46.000
That's really what you want to prepare for and survive to, because ultimately as things begin to slow down, right, as inflation begins to back off, you know, it won't be all of a sudden at one time.
00:10:46.159 --> 00:10:51.440
Hopefully, we'll start seeing inflation tick down after it peaks in June, July.
00:10:51.519 --> 00:10:53.200
And then we'll be able to notice that.
00:10:53.360 --> 00:11:00.240
And people will begin to feel a bit more wealthy and they'll begin to feel like, okay, maybe I can go out and have that one extra meal a week.
00:11:00.399 --> 00:11:01.759
It'll make a huge difference.
00:11:02.000 --> 00:11:02.240
Yep.
00:11:02.559 --> 00:11:06.879
Switching gears a little bit, we're headed to Canberra um in two weeks.
00:11:07.360 --> 00:11:09.039
Yeah, so we're heading to Canberra.
00:11:09.360 --> 00:11:10.080
All bad news.
00:11:10.159 --> 00:11:12.399
What's the next fucking blow you're gonna deliver this into?
00:11:12.720 --> 00:11:14.960
No, no, not a blow, not a blow.
00:11:15.200 --> 00:11:23.759
So I have it on good authority that um we are this close to making some changes to the capital gains taxation.
00:11:23.840 --> 00:11:27.120
Um, and I don't want to announce uh that it's done.
00:11:27.279 --> 00:11:39.279
However, uh, we're pretty sure that small businesses are going to be protected, um, that we're gonna get those um thresholds lifted uh to match the federal definition of a small business.
00:11:39.360 --> 00:11:46.480
Uh, and that's gonna mean a huge difference to all the restaurants and cafes around the country that we know fall below the cap.
00:11:46.879 --> 00:11:58.720
Uh many uh operators were worried that they might not be able to sell their business or they might um you know have to pay a huge tax bill uh to sell it for what they want, or you know, may not be able to grow.
00:11:58.879 --> 00:12:09.279
And so we're working with uh Cosboa, the Council of Small Business uh organizations, um, to get the changes made to the CGT legislation in uh Senate committee.
00:12:09.440 --> 00:12:11.919
And so that will be huge and good news.
00:12:12.080 --> 00:12:14.080
So look, it's it's not all bad news.
00:12:14.159 --> 00:12:15.600
Um bringing some good news.
00:12:16.080 --> 00:12:21.200
It is when we get back from Canberra, um, the first week of July, everything crossed.
00:12:21.360 --> 00:12:25.200
Um, we we will know uh if the government is listening to small business.
00:12:25.519 --> 00:12:27.840
I don't even know who this guy is bringing good news.
00:12:28.000 --> 00:12:39.600
Um, so what you're trying to say is is everyone that's gone and posted photos with like Elvo as their new business partner in their business might have to redact those statements because potentially they're not.
00:12:39.679 --> 00:12:40.080
Is that right?
00:12:40.320 --> 00:12:56.159
If they're a small if they're a small business, if they fall under the the federal definition, you know, there's dozens and dozens of definitions of small business to suit you know the states and and local and federal governments for whatever it is they defined it in that particular bureaucracy.
00:12:56.320 --> 00:13:10.320
But ultimately, we're trying to get it aligned to the federal definition of small business, uh, which means it would pick up um about 90% of restaurants and cafes around the country would then not have to worry about the changes to CGT.
00:13:10.480 --> 00:13:17.679
Um, and let me tell you, the trust tax changes, we are going to come at that like a tsunami.
00:13:17.840 --> 00:13:23.600
Um, that isn't going to be debated until um fiscal 27, so August, September, they say.
00:13:23.840 --> 00:13:39.919
And we are going to fight tooth and nail to ensure that uh the unintended consequences of small businesses, small family businesses being swept up in that double taxation, uh, we're going to do everything we can to ensure that um that small businesses are carved out.
00:13:40.159 --> 00:13:49.120
Yeah, if you're not across, if you're not across these changes and what they mean, I sat um as in like you're watching this right now and you're not across it, and you're kind of like, oh, I don't really understand it.
00:13:49.360 --> 00:14:02.480
Pretty much, um, if you've got a trading company and you've got a trust as a shareholder, which most of us do, um, I sat in a half day meeting with with our, you know, our finance and accounting team, and they explained it all to me.
00:14:02.559 --> 00:14:05.279
And I was like, This is a fucking abomination.
00:14:05.519 --> 00:14:11.440
Pretty much what happens is you get your shares, um, your shares come out, now you're attached with the franking credit.
00:14:11.519 --> 00:14:23.360
So the tax that the company pays comes out with it, and then usually it goes to your trust, and you can distribute that to yourself or your kids or your mom or whatever, or to another company, and the tax stays with them.
00:14:23.519 --> 00:14:29.759
What they're saying with the changes of the trust is they're like, nah, you got you don't keep the tax anymore, you got to double pay tax on it.
00:14:29.919 --> 00:14:42.080
So effectively, if you pay out a hundred thousand dollar dividend, usually that means you get$70,000 in cash, a$30,000 franking credit, or and accountants, you can fucking pick me up on the 2% or whatever.
00:14:42.320 --> 00:14:44.799
And then it gets to your trust and goes with it.
00:14:44.879 --> 00:14:53.440
What they're saying is it gets to your trust, that$30k stays in your trust, and then the 70k comes out, and then you've got to pay another 30 cent tax on it again.
00:14:53.679 --> 00:14:55.519
And everyone's like, we're gonna change structures.
00:14:55.679 --> 00:14:58.559
So um, I appreciate the fact that you're in there.
00:14:58.720 --> 00:15:04.000
And guys, this is why um, you know, when you're like, oh, why join an industry association?
00:15:04.159 --> 00:15:06.320
This is why, because this is what Wes does.
00:15:06.399 --> 00:15:08.240
And like, uh, we're gonna put up a photo here.
00:15:08.399 --> 00:15:10.879
Wes has got an actual photo with the Prime Minister.
00:15:11.039 --> 00:15:13.840
This isn't, listen, from the other night, budget night.
00:15:14.080 --> 00:15:17.919
Um, you know, he's got an actual photo, it's a real one, and we're gonna put it up here.
00:15:18.000 --> 00:15:21.759
So this is this is what Wes goes and does, and he brings going, hey guys, this is a bad idea.
00:15:21.919 --> 00:15:22.960
You're gonna change this shit.
00:15:23.039 --> 00:15:24.559
So I appreciate that, Wes.
00:15:24.720 --> 00:15:28.559
What other things do we need to update the industry on before we get out of here?
00:15:28.720 --> 00:15:30.240
Oh, look, end of financial year.
00:15:30.320 --> 00:15:35.840
Um, there are always a lot of changes that happen on the first uh of July every year.
00:15:36.000 --> 00:15:47.840
Um, there's gonna be changes um around uh depending upon what state you're in, uh, you need to check and make sure that uh no single-use plastics uh updates are coming in in your state.
00:15:48.000 --> 00:15:54.639
Um there's some uh waste uh changes coming into multiple states, especially on the East Coast.
00:15:54.799 --> 00:16:03.360
Um the seafood labeling is coming into effect, um, and you'll need to make sure that your menus are updated with um according to the seafood labeling.
00:16:03.519 --> 00:16:11.200
As I said before, payday super, um, that happens on the first of July, which happens to be uh not on the end of the week, it's in the middle of the week.
00:16:11.279 --> 00:16:16.799
Um, so make sure that you're ready for that if you're not already paying super with every pay period.
00:16:16.960 --> 00:16:27.279
Um, and you know, depending upon where you are around the country, there may be local changes, uh, especially to things like liquor licenses and uh other compliance issues.
00:16:27.440 --> 00:16:29.200
Just make sure that you are up to date.
00:16:29.279 --> 00:16:44.159
Um, there are multiple websites that you can go to, um, your city council websites, um, your liquor licensing websites in your state, um, as well as the ATO and ARCAS website, you can come to www.arca.org.au.
00:16:44.480 --> 00:16:50.879
And as long as you're a member uh in your portal, we always put the uh updates that uh come to us from the government bodies.
00:16:51.200 --> 00:16:53.679
Okay, this is what we're gonna do, my team gonna hate me for this.
00:16:53.840 --> 00:17:04.240
Uh team, can you put a link through to our foundation programs that if people need to focus on their costs or they're bringing more people through their door and their marketing, they've got access to that.
00:17:04.400 --> 00:17:10.480
Can we also put a link through to the replay of the payday super webinar that we did to help people step that through?
00:17:10.640 --> 00:17:13.599
And can we also put a link down to Arca's website?
00:17:13.839 --> 00:17:16.319
So uh if you're not a member, go and be a member.
00:17:16.400 --> 00:17:18.480
It's like it's fucking cheap, man.
00:17:18.640 --> 00:17:21.759
Go and do it and support the people that are supporting us.
00:17:21.920 --> 00:17:26.799
And then once you're a member, you get access to a fair bit of all those things that you just told us about.
00:17:26.880 --> 00:17:28.480
So you don't even need to go search.
00:17:29.119 --> 00:17:36.319
Also, um uh to uh someone who made a comment on one of your posts recently.
00:17:36.559 --> 00:17:41.759
Uh, for those of you who don't know, my entire life has been in hospitality.
00:17:41.839 --> 00:17:46.000
I faked an ID when I was 14 to work in a Wendy's fast food restaurant.
00:17:46.160 --> 00:17:48.640
I waited tables all through high school in the uni.
00:17:49.039 --> 00:18:02.640
I was an investment banker in restaurant capital, and then I managed a medium-sized nightclub, and then I owned the largest nightclub in North America, up 10,000 square meters and three buildings on 1.4 acres of land.
00:18:02.880 --> 00:18:14.799
Sold that, moved to Thailand, and bought a pub, and sold that and moved to Australia and restructured the first full-service restaurant group in Australia called Pacific Restaurant Group.
00:18:14.880 --> 00:18:24.960
We owned Kingsley's, uh, built Chop House, and I partnered with Jamie Oliver and was the master franchisee for Jamie's Italian Australia and the licensee above the door.
00:18:25.359 --> 00:18:36.400
So if anybody wonders if this guy who's advocating now has any experience in hospitality, I think I have a a little bit.
00:18:36.559 --> 00:18:37.440
Just a little bit.
00:18:37.759 --> 00:18:38.880
You know what, man.
00:18:39.599 --> 00:18:43.839
The thing is, it's like you don't need to explain yourself to people in the comments, man.
00:18:44.160 --> 00:18:48.000
There's you're out there commenting, usually it don't do it.
00:18:48.079 --> 00:18:50.960
I thought you spend all your life explaining yourself to people in the comments.
00:18:52.000 --> 00:18:54.799
Well, yeah, I'm sure that it was a question out there, right?
00:18:54.880 --> 00:18:56.960
Who is this guy who's advocating our behalf?
00:18:57.119 --> 00:18:58.799
Has he ever worked in the industry?
00:18:58.960 --> 00:19:07.440
Man, I have worked the hours of every hospitality professional in the country and around the world, and I know exactly what you're going through.
00:19:07.599 --> 00:19:10.960
And so it helps us to be able to advocate on your behalf.
00:19:11.119 --> 00:19:15.599
It's really important that those people advocating on your behalf have worked in the industry.
00:19:15.839 --> 00:19:22.880
All the people in Canberra who probably haven't worked a day in hospitality in their entire fucking life have haven't worked in any business at all.
00:19:23.200 --> 00:19:23.599
Yeah.
00:19:23.759 --> 00:19:24.240
Yeah.
00:19:24.559 --> 00:19:27.680
So that this is the reason why people like Wes are important.
00:19:27.839 --> 00:19:31.039
Um, and so Wes, thanks for letting us know about your qualifications.
00:19:31.200 --> 00:19:41.680
If anyone wants to know all of the pizzas, that's all I've done, other than running the largest hospitality coaching business, probably in Australia, at least in the southern hemisphere.
00:19:41.839 --> 00:19:45.759
It's you know, we work with other two and a half thousand owners worldwide.
00:19:45.920 --> 00:19:51.279
So, guys, this isn't about like he says, she says, this is about what can we do to make this industry better?
00:19:51.440 --> 00:19:53.759
What can we do to make this industry more profitable?
00:19:54.000 --> 00:20:10.400
And what can we do as an industry to stand together to get the best possible results, not only for us as owners, but also for our teams and inspiring young people to come back into this industry and making sure that we're here to serve the communities in the most positive way that we can.
00:20:10.559 --> 00:20:13.039
So that's why we're here, that's why we do what we do.
00:20:13.200 --> 00:20:15.680
Um, please, links below if you need anything.
00:20:15.839 --> 00:20:22.559
So I've got my team here who's saying, Well, thanks for the photo of you and Elbow, and they want to see another one next time you're in Canberra.
00:20:22.799 --> 00:20:26.160
Every time you're in Canberra, we want to see another one that we can post.
00:20:26.240 --> 00:20:27.759
That's been the request.
00:20:28.000 --> 00:20:36.640
Um, so at least that we know you're going to Canberra and that you're just not, you know, doing nothing as a hospitality non-expert that you are.
00:20:37.599 --> 00:20:38.640
You know what, Tim?
00:20:38.799 --> 00:20:43.599
I have not been able to find anyone around this country that doesn't know who you are.
00:20:43.839 --> 00:20:50.799
So I would say that you are the preeminent uh hospitality coach in the country.
00:20:50.960 --> 00:20:52.240
Um, everybody knows you.
00:20:52.319 --> 00:20:54.400
You're everywhere all at once, all the time.
00:20:54.559 --> 00:20:56.319
And we really appreciate you.
00:20:56.640 --> 00:20:57.440
All right, team.
00:20:57.519 --> 00:20:59.119
So um links below.
00:20:59.279 --> 00:21:08.000
Uh we've got some really foundational programs that uh are very, very cost effective for ROI that can get more people through the door and help you with your costs.
00:21:08.160 --> 00:21:12.079
We'll put a link to the payday super webinar that we ran, which is like an information thing.
00:21:12.160 --> 00:21:14.480
So you can, if you haven't seen it, you've got an opportunity there.
00:21:14.640 --> 00:21:16.000
I'm gonna put a link to ARCA.
00:21:16.079 --> 00:21:18.000
If you're not a member yet, just go and join.
00:21:18.160 --> 00:21:20.799
Um, this is why Wes is is advocating.
00:21:20.880 --> 00:21:25.680
And then once you join the you and you want to chat to Wes, Wes loves talking to people.
00:21:25.759 --> 00:21:28.720
He will bring you to Canberra and sit you in front of these guys.
00:21:28.799 --> 00:21:30.559
Um, so you can message him directly.
00:21:30.640 --> 00:21:32.960
And guys, um, you know what?
00:21:33.200 --> 00:21:42.319
This industry it's it's people feel like it's tough times right now, and I get it, but it's also exciting exciting times because there's so many cool things coming.
00:21:42.799 --> 00:21:43.519
Absolutely.
00:21:43.680 --> 00:21:46.240
There there's only one direction up is up.
00:21:46.720 --> 00:21:47.200
100%.
00:21:47.519 --> 00:21:48.799
All right, guys, we'll see you next month.
