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- A Michelin-starred chef said he doesn't make much money from his restaurant.
- Gareth Ward, chef-owner of Ynyshir, said he pays $100,000 in monthly wages alone.
- Ward charges diners at least $480 for its 30-course dinner.
A Michelin-starred chef who runs the UK's best restaurant said he's not profiting much from it.
Gareth Ward told the industry publication Restaurant that his two-Michelin star restaurant, Ynyshir, in Wales, isn't "a money maker," despite charging at least £380, or $480, per head.
"I'm not sat here, like rolling in money. I'm not Scrooge McDuck," Ward said.
"Not a penny comes out of this place," he added. "Anything we make, which is not a lot, goes straight back into improving Ynyshir because I want to hopefully push it to be one of the best restaurants in the world one day."
Ward chalked up his slim profits to using expensive ingredients, employing a large staff, and maintaining a sprawling plot of land.
Some of the premium ingredients Ward uses at Ynyshir include blue-fin tuna and wagyu beef aged for almost 10 months in a Himalayan salt chamber, per The Telegraph.
In terms of staff, Ward told Restaurant that he employs 27 people for the 20-cover restaurant, adding that his wage bill is £80,000 a month. Ward also has 14-and-a-half acres of land, which he said "costs a lot to run," per Restaurant.
However, Ward admits the slim profit margins are his doing. He told Restaurant that in pushing boundaries, he has inadvertently incurred costs.
"It's my fault, I have made it the way it is," Ward said. "I have wanted to push and push — use better ingredients, have more staff, being more extravagant in the things we do to give the most incredible experience when you come here. But, unfortunately, that comes at a cost. Someone needs to pay for it."
Ynyshir is located in a jet-black cottage surrounded by grasslands in the Welsh countryside. According to its website, the restaurant also operates a 10-room guesthouse, which starts at £290 a night. The restaurant offers a 30-course menu for dinner — which runs for four to five hours.
In 2022, Ynyshir became the first restaurant in Wales to notch two Michelin stars. It was also named the best restaurant in the UK at The Estrella Damm National Restaurant Awards in 2022 and 2023.
It's not the first time Ynyshir made headlines for its extravagant prices. Two weeks ago, the restaurant launched a £200, 10-course takeaway on UberEats that garnered mixed reviews.
Ward did not immediately respond to Business Insider's request for comment, sent outside regular office hours.