Here we are going to discuss about two things: Server Response and Browser Rendering
Server Response: Increasing server response time is little difficult as we need to audit and optimize php code and server configurations. We will talk about this latter.
Browser Rendering: Browser rendering optimization is quite easy which involves images optimizing, compressing and css/js/html minify, defer javascript loading, etc. The best tool we can use for analysis is Google PageSpeed Insights <https://developers.google.com/speed/pagespeed/insights/>, which will give you full report along with score and suggestion (if you have public URL). In other case we can use chrome extension named YSlow (recommended as this is useful for debugging on localhost).