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Baja Fresh CEO on Commodities and Lending

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  • Description

    Baja Fresh CEO David Kim weighs in on the state of business.

  • Duration 5:37
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All right -- appliances such as micro -- freezers and can openers are must from -- restaurants out there our next guest has made it a point to ban them all from his restaurant making sure that customers receive.

The freshest food possible in the company lives up to its own name David Cain is is CEO of Baja fresh thank you for being here today gave -- Vacation money -- -- I get acted tell you I was so excited to hear that your coming on the show today because I can tell you every time I go seven to this state of California and make sure I make three stops.

One is a copy me an anti elite the other one is in an out and my third stock is to Baja fresh never mind that I -- on eight on a treadmill for the next five days.

But -- brand had built up such great loyalty such as a loyalty I have three year brand.

How's it doing for housing helping your business -- your business going right now.

Are good.

Our business is doing well but because of a lot of the problems that we're having with inflation issues.

Where are struggling a little bit on that front but we are doing everything we can't -- growth think you.

Are right so let's talk about some of the other things that you are focused on -- inflation is is impacting you this is not necessarily something new that we've been hearing out of food retailer so what is is doing to your business -- it's impacting your profits.

Is it impacting the prices -- people pay when they come into our Baja fresh restaurant.

You know our commodity prices gone up so much -- from last year.

And what should be going up this coming down like aren't wages.

And -- and now what it should be coming down which is going up -- our commodity prices.

Yes and of course it really affects our.

Consumers because when we get squeezed by these commodity prices we eventually -- the reasons prices.

And it's it's really not been fortunate position where we are.

But if we could somehow get.

Leadership in government to bring down these commodity prices bring down taxes so that.

Companies like ours could reinvest back in grow this business and that's that's what we're in it for every day to make sure that.

We bring great products for our service and yet we like to grow at the same time.

David EM I told my -- you were coming on the show -- shares your body's enthusiasm.

And we tell looked at the franchising out for you for your place in the -- look pretty reasonable but the question is -- people getting financing.

To become franchisees.

Charles that's a great question.

We need credit to be released I mean we we need to ease that credit up there are so many companies including our company.

Debt to win the government and the banks tell us that yes -- -- available capital not for small businesses it's all for fortune 500 companies and I am not complaining because we're trying our best to get financing.

But when you have all these regular -- -- Constraints on base it really trickles down to small businesses like us -- yes we are having problems with getting financing.

If we -- yet financing that we can really grow and our franchisees could grow and to add on top of that yesterday I was talking to one.

Of our bankers we finally got all heard the hum above easing credit -- did he not talks about a well we don't we're having some concerns because now you get pressure on.

Commodity prices like if you can never -- with its its revisions we finally get try to get credit now it's it's commodities it's just like -- -- map right now yeah.

-- you haven't been able to tear on credit been able to get around these credit financing issues you are expanding your store base by fifty storage this year so it's not all bad it's not a negative picture all the way around how are you growing despite.

His lack of access to the credit markets.

We have a great but I base our franchisees who are risking their capital in our brand and we have to do.

Almost quadrupled the work.

Of trying to find financing and we have to be very creative in that process so yes we have a lot of arsenals of getting financing.

But if the financing was ease up.

For other businesses including our business will -- greedy cut US economy start to grow again.

David we just got a minute the go you mentioned the government the last week the president's job council got together.

I see no legitimate small businesses on there.

If you could just speak to that group and the president what for -- one day or second what would you tell him to really start the economic engine growing in this country.

I would tell the president look.

Mr.

President just go to middle America didn't just drive one -- and CD shopping senators.

We have more going out of business signs then now hiring signs -- amazing these shopping centers just empty right now.

And what I would like to really ask him.

Is to -- -- -- these small business fueled up again we need small business small business makes up for more than 8590%.

Of this economy.

Continue to not please focus on -- small business and get us some -- today we can start taking risk is entrepreneurs and grow.

David can that we I love your company yeah and death we really value and appreciate the comments that you had great perspective from a small business -- Point of view come on join us any time and bring some burritos while you're -- that -- let Savion -- I would absolutely do that stage of reviving an -- -- that's right we will.

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