You're watching...
Nick Martin, Ian’s Pizza Restaurant owner and managing partner, on why he believes ObamaCare will be a benefit to his business, rather than an obsta...
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
We've been hearing from a lot of businesses threatening layoffs of price hikes because of the new health -- law on the costs may incur but we found a business owner who says.
The new -- might actually help his business.
Now is nick Varney is the owner eons pizza in Madison Wisconsin.
From what I've read it's the best pizza in the universe and everything I had been reading about it on the Internet these people cancer -- I wanna make a trip to Madison just to go and eat this stuff but a I thought okay we heard from Papa John's your Papa John's big chain all over very sort of that the -- of what you do which is much more -- home style business.
He says that he's gonna have to increase the price of -- in order to pay for.
The health care -- his and his expenses incurred from the health care law and you say that would help you -- Both personal thanks for having me on.
I don't necessarily think it's apples to -- desserts apples to apples here.
They just open their 4000 store we're talking about it's up for debate they're talking about.
Between three cents and -- fourteen cents price hike.
That's 1% for their prayer that's 1% on their on their prices.
Between us and Papa John's and that's because of of different things they have a huge economy of scale.
They have their purchasing power we're sending guys out to the farmer's market -- to pick up our local -- so we have them.
We have a different business model so I don't think that did this is gonna make -- this huge impact that everybody's.
Claiming that it's going to be.
Nick the conventional wisdom or at least that the general consensus redundant don't know what it is that the smaller price might get crushed by this because it won't be such a huge cost for each employee and therefore you will be very hesitant to bring on.
Full time employees.
Why are you saying that's not the case tell me what you see for your business.
All I can only speak to our business model we opened that we opened eleven years ago.
And a year after opening we we put down our values we stated that we are going to.
Put our people first.
And that's been an investment that we've made over the years that's proven to be very.
Successful for for our business.
We provide -- we have already been providing free health -- 100% coverage for health care.
We have profit sharing offer all of our employees -- very substantial profit sharing program.
We provided the health and tunnel as we mentioned and it.
It does wonders.
For the morale of the store does it does wonders for the caliber of employee that were able to hire.
And were able to retain them which do working with small businesses you know that turnover is a huge cost.
It's it's a small businesses business is also as it can cost thousands of dollars to turn over employees so when you can put things in place.
That did that allow you to detect cut back on the amount of turtle rehab just financially speaking it makes sense to invest in your people just on that and they let alone the the ethical argued.
Or is there is and owner of a big company whole foods his name is John -- is the founder that who agrees with the 100% he started out.
His own health care program for his employees they love it.
That what scares him though is that the government's gonna kind of come in and say it's no good -- you don't you don't fulfill this this in this that we say you have to do.
And that could fact he'd have to rip up this whole health care system because it doesn't fit government -- are you worried that might happen -- you.
In our situation we're not worried I believe we come in well above the regulations that are being put in place I said we cover.
Any full time employees eligible for a 100% health care coverage.
We have a lot of people on the health care plan it's it's a big financial investment that we make end for -- it works it's worked very well it's we get better employers like I mentioned.
We knew we carry ourselves on the high customer service standard.
And that -- you when you have an employee that feels part of the team in and and part of that the greater sense they're not going to work for somebody else they're gonna work for themselves and it's part of their pizza place.
I can do wonders for your -- morale -- -- can -- -- wonders for your customer service in your retention of employees.
As for the other as for other companies if the it it'll be it'll be a challenge -- -- it says to figure what they have to do to fall in line with those regulations all I can speak for is our own is our own company and our own philosophy in new in -- I want to New York start expanding we need you here.
I wish I delivered to my area code after after what.
That's the only time they act I don't -- candidate -- it's called -- speeds say it's in Madison Wisconsin and if you don't go there feel like be cheerful it's as simple as that McMartin thank you very much that it not freely here thanks for having -- on -- they're -- what he had he -- went to went to Howard Schultz did in the early years --
