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Rick’s Cabaret International Director of Operations Ed Anaker on the company’s growth in a tight market.
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-- for Rick's Cabaret International as a company operating gentlemen's clubs and restaurants are across the country.
Looking to open for more locations that this year as they increase her so how -- they stay competitive in this market joining us now is -- and a car.
He is Rick's cabaret is -- national director of operations and management.
Services present good to see -- thanks for coming -- appreciated by the way you are I do was show called Forbes on -- you were -- according to Forbes.
One of America's 200 best -- small company so congratulations on that.
I'm just wondering though what is your demographic that your most interested in targeting I mean obviously it's mail but.
But what kind of mail and what kind of places where's where's your best target.
By David what we have we have 36 locations nationwide we have new you know variety of concepts brands.
We have directs brand which is our flagship.
Which we cater for Donnelley to mature male.
35 and up.
And then we have JCC batteries which is more blue collar.
Caters to younger clientele.
We have a club onyx.
Which also was.
-- -- -- -- And we have four locations.
We have one in North Philadelphia we have -- -- Charlotte one of Houston one in Dallas.
Those locations cater for probably two African million African American.
Professionals.
We have we see a lot of thought professional athletes we see a lot of thought so.
When you're on the ground there -- -- -- On the -- -- is curious on how surviving how you doing so well.
In an environment where everybody's sort of you know strapped for cash they buckled down.
There -- only buying what they need in this is seen as a rather frivolous purchase to go into Rick's cabaret -- are other.
You know -- like to call our businesses recession resistant you know where.
Where when the when the times are rough PC people come -- and to get away from their troubles the announcer relax and forget about all the problems.
-- you know and and our our business you know the numbers stay consistent.
And when people are celebrating in times are good when a market -- -- people -- and -- celebrate.
But retailers there are changing their patterns based on the changing patterns of certain groups of people I never got a final question of which of all those groups that you service and -- a lot of different groups of males that your.
That your into that you target which one as the most profitable and which one are you trying to to focus on more right now.
Well right now -- focus and an all all types of demographics you know we -- the younger demographic.
Obviously we do a lot of volume.
And some of our clumsy you don't see.
You know like you know.
Five years ago six years ago we see more of the -- the high and locations don't volume.
Where.
You know customers come and big spenders will come -- and spend 101000 that's.
We're not we're not seen as much of it but -- made up the numbers by -- and more the regular guys are coming in on a daily basis men and 500 dollars.
Or is it more volume.
-- what other Rick's cabaret every attorney in that male 35 and up more -- more sophisticated customer what do they spend when they come in.
Average spend is about 300 to 500 per per guest.
Okay certain that being said I'm just curious what's -- what's the outlook for a company like you and your very small you are publicly traded -- Are we gonna see more you throughout the country -- yeah.
How is it tough to get past at all these strict regulations that you -- or do you see big growth opportunities.
Would there's great growth opportunities we you know we we did 95 point two million the last -- fiscal year.
And aware we're on track to do -- 150 million this year.
Where our goals to grow -- twenty to 30% Natalie.
You know we'll get -- do it through and by and more locations you know existing locations.
That the restrictions and regulations and most cities you'll have warned there's a limit of clubs he you know.
We have to buy an existing location as grandfather then it has -- for -- license for example New York City were open and a single location there's only eight.
Existing locations that have a -- under license from all two of them.
Hey Ed I gotta ask you this is -- off the press in Florida lawmakers are considering legislation would ban.
Those receiving government assistance from using their EDT cars that's -- food stamp cards.
At strip clubs have never had folks try to do that at your place.
Don't you know not a rally -- we've never actually that's -- that's not absolute denial -- Democrat.
And that now we don't see -- months.
Much OK we've had to quote Ohio lie there we might have had a few people try to -- are some who are blue collar locations what we do.
We have the younger demographics.
But you don't accept that.
We don't accept it now kept her a Dutch I needed to get John record that I don't wanna get -- trouble ahead but hey thanks a lot for coming in bed and record that -- you -- that.
