1 00:00:00,261 --> 00:00:01,804 Mark Haney: Super excited about today's show. 2 00:00:02,486 --> 00:00:04,972 Mark Haney: One reason is because we're gonna talk 3 00:00:05,012 --> 00:00:07,886 Mark Haney: about something that might be considered by 4 00:00:08,007 --> 00:00:10,455 Mark Haney: some people as a little bit controversial. 5 00:00:11,117 --> 00:00:12,722 Mark Haney: I don't think it's all that controversial, 6 00:00:12,802 --> 00:00:16,430 Mark Haney: but I think it might be to some. 7 00:00:16,991 --> 00:00:20,118 Mark Haney: Today I have Eric Freeman in the house. 8 00:00:20,258 --> 00:00:23,970 Mark Haney: He is the CEO of Jim Boy's North America. 9 00:00:24,411 --> 00:00:25,153 Mark Haney: Welcome to the show. 10 00:00:25,635 --> 00:00:26,578 Erik Freeman: Hey Mark, how you doing. 11 00:00:26,598 --> 00:00:29,245 Mark Haney: Glad you are here Now, Jim Boy's North 12 00:00:29,285 --> 00:00:29,626 Mark Haney: America. 13 00:00:29,646 --> 00:00:31,169 Mark Haney: I mean, how big are you guys now? 14 00:00:31,710 --> 00:00:32,993 Mark Haney: Hey guys, you're still a taco stand. 15 00:00:33,780 --> 00:00:35,564 Erik Freeman: That's where my grandfather started. 16 00:00:35,825 --> 00:00:38,150 Erik Freeman: I love it it was at a 1954, just one 17 00:00:38,190 --> 00:00:38,511 Erik Freeman: trailer. 18 00:00:38,551 --> 00:00:41,127 Erik Freeman: We have 40 locations now, mostly in the 19 00:00:41,187 --> 00:00:43,275 Erik Freeman: Sacramento Northern California area, but we 20 00:00:43,315 --> 00:00:45,723 Erik Freeman: also have some in Nevada and Texas. 21 00:00:45,944 --> 00:00:48,913 Mark Haney: Well you guys, I'm gonna go out on a limb 22 00:00:48,954 --> 00:00:50,920 Mark Haney: and say you guys do have the best tacos in 23 00:00:51,101 --> 00:00:51,964 Mark Haney: North America. 24 00:00:52,708 --> 00:00:54,033 Mark Haney: I was gonna say the secret sauce, but 25 00:00:54,053 --> 00:00:55,419 Mark Haney: there's like little cheese or something 26 00:00:55,440 --> 00:00:56,925 Mark Haney: that you put on the tacos. 27 00:00:56,985 --> 00:00:59,173 Mark Haney: It makes it taste just a little bit of a 28 00:00:59,233 --> 00:01:00,578 Mark Haney: bite to it Tastes good. 29 00:01:00,879 --> 00:01:02,766 Erik Freeman: We like to say that we're the original 30 00:01:02,886 --> 00:01:05,536 Erik Freeman: American taco and it's Parmesan cheese. 31 00:01:05,576 --> 00:01:06,419 Erik Freeman: That's on the outside. 32 00:01:06,440 --> 00:01:08,407 Mark Haney: That's, I think, with whatever buddy craves. 33 00:01:08,769 --> 00:01:11,218 Mark Haney: And if you are a new listener, so this show 34 00:01:11,299 --> 00:01:13,467 Mark Haney: is all about winning and you know Eric and 35 00:01:13,527 --> 00:01:15,675 Mark Haney: his family have built a winning business, a 36 00:01:15,756 --> 00:01:19,226 Mark Haney: highly successful I'll call it a fast food 37 00:01:19,346 --> 00:01:21,291 Mark Haney: business, but it's really a great 38 00:01:21,832 --> 00:01:24,880 Mark Haney: restaurant and it's started right here in 39 00:01:25,069 --> 00:01:26,188 Mark Haney: the Sacramento area. 40 00:01:26,377 --> 00:01:29,043 Mark Haney: But again, this show is about winning and 41 00:01:29,232 --> 00:01:31,817 Mark Haney: we are building the backyard advantage the 42 00:01:31,953 --> 00:01:34,670 Mark Haney: most connected community in the world for 43 00:01:34,806 --> 00:01:37,133 Mark Haney: local entrepreneurs and it's centered 44 00:01:37,922 --> 00:01:41,651 Mark Haney: around this culture of love, helping one 45 00:01:41,712 --> 00:01:42,193 Mark Haney: another. 46 00:01:42,293 --> 00:01:44,800 Mark Haney: So if that is something that you want to be 47 00:01:44,820 --> 00:01:48,588 Mark Haney: a part of, for sure, come, get involved, 48 00:01:48,629 --> 00:01:51,976 Mark Haney: feel free to subscribe, to share, to 49 00:01:52,077 --> 00:01:54,785 Mark Haney: comment, but really, if you're one of these 50 00:01:54,805 --> 00:01:56,049 Mark Haney: people that gets it, you understand the 51 00:01:56,089 --> 00:01:57,012 Mark Haney: power of entrepreneurship. 52 00:01:57,903 --> 00:02:00,251 Mark Haney: Come start to chime in and be a part of 53 00:02:00,291 --> 00:02:00,552 Mark Haney: this. 54 00:02:01,215 --> 00:02:02,579 Mark Haney: And, as I mentioned today, I mean winning 55 00:02:02,600 --> 00:02:04,846 Mark Haney: is not really controversial, I think, but 56 00:02:05,127 --> 00:02:08,276 Mark Haney: sometimes the handcuffs that the government 57 00:02:08,798 --> 00:02:12,051 Mark Haney: applies to us and the regulations they can 58 00:02:12,071 --> 00:02:13,638 Mark Haney: be a little bit controversial because 59 00:02:13,658 --> 00:02:16,726 Mark Haney: obviously some people think that we should 60 00:02:16,766 --> 00:02:21,617 Mark Haney: be regulated and I think many of us get on 61 00:02:21,657 --> 00:02:23,603 Mark Haney: certain regulations we want to push back a 62 00:02:23,623 --> 00:02:23,985 Mark Haney: little bit. 63 00:02:24,306 --> 00:02:25,572 Mark Haney: Today we're going to be talking about 64 00:02:26,114 --> 00:02:28,181 Mark Haney: minimum wage, where you know there's a 65 00:02:28,302 --> 00:02:31,290 Mark Haney: there's a new wage increase that is being 66 00:02:31,310 --> 00:02:34,478 Mark Haney: mandated, called AB 1228. 67 00:02:34,498 --> 00:02:36,424 Mark Haney: Is that something that's affecting you? 68 00:02:37,207 --> 00:02:39,234 Erik Freeman: It's honestly, Mark, it's going to affect 69 00:02:39,294 --> 00:02:40,740 Erik Freeman: everybody and every industry. 70 00:02:40,760 --> 00:02:43,452 Erik Freeman: So if there was a time to come and come 71 00:02:43,492 --> 00:02:44,336 Erik Freeman: together as restaurant owners, as 72 00:02:44,356 --> 00:02:46,725 Erik Freeman: entrepreneurs, it would be now. 73 00:02:47,447 --> 00:02:50,957 Mark Haney: Okay, so tell us about this AB 1228. 74 00:02:51,017 --> 00:02:51,619 Mark Haney: It's a minimum wage increase. 75 00:02:51,639 --> 00:02:53,964 Mark Haney: Maybe just give us a little bit of the 76 00:02:54,085 --> 00:02:58,515 Mark Haney: backdrop of what it is and why some people 77 00:02:58,976 --> 00:03:03,632 Mark Haney: want it and then why it really is not good 78 00:03:03,712 --> 00:03:04,074 Mark Haney: for their. 79 00:03:04,094 --> 00:03:04,959 Mark Haney: You know, it's not really not good for 80 00:03:04,979 --> 00:03:06,222 Mark Haney: America, Really not good for America. 81 00:03:06,964 --> 00:03:07,184 Erik Freeman: Sure. 82 00:03:07,284 --> 00:03:10,170 Erik Freeman: So for the last several years California 83 00:03:10,271 --> 00:03:12,723 Erik Freeman: has been working on increasing minimum 84 00:03:12,743 --> 00:03:13,125 Erik Freeman: wages. 85 00:03:13,928 --> 00:03:15,493 Erik Freeman: We've had to do pretty significant 86 00:03:15,915 --> 00:03:16,517 Erik Freeman: increases. 87 00:03:16,577 --> 00:03:18,302 Erik Freeman: They've had a staggered approach this was 88 00:03:18,342 --> 00:03:21,449 Erik Freeman: about three or four years ago to get to $15 89 00:03:21,930 --> 00:03:22,551 Erik Freeman: minimum wage. 90 00:03:23,052 --> 00:03:23,533 Mark Haney: What is it now? 91 00:03:23,613 --> 00:03:24,255 Mark Haney: $15. 92 00:03:25,261 --> 00:03:27,346 Erik Freeman: It's $1550 now. 93 00:03:27,407 --> 00:03:29,192 Erik Freeman: Now the staggered approach was that they 94 00:03:29,232 --> 00:03:32,461 Erik Freeman: were accelerating the wage increases every 95 00:03:32,521 --> 00:03:36,110 Erik Freeman: year for larger employers in the restaurant 96 00:03:36,451 --> 00:03:39,700 Erik Freeman: segment versus smaller employers, in order 97 00:03:39,720 --> 00:03:41,605 Erik Freeman: to get everybody up to that level where 98 00:03:41,645 --> 00:03:45,777 Erik Freeman: everybody's at $1550 now and actually just 99 00:03:45,817 --> 00:03:47,823 Erik Freeman: coming up in January it's going to be $16 100 00:03:47,843 --> 00:03:48,104 Erik Freeman: an hour. 101 00:03:49,208 --> 00:03:52,337 Erik Freeman: The struggle has been that every, first of 102 00:03:52,377 --> 00:03:54,004 Erik Freeman: all, restaurant owners don't like to 103 00:03:54,044 --> 00:03:54,869 Erik Freeman: increase prices. 104 00:03:54,969 --> 00:03:56,578 Erik Freeman: It's always something that gives them a lot 105 00:03:56,618 --> 00:03:57,020 Erik Freeman: of heartburn. 106 00:03:57,924 --> 00:03:59,209 Erik Freeman: They care about their customers. 107 00:03:59,269 --> 00:04:00,655 Erik Freeman: They don't like losing customers. 108 00:04:00,735 --> 00:04:03,145 Erik Freeman: I can say for gym boys you know, when we 109 00:04:03,185 --> 00:04:05,395 Erik Freeman: look at the data, every time we do a price 110 00:04:05,455 --> 00:04:06,480 Erik Freeman: increase, you know and over the last 111 00:04:07,201 --> 00:04:08,985 Erik Freeman: several years we've had to do pretty 112 00:04:09,025 --> 00:04:12,192 Erik Freeman: significant increases three, four, 5%, and 113 00:04:12,232 --> 00:04:15,771 Erik Freeman: sometimes some restaurants have had to do 114 00:04:15,908 --> 00:04:17,936 Erik Freeman: it twice a year you lose customers. 115 00:04:18,073 --> 00:04:20,645 Erik Freeman: We've lost about three to four percent. 116 00:04:20,765 --> 00:04:21,007 Erik Freeman: You know. 117 00:04:21,067 --> 00:04:23,197 Erik Freeman: Every year that we do an increase, we lose 118 00:04:23,217 --> 00:04:24,943 Erik Freeman: about three to four percent of customers. 119 00:04:25,003 --> 00:04:26,967 Erik Freeman: So it's a legitimate worry. 120 00:04:27,027 --> 00:04:28,792 Erik Freeman: It's a legitimate concern that restaurant 121 00:04:28,852 --> 00:04:31,001 Erik Freeman: owners have Coming up. 122 00:04:31,222 --> 00:04:34,388 Erik Freeman: This bill that we're talking about is a 123 00:04:34,468 --> 00:04:37,254 Erik Freeman: minimum wage increase to $20 an hour. 124 00:04:38,060 --> 00:04:40,144 Mark Haney: Jump from $1550 to $20?. 125 00:04:40,164 --> 00:04:43,491 Erik Freeman: Well, starting January 1st of 2024, is 126 00:04:43,511 --> 00:04:46,302 Erik Freeman: going to be $16 an hour, and then three 127 00:04:46,362 --> 00:04:48,907 Erik Freeman: months later, in April, or four months 128 00:04:48,928 --> 00:04:51,553 Erik Freeman: later in April, it's going to be $20 an 129 00:04:51,633 --> 00:04:51,753 Erik Freeman: hour. 130 00:04:52,220 --> 00:04:55,767 Erik Freeman: Now, this is for locations, this is for 131 00:04:55,847 --> 00:04:59,253 Erik Freeman: brands that have stores nationwide of over 132 00:04:59,293 --> 00:05:02,705 Erik Freeman: 60 locations, and it's focused on limited 133 00:05:02,745 --> 00:05:03,126 Erik Freeman: service. 134 00:05:03,768 --> 00:05:05,792 Erik Freeman: With that being said, though, don't think 135 00:05:05,892 --> 00:05:08,367 Erik Freeman: that it won't affect you, you know, or 136 00:05:08,528 --> 00:05:11,057 Erik Freeman: anyone, and every industry is going to be 137 00:05:11,097 --> 00:05:11,680 Erik Freeman: touched by this. 138 00:05:12,382 --> 00:05:14,910 Mark Haney: So is this geared toward restaurants or is 139 00:05:14,950 --> 00:05:17,338 Mark Haney: it geared toward all retail with locations 140 00:05:17,378 --> 00:05:17,880 Mark Haney: over 60? 141 00:05:18,963 --> 00:05:21,169 Erik Freeman: So it's limited service, so it's really 142 00:05:21,630 --> 00:05:22,853 Erik Freeman: geared towards fast food. 143 00:05:24,097 --> 00:05:26,004 Erik Freeman: We actually don't have more than 60 144 00:05:26,044 --> 00:05:28,134 Erik Freeman: locations, so we don't fall into that. 145 00:05:29,620 --> 00:05:31,526 Erik Freeman: So, starting in April, just a little bit 146 00:05:31,546 --> 00:05:32,850 Erik Freeman: more background on the detail here. 147 00:05:32,890 --> 00:05:34,682 Erik Freeman: Starting April, it's going to increase to 148 00:05:34,702 --> 00:05:35,825 Erik Freeman: $20 an hour. 149 00:05:37,227 --> 00:05:40,393 Erik Freeman: It also comes with a like a council that's 150 00:05:40,413 --> 00:05:42,965 Erik Freeman: been formed, and so there's going to be two 151 00:05:43,507 --> 00:05:46,074 Erik Freeman: representatives who are worker. 152 00:05:46,936 --> 00:05:48,220 Erik Freeman: They're they're restaurant workers. 153 00:05:48,320 --> 00:05:50,265 Erik Freeman: They represent the restaurant workers. 154 00:05:50,666 --> 00:05:52,310 Erik Freeman: There will be two people who are restaurant 155 00:05:52,411 --> 00:05:52,712 Erik Freeman: owners. 156 00:05:53,140 --> 00:05:54,543 Erik Freeman: There's going to be two people who 157 00:05:55,064 --> 00:05:58,272 Erik Freeman: represent the the industry in general. 158 00:05:58,432 --> 00:06:00,042 Erik Freeman: There's going to be two people who are 159 00:06:02,306 --> 00:06:04,250 Erik Freeman: restaurant worker advocates, and then 160 00:06:04,270 --> 00:06:06,294 Erik Freeman: there's going to be one person that is 161 00:06:06,980 --> 00:06:08,804 Erik Freeman: unaffiliated with the industry at all. 162 00:06:10,007 --> 00:06:11,770 Erik Freeman: The idea is for this council to come 163 00:06:11,790 --> 00:06:13,981 Erik Freeman: together to discuss next steps. 164 00:06:14,903 --> 00:06:17,989 Erik Freeman: They will, as of January 1st of 2025, 165 00:06:18,530 --> 00:06:20,994 Erik Freeman: they'll have the authority and the ability 166 00:06:21,054 --> 00:06:24,847 Erik Freeman: to unilaterally raise minimum wages after 167 00:06:24,867 --> 00:06:25,067 Erik Freeman: that. 168 00:06:25,408 --> 00:06:27,132 Mark Haney: So these seven people we're talking about 169 00:06:27,192 --> 00:06:28,843 Mark Haney: seven people, is that what it is? 170 00:06:28,943 --> 00:06:32,170 Mark Haney: And and they will control minimum wage for 171 00:06:32,691 --> 00:06:33,814 Mark Haney: the fast food industry. 172 00:06:33,960 --> 00:06:34,924 Erik Freeman: For California. 173 00:06:35,004 --> 00:06:37,433 Erik Freeman: Yes, this is just a California rule. 174 00:06:37,574 --> 00:06:39,340 Erik Freeman: This is just specific to California. 175 00:06:39,440 --> 00:06:42,607 Mark Haney: But seven people get to run the show, and 176 00:06:42,707 --> 00:06:45,613 Mark Haney: well, I mean, that's odd. 177 00:06:46,060 --> 00:06:46,201 Erik Freeman: It's. 178 00:06:47,184 --> 00:06:49,190 Erik Freeman: It has been and now this has been in the 179 00:06:49,250 --> 00:06:50,133 Erik Freeman: works for a while. 180 00:06:50,333 --> 00:06:54,484 Erik Freeman: It got slammed down about a year ago, but 181 00:06:54,544 --> 00:06:56,107 Erik Freeman: it's really just been a push and pull 182 00:06:56,167 --> 00:06:59,753 Erik Freeman: method for a tug of war really for about a 183 00:06:59,793 --> 00:06:59,954 Erik Freeman: year. 184 00:07:00,560 --> 00:07:02,766 Erik Freeman: This one came through and I think a lot of 185 00:07:02,827 --> 00:07:04,712 Erik Freeman: restaurant owners were caught off guard 186 00:07:05,380 --> 00:07:07,225 Erik Freeman: didn't necessarily, and you know it's been, 187 00:07:07,486 --> 00:07:09,271 Erik Freeman: it's been busy, so not everybody were able 188 00:07:09,331 --> 00:07:12,247 Erik Freeman: to get on board and speak their mind and be 189 00:07:12,287 --> 00:07:13,009 Erik Freeman: able to stop this. 190 00:07:13,049 --> 00:07:14,032 Erik Freeman: So it's in play now. 191 00:07:14,241 --> 00:07:14,482 Mark Haney: Okay. 192 00:07:14,663 --> 00:07:15,388 Mark Haney: So what's happening? 193 00:07:15,428 --> 00:07:16,615 Mark Haney: There's no changing it. 194 00:07:16,655 --> 00:07:17,380 Mark Haney: There's not really a. 195 00:07:18,524 --> 00:07:20,573 Mark Haney: It's not in the process of being reversed, 196 00:07:20,693 --> 00:07:22,199 Mark Haney: it's it's here Now, what are we going to do 197 00:07:22,219 --> 00:07:22,440 Mark Haney: about it? 198 00:07:22,881 --> 00:07:23,883 Erik Freeman: Correct, that's really what the 199 00:07:23,923 --> 00:07:24,966 Erik Freeman: conversation is now. 200 00:07:25,687 --> 00:07:26,870 Erik Freeman: Could people get together? 201 00:07:27,071 --> 00:07:29,245 Erik Freeman: Sure, at this point, I think it's going to 202 00:07:29,265 --> 00:07:31,294 Erik Freeman: be more productive to talk about how do you 203 00:07:31,636 --> 00:07:33,683 Erik Freeman: address this, how do you get past this, how 204 00:07:33,723 --> 00:07:36,269 Erik Freeman: do we come together and and and come up 205 00:07:36,289 --> 00:07:40,543 Erik Freeman: with ways to to tackle this In January 2025, 206 00:07:40,603 --> 00:07:43,149 Erik Freeman: from that point forward, the count, the 207 00:07:43,189 --> 00:07:46,302 Erik Freeman: council, has the ability to raise prices 208 00:07:46,482 --> 00:07:47,124 Erik Freeman: unilaterally. 209 00:07:47,745 --> 00:07:50,110 Erik Freeman: They can pick which counties they'd like to 210 00:07:50,170 --> 00:07:51,994 Erik Freeman: raise the minimum wage. 211 00:07:53,180 --> 00:07:56,931 Erik Freeman: They cannot exceed 3.5%, so there is some 212 00:07:57,352 --> 00:07:58,355 Erik Freeman: what of a ceiling there. 213 00:07:58,957 --> 00:08:00,802 Erik Freeman: But I want to make sure that this is clear 214 00:08:00,962 --> 00:08:04,128 Erik Freeman: A $20 minimum wage from where we are right 215 00:08:04,188 --> 00:08:08,001 Erik Freeman: now is a 25% increase to labor costs, and 216 00:08:08,021 --> 00:08:08,742 Erik Freeman: that's minimum. 217 00:08:09,243 --> 00:08:11,028 Erik Freeman: So, even though they're going to limit this, 218 00:08:11,248 --> 00:08:15,266 Erik Freeman: you know, in 2025, it doesn't really matter 219 00:08:15,306 --> 00:08:18,295 Erik Freeman: that much because it's already gone up 25%. 220 00:08:18,636 --> 00:08:21,624 Mark Haney: Right, you're talking about, yeah, 3%, 3.5% 221 00:08:21,664 --> 00:08:23,790 Mark Haney: per year on the $20 an hour. 222 00:08:25,454 --> 00:08:27,258 Mark Haney: Yeah, okay, so this is interesting. 223 00:08:27,278 --> 00:08:29,025 Mark Haney: So I think my audience knows is we? 224 00:08:29,125 --> 00:08:31,034 Mark Haney: We don't really do a political show here 225 00:08:31,075 --> 00:08:32,721 Mark Haney: and I don't sit here and get on one side of 226 00:08:32,761 --> 00:08:34,927 Mark Haney: regulation or the other, because a lot of 227 00:08:34,947 --> 00:08:36,891 Mark Haney: different viewpoints and it's a lot easier 228 00:08:36,992 --> 00:08:39,432 Mark Haney: to kind of answer the question what are you 229 00:08:39,452 --> 00:08:40,076 Mark Haney: going to do about it? 230 00:08:40,096 --> 00:08:41,041 Mark Haney: Right, what are you going to do with what 231 00:08:41,061 --> 00:08:41,602 Mark Haney: you got? 232 00:08:41,703 --> 00:08:42,846 Mark Haney: Now the government put it's another 233 00:08:42,866 --> 00:08:44,691 Mark Haney: restriction on us or a regulation on us. 234 00:08:44,900 --> 00:08:46,486 Mark Haney: It's already a lot of regulation we all 235 00:08:46,526 --> 00:08:49,618 Mark Haney: have to, you know, work to our advantage or 236 00:08:49,919 --> 00:08:51,463 Mark Haney: keep it from hurting us or whatever. 237 00:08:52,446 --> 00:08:54,150 Mark Haney: But maybe we'll talk about the other side 238 00:08:54,190 --> 00:08:56,563 Mark Haney: for a second before we talk about, like, 239 00:08:56,623 --> 00:08:58,008 Mark Haney: how are we supposed to deal with it? 240 00:08:58,710 --> 00:09:01,660 Mark Haney: Why would a lot of people think it's a good 241 00:09:01,800 --> 00:09:05,891 Mark Haney: idea to raise let's put our hat on of the 242 00:09:06,432 --> 00:09:08,939 Mark Haney: of the people that are advocates, have been 243 00:09:09,199 --> 00:09:10,564 Mark Haney: advocates for this, because obviously 244 00:09:11,025 --> 00:09:13,654 Mark Haney: they've had enough persuasion or persuasive 245 00:09:13,674 --> 00:09:16,321 Mark Haney: powers to to get this across the finish 246 00:09:16,362 --> 00:09:17,884 Mark Haney: line and make it and put it into law. 247 00:09:18,646 --> 00:09:23,195 Mark Haney: Why, what's their argument that got us to 248 00:09:23,900 --> 00:09:26,165 Mark Haney: want to raise it so fast? 249 00:09:26,185 --> 00:09:27,127 Mark Haney: What's the other side? 250 00:09:27,749 --> 00:09:31,261 Erik Freeman: Yeah, I'd say mostly it has to do with a 251 00:09:31,321 --> 00:09:31,884 Erik Freeman: living wage. 252 00:09:32,185 --> 00:09:34,194 Erik Freeman: So, you know, when it comes to families, 253 00:09:34,255 --> 00:09:36,923 Erik Freeman: when it comes to, you know of hardworking 254 00:09:36,983 --> 00:09:39,829 Erik Freeman: families that are solely working in the 255 00:09:39,869 --> 00:09:42,701 Erik Freeman: restaurant industry or solely looking for a 256 00:09:42,781 --> 00:09:45,109 Erik Freeman: restaurant and they have a family of two, 257 00:09:45,290 --> 00:09:47,136 Erik Freeman: or themselves or a family, afford to feed. 258 00:09:47,578 --> 00:09:50,264 Erik Freeman: The amount of wages that they're earning 259 00:09:50,765 --> 00:09:54,452 Erik Freeman: don't meet the the expenses that they have 260 00:09:54,472 --> 00:09:57,503 Erik Freeman: in their household, and so the idea of the 261 00:09:57,543 --> 00:10:01,671 Erik Freeman: wage increase is to is to is to guarantee a 262 00:10:01,751 --> 00:10:04,142 Erik Freeman: minimum amount that everybody makes so that 263 00:10:04,202 --> 00:10:07,031 Erik Freeman: they can afford the living wages. 264 00:10:07,533 --> 00:10:08,095 Mark Haney: Yeah, okay. 265 00:10:08,115 --> 00:10:09,921 Mark Haney: So I mean there's so many ways to take this 266 00:10:09,961 --> 00:10:12,226 Mark Haney: conversation, but I just want to make sure 267 00:10:12,266 --> 00:10:15,733 Mark Haney: we have both sides of the, of the whatever 268 00:10:15,960 --> 00:10:17,526 Mark Haney: we'll call it, the argument, if you will, 269 00:10:17,827 --> 00:10:21,019 Mark Haney: or the opinions of both sides, because you 270 00:10:21,039 --> 00:10:22,364 Mark Haney: know, if you're, if you're working at a 271 00:10:22,404 --> 00:10:25,716 Mark Haney: fast food location, you may view this as a 272 00:10:25,797 --> 00:10:26,238 Mark Haney: good thing. 273 00:10:26,399 --> 00:10:30,668 Mark Haney: I don't know, or you may not, but what ends 274 00:10:30,748 --> 00:10:32,932 Mark Haney: up happening for somebody who owns a 275 00:10:33,012 --> 00:10:35,303 Mark Haney: business, or probably for for any of us, 276 00:10:35,363 --> 00:10:38,656 Mark Haney: whether you're in fast food or not, if this 277 00:10:38,696 --> 00:10:40,463 Mark Haney: group of people is getting paid 20 bucks an 278 00:10:40,604 --> 00:10:42,030 Mark Haney: hour and this group of people is getting 279 00:10:42,090 --> 00:10:45,482 Mark Haney: paid it's called 1550 an hour, or maybe 280 00:10:45,542 --> 00:10:48,770 Mark Haney: even 20 bucks an hour over here it's going 281 00:10:48,790 --> 00:10:51,422 Mark Haney: to cause everybody to kind of have to 282 00:10:51,482 --> 00:10:53,692 Mark Haney: ratchet up their wages to stay market 283 00:10:53,712 --> 00:10:54,355 Mark Haney: competitive. 284 00:10:54,676 --> 00:10:55,721 Mark Haney: Everybody's going to have to raise their 285 00:10:55,761 --> 00:10:58,631 Mark Haney: wages a little bit, or maybe the full 25%, 286 00:10:59,052 --> 00:11:01,079 Mark Haney: just to kind of keep with market wages, 287 00:11:01,099 --> 00:11:01,340 Mark Haney: right. 288 00:11:01,480 --> 00:11:04,330 Mark Haney: So everybody's wages are going to go up a 289 00:11:04,431 --> 00:11:05,494 Mark Haney: little bit or some. 290 00:11:06,156 --> 00:11:07,501 Mark Haney: And is that a good thing or a bad thing? 291 00:11:07,762 --> 00:11:10,411 Mark Haney: I mean, it just it's a, it's an artificial 292 00:11:10,712 --> 00:11:12,860 Mark Haney: effect on the market and we're all going to 293 00:11:12,880 --> 00:11:13,663 Mark Haney: have to make adjustments. 294 00:11:14,206 --> 00:11:15,250 Erik Freeman: I think that's the biggest fear. 295 00:11:15,632 --> 00:11:17,420 Erik Freeman: Is you know at some point and I can say 296 00:11:17,500 --> 00:11:20,005 Erik Freeman: even for for our business at some point, 297 00:11:20,466 --> 00:11:24,133 Erik Freeman: the perception of what you have to charge 298 00:11:24,373 --> 00:11:27,666 Erik Freeman: for your food in order to make these, you 299 00:11:27,706 --> 00:11:29,731 Erik Freeman: know, these, these inflationary pressures 300 00:11:29,891 --> 00:11:32,565 Erik Freeman: or or some of these increases in wages at 301 00:11:32,645 --> 00:11:33,267 Erik Freeman: some point? 302 00:11:33,327 --> 00:11:36,275 Erik Freeman: The question is is a customer willing to 303 00:11:36,336 --> 00:11:36,757 Erik Freeman: pay that? 304 00:11:37,198 --> 00:11:39,965 Erik Freeman: So for us, in order to, let's say, tackle 305 00:11:40,025 --> 00:11:41,589 Erik Freeman: this right and every year we've had to 306 00:11:41,669 --> 00:11:44,606 Erik Freeman: raise our ground beef taco right to to 307 00:11:44,686 --> 00:11:46,495 Erik Freeman: every year to get to a how much is a ground 308 00:11:46,515 --> 00:11:46,676 Erik Freeman: beef? 309 00:11:46,716 --> 00:11:48,905 Erik Freeman: taco these days, it's currently 295 for one 310 00:11:48,925 --> 00:11:50,049 Erik Freeman: taco for one taco. 311 00:11:50,431 --> 00:11:52,458 Mark Haney: And already feeling the inflation, I mean 312 00:11:52,478 --> 00:11:54,166 Mark Haney: I'm not saying that's an unfair price, 313 00:11:54,186 --> 00:11:54,527 Mark Haney: that's a. 314 00:11:54,568 --> 00:11:56,417 Mark Haney: That's an affordable meal. 315 00:11:56,457 --> 00:11:58,343 Mark Haney: You know, you get a couple of tacos and a 316 00:11:58,424 --> 00:11:59,486 Mark Haney: drink and maybe something else. 317 00:11:59,547 --> 00:12:00,449 Mark Haney: It's like 10 bucks. 318 00:12:00,750 --> 00:12:01,732 Mark Haney: It's still an affordable meal. 319 00:12:02,520 --> 00:12:04,064 Erik Freeman: And, and the biggest fear I think for 320 00:12:04,124 --> 00:12:06,289 Erik Freeman: restaurant owners is at what point does a 321 00:12:06,330 --> 00:12:09,809 Erik Freeman: customer say I'm unwilling to pay this for 322 00:12:09,889 --> 00:12:10,431 Erik Freeman: this food? 323 00:12:10,592 --> 00:12:12,740 Erik Freeman: You know, whatever it it might be, if it's 324 00:12:12,760 --> 00:12:15,025 Erik Freeman: a gym boys taco, if it, if it turns into 325 00:12:15,065 --> 00:12:18,352 Erik Freeman: being $4 for one ground beef taco, Okay, 326 00:12:18,412 --> 00:12:21,809 Erik Freeman: yeah, we're certainly now addressing the 327 00:12:21,829 --> 00:12:23,515 Erik Freeman: minimum wage, and that's what we need in 328 00:12:23,555 --> 00:12:25,382 Erik Freeman: order to do minimum wage, and I'm 329 00:12:25,422 --> 00:12:26,989 Erik Freeman: exaggerating a little bit, but you can see 330 00:12:27,049 --> 00:12:28,134 Erik Freeman: where this could go. 331 00:12:28,576 --> 00:12:30,683 Erik Freeman: Certainly, over the next two, three years, 332 00:12:31,204 --> 00:12:33,248 Erik Freeman: prices will have to continue to increase, 333 00:12:33,388 --> 00:12:36,061 Erik Freeman: and so the the fear and concern is is 334 00:12:36,101 --> 00:12:38,969 Erik Freeman: someone willing to pay, you know, $4 for a 335 00:12:39,009 --> 00:12:39,771 Erik Freeman: ground beef taco? 336 00:12:40,120 --> 00:12:42,808 Mark Haney: Well, it's an interesting time to do it 337 00:12:42,888 --> 00:12:45,916 Mark Haney: when we've printed all this money, right, 338 00:12:46,117 --> 00:12:50,007 Mark Haney: inflationary type of decision to print a 339 00:12:50,027 --> 00:12:53,515 Mark Haney: bunch of money we we have, you know, our 340 00:12:53,615 --> 00:12:56,121 Mark Haney: debt and interest rates have gone up, so 341 00:12:56,302 --> 00:12:58,326 Mark Haney: our interest payments on the national debt 342 00:12:58,346 --> 00:12:59,749 Mark Haney: and all that are going up. 343 00:12:59,789 --> 00:13:03,888 Mark Haney: So all of that is driving a bunch of other 344 00:13:03,948 --> 00:13:05,835 Mark Haney: inflation, right, De-coupling from China 345 00:13:05,875 --> 00:13:06,658 Mark Haney: and on and on and on. 346 00:13:06,698 --> 00:13:09,207 Mark Haney: There's a lot of inflationary sort of 347 00:13:09,287 --> 00:13:12,156 Mark Haney: pressure out there and everybody realizes 348 00:13:12,276 --> 00:13:12,497 Mark Haney: that. 349 00:13:13,099 --> 00:13:14,763 Mark Haney: You know, price at the pump, that we have 350 00:13:14,803 --> 00:13:15,945 Mark Haney: inflation, right, we do. 351 00:13:15,986 --> 00:13:16,206 Mark Haney: We've. 352 00:13:16,908 --> 00:13:19,253 Mark Haney: There's a lot more money chasing, you know, 353 00:13:19,380 --> 00:13:21,846 Mark Haney: chasing the goods, and it's causing stuff 354 00:13:21,866 --> 00:13:22,928 Mark Haney: to go up in price. 355 00:13:23,489 --> 00:13:28,701 Mark Haney: And so now the most affordable meal that we 356 00:13:28,741 --> 00:13:30,667 Mark Haney: might want to buy, right, it's cheaper to 357 00:13:30,727 --> 00:13:33,938 Mark Haney: go buy have dinner at gym boys than to go 358 00:13:33,998 --> 00:13:35,524 Mark Haney: go to the grocery store and buy some 359 00:13:35,564 --> 00:13:36,568 Mark Haney: groceries and make it. 360 00:13:37,150 --> 00:13:39,519 Mark Haney: And now you're taking the most affordable 361 00:13:39,579 --> 00:13:41,945 Mark Haney: meal in the world and you're causing that 362 00:13:42,025 --> 00:13:42,927 Mark Haney: to go up too. 363 00:13:43,048 --> 00:13:44,170 Mark Haney: It's like is that good? 364 00:13:44,231 --> 00:13:45,032 Mark Haney: Is it good timing? 365 00:13:45,113 --> 00:13:46,503 Mark Haney: I mean, my goodness. 366 00:13:46,844 --> 00:13:48,913 Erik Freeman: Well, and in addition to this and I think 367 00:13:48,953 --> 00:13:50,700 Erik Freeman: this is maybe one thing that's good to 368 00:13:50,820 --> 00:13:52,764 Erik Freeman: address as well is that, even though this 369 00:13:52,825 --> 00:13:55,831 Erik Freeman: is targeted towards brands that have 60 370 00:13:55,891 --> 00:13:59,046 Erik Freeman: locations or more, that doesn't mean that 371 00:13:59,167 --> 00:14:00,753 Erik Freeman: it's going to radically change. 372 00:14:00,913 --> 00:14:02,700 Erik Freeman: It won't radically change the industry. 373 00:14:02,820 --> 00:14:05,850 Erik Freeman: It will because everyone is going to demand 374 00:14:06,050 --> 00:14:07,796 Erik Freeman: that $20 minimum wage. 375 00:14:07,876 --> 00:14:09,822 Erik Freeman: There's only so many jobs that are going to 376 00:14:09,842 --> 00:14:12,248 Erik Freeman: be available for the bigger brands, so to 377 00:14:12,288 --> 00:14:15,315 Erik Freeman: speak, so all the customers or, excuse me, 378 00:14:15,536 --> 00:14:18,001 Erik Freeman: all the laborers and employees are going to 379 00:14:18,141 --> 00:14:19,504 Erik Freeman: want that same way. 380 00:14:19,650 --> 00:14:23,119 Mark Haney: They want a $4.50 increase or a pro-rata 381 00:14:23,160 --> 00:14:24,022 Mark Haney: percentage increase. 382 00:14:24,230 --> 00:14:27,239 Erik Freeman: Who this ends up actually hurting the most 383 00:14:27,580 --> 00:14:30,389 Erik Freeman: are the small businesses, not the large 384 00:14:30,429 --> 00:14:31,653 Erik Freeman: businesses, even though that's what the 385 00:14:31,693 --> 00:14:32,515 Erik Freeman: bill is targeting. 386 00:14:32,696 --> 00:14:34,762 Erik Freeman: It's targeting larger guys, but who it 387 00:14:34,842 --> 00:14:36,712 Erik Freeman: hurts the most are the smaller guys, 388 00:14:36,772 --> 00:14:40,400 Erik Freeman: because their margins are as thin as it is. 389 00:14:40,761 --> 00:14:43,133 Erik Freeman: They don't have the same luxury buying 390 00:14:43,173 --> 00:14:43,694 Erik Freeman: capacity. 391 00:14:43,714 --> 00:14:45,338 Erik Freeman: They don't have the same buying power or 392 00:14:45,399 --> 00:14:47,654 Erik Freeman: leveraging that bigger brands are able to 393 00:14:47,761 --> 00:14:47,922 Erik Freeman: do. 394 00:14:48,029 --> 00:14:50,223 Erik Freeman: So, while it might hurt the bigger brands, 395 00:14:50,331 --> 00:14:52,163 Erik Freeman: ultimately it's going to really hurt the 396 00:14:52,203 --> 00:14:52,724 Erik Freeman: smaller guys. 397 00:14:53,224 --> 00:14:54,706 Mark Haney: Yeah, and I think ultimately it hurts the 398 00:14:54,746 --> 00:14:57,330 Mark Haney: consumer because it's one. 399 00:14:57,350 --> 00:15:00,238 Mark Haney: You know, I can barely make my rent payment, 400 00:15:00,258 --> 00:15:03,567 Mark Haney: I can barely make my house payment and now 401 00:15:04,108 --> 00:15:04,891 Mark Haney: I got to put food on the. 402 00:15:04,951 --> 00:15:06,496 Mark Haney: I mean, food is a main thing. 403 00:15:06,596 --> 00:15:09,927 Mark Haney: So an affordable meal is a fast food meal. 404 00:15:10,007 --> 00:15:12,433 Mark Haney: And today, you know, when I was a kid, you 405 00:15:12,454 --> 00:15:13,295 Mark Haney: know, go get fast food. 406 00:15:13,336 --> 00:15:15,541 Mark Haney: Maybe that was a luxury or whatever. 407 00:15:15,561 --> 00:15:17,817 Mark Haney: That was like a maybe a more expensive meal 408 00:15:17,857 --> 00:15:19,647 Mark Haney: than my mom making macaroni and tomatoes 409 00:15:19,687 --> 00:15:20,951 Mark Haney: and the crap that we ate around our house. 410 00:15:22,294 --> 00:15:24,779 Mark Haney: But now that's a cheap way. 411 00:15:24,839 --> 00:15:26,443 Mark Haney: You know that's a cheap way to go out to 412 00:15:26,483 --> 00:15:29,396 Mark Haney: dinner or to have a meal is to have a, you 413 00:15:29,416 --> 00:15:30,278 Mark Haney: know, some fast food. 414 00:15:30,599 --> 00:15:31,902 Mark Haney: Yeah, I mean, it's on the cheaper side. 415 00:15:32,230 --> 00:15:34,016 Erik Freeman: Yeah, and now and now that's not the case. 416 00:15:34,116 --> 00:15:37,928 Erik Freeman: Now it is with, like I said, with this 417 00:15:38,008 --> 00:15:38,630 Erik Freeman: labor increase. 418 00:15:38,811 --> 00:15:41,761 Erik Freeman: We are looking at a 25% increase and again 419 00:15:41,801 --> 00:15:43,748 Erik Freeman: just to put that in perspective, that's 420 00:15:43,828 --> 00:15:44,731 Erik Freeman: never occurred before. 421 00:15:44,751 --> 00:15:49,083 Erik Freeman: There's never been a $4 an hour increase in 422 00:15:49,123 --> 00:15:49,965 Erik Freeman: a single year. 423 00:15:50,547 --> 00:15:51,590 Erik Freeman: I think in the hit, certainly in 424 00:15:51,750 --> 00:15:53,495 Erik Freeman: California's history, I believe nationwide 425 00:15:53,655 --> 00:15:53,916 Erik Freeman: it is. 426 00:15:54,116 --> 00:15:55,099 Erik Freeman: It is unprecedented. 427 00:15:55,339 --> 00:15:57,413 Erik Freeman: And yeah, to come out and you know, now of 428 00:15:57,473 --> 00:15:59,762 Erik Freeman: all time, it will certainly put a strain on 429 00:15:59,822 --> 00:16:00,103 Erik Freeman: things. 430 00:16:00,926 --> 00:16:02,150 Erik Freeman: The big question I think a lot of 431 00:16:02,190 --> 00:16:03,975 Erik Freeman: restaurant owners are going to have is how 432 00:16:04,015 --> 00:16:06,881 Erik Freeman: much of this can they pass along to the 433 00:16:06,921 --> 00:16:07,383 Erik Freeman: consumer? 434 00:16:07,590 --> 00:16:10,051 Erik Freeman: Usually, restaurant owners they pass the, 435 00:16:10,191 --> 00:16:12,530 Erik Freeman: they pass these, these costs on to the 436 00:16:12,670 --> 00:16:14,251 Erik Freeman: consumer, but not all of them. 437 00:16:14,332 --> 00:16:16,521 Erik Freeman: They always have to absorb a little bit of 438 00:16:16,601 --> 00:16:18,630 Erik Freeman: it and the question is how much of this can 439 00:16:18,770 --> 00:16:20,073 Erik Freeman: they really absorb this time? 440 00:16:20,614 --> 00:16:20,995 Mark Haney: Interesting. 441 00:16:21,095 --> 00:16:21,335 Mark Haney: Okay. 442 00:16:21,376 --> 00:16:25,063 Mark Haney: So now the other question is how can I 443 00:16:25,103 --> 00:16:28,715 Mark Haney: tweak my business to deal with this Right? 444 00:16:28,776 --> 00:16:31,581 Mark Haney: So can I turn my business into a luxury 445 00:16:31,621 --> 00:16:33,544 Mark Haney: product, luxury brand? 446 00:16:33,910 --> 00:16:36,521 Mark Haney: Can I automate and go lean and mean and 447 00:16:36,627 --> 00:16:38,619 Mark Haney: have this automated type, automated type 448 00:16:38,725 --> 00:16:38,865 Mark Haney: thing? 449 00:16:38,971 --> 00:16:39,951 Mark Haney: How are we going to? 450 00:16:40,132 --> 00:16:42,279 Mark Haney: What kind of changes are the smart guys 451 00:16:42,299 --> 00:16:42,700 Mark Haney: going to make? 452 00:16:43,543 --> 00:16:45,751 Erik Freeman: Yeah, so so a couple things there, and I'll 453 00:16:45,791 --> 00:16:49,499 Erik Freeman: start with this is this is a brand new bill. 454 00:16:49,559 --> 00:16:50,501 Erik Freeman: This is brand new. 455 00:16:50,701 --> 00:16:52,633 Erik Freeman: I mean, this is an active, ongoing 456 00:16:52,693 --> 00:16:53,497 Erik Freeman: conversation. 457 00:16:53,959 --> 00:16:55,486 Erik Freeman: I've had a lot of conversations with 458 00:16:55,526 --> 00:16:56,450 Erik Freeman: different restaurant owners. 459 00:16:56,630 --> 00:16:58,475 Erik Freeman: We are all actively talking about what we 460 00:16:58,515 --> 00:16:59,117 Erik Freeman: can do about this. 461 00:16:59,157 --> 00:17:01,231 Mark Haney: So we are still in the in the stages of 462 00:17:01,251 --> 00:17:03,356 Mark Haney: brainstorming, really trying to pick 463 00:17:03,376 --> 00:17:04,779 Mark Haney: yourself up off the floor. 464 00:17:04,819 --> 00:17:05,481 Mark Haney: Are you kidding me? 465 00:17:05,621 --> 00:17:06,263 Mark Haney: Oh, my god. 466 00:17:06,510 --> 00:17:10,080 Erik Freeman: But I will say, and that's why I feel that 467 00:17:10,922 --> 00:17:13,429 Erik Freeman: the biggest advice to all restaurant owners 468 00:17:13,530 --> 00:17:15,654 Erik Freeman: and to all business owners is to talk about 469 00:17:15,694 --> 00:17:15,875 Erik Freeman: this. 470 00:17:15,995 --> 00:17:18,581 Erik Freeman: Get together now, start collaborating now. 471 00:17:18,962 --> 00:17:22,860 Erik Freeman: It wouldn't hurt to start brainstorming 472 00:17:22,880 --> 00:17:24,666 Erik Freeman: with everybody that you can about what's 473 00:17:24,706 --> 00:17:26,572 Erik Freeman: coming and to start sharing this, because 474 00:17:26,733 --> 00:17:29,522 Erik Freeman: even if you do share, it's still going to 475 00:17:29,602 --> 00:17:30,967 Erik Freeman: be an effect on everyone. 476 00:17:31,248 --> 00:17:35,096 Mark Haney: Well, interesting, because, okay, so I want 477 00:17:35,136 --> 00:17:37,120 Mark Haney: to challenge this in a way that is 478 00:17:38,201 --> 00:17:40,311 Mark Haney: productive, I suppose, in terms of getting. 479 00:17:40,532 --> 00:17:44,904 Mark Haney: I'm all about collaboration and so and I 480 00:17:44,925 --> 00:17:46,690 Mark Haney: think, working together for solutions and 481 00:17:46,710 --> 00:17:47,251 Mark Haney: that kind of thing. 482 00:17:47,292 --> 00:17:49,478 Mark Haney: But you, in order to win, we need to be 483 00:17:49,498 --> 00:17:50,702 Mark Haney: differentiated, right? 484 00:17:50,803 --> 00:17:54,253 Mark Haney: So you, if you're the one that comes up 485 00:17:54,373 --> 00:17:58,162 Mark Haney: with the creative idea on how to battle 486 00:17:58,262 --> 00:18:01,651 Mark Haney: this, you want, might want, to be first to 487 00:18:01,671 --> 00:18:03,716 Mark Haney: market with it, and something like that. 488 00:18:03,776 --> 00:18:05,420 Mark Haney: Is there any kind of thought like that, in 489 00:18:05,440 --> 00:18:06,854 Mark Haney: terms of like, what are we going to do? 490 00:18:06,974 --> 00:18:08,863 Mark Haney: Oh, no, let's share our ideas and all go do 491 00:18:08,883 --> 00:18:09,446 Mark Haney: the same thing. 492 00:18:10,129 --> 00:18:11,956 Mark Haney: So there's that one challenge that I have. 493 00:18:12,016 --> 00:18:15,268 Mark Haney: My, my brain goes how do I turn this into 494 00:18:15,308 --> 00:18:15,890 Mark Haney: an advantage? 495 00:18:17,053 --> 00:18:18,918 Mark Haney: You know, as I mentioned, luxury brand, if 496 00:18:18,958 --> 00:18:22,889 Mark Haney: I can repackage my offering to appear to be 497 00:18:23,009 --> 00:18:25,618 Mark Haney: better or to be better, can I get more 498 00:18:25,658 --> 00:18:28,467 Mark Haney: margin and so on to make up for the you 499 00:18:28,508 --> 00:18:29,811 Mark Haney: know what the government's doing to me? 500 00:18:30,713 --> 00:18:32,616 Mark Haney: Or can I automate, or something like that? 501 00:18:34,138 --> 00:18:38,311 Mark Haney: And then I also wonder is there any risk of 502 00:18:38,732 --> 00:18:40,939 Mark Haney: being accused of colluding? 503 00:18:41,280 --> 00:18:43,827 Mark Haney: Because we're talking about price pricing, 504 00:18:43,867 --> 00:18:45,772 Mark Haney: right, and we know you can't get together 505 00:18:45,792 --> 00:18:46,574 Mark Haney: and all decide to. 506 00:18:47,175 --> 00:18:50,662 Mark Haney: You know, price fix tacos at, you know, at 507 00:18:50,682 --> 00:18:51,323 Mark Haney: a higher price. 508 00:18:51,871 --> 00:18:54,377 Mark Haney: And hey, I'll raise my tacos a dollar if 509 00:18:54,397 --> 00:18:55,239 Mark Haney: you do too right. 510 00:18:55,480 --> 00:18:58,092 Mark Haney: We can't do that kind of stuff, so makes me 511 00:18:58,132 --> 00:18:59,577 Mark Haney: kind of wonder about how to collaborate 512 00:18:59,658 --> 00:19:00,280 Mark Haney: effectively. 513 00:19:00,581 --> 00:19:03,191 Erik Freeman: Yeah, yeah, sure, so well, and I can. 514 00:19:03,852 --> 00:19:06,877 Erik Freeman: For me, it's easy for me to say listen. 515 00:19:06,917 --> 00:19:10,323 Erik Freeman: I think the questions are, you know, among 516 00:19:10,404 --> 00:19:12,675 Erik Freeman: everyone it's just trying to get an 517 00:19:12,755 --> 00:19:16,627 Erik Freeman: understanding of the need, the percentage 518 00:19:16,688 --> 00:19:17,069 Erik Freeman: increase. 519 00:19:17,109 --> 00:19:19,438 Erik Freeman: I don't think there's any way that all 520 00:19:19,518 --> 00:19:21,486 Erik Freeman: restaurants can get together for you know, 521 00:19:21,627 --> 00:19:22,410 Erik Freeman: and start colluding. 522 00:19:22,430 --> 00:19:25,658 Erik Freeman: I think collaboration is hey, you know, for 523 00:19:25,899 --> 00:19:29,107 Erik Freeman: us our challenge is do we increase prices 524 00:19:29,788 --> 00:19:32,115 Erik Freeman: once or three times in smaller increments? 525 00:19:32,175 --> 00:19:34,242 Erik Freeman: Those are strategies that I don't think 526 00:19:34,282 --> 00:19:37,152 Erik Freeman: have any bearing on what it will do to the 527 00:19:37,192 --> 00:19:38,558 Erik Freeman: market, but it's certainly something to 528 00:19:38,619 --> 00:19:41,190 Erik Freeman: share for for different owners of saying, 529 00:19:41,351 --> 00:19:43,698 Erik Freeman: hey, how do we effectively tackle this? 530 00:19:43,779 --> 00:19:46,869 Erik Freeman: Because for us our price increase need is 531 00:19:46,889 --> 00:19:48,756 Erik Freeman: going to be different than someone else's 532 00:19:48,816 --> 00:19:49,900 Erik Freeman: price increase need, right. 533 00:19:50,060 --> 00:19:52,710 Erik Freeman: So for someone else, for them just to be 534 00:19:52,870 --> 00:19:54,734 Erik Freeman: able to handle this, they might have to be 535 00:19:54,794 --> 00:19:58,101 Erik Freeman: able to raise it 15% on their menu prices 536 00:19:58,202 --> 00:20:00,334 Erik Freeman: versus another brand that only needs to go 537 00:20:00,394 --> 00:20:03,205 Erik Freeman: up five or six, you know, depending on the 538 00:20:03,265 --> 00:20:03,807 Erik Freeman: size of it. 539 00:20:03,908 --> 00:20:07,559 Erik Freeman: But I certainly think, talking about how 540 00:20:07,599 --> 00:20:10,627 Erik Freeman: that affects them, and I don't think, I 541 00:20:10,808 --> 00:20:12,252 Erik Freeman: certainly think that smaller restaurants 542 00:20:12,312 --> 00:20:15,903 Erik Freeman: don't have the tools that that other brands 543 00:20:15,983 --> 00:20:18,250 Erik Freeman: have to understand how much they may need 544 00:20:18,450 --> 00:20:19,434 Erik Freeman: to increase prices. 545 00:20:19,635 --> 00:20:21,944 Erik Freeman: I mean for them, they may be taking a stab 546 00:20:21,985 --> 00:20:23,631 Erik Freeman: at the dark and saying, oh, you know, I 547 00:20:23,672 --> 00:20:25,923 Erik Freeman: think I need to increase, you know $2 or $3. 548 00:20:25,964 --> 00:20:26,728 Erik Freeman: Well, that might you know. 549 00:20:26,748 --> 00:20:28,774 Erik Freeman: If it's on a really good item, that might 550 00:20:28,814 --> 00:20:30,277 Erik Freeman: be a 20% increase. 551 00:20:30,598 --> 00:20:32,021 Erik Freeman: You know, you may want to try different 552 00:20:32,041 --> 00:20:36,660 Erik Freeman: tactics that have a more smooth and 553 00:20:36,700 --> 00:20:39,748 Erik Freeman: transitional effect, so it doesn't impact 554 00:20:39,848 --> 00:20:40,570 Erik Freeman: everybody the same way. 555 00:20:40,590 --> 00:20:42,137 Erik Freeman: So those are tools, those are, those are 556 00:20:42,599 --> 00:20:43,101 Erik Freeman: strategies. 557 00:20:43,141 --> 00:20:44,728 Erik Freeman: I think that don't affect the price, 558 00:20:44,748 --> 00:20:45,813 Erik Freeman: colluding or anything like that. 559 00:20:45,873 --> 00:20:47,901 Erik Freeman: It's just strategies that people can share. 560 00:20:48,303 --> 00:20:50,472 Mark Haney: I wonder if there's any, and I'm not saying 561 00:20:50,492 --> 00:20:52,160 Mark Haney: this is a good long term strategy, because 562 00:20:52,200 --> 00:20:54,450 Mark Haney: the market ultimately I'm a market guy. 563 00:20:54,650 --> 00:20:56,335 Mark Haney: Right, I want the market to play out when 564 00:20:56,355 --> 00:20:58,320 Mark Haney: everything gets priced at and so on, and 565 00:20:58,360 --> 00:21:00,517 Mark Haney: the market will price out what you know. 566 00:21:00,757 --> 00:21:02,545 Mark Haney: This new regulation will happen and now the 567 00:21:02,585 --> 00:21:04,311 Mark Haney: market will price out what you got to pay 568 00:21:04,331 --> 00:21:08,218 Mark Haney: an employee to make a taco. 569 00:21:08,879 --> 00:21:11,123 Mark Haney: But is there any short term gain for the 570 00:21:11,164 --> 00:21:13,895 Mark Haney: people under 60 employee or, excuse me, 60 571 00:21:13,955 --> 00:21:17,784 Mark Haney: restaurants in that you could postpone your 572 00:21:18,285 --> 00:21:21,793 Mark Haney: wage hikes for some period of time and 573 00:21:22,334 --> 00:21:24,679 Mark Haney: potentially still inch up your margins at 574 00:21:24,719 --> 00:21:26,843 Mark Haney: the same rate as everybody else and maybe 575 00:21:27,390 --> 00:21:29,396 Mark Haney: gain the system for a little bit of time? 576 00:21:29,577 --> 00:21:31,302 Mark Haney: Ultimately, you're going to be underpaying. 577 00:21:31,810 --> 00:21:34,239 Mark Haney: You know you won't be paying market for 578 00:21:34,299 --> 00:21:36,949 Mark Haney: some period of time until you start having 579 00:21:37,009 --> 00:21:39,093 Mark Haney: culture issues in your with your staff. 580 00:21:39,228 --> 00:21:42,118 Mark Haney: But is there any short term good that you 581 00:21:42,254 --> 00:21:44,773 Mark Haney: can kind of eke out of it to take that 582 00:21:45,795 --> 00:21:47,499 Mark Haney: excess earnings, if you will it's hard to 583 00:21:47,539 --> 00:21:50,431 Mark Haney: say excess earnings, those earnings and and 584 00:21:50,471 --> 00:21:52,299 Mark Haney: kind of invest it into something? 585 00:21:52,339 --> 00:21:54,027 Mark Haney: I'm just wondering is there a way to sort 586 00:21:54,067 --> 00:21:56,694 Mark Haney: of play it that way and justify it, 587 00:21:57,255 --> 00:21:58,478 Mark Haney: especially to company your size? 588 00:21:59,059 --> 00:22:00,843 Erik Freeman: Certainly there's there's short term and 589 00:22:00,970 --> 00:22:02,716 Erik Freeman: long term, and within short term there's 590 00:22:02,836 --> 00:22:06,749 Erik Freeman: there's a whole decision tree of things to 591 00:22:06,789 --> 00:22:09,335 Erik Freeman: talk about, which I'll cover in one moment. 592 00:22:09,415 --> 00:22:11,419 Erik Freeman: The long term, I think, is that it 593 00:22:11,539 --> 00:22:14,913 Erik Freeman: ultimately will go automation, but the the 594 00:22:15,153 --> 00:22:18,520 Erik Freeman: the current issue is that when it comes to 595 00:22:19,001 --> 00:22:21,251 Erik Freeman: automation, it's not a one for one, number 596 00:22:21,431 --> 00:22:21,511 Erik Freeman: one. 597 00:22:21,571 --> 00:22:24,377 Erik Freeman: If you have a robot, let's say, that is 598 00:22:24,457 --> 00:22:27,724 Erik Freeman: doing a particular function, it's not going 599 00:22:27,764 --> 00:22:29,813 Erik Freeman: to replace one person. 600 00:22:30,274 --> 00:22:33,079 Erik Freeman: So if you have a robot, it might replace 601 00:22:33,380 --> 00:22:34,321 Erik Freeman: half of a person. 602 00:22:34,762 --> 00:22:35,844 Erik Freeman: So it it's. 603 00:22:36,330 --> 00:22:38,175 Erik Freeman: It's still something that you have to weigh 604 00:22:38,335 --> 00:22:40,120 Erik Freeman: out in terms of how much do you have to 605 00:22:40,180 --> 00:22:43,638 Erik Freeman: invest in getting this piece of equipment 606 00:22:43,678 --> 00:22:46,146 Erik Freeman: or this thing developed versus how much it 607 00:22:46,226 --> 00:22:49,578 Erik Freeman: really replaces in your store and the, of 608 00:22:49,618 --> 00:22:51,103 Erik Freeman: course, the challenge is that in the 609 00:22:51,163 --> 00:22:53,210 Erik Freeman: restaurant industry there's a lot of 610 00:22:53,250 --> 00:22:54,554 Erik Freeman: customization, you know. 611 00:22:54,654 --> 00:22:58,743 Erik Freeman: So for us, for example, to flip the taco, 612 00:22:58,964 --> 00:23:02,372 Erik Freeman: you know, is a pretty difficult task for a 613 00:23:02,513 --> 00:23:05,862 Erik Freeman: robot to perform or automated to perform, 614 00:23:06,423 --> 00:23:08,930 Erik Freeman: and it will take a lot of money to develop 615 00:23:09,111 --> 00:23:10,977 Erik Freeman: and it's really only for our benefit, 616 00:23:11,098 --> 00:23:13,928 Erik Freeman: whereas someone else are going to need an 617 00:23:13,988 --> 00:23:16,194 Erik Freeman: entirely different system set up for them. 618 00:23:16,374 --> 00:23:19,241 Erik Freeman: I know it's going to get there, but will it 619 00:23:19,281 --> 00:23:22,495 Erik Freeman: get there economically For us in the next 620 00:23:22,555 --> 00:23:23,057 Erik Freeman: two years? 621 00:23:23,198 --> 00:23:23,982 Erik Freeman: Probably not. 622 00:23:24,102 --> 00:23:25,509 Erik Freeman: It's something that restaurant owners need 623 00:23:25,529 --> 00:23:26,391 Erik Freeman: to keep their eye on. 624 00:23:27,212 --> 00:23:28,493 Erik Freeman: Ultimately, that's where it's going to go. 625 00:23:29,294 --> 00:23:32,242 Erik Freeman: On the short term to what you were talking 626 00:23:32,282 --> 00:23:33,965 Erik Freeman: about, there's another school of thought, 627 00:23:34,005 --> 00:23:36,902 Erik Freeman: which is okay as a restaurant owner, and 628 00:23:36,942 --> 00:23:38,340 Erik Freeman: this and I think, the real, the name of the 629 00:23:38,360 --> 00:23:38,621 Erik Freeman: game. 630 00:23:38,815 --> 00:23:40,582 Erik Freeman: This is certainly what the CEO of 631 00:23:40,622 --> 00:23:41,677 Erik Freeman: McDonald's is talking about. 632 00:23:41,798 --> 00:23:44,438 Erik Freeman: It's about market share and that is code 633 00:23:44,499 --> 00:23:47,477 Erik Freeman: for taking up customers from other 634 00:23:47,537 --> 00:23:48,039 Erik Freeman: restaurants. 635 00:23:48,775 --> 00:23:51,523 Erik Freeman: That's code for businesses potentially 636 00:23:51,563 --> 00:23:52,425 Erik Freeman: going out of business. 637 00:23:52,895 --> 00:23:54,703 Erik Freeman: But that is what the battle is gonna be for. 638 00:23:54,795 --> 00:23:56,161 Erik Freeman: It's gonna be for market share. 639 00:23:56,255 --> 00:23:58,743 Erik Freeman: So one school of thought might be if I hold 640 00:23:58,903 --> 00:24:01,462 Erik Freeman: off right, if I hold off on doing price 641 00:24:01,522 --> 00:24:05,003 Erik Freeman: increases, do I have an opportunity to 642 00:24:05,605 --> 00:24:08,302 Erik Freeman: undercut or to be more competitive with my 643 00:24:08,362 --> 00:24:11,884 Erik Freeman: prices for against these larger chains? 644 00:24:12,916 --> 00:24:15,204 Erik Freeman: And yeah, that, of course, is a possibility. 645 00:24:15,616 --> 00:24:16,801 Erik Freeman: There's no doubt about it. 646 00:24:16,975 --> 00:24:18,955 Erik Freeman: On the other side of that, it could be well 647 00:24:18,975 --> 00:24:20,662 Erik Freeman: if everybody else is raising their prices. 648 00:24:20,795 --> 00:24:25,313 Erik Freeman: This might be your only chance to take some 649 00:24:25,353 --> 00:24:27,544 Erik Freeman: of those profits ahead of time that you can 650 00:24:27,645 --> 00:24:31,486 Erik Freeman: reinvest into marketing later, I will say 651 00:24:31,567 --> 00:24:34,781 Erik Freeman: is I think the consensus that I'm getting 652 00:24:34,902 --> 00:24:37,613 Erik Freeman: at so far everyone's gonna have to do price 653 00:24:37,633 --> 00:24:37,835 Erik Freeman: increases. 654 00:24:38,518 --> 00:24:42,494 Erik Freeman: But I think what I would advise is coming 655 00:24:42,514 --> 00:24:45,425 Erik Freeman: up with a way that you can treat your 656 00:24:45,586 --> 00:24:47,315 Erik Freeman: existing customers like gold. 657 00:24:48,121 --> 00:24:49,369 Erik Freeman: And for us that's gonna be. 658 00:24:49,813 --> 00:24:50,135 Erik Freeman: Loyalty. 659 00:24:50,859 --> 00:24:51,986 Erik Freeman: For us that's gonna be. 660 00:24:52,147 --> 00:24:53,495 Erik Freeman: We have an app that we're doing. 661 00:24:54,286 --> 00:24:57,210 Erik Freeman: For example, in December we're doing a 12 662 00:24:57,230 --> 00:24:59,189 Erik Freeman: days of Christmas promotion, but it's app 663 00:24:59,351 --> 00:25:02,484 Erik Freeman: focused and I think the idea for people, if 664 00:25:02,525 --> 00:25:04,631 Erik Freeman: you don't have an app, you need to come up 665 00:25:04,651 --> 00:25:07,113 Erik Freeman: with something that treats your customers 666 00:25:07,133 --> 00:25:10,173 Erik Freeman: like gold and that might be a specific 667 00:25:10,213 --> 00:25:12,831 Erik Freeman: loyalty or a specific program that keeps 668 00:25:12,911 --> 00:25:15,089 Erik Freeman: them coming back, because market share 669 00:25:15,110 --> 00:25:18,073 Erik Freeman: means them and other businesses are gonna 670 00:25:18,093 --> 00:25:20,735 Erik Freeman: be competing for that particular customer. 671 00:25:21,401 --> 00:25:22,875 Erik Freeman: So coming up with something that's unique, 672 00:25:23,961 --> 00:25:25,872 Erik Freeman: that can hold that customer or get them to 673 00:25:25,912 --> 00:25:27,724 Erik Freeman: come more often, I think is gonna be the 674 00:25:27,764 --> 00:25:28,892 Erik Freeman: name of the game going forward. 675 00:25:28,912 --> 00:25:29,254 Mark Haney: Yeah, interesting. 676 00:25:30,180 --> 00:25:31,971 Mark Haney: So still so many ways of taking this 677 00:25:32,011 --> 00:25:32,595 Mark Haney: conversation. 678 00:25:33,156 --> 00:25:36,044 Mark Haney: I'm thinking about what you mentioned 679 00:25:36,064 --> 00:25:37,067 Mark Haney: around automation. 680 00:25:38,417 --> 00:25:40,183 Mark Haney: I wanna take it down that path for a second 681 00:25:40,941 --> 00:25:42,334 Mark Haney: and cause you understand this better than I 682 00:25:42,355 --> 00:25:42,395 Mark Haney: do. 683 00:25:42,919 --> 00:25:45,780 Mark Haney: How much automation is coming, whether it 684 00:25:45,800 --> 00:25:47,912 Mark Haney: be at a McDonald's or a major chain like 685 00:25:47,992 --> 00:25:50,572 Mark Haney: that, a national chain or even 686 00:25:50,633 --> 00:25:53,443 Mark Haney: international, where you go to other 687 00:25:53,504 --> 00:25:54,718 Mark Haney: countries and they're somewhat more 688 00:25:54,919 --> 00:25:56,660 Mark Haney: automated than what we are in some places 689 00:25:58,840 --> 00:26:01,156 Mark Haney: and what's coming already, and how much 690 00:26:01,217 --> 00:26:03,635 Mark Haney: that reduces the number of employees that 691 00:26:03,675 --> 00:26:04,459 Mark Haney: we need to have. 692 00:26:04,935 --> 00:26:06,722 Mark Haney: So you think about a company or, excuse me, 693 00:26:08,538 --> 00:26:11,764 Mark Haney: a location that has maybe very few 694 00:26:11,844 --> 00:26:13,507 Mark Haney: employees working at a time. 695 00:26:13,768 --> 00:26:14,769 Mark Haney: Let's say you've got two employees. 696 00:26:14,795 --> 00:26:17,442 Mark Haney: How many people working at a gym boys at an 697 00:26:17,663 --> 00:26:18,304 Mark Haney: off peak hour? 698 00:26:19,455 --> 00:26:20,622 Erik Freeman: Probably four, four or five. 699 00:26:20,635 --> 00:26:20,836 Mark Haney: Okay. 700 00:26:20,876 --> 00:26:22,783 Mark Haney: So you're even now at an off peak hour, 701 00:26:22,875 --> 00:26:23,880 Mark Haney: you've got four employees. 702 00:26:24,255 --> 00:26:26,775 Mark Haney: I'm sure there's some fast food places that 703 00:26:26,816 --> 00:26:28,362 Mark Haney: have two people working, right. 704 00:26:28,455 --> 00:26:31,079 Mark Haney: So you have two people working and my mind 705 00:26:31,119 --> 00:26:32,917 Mark Haney: cause I'm a security guy right, I sell 706 00:26:32,937 --> 00:26:34,996 Mark Haney: security cameras and you know, I've been in 707 00:26:35,036 --> 00:26:36,296 Mark Haney: that business for a long time and I keep 708 00:26:36,376 --> 00:26:37,641 Mark Haney: thinking I used to own a bunch of video 709 00:26:37,661 --> 00:26:39,721 Mark Haney: stores and I keep thinking that you start 710 00:26:39,741 --> 00:26:42,001 Mark Haney: getting down to a location with one to two 711 00:26:42,081 --> 00:26:44,521 Mark Haney: people and now you're driving an automation, 712 00:26:44,635 --> 00:26:46,582 Mark Haney: now I've got one person working alone. 713 00:26:49,279 --> 00:26:53,951 Mark Haney: One person with automation it's not a safe 714 00:26:53,991 --> 00:26:54,212 Mark Haney: place. 715 00:26:54,635 --> 00:26:56,141 Mark Haney: They're already working. 716 00:26:56,181 --> 00:26:58,061 Mark Haney: Retail can feel a little bit unsafe at 717 00:26:58,121 --> 00:27:00,563 Mark Haney: times it's depending on what area you're in 718 00:27:01,096 --> 00:27:04,058 Mark Haney: and now you're one person working alone in 719 00:27:04,159 --> 00:27:07,196 Mark Haney: a fast food place and like, ah, that 720 00:27:07,356 --> 00:27:09,817 Mark Haney: doesn't feel good, Well, and the culture 721 00:27:10,017 --> 00:27:10,278 Mark Haney: right. 722 00:27:10,378 --> 00:27:13,145 Mark Haney: I mean, I think you have to yeah we're so 723 00:27:13,165 --> 00:27:13,285 Mark Haney: fun. 724 00:27:13,346 --> 00:27:14,168 Erik Freeman: It's exactly right. 725 00:27:14,235 --> 00:27:15,461 Erik Freeman: I mean, I guess the employee in the month 726 00:27:15,555 --> 00:27:16,278 Erik Freeman: is the same employee. 727 00:27:16,775 --> 00:27:18,582 Erik Freeman: But other than that, I mean, what do you do? 728 00:27:20,318 --> 00:27:23,105 Erik Freeman: And on top of that it is important to 729 00:27:23,165 --> 00:27:25,080 Erik Freeman: consider, there needs to be a technician of 730 00:27:25,140 --> 00:27:27,801 Erik Freeman: some sort, someone who is going to be 731 00:27:27,881 --> 00:27:29,757 Erik Freeman: maintaining the equipment, the maintaining 732 00:27:29,777 --> 00:27:32,078 Erik Freeman: the automation, making sure that there's no 733 00:27:32,119 --> 00:27:32,942 Erik Freeman: glitches or issues. 734 00:27:33,055 --> 00:27:36,096 Erik Freeman: And if there is an issue right, it's not 735 00:27:36,157 --> 00:27:39,079 Erik Freeman: something that can be fixed by, most likely, 736 00:27:39,139 --> 00:27:40,464 Erik Freeman: the employee that's there. 737 00:27:40,755 --> 00:27:43,616 Erik Freeman: It has to be someone who has the skill and 738 00:27:43,657 --> 00:27:45,764 Erik Freeman: technical abilities to solve it. 739 00:27:45,895 --> 00:27:48,236 Erik Freeman: So there is a lot of moving parts, a lot 740 00:27:48,336 --> 00:27:51,285 Erik Freeman: more moving parts than I think everybody 741 00:27:51,325 --> 00:27:51,545 Erik Freeman: thinks. 742 00:27:51,895 --> 00:27:54,122 Erik Freeman: Certainly, in the five year or six year 743 00:27:54,142 --> 00:27:57,483 Erik Freeman: version of this it's gonna be a lot more, I 744 00:27:57,523 --> 00:28:01,500 Erik Freeman: think, easier for people to bear, but for 745 00:28:01,560 --> 00:28:05,080 Erik Freeman: right now it is costly, it's gonna be hard 746 00:28:05,121 --> 00:28:07,480 Erik Freeman: on the culture, it'll be hard on employees 747 00:28:07,781 --> 00:28:08,884 Erik Freeman: and it won't be a one-to-one. 748 00:28:09,455 --> 00:28:11,242 Erik Freeman: So that, I think, is the biggest challenge. 749 00:28:11,515 --> 00:28:14,018 Mark Haney: Yeah, what other do you think? 750 00:28:15,262 --> 00:28:18,600 Mark Haney: Advice, I guess so, to your fellow. 751 00:28:19,723 --> 00:28:21,327 Mark Haney: Who's your guys' biggest competition? 752 00:28:22,215 --> 00:28:22,697 Mark Haney: Just kinda curious. 753 00:28:24,037 --> 00:28:26,083 Mark Haney: I'm picturing the one the gym boys by my 754 00:28:26,163 --> 00:28:29,864 Mark Haney: house and it actually feels good. 755 00:28:30,415 --> 00:28:32,556 Mark Haney: Gym boys is right next to Beechia, which is 756 00:28:32,636 --> 00:28:35,740 Mark Haney: next to Mod Pizza, which is next to some 757 00:28:35,780 --> 00:28:37,377 Mark Haney: chicken wing place and I think there's a 758 00:28:37,397 --> 00:28:38,221 Mark Haney: Japanese restaurant. 759 00:28:38,255 --> 00:28:40,502 Mark Haney: You know a lot of fast foodie-type places 760 00:28:40,563 --> 00:28:42,661 Mark Haney: right there, starbucks, not too far away. 761 00:28:44,815 --> 00:28:46,281 Mark Haney: All that's going through my mind is these 762 00:28:46,361 --> 00:28:48,561 Mark Haney: restaurants wanna be kinda around other 763 00:28:48,621 --> 00:28:49,665 Mark Haney: restaurants and stuff like that. 764 00:28:50,116 --> 00:28:51,883 Mark Haney: They don't really view them as competitors. 765 00:28:51,955 --> 00:28:53,656 Mark Haney: It's more like look, that's, we're gonna 766 00:28:53,676 --> 00:28:54,980 Mark Haney: eat somewhere in that little shopping 767 00:28:55,060 --> 00:28:55,361 Mark Haney: center. 768 00:28:56,815 --> 00:28:58,923 Mark Haney: But is there like a direct competitor to 769 00:28:58,963 --> 00:29:00,419 Mark Haney: you guys that you guys feel right now? 770 00:29:01,155 --> 00:29:04,345 Erik Freeman: You know, I think it's hard to say. 771 00:29:04,475 --> 00:29:05,896 Erik Freeman: I think, at the end of the day, the direct 772 00:29:05,936 --> 00:29:07,662 Erik Freeman: competitors would be the Chipotle's of the 773 00:29:07,682 --> 00:29:07,983 Erik Freeman: world. 774 00:29:08,103 --> 00:29:08,344 Mark Haney: Okay. 775 00:29:09,055 --> 00:29:11,242 Erik Freeman: You know, and yes, taco Bell would be a 776 00:29:11,303 --> 00:29:13,922 Erik Freeman: competitor, not that it's in our space, but 777 00:29:14,223 --> 00:29:14,343 Erik Freeman: the-. 778 00:29:14,495 --> 00:29:16,116 Mark Haney: Taco Bell just tastes different, I mean, 779 00:29:16,277 --> 00:29:17,141 Mark Haney: and so does Chipotle. 780 00:29:17,255 --> 00:29:18,681 Mark Haney: It tastes different than gym boys. 781 00:29:18,795 --> 00:29:20,422 Mark Haney: It's got a way different taste and feel. 782 00:29:20,735 --> 00:29:23,162 Erik Freeman: I think the way that we brand ourselves is 783 00:29:23,222 --> 00:29:24,726 Erik Freeman: that we are we're fast casual. 784 00:29:24,815 --> 00:29:26,936 Erik Freeman: So anything in the fast casual space which 785 00:29:27,076 --> 00:29:29,359 Erik Freeman: is the Beech Hut deli is where would be the 786 00:29:29,399 --> 00:29:32,241 Erik Freeman: Chipotle's or five guys, for instance, 787 00:29:32,355 --> 00:29:32,616 Erik Freeman: those? 788 00:29:33,258 --> 00:29:36,496 Erik Freeman: it's, I think, less about the cuisine, as 789 00:29:36,817 --> 00:29:41,127 Erik Freeman: much the demand for quality that the 790 00:29:41,168 --> 00:29:42,010 Erik Freeman: concept provides. 791 00:29:42,195 --> 00:29:45,083 Erik Freeman: So it doesn't have to be a direct Hispanic. 792 00:29:45,243 --> 00:29:46,306 Erik Freeman: You know concept Right. 793 00:29:47,738 --> 00:29:50,005 Erik Freeman: It can be a, like I said, a sandwich shop, 794 00:29:50,135 --> 00:29:51,481 Erik Freeman: or it can be a pizza place. 795 00:29:51,575 --> 00:29:53,141 Erik Freeman: Those are competitors because we're all 796 00:29:53,161 --> 00:29:54,959 Erik Freeman: competing for that segment, the lunch 797 00:29:54,999 --> 00:29:56,523 Erik Freeman: segment or the dinner segment. 798 00:29:57,495 --> 00:29:59,135 Erik Freeman: So it's great to be a complimentary, but 799 00:29:59,176 --> 00:30:02,037 Erik Freeman: sometimes also they can take more from that 800 00:30:02,077 --> 00:30:02,660 Erik Freeman: segment than-. 801 00:30:03,115 --> 00:30:05,176 Mark Haney: Do you now in terms of pricing because this 802 00:30:05,196 --> 00:30:07,217 Mark Haney: is kind of a pricing question do you, when 803 00:30:07,257 --> 00:30:10,259 Mark Haney: you look at the landscape, do you for gym 804 00:30:10,299 --> 00:30:15,683 Mark Haney: boys, do you see yourself able to charge 805 00:30:15,804 --> 00:30:17,427 Mark Haney: premium pricing Because it sounds 806 00:30:17,487 --> 00:30:17,908 Mark Haney: affordable? 807 00:30:17,955 --> 00:30:19,047 Mark Haney: I mean $299? 808 00:30:19,067 --> 00:30:20,578 Mark Haney: Shock me that because I guess I guess, 809 00:30:21,281 --> 00:30:23,039 Mark Haney: don't look, I never looked at the price to. 810 00:30:23,080 --> 00:30:25,446 Mark Haney: I'm just like I'm the guy that doesn't know 811 00:30:25,466 --> 00:30:27,257 Mark Haney: whether I paid $10 or $15 or whatever, I 812 00:30:27,277 --> 00:30:27,518 Mark Haney: don't know. 813 00:30:27,879 --> 00:30:28,641 Mark Haney: That sounds bad. 814 00:30:28,822 --> 00:30:30,478 Mark Haney: I know it to the audience, but I just don't 815 00:30:30,518 --> 00:30:31,502 Mark Haney: look at that stuff that close. 816 00:30:31,775 --> 00:30:32,619 Mark Haney: My wife does, I guess. 817 00:30:33,995 --> 00:30:36,003 Mark Haney: But when you're pricing, cause it all adds 818 00:30:36,063 --> 00:30:37,675 Mark Haney: up, cause you're selling tons of tacos and 819 00:30:37,715 --> 00:30:40,315 Mark Haney: tons of french fries and tons of stuff, you 820 00:30:40,355 --> 00:30:43,485 Mark Haney: try to price yourself against those other 821 00:30:43,505 --> 00:30:45,701 Mark Haney: people to make sure you're in the same 822 00:30:46,283 --> 00:30:48,099 Mark Haney: realm 100% absolutely. 823 00:30:48,199 --> 00:30:48,360 Mark Haney: Okay. 824 00:30:49,296 --> 00:30:51,444 Erik Freeman: We compare ourselves with Del Taco. 825 00:30:51,595 --> 00:30:53,321 Erik Freeman: We'll look at what they what they're 826 00:30:53,342 --> 00:30:53,783 Erik Freeman: pricing. 827 00:30:53,915 --> 00:30:55,561 Erik Freeman: We'll look at Chipotle what they're pricing. 828 00:30:56,435 --> 00:30:58,001 Erik Freeman: We'll look at Q Doba, which isn't really 829 00:30:58,021 --> 00:30:59,980 Erik Freeman: around here, but we still look at what 830 00:31:00,000 --> 00:31:00,783 Erik Freeman: their pricing is. 831 00:31:01,395 --> 00:31:04,003 Erik Freeman: We look at Pollo Loco as well, what their 832 00:31:04,023 --> 00:31:04,625 Erik Freeman: pricing is. 833 00:31:05,075 --> 00:31:06,902 Erik Freeman: We do a competitive analysis. 834 00:31:07,316 --> 00:31:09,764 Erik Freeman: I would advise any owner to be doing this, 835 00:31:09,875 --> 00:31:11,600 Erik Freeman: if they're not already to just take 836 00:31:11,661 --> 00:31:14,438 Erik Freeman: snapshots every month to see whether the 837 00:31:14,478 --> 00:31:17,857 Erik Freeman: prices of their competitors have changed or 838 00:31:17,917 --> 00:31:19,202 Erik Freeman: not and by how much. 839 00:31:20,035 --> 00:31:21,822 Erik Freeman: And that helps figure out a little bit 840 00:31:21,915 --> 00:31:24,423 Erik Freeman: about what you could do and what the market 841 00:31:24,463 --> 00:31:25,045 Erik Freeman: can bear for you. 842 00:31:25,415 --> 00:31:28,818 Mark Haney: Are there premium or, excuse me so it goes 843 00:31:28,838 --> 00:31:32,779 Mark Haney: through my mind about there's ways to cut 844 00:31:32,879 --> 00:31:35,419 Mark Haney: portion sizes and there's a way you could 845 00:31:35,440 --> 00:31:37,719 Mark Haney: revamp the taco so that you get less of a 846 00:31:37,760 --> 00:31:39,476 Mark Haney: taco or something like that, or a little 847 00:31:39,717 --> 00:31:41,884 Mark Haney: few less fries or whatever. 848 00:31:42,176 --> 00:31:43,956 Mark Haney: You take away some of the amenities or some 849 00:31:43,996 --> 00:31:46,725 Mark Haney: of the value, I guess, out of the equation 850 00:31:47,817 --> 00:31:49,742 Mark Haney: and maybe not raise the prices much. 851 00:31:50,925 --> 00:31:52,136 Mark Haney: You think you guys are gonna see some of 852 00:31:52,156 --> 00:31:52,919 Mark Haney: that kind of stuff too. 853 00:31:53,475 --> 00:31:55,096 Erik Freeman: So I love that you bring that up, because 854 00:31:55,478 --> 00:31:57,856 Erik Freeman: we looked into that ourselves about two 855 00:31:57,916 --> 00:31:59,300 Erik Freeman: years ago and it's kind of they call it 856 00:31:59,320 --> 00:32:00,383 Erik Freeman: it's called America on a Diet. 857 00:32:00,423 --> 00:32:04,023 Mark Haney: They call it kind of shrink flange in a way 858 00:32:04,083 --> 00:32:04,304 Mark Haney: right. 859 00:32:04,957 --> 00:32:06,421 Erik Freeman: Where it's hidden. 860 00:32:06,882 --> 00:32:09,739 Erik Freeman: You keep the price the same, but you will 861 00:32:10,181 --> 00:32:11,345 Erik Freeman: change the portion size. 862 00:32:11,475 --> 00:32:13,843 Erik Freeman: Well, we did look into it and I think 863 00:32:14,063 --> 00:32:16,360 Erik Freeman: ultimately what we found, in order for it 864 00:32:16,380 --> 00:32:19,498 Erik Freeman: to make a difference, we had to change our 865 00:32:20,361 --> 00:32:25,740 Erik Freeman: portions by like 20% 15 to 20% on our 866 00:32:25,780 --> 00:32:28,079 Erik Freeman: portions and I think when we really looked 867 00:32:28,119 --> 00:32:31,582 Erik Freeman: at that, it just didn't sit right with what 868 00:32:31,682 --> 00:32:32,817 Erik Freeman: the demand of the customer. 869 00:32:32,837 --> 00:32:34,583 Erik Freeman: You're actually a perfect example. 870 00:32:35,015 --> 00:32:37,063 Erik Freeman: You're not looking at the prices right. 871 00:32:37,115 --> 00:32:39,864 Erik Freeman: You wouldn't notice necessarily a two, 872 00:32:40,044 --> 00:32:42,776 Erik Freeman: three, four or 5% price increase, but I bet 873 00:32:43,418 --> 00:32:46,285 Erik Freeman: you would notice the portion decrease. 874 00:32:46,606 --> 00:32:48,661 Erik Freeman: Right and so even though you're paying. 875 00:32:48,975 --> 00:32:49,860 Erik Freeman: If we were to cut-. 876 00:32:50,035 --> 00:32:51,837 Mark Haney: I get a word of three chocos now, or two 877 00:32:51,877 --> 00:32:53,002 Mark Haney: versus two, or whatever it is. 878 00:32:53,275 --> 00:32:55,937 Erik Freeman: And, at the end of the day, I think that's 879 00:32:55,997 --> 00:32:57,582 Erik Freeman: a decision that every restaurant owner, of 880 00:32:57,622 --> 00:32:58,405 Erik Freeman: course, can look at. 881 00:32:58,535 --> 00:33:01,858 Erik Freeman: But for us portions, we felt that was an 882 00:33:01,918 --> 00:33:04,085 Erik Freeman: untouchable for our customer. 883 00:33:04,105 --> 00:33:04,386 Mark Haney: Interesting. 884 00:33:04,446 --> 00:33:07,362 Mark Haney: Yeah, these are really interesting strategy 885 00:33:07,422 --> 00:33:08,044 Mark Haney: decisions. 886 00:33:09,495 --> 00:33:11,182 Mark Haney: Okay, so what am I not talking about? 887 00:33:11,675 --> 00:33:12,860 Mark Haney: I mean, I'm kind of coming up with all the 888 00:33:12,920 --> 00:33:14,539 Mark Haney: questions here, but is there a certain 889 00:33:14,680 --> 00:33:16,279 Mark Haney: aspect of this that I'm not addressing? 890 00:33:17,095 --> 00:33:18,421 Erik Freeman: Well, I appreciate that. 891 00:33:19,879 --> 00:33:23,861 Erik Freeman: I think, as I mentioned, the two immediate 892 00:33:23,901 --> 00:33:26,557 Erik Freeman: questions that a restaurant owner needs to 893 00:33:26,597 --> 00:33:31,435 Erik Freeman: look at is one how much and how often are 894 00:33:31,476 --> 00:33:33,276 Erik Freeman: you gonna be increasing your prices from 895 00:33:33,376 --> 00:33:34,581 Erik Freeman: here until April? 896 00:33:34,895 --> 00:33:35,899 Erik Freeman: If that's the route you wanna go? 897 00:33:37,355 --> 00:33:39,183 Erik Freeman: Market share all right, is that something? 898 00:33:39,255 --> 00:33:41,724 Erik Freeman: How are you going to compete for market 899 00:33:41,744 --> 00:33:43,480 Erik Freeman: share, because that's what everybody else 900 00:33:43,540 --> 00:33:46,060 Erik Freeman: is gonna be doing in the immediate future, 901 00:33:46,515 --> 00:33:48,316 Erik Freeman: and how are you going to be thinking about 902 00:33:48,457 --> 00:33:51,500 Erik Freeman: your existing customers and really now 903 00:33:51,580 --> 00:33:54,321 Erik Freeman: modeling your business to treat them like 904 00:33:54,783 --> 00:33:56,661 Erik Freeman: gold, because they're gonna be the ones 905 00:33:56,755 --> 00:33:59,844 Erik Freeman: that get you through this next step? 906 00:34:00,675 --> 00:34:02,455 Erik Freeman: There's a lot of, I think, internal and 907 00:34:02,475 --> 00:34:05,159 Erik Freeman: this is where I opened it up, where I'd 908 00:34:05,260 --> 00:34:07,378 Erik Freeman: love to make myself available or anyone 909 00:34:07,398 --> 00:34:09,076 Erik Freeman: available to talk this through because 910 00:34:09,096 --> 00:34:10,983 Erik Freeman: there's a lot of internal conversations 911 00:34:11,095 --> 00:34:15,960 Erik Freeman: that owners need to have about how they're 912 00:34:16,482 --> 00:34:19,641 Erik Freeman: going to, how they're gonna tackle the wage 913 00:34:19,682 --> 00:34:21,100 Erik Freeman: increase, the minimum wage increase. 914 00:34:21,737 --> 00:34:23,724 Erik Freeman: There's different overtime conversations. 915 00:34:23,855 --> 00:34:25,682 Erik Freeman: There's staffing conversations. 916 00:34:26,116 --> 00:34:27,897 Erik Freeman: There's a lot of internal things that go on 917 00:34:27,917 --> 00:34:31,141 Erik Freeman: in the restaurant that is specifically 918 00:34:31,181 --> 00:34:32,445 Erik Freeman: tailored towards employees. 919 00:34:32,995 --> 00:34:36,626 Erik Freeman: That's something I think is more beneficial 920 00:34:36,695 --> 00:34:38,736 Erik Freeman: to have one-on-one conversations and direct 921 00:34:38,796 --> 00:34:42,360 Erik Freeman: conversations with owners on, but and 922 00:34:42,500 --> 00:34:44,756 Erik Freeman: that's a tackling this directly with how 923 00:34:44,796 --> 00:34:46,762 Erik Freeman: you're gonna deal with the minimum wage 924 00:34:46,822 --> 00:34:47,164 Erik Freeman: increase. 925 00:34:47,755 --> 00:34:49,381 Erik Freeman: But on the other side I think that's where 926 00:34:50,376 --> 00:34:52,096 Erik Freeman: it's very open to everybody else also 927 00:34:52,136 --> 00:34:54,900 Erik Freeman: talking about hey, we have how many price 928 00:34:54,940 --> 00:34:55,723 Erik Freeman: increases are you gonna do? 929 00:34:56,195 --> 00:34:57,260 Erik Freeman: What's McDonald's doing? 930 00:34:58,158 --> 00:34:59,703 Erik Freeman: What's in and out doing? 931 00:35:00,255 --> 00:35:01,881 Erik Freeman: How many times are they gonna increase 932 00:35:01,921 --> 00:35:02,844 Erik Freeman: their prices? 933 00:35:02,975 --> 00:35:04,722 Erik Freeman: I can guarantee you it won't be just one. 934 00:35:04,835 --> 00:35:07,464 Erik Freeman: They're not gonna do just one 10, 15, 20% 935 00:35:07,524 --> 00:35:07,845 Erik Freeman: increase. 936 00:35:07,975 --> 00:35:11,396 Erik Freeman: It will be two, maybe three that they're 937 00:35:11,416 --> 00:35:13,724 Erik Freeman: gonna do between now and between April. 938 00:35:14,195 --> 00:35:17,064 Erik Freeman: So keep your eye on that and keep a look on 939 00:35:17,104 --> 00:35:17,164 Erik Freeman: it. 940 00:35:17,956 --> 00:35:18,639 Erik Freeman: I think there's other. 941 00:35:19,035 --> 00:35:19,678 Erik Freeman: There's certainly. 942 00:35:20,120 --> 00:35:21,981 Erik Freeman: I think another competitive advantage here 943 00:35:22,255 --> 00:35:27,376 Erik Freeman: that I can talk about is you're not 944 00:35:27,497 --> 00:35:30,043 Erik Freeman: necessarily gonna be able to compete on 945 00:35:30,564 --> 00:35:35,797 Erik Freeman: wages, and what I mean by that is a larger 946 00:35:35,857 --> 00:35:37,523 Erik Freeman: brand might be spending. 947 00:35:38,737 --> 00:35:41,637 Erik Freeman: They might be paying $24 an hour to get the 948 00:35:41,718 --> 00:35:42,862 Erik Freeman: best type of employees. 949 00:35:43,795 --> 00:35:46,364 Erik Freeman: What your competitive advantage is gonna be 950 00:35:46,675 --> 00:35:49,977 Erik Freeman: is how you treat that employee as an owner. 951 00:35:50,138 --> 00:35:52,775 Erik Freeman: How flexible are you with their schedule as 952 00:35:52,816 --> 00:35:53,217 Erik Freeman: an owner? 953 00:35:53,297 --> 00:35:55,083 Erik Freeman: How flexible are you with their personal 954 00:35:55,103 --> 00:35:55,323 Erik Freeman: life? 955 00:35:56,095 --> 00:35:57,220 Erik Freeman: How well do you know them? 956 00:35:57,956 --> 00:36:00,324 Erik Freeman: What things does that employee care about 957 00:36:00,475 --> 00:36:02,597 Erik Freeman: that you can help cater to or help make 958 00:36:02,838 --> 00:36:04,082 Erik Freeman: easier on their life. 959 00:36:04,695 --> 00:36:07,504 Erik Freeman: That, I think, is gonna be a really big 960 00:36:07,584 --> 00:36:07,845 Erik Freeman: issue. 961 00:36:08,035 --> 00:36:10,383 Erik Freeman: And something really important coming up 962 00:36:10,443 --> 00:36:13,443 Erik Freeman: here is the employees that are looking for 963 00:36:14,035 --> 00:36:16,780 Erik Freeman: not just the money, and sometimes instead 964 00:36:16,860 --> 00:36:19,500 Erik Freeman: of the money, they might wanna see instead 965 00:36:20,222 --> 00:36:24,784 Erik Freeman: more flexibility and more relational terms 966 00:36:24,864 --> 00:36:25,385 Erik Freeman: with the owner. 967 00:36:26,275 --> 00:36:29,844 Erik Freeman: I certainly know that during the COVID era, 968 00:36:32,119 --> 00:36:33,744 Erik Freeman: that's how a lot of owners were able to get 969 00:36:33,784 --> 00:36:34,005 Erik Freeman: through. 970 00:36:34,025 --> 00:36:35,842 Erik Freeman: It is that they just had solid employees 971 00:36:36,295 --> 00:36:37,942 Erik Freeman: who they had really good relationships with 972 00:36:38,075 --> 00:36:40,036 Erik Freeman: and they were able to get through that and 973 00:36:40,478 --> 00:36:41,916 Erik Freeman: I think going forward, that's gonna be 974 00:36:43,000 --> 00:36:44,324 Erik Freeman: probably more important than anything, 975 00:36:44,575 --> 00:36:46,135 Erik Freeman: especially for smaller businesses, for 976 00:36:46,477 --> 00:36:47,481 Erik Freeman: smaller restaurant owners. 977 00:36:47,595 --> 00:36:48,961 Erik Freeman: That relationship is gonna be gold. 978 00:36:49,135 --> 00:36:50,862 Mark Haney: Is some of that already happening? 979 00:36:50,975 --> 00:36:52,201 Mark Haney: I'm looking at Starbucks. 980 00:36:52,315 --> 00:36:53,895 Mark Haney: They don't pay minimum wage, do they, or 981 00:36:53,936 --> 00:36:54,197 Mark Haney: they? 982 00:36:54,277 --> 00:36:54,558 Mark Haney: I mean? 983 00:36:54,960 --> 00:36:57,239 Mark Haney: They're not close, I mean they kinda have 984 00:36:57,259 --> 00:36:58,684 Mark Haney: abandoned some of that kind of stuff. 985 00:36:58,795 --> 00:37:01,204 Mark Haney: They've got enough profitability and volume 986 00:37:01,315 --> 00:37:04,540 Mark Haney: and all that scale to create different 987 00:37:04,560 --> 00:37:06,019 Mark Haney: kinds of incentive packages and stuff 988 00:37:06,039 --> 00:37:07,203 Mark Haney: beyond minimum wage. 989 00:37:07,845 --> 00:37:09,951 Erik Freeman: Yeah, certainly their benefit package is 990 00:37:10,231 --> 00:37:11,795 Erik Freeman: going to be stronger than what and that's 991 00:37:11,836 --> 00:37:14,632 Erik Freeman: my point Typically, a benefit package that 992 00:37:14,873 --> 00:37:17,771 Erik Freeman: a uh, a larger brand can offer is going to 993 00:37:17,791 --> 00:37:20,197 Erik Freeman: be more than what you have as a restaurant 994 00:37:20,265 --> 00:37:21,007 Erik Freeman: owner to offer. 995 00:37:21,568 --> 00:37:23,453 Erik Freeman: But, believe me, that does come with 996 00:37:23,794 --> 00:37:24,335 Erik Freeman: conditions. 997 00:37:24,356 --> 00:37:24,897 Erik Freeman: They're there. 998 00:37:25,125 --> 00:37:27,231 Erik Freeman: It's not going to be as personable as a 999 00:37:27,291 --> 00:37:30,328 Erik Freeman: feel as knowing you know the as the owner, 1000 00:37:30,368 --> 00:37:31,573 Erik Freeman: knowing you by first name. 1001 00:37:31,653 --> 00:37:33,625 Erik Freeman: You know your owner by first name, the 1002 00:37:33,686 --> 00:37:35,652 Erik Freeman: owner knowing about what's going on in your 1003 00:37:35,692 --> 00:37:38,591 Erik Freeman: life and being able to accommodate, uh, uh, 1004 00:37:38,712 --> 00:37:40,968 Erik Freeman: certain things that come up, and so the the 1005 00:37:41,048 --> 00:37:42,933 Erik Freeman: more that an owner can really take that 1006 00:37:42,994 --> 00:37:43,314 Erik Freeman: care. 1007 00:37:44,036 --> 00:37:46,211 Erik Freeman: Uh, I do think that that's going to uh for 1008 00:37:46,332 --> 00:37:47,315 Erik Freeman: for a lot of employees. 1009 00:37:47,525 --> 00:37:48,789 Erik Freeman: If we're talking about the difference 1010 00:37:48,829 --> 00:37:51,426 Erik Freeman: between two or three or $4 an hour, I think 1011 00:37:51,486 --> 00:37:52,990 Erik Freeman: that's going to end up becoming more 1012 00:37:53,030 --> 00:37:55,316 Erik Freeman: important than just the $4 an hour. 1013 00:37:56,126 --> 00:37:58,293 Erik Freeman: Scheduling, staffing, the amount of hours 1014 00:37:58,333 --> 00:38:00,786 Erik Freeman: worked, those things are uh going to be a 1015 00:38:00,806 --> 00:38:02,713 Erik Freeman: little bit higher of a standard when you're 1016 00:38:02,753 --> 00:38:04,128 Erik Freeman: working at these bigger brands and they 1017 00:38:04,168 --> 00:38:07,090 Erik Freeman: have these benefit packages, but it does 1018 00:38:07,130 --> 00:38:08,374 Erik Freeman: come with a little bit of a cost. 1019 00:38:08,605 --> 00:38:09,790 Mark Haney: And the other thing I would say to anybody 1020 00:38:09,830 --> 00:38:11,366 Mark Haney: that might be listening out there that is 1021 00:38:11,426 --> 00:38:15,577 Mark Haney: either working in fast food, or maybe 1022 00:38:15,597 --> 00:38:17,526 Mark Haney: they're a parent and your child's in high 1023 00:38:17,546 --> 00:38:19,252 Mark Haney: school and thinking about getting a job in 1024 00:38:19,272 --> 00:38:21,948 Mark Haney: fast food is like what you can learn 1025 00:38:22,249 --> 00:38:25,116 Mark Haney: working for an independent company where 1026 00:38:25,136 --> 00:38:28,393 Mark Haney: you have access to an Eric Freeman or you 1027 00:38:28,433 --> 00:38:30,017 Mark Haney: know the owner of the business. 1028 00:38:30,745 --> 00:38:32,591 Mark Haney: I mean that's a different kind of learning 1029 00:38:32,651 --> 00:38:34,591 Mark Haney: experience because I mean, really we're 1030 00:38:34,631 --> 00:38:35,502 Mark Haney: doing it for the money. 1031 00:38:35,522 --> 00:38:36,980 Mark Haney: Of course we want to paycheck and all that 1032 00:38:37,020 --> 00:38:39,110 Mark Haney: kind of stuff, but really you think back to 1033 00:38:39,150 --> 00:38:40,896 Mark Haney: your first job, right, parent? 1034 00:38:41,025 --> 00:38:42,249 Mark Haney: Think back to your first job. 1035 00:38:42,269 --> 00:38:44,896 Mark Haney: What kind of experience did you have? 1036 00:38:45,245 --> 00:38:46,850 Mark Haney: Did you learn some stuff? 1037 00:38:46,890 --> 00:38:48,415 Mark Haney: Did you get some valuable lessons where 1038 00:38:48,435 --> 00:38:50,489 Mark Haney: these kind of the kind of lessons that last 1039 00:38:50,529 --> 00:38:52,435 Mark Haney: at a lifetime yeah, they did. 1040 00:38:52,726 --> 00:38:54,316 Mark Haney: It's like the first, your first girlfriend, 1041 00:38:54,357 --> 00:38:55,605 Mark Haney: your first job, those kinds of things. 1042 00:38:55,685 --> 00:38:57,713 Mark Haney: Like you remember those things for the rest 1043 00:38:57,733 --> 00:38:58,054 Mark Haney: of your life. 1044 00:38:58,506 --> 00:39:02,221 Mark Haney: You want to have your children or if you're 1045 00:39:02,281 --> 00:39:03,867 Mark Haney: a child or a young person, or a young 1046 00:39:03,907 --> 00:39:05,873 Mark Haney: person getting the first job, or an entry 1047 00:39:05,914 --> 00:39:07,208 Mark Haney: level job, maybe getting back in the 1048 00:39:07,228 --> 00:39:07,690 Mark Haney: workforce. 1049 00:39:08,051 --> 00:39:08,694 Mark Haney: You want that. 1050 00:39:08,985 --> 00:39:10,305 Mark Haney: It's going to be a memorable experience and 1051 00:39:10,325 --> 00:39:14,276 Mark Haney: so you want to be around people that think 1052 00:39:14,476 --> 00:39:16,991 Mark Haney: more entrepreneurially, think more 1053 00:39:17,051 --> 00:39:19,016 Mark Haney: creatively, think about how to win. 1054 00:39:19,365 --> 00:39:22,635 Mark Haney: We want to be in those kind of environments, 1055 00:39:22,985 --> 00:39:26,773 Mark Haney: and so there's a certain value that it's 1056 00:39:26,814 --> 00:39:28,758 Mark Haney: almost priceless in a way. 1057 00:39:28,798 --> 00:39:30,249 Mark Haney: You know you can go to some job where 1058 00:39:30,289 --> 00:39:32,135 Mark Haney: everybody doesn't care about the job and 1059 00:39:32,175 --> 00:39:33,127 Mark Haney: it's just kind of a job. 1060 00:39:33,447 --> 00:39:35,232 Mark Haney: Or you can go be around a small business 1061 00:39:35,312 --> 00:39:38,209 Mark Haney: where mom and pop are giving it everything 1062 00:39:38,249 --> 00:39:40,651 Mark Haney: they have and of course they they treat 1063 00:39:40,671 --> 00:39:41,634 Mark Haney: their employees like gold. 1064 00:39:41,645 --> 00:39:42,910 Mark Haney: They're like their employees, are like 1065 00:39:42,970 --> 00:39:47,873 Mark Haney: family, and what a much better experience 1066 00:39:47,933 --> 00:39:50,138 Mark Haney: in terms of getting your first or second 1067 00:39:50,178 --> 00:39:52,410 Mark Haney: job and being around somebody who thinks of 1068 00:39:52,490 --> 00:39:54,715 Mark Haney: you like family and you're actually 1069 00:39:54,956 --> 00:39:58,733 Mark Haney: learning life skills instead of you know 1070 00:39:58,793 --> 00:40:01,106 Mark Haney: how to be number three on the cashier, you 1071 00:40:01,146 --> 00:40:02,973 Mark Haney: know rack or cashier table. 1072 00:40:04,028 --> 00:40:05,273 Mark Haney: It's so much better to work for a small 1073 00:40:05,293 --> 00:40:08,044 Mark Haney: business than work for some giant fast food 1074 00:40:08,085 --> 00:40:08,205 Mark Haney: chain. 1075 00:40:08,386 --> 00:40:10,200 Mark Haney: I would think I have to imagine as a guy 1076 00:40:10,220 --> 00:40:11,347 Mark Haney: that used to own a bunch of video stores. 1077 00:40:11,728 --> 00:40:13,254 Mark Haney: We work for Blockbuster, we work for me. 1078 00:40:13,586 --> 00:40:14,650 Mark Haney: Of course you're going to get a lot better 1079 00:40:14,690 --> 00:40:15,554 Mark Haney: experience working for me. 1080 00:40:16,813 --> 00:40:18,947 Erik Freeman: I completely and 100% agree Restaurant 1081 00:40:19,007 --> 00:40:19,690 Erik Freeman: owners are. 1082 00:40:20,713 --> 00:40:23,703 Erik Freeman: They are, they're a breed all on themselves. 1083 00:40:23,743 --> 00:40:24,245 Erik Freeman: They go to work. 1084 00:40:24,526 --> 00:40:26,394 Erik Freeman: A lot of them, they especially the smaller 1085 00:40:26,574 --> 00:40:28,382 Erik Freeman: ones they go to work every day. 1086 00:40:28,522 --> 00:40:30,780 Erik Freeman: They are there, they are there in the 1087 00:40:30,800 --> 00:40:32,048 Erik Freeman: middle of the night, they're there in the 1088 00:40:32,469 --> 00:40:34,667 Erik Freeman: early parts of the morning there, and 1089 00:40:34,707 --> 00:40:35,892 Erik Freeman: that's just what you see. 1090 00:40:36,166 --> 00:40:38,271 Erik Freeman: Then there's the amount of work that they 1091 00:40:38,312 --> 00:40:40,297 Erik Freeman: do on the back end that nobody ever sees. 1092 00:40:40,886 --> 00:40:41,147 Erik Freeman: It is. 1093 00:40:41,670 --> 00:40:43,517 Erik Freeman: It is a backbreaking job, mentally, 1094 00:40:43,638 --> 00:40:45,405 Erik Freeman: physically, emotionally. 1095 00:40:45,887 --> 00:40:47,835 Erik Freeman: And you know, there's no doubt, if you can 1096 00:40:47,936 --> 00:40:50,748 Erik Freeman: see how a restaurant owner can persevere, 1097 00:40:51,129 --> 00:40:52,956 Erik Freeman: that should be an inspiration and something 1098 00:40:52,997 --> 00:40:54,944 Erik Freeman: that you can take with you for the rest of 1099 00:40:54,984 --> 00:40:55,205 Erik Freeman: your life. 1100 00:40:55,546 --> 00:40:57,892 Mark Haney: America, youth or your parents. 1101 00:40:58,895 --> 00:40:59,877 Mark Haney: We need that right. 1102 00:41:00,788 --> 00:41:02,954 Mark Haney: We, now more than ever, we need to learn 1103 00:41:03,355 --> 00:41:07,250 Mark Haney: work ethic and, you know, be inspired by 1104 00:41:07,311 --> 00:41:08,565 Mark Haney: people who put it all out on the line. 1105 00:41:08,847 --> 00:41:10,637 Mark Haney: Those are the kind of people we we should 1106 00:41:10,697 --> 00:41:13,189 Mark Haney: want our children to be around and want if 1107 00:41:13,249 --> 00:41:15,373 Mark Haney: it's us want, that's the people I mean. 1108 00:41:15,414 --> 00:41:15,964 Mark Haney: I invest in the startups. 1109 00:41:16,326 --> 00:41:19,040 Mark Haney: It's not the highest paying, you know gig 1110 00:41:19,060 --> 00:41:20,387 Mark Haney: in the world, but you know what it's 1111 00:41:20,427 --> 00:41:22,777 Mark Haney: inspiring and it makes me feel good about 1112 00:41:22,857 --> 00:41:25,328 Mark Haney: me to be working with this group of people 1113 00:41:25,348 --> 00:41:26,071 Mark Haney: with small business. 1114 00:41:26,807 --> 00:41:28,558 Mark Haney: So, um, all right. 1115 00:41:28,819 --> 00:41:29,725 Mark Haney: What else did I not cover? 1116 00:41:29,886 --> 00:41:31,314 Mark Haney: Because the other thing I was going to go 1117 00:41:31,374 --> 00:41:33,886 Mark Haney: to is I'm just picturing the ripple effect 1118 00:41:34,146 --> 00:41:34,665 Mark Haney: of this. 1119 00:41:34,925 --> 00:41:38,386 Mark Haney: You know I'm still scratching my head over 1120 00:41:38,646 --> 00:41:41,016 Mark Haney: how we're continuing to print money knowing 1121 00:41:41,056 --> 00:41:42,405 Mark Haney: that all it does is cause inflation. 1122 00:41:42,846 --> 00:41:43,851 Mark Haney: Now we do something like this. 1123 00:41:44,486 --> 00:41:46,735 Mark Haney: I have to imagine, you know, the gas 1124 00:41:46,795 --> 00:41:47,257 Mark Haney: station. 1125 00:41:47,578 --> 00:41:50,850 Mark Haney: You know on the on the opposing corner is 1126 00:41:51,272 --> 00:41:52,837 Mark Haney: going to be like wait. 1127 00:41:53,018 --> 00:41:54,925 Mark Haney: I could go over and work at the fast food 1128 00:41:55,186 --> 00:41:57,194 Mark Haney: place and make five bucks more an hour than 1129 00:41:57,275 --> 00:41:59,102 Mark Haney: I can being a cashier. 1130 00:41:59,122 --> 00:42:00,885 Mark Haney: You know what I got to feed my family. 1131 00:42:01,226 --> 00:42:02,973 Mark Haney: I'm going to be drawn to fast food. 1132 00:42:03,346 --> 00:42:05,917 Mark Haney: I'm going to be bouncing from Walmart or 1133 00:42:06,238 --> 00:42:08,388 Mark Haney: these other organizations that are paying 1134 00:42:08,529 --> 00:42:09,172 Mark Haney: minimum wage. 1135 00:42:09,506 --> 00:42:11,391 Mark Haney: I'm going to make 20 bucks an hour over at 1136 00:42:11,832 --> 00:42:16,042 Mark Haney: gym boys or wherever, um that other people 1137 00:42:16,062 --> 00:42:16,445 Mark Haney: are going to suffer. 1138 00:42:16,706 --> 00:42:18,153 Mark Haney: So there's this ripple effect, or these 1139 00:42:18,435 --> 00:42:21,007 Mark Haney: unintended consequences that are just going 1140 00:42:21,027 --> 00:42:21,871 Mark Haney: to show up on us. 1141 00:42:22,692 --> 00:42:23,765 Erik Freeman: You hit the nail on the head, mark. 1142 00:42:24,086 --> 00:42:27,057 Erik Freeman: That's, I think, the uh, when, when I say 1143 00:42:27,178 --> 00:42:29,696 Erik Freeman: don't uh, don't think that this won't 1144 00:42:29,757 --> 00:42:31,565 Erik Freeman: affect you, that's exactly what I mean. 1145 00:42:31,565 --> 00:42:34,227 Erik Freeman: There is every industry is going to have 1146 00:42:34,355 --> 00:42:36,589 Erik Freeman: this effect, and you use the convenience 1147 00:42:36,717 --> 00:42:36,897 Erik Freeman: store. 1148 00:42:37,157 --> 00:42:38,320 Erik Freeman: That's a perfect example. 1149 00:42:38,806 --> 00:42:42,158 Erik Freeman: Any retail outlet of any kind clothing, uh, 1150 00:42:42,299 --> 00:42:45,212 Erik Freeman: apparel or or jewelry or or anything out 1151 00:42:45,232 --> 00:42:46,903 Erik Freeman: there they're going to ask that same 1152 00:42:46,943 --> 00:42:50,636 Erik Freeman: question why is it that now I uh am, am 1153 00:42:50,816 --> 00:42:53,525 Erik Freeman: below this particular wage that uh, that 1154 00:42:53,565 --> 00:42:54,911 Erik Freeman: the restaurant industry gets? 1155 00:42:55,031 --> 00:42:57,683 Erik Freeman: And it will spur, believe me, conversations 1156 00:42:57,844 --> 00:42:59,560 Erik Freeman: and push back from employees with their 1157 00:42:59,601 --> 00:42:59,985 Erik Freeman: employers. 1158 00:43:00,005 --> 00:43:02,706 Erik Freeman: The employers are now going to be forced to 1159 00:43:02,813 --> 00:43:05,628 Erik Freeman: think about how much they have to pay and 1160 00:43:05,648 --> 00:43:07,998 Erik Freeman: it's most likely going to become that $20 1161 00:43:08,038 --> 00:43:10,330 Erik Freeman: minimum is going to be, I think, easily 1162 00:43:10,371 --> 00:43:12,648 Erik Freeman: become the minimum for everyone, just, 1163 00:43:12,889 --> 00:43:14,998 Erik Freeman: unintentionally, just that's the downstream 1164 00:43:15,058 --> 00:43:18,332 Erik Freeman: consequences of when you implemented in one 1165 00:43:18,674 --> 00:43:20,944 Erik Freeman: uh, in one facet of the of the industry. 1166 00:43:20,964 --> 00:43:22,952 Erik Freeman: It's going to it's going to ripple through 1167 00:43:22,972 --> 00:43:25,060 Erik Freeman: the remaining industries with exactly that 1168 00:43:25,100 --> 00:43:25,944 Erik Freeman: type of mentality. 1169 00:43:25,964 --> 00:43:26,064 Erik Freeman: Okay. 1170 00:43:26,750 --> 00:43:28,244 Mark Haney: So I'm going to switch subjects a little 1171 00:43:28,264 --> 00:43:28,325 Mark Haney: bit. 1172 00:43:28,709 --> 00:43:29,924 Mark Haney: I want to talk a little bit more about food, 1173 00:43:29,944 --> 00:43:32,485 Mark Haney: okay, oh, so that's great conversation. 1174 00:43:32,967 --> 00:43:34,393 Mark Haney: I don't think we went overly political, 1175 00:43:34,554 --> 00:43:36,101 Mark Haney: although you may have smelled some of our 1176 00:43:36,442 --> 00:43:37,005 Mark Haney: political beliefs. 1177 00:43:37,065 --> 00:43:38,911 Mark Haney: Look, we're not crying about it, we're 1178 00:43:38,931 --> 00:43:39,862 Mark Haney: trying to figure out what we're going to do 1179 00:43:39,882 --> 00:43:40,044 Mark Haney: about it. 1180 00:43:40,064 --> 00:43:42,819 Mark Haney: Right, we're, part of this makes you want 1181 00:43:42,839 --> 00:43:43,221 Mark Haney: to go. 1182 00:43:43,422 --> 00:43:43,985 Mark Haney: Are you kidding me? 1183 00:43:44,246 --> 00:43:46,621 Mark Haney: But then the other part is like okay, let's 1184 00:43:46,641 --> 00:43:47,305 Mark Haney: put that aside. 1185 00:43:47,649 --> 00:43:48,745 Mark Haney: Uh, that's not what this show is about. 1186 00:43:48,946 --> 00:43:50,031 Mark Haney: This show is about how to win. 1187 00:43:51,048 --> 00:43:53,845 Mark Haney: Um, let's talk about food for a second. 1188 00:43:54,128 --> 00:43:55,485 Mark Haney: Let's talk about your menu. 1189 00:43:56,091 --> 00:43:56,596 Mark Haney: Why is it? 1190 00:43:56,899 --> 00:43:57,445 Mark Haney: I mean it's good. 1191 00:43:57,769 --> 00:43:58,685 Mark Haney: What do people like the most? 1192 00:43:58,868 --> 00:43:59,745 Mark Haney: What's most popular? 1193 00:44:00,395 --> 00:44:01,005 Mark Haney: What do people love? 1194 00:44:01,185 --> 00:44:01,627 Mark Haney: What's like? 1195 00:44:02,188 --> 00:44:04,374 Mark Haney: Look, we can't keep this in stock type 1196 00:44:04,394 --> 00:44:04,654 Mark Haney: stuff. 1197 00:44:05,136 --> 00:44:07,336 Mark Haney: The ground beef taco Ground beef taco is as 1198 00:44:07,357 --> 00:44:08,205 Mark Haney: simple as the ground beef taco. 1199 00:44:08,406 --> 00:44:11,141 Erik Freeman: The ground beef taco is by far our most 1200 00:44:11,202 --> 00:44:11,805 Erik Freeman: popular item. 1201 00:44:12,066 --> 00:44:12,687 Mark Haney: I mean I'm not saying. 1202 00:44:12,747 --> 00:44:14,632 Mark Haney: I mean I'm saying this you share it versus 1203 00:44:14,712 --> 00:44:15,434 Mark Haney: me sharing it. 1204 00:44:16,056 --> 00:44:16,798 Mark Haney: I'm happy to share. 1205 00:44:17,747 --> 00:44:20,080 Erik Freeman: We, uh, our tortillas are, uh, they're 1206 00:44:20,100 --> 00:44:22,302 Erik Freeman: stone ground tortillas, so it does give 1207 00:44:22,460 --> 00:44:22,700 Erik Freeman: their. 1208 00:44:22,859 --> 00:44:25,769 Erik Freeman: I think the way that we, uh, we make our 1209 00:44:25,927 --> 00:44:27,995 Erik Freeman: food, specifically the taco, uh, you can 1210 00:44:28,146 --> 00:44:30,577 Erik Freeman: taste the difference the it is a stone 1211 00:44:30,618 --> 00:44:31,245 Erik Freeman: ground tortilla. 1212 00:44:31,546 --> 00:44:33,456 Erik Freeman: It's high grade quality cheese, both the 1213 00:44:33,496 --> 00:44:35,285 Erik Freeman: Parmesan and the cheese we put on the 1214 00:44:35,506 --> 00:44:35,927 Erik Freeman: inside. 1215 00:44:36,388 --> 00:44:38,553 Erik Freeman: The ground beef is pillow packed, um, and 1216 00:44:38,593 --> 00:44:40,437 Erik Freeman: it's in, uh, california, it's California 1217 00:44:40,478 --> 00:44:40,658 Erik Freeman: beef. 1218 00:44:41,106 --> 00:44:43,955 Erik Freeman: So we, we definitely take a lot of care 1219 00:44:44,216 --> 00:44:46,183 Erik Freeman: into the ingredients that we put into our 1220 00:44:46,223 --> 00:44:47,729 Erik Freeman: ground beef taco and I think that you can 1221 00:44:47,769 --> 00:44:48,492 Erik Freeman: taste the difference. 1222 00:44:49,087 --> 00:44:51,538 Erik Freeman: Um, we make the, the, uh, the ground beef. 1223 00:44:51,598 --> 00:44:53,752 Erik Freeman: It's fresh, never frozen, and it's been 1224 00:44:53,792 --> 00:44:55,205 Erik Freeman: that way since 1954. 1225 00:44:55,406 --> 00:44:58,088 Erik Freeman: We make it every day from scratch, uh, so 1226 00:44:58,429 --> 00:45:01,074 Erik Freeman: it is the real deal, uh, and so I think 1227 00:45:01,114 --> 00:45:02,361 Erik Freeman: that's, you know, there's always been a 1228 00:45:02,402 --> 00:45:02,925 Erik Freeman: demand for that. 1229 00:45:03,368 --> 00:45:05,079 Erik Freeman: You know we have a really good bean burrito 1230 00:45:05,099 --> 00:45:07,228 Erik Freeman: and those are simple ingredients as well 1231 00:45:07,509 --> 00:45:10,698 Erik Freeman: just the uh, just beans and and and cheese, 1232 00:45:11,247 --> 00:45:13,257 Erik Freeman: uh, and the way that we griddle it on the 1233 00:45:13,457 --> 00:45:15,628 Erik Freeman: uh, on the grill top but, that also is 1234 00:45:15,688 --> 00:45:17,679 Erik Freeman: because we make the beans fresh in, you 1235 00:45:17,699 --> 00:45:19,529 Erik Freeman: know, and so when you make the beans fresh 1236 00:45:19,589 --> 00:45:21,138 Erik Freeman: and you're and you're mashing these things, 1237 00:45:21,239 --> 00:45:23,591 Erik Freeman: you know fresh, it it does come across in 1238 00:45:23,832 --> 00:45:25,320 Erik Freeman: in the quality of the beans themselves, or 1239 00:45:25,340 --> 00:45:27,759 Erik Freeman: triple washed, uh, dried beans that we get 1240 00:45:27,799 --> 00:45:28,365 Erik Freeman: and cook from scratch. 1241 00:45:28,927 --> 00:45:30,938 Mark Haney: Well, I think the two things, even I'm 1242 00:45:30,978 --> 00:45:32,325 Mark Haney: going with my own personal taste here. 1243 00:45:32,727 --> 00:45:35,580 Mark Haney: So, um, you mentioned the grill, the way 1244 00:45:35,620 --> 00:45:37,447 Mark Haney: you griddle them Okay, I didn't know that 1245 00:45:37,487 --> 00:45:40,535 Mark Haney: that was the terminology and but I also the 1246 00:45:40,595 --> 00:45:41,598 Mark Haney: Parmesan cheese. 1247 00:45:42,046 --> 00:45:44,154 Mark Haney: So I am a fan of that. 1248 00:45:44,916 --> 00:45:46,823 Mark Haney: Uh, that griddle defect, if you will, 1249 00:45:46,883 --> 00:45:49,876 Mark Haney: versus just the crunchy, uh, or you know 1250 00:45:49,896 --> 00:45:51,784 Mark Haney: the, the flour tortilla that doesn't have 1251 00:45:51,805 --> 00:45:54,075 Mark Haney: any, um, you know, hasn't been cooked 1252 00:45:54,497 --> 00:45:55,422 Mark Haney: beyond the original. 1253 00:45:55,582 --> 00:45:56,849 Mark Haney: You know when you, I guess when they 1254 00:45:56,890 --> 00:45:58,540 Mark Haney: originally made it, you kind of griddle 1255 00:45:58,560 --> 00:46:01,211 Mark Haney: them and they taste, you know, hot off the 1256 00:46:01,252 --> 00:46:03,458 Mark Haney: stove type thing and those are great. 1257 00:46:03,820 --> 00:46:08,411 Mark Haney: But I think my son Marcus, he was in here a 1258 00:46:08,471 --> 00:46:10,482 Mark Haney: second before he got in here and he was 1259 00:46:10,582 --> 00:46:13,120 Mark Haney: talking about the Parmesan cheese and 1260 00:46:13,161 --> 00:46:16,208 Mark Haney: that's like something, those two things. 1261 00:46:16,228 --> 00:46:17,912 Mark Haney: I don't think anybody else really does that, 1262 00:46:18,080 --> 00:46:18,341 Mark Haney: do they? 1263 00:46:18,382 --> 00:46:20,249 Mark Haney: I mean, taco Bell doesn't do that stuff. 1264 00:46:20,840 --> 00:46:22,526 Erik Freeman: No, and that's why we term ourselves as the 1265 00:46:22,566 --> 00:46:23,710 Erik Freeman: original American. 1266 00:46:23,780 --> 00:46:25,447 Erik Freeman: It's not necessarily authentic. 1267 00:46:26,364 --> 00:46:28,243 Mark Haney: They don't do that stuff, it's not an 1268 00:46:28,845 --> 00:46:30,270 Mark Haney: authentic Hispanic taco. 1269 00:46:30,620 --> 00:46:31,866 Erik Freeman: We've never made that claim. 1270 00:46:32,301 --> 00:46:33,847 Erik Freeman: We are an American taco. 1271 00:46:34,042 --> 00:46:36,362 Erik Freeman: It's the original American taco my, my 1272 00:46:36,402 --> 00:46:38,629 Erik Freeman: grandfather is, you know he's full blooded 1273 00:46:38,669 --> 00:46:39,111 Erik Freeman: Norwegian. 1274 00:46:39,240 --> 00:46:41,647 Erik Freeman: You know he when, when he was first doing 1275 00:46:41,667 --> 00:46:45,045 Erik Freeman: tacos in 1954, no one knew what, what the 1276 00:46:45,065 --> 00:46:45,868 Erik Freeman: taco was. 1277 00:46:46,922 --> 00:46:47,830 Mark Haney: OK yeah, that was pretty. 1278 00:46:47,870 --> 00:46:49,884 Mark Haney: Taco Bell or Chipotle Certainly, obviously, 1279 00:46:50,321 --> 00:46:50,642 Mark Haney: certainly. 1280 00:46:50,762 --> 00:46:54,035 Erik Freeman: And he came up with a, with a side version 1281 00:46:54,115 --> 00:46:55,881 Erik Freeman: of it, of kind of just putting some 1282 00:46:55,921 --> 00:46:58,748 Erik Freeman: innovation on it and and it tastes, you 1283 00:46:58,768 --> 00:47:00,292 Erik Freeman: know it tastes better. 1284 00:47:00,320 --> 00:47:01,746 Erik Freeman: Yeah, the taste is different. 1285 00:47:02,481 --> 00:47:03,244 Erik Freeman: It's better than anything. 1286 00:47:04,040 --> 00:47:05,505 Erik Freeman: And yeah, we do grill them, you know. 1287 00:47:05,545 --> 00:47:06,728 Erik Freeman: Try them next time you have it. 1288 00:47:06,749 --> 00:47:07,451 Mark Haney: Is it less healthy? 1289 00:47:07,560 --> 00:47:08,664 Mark Haney: I mean, because there's people that are 1290 00:47:08,724 --> 00:47:10,169 Mark Haney: like on these health kicks and stuff like 1291 00:47:10,209 --> 00:47:11,685 Mark Haney: that, but it tastes so good you're not 1292 00:47:11,725 --> 00:47:13,061 Mark Haney: really that worried about it, but is it? 1293 00:47:13,603 --> 00:47:16,170 Erik Freeman: that's about 200 calories per per ground 1294 00:47:16,190 --> 00:47:16,731 Erik Freeman: beef taco. 1295 00:47:17,660 --> 00:47:19,006 Mark Haney: Which honestly isn't bad. 1296 00:47:19,100 --> 00:47:19,862 Erik Freeman: You know, you have your. 1297 00:47:21,246 --> 00:47:23,752 Erik Freeman: You know, I think for a lot of keto people 1298 00:47:23,860 --> 00:47:27,150 Erik Freeman: they would get a lot out of out of our food. 1299 00:47:27,500 --> 00:47:29,009 Mark Haney: OK, so that's a keto item. 1300 00:47:29,060 --> 00:47:31,506 Erik Freeman: The well, the the. 1301 00:47:31,707 --> 00:47:33,993 Erik Freeman: The corn tortilla doesn't necessarily have 1302 00:47:34,113 --> 00:47:36,680 Erik Freeman: a lot of a lot of carbs, a lot of net carbs. 1303 00:47:36,780 --> 00:47:38,146 Erik Freeman: So there's a lot that you can get. 1304 00:47:38,200 --> 00:47:39,665 Erik Freeman: I think, for anybody that has a lot of 1305 00:47:40,046 --> 00:47:41,842 Erik Freeman: fitness aspirations, there's there's 1306 00:47:41,862 --> 00:47:44,790 Erik Freeman: certainly a lot of items that that you can 1307 00:47:44,810 --> 00:47:47,205 Erik Freeman: get that provide a lot of protein, low 1308 00:47:47,245 --> 00:47:49,111 Erik Freeman: carbs, you know so. 1309 00:47:49,460 --> 00:47:51,746 Erik Freeman: But in general, I think the question that 1310 00:47:51,786 --> 00:47:54,561 Erik Freeman: you really want to have is it comes down to 1311 00:47:54,581 --> 00:47:55,445 Erik Freeman: the quality of food. 1312 00:47:55,520 --> 00:47:57,506 Erik Freeman: If you're going to have, you know, a gym 1313 00:47:57,527 --> 00:47:58,800 Erik Freeman: boy, or if you're going to have a taco of 1314 00:47:58,840 --> 00:48:01,086 Erik Freeman: any kind, you know, in general, is it 1315 00:48:01,687 --> 00:48:03,251 Erik Freeman: healthier than that? 1316 00:48:03,471 --> 00:48:04,093 Erik Freeman: That parfait? 1317 00:48:04,640 --> 00:48:06,683 Erik Freeman: Probably not, but what it does. 1318 00:48:07,044 --> 00:48:09,401 Erik Freeman: But but if you are going to have that, do 1319 00:48:09,441 --> 00:48:10,606 Erik Freeman: you want something that's quality? 1320 00:48:10,880 --> 00:48:11,343 Erik Freeman: You know it. 1321 00:48:11,403 --> 00:48:11,805 Erik Freeman: Do you want? 1322 00:48:11,940 --> 00:48:13,166 Erik Freeman: Do you want something that's going to taste 1323 00:48:13,226 --> 00:48:15,706 Erik Freeman: right and it's in, and maybe it doesn't hit 1324 00:48:15,826 --> 00:48:18,201 Erik Freeman: all of your fitness check boxes, but is it 1325 00:48:18,241 --> 00:48:19,786 Erik Freeman: still going to be something that your body, 1326 00:48:19,866 --> 00:48:21,992 Erik Freeman: except accepts versus rejects? 1327 00:48:22,160 --> 00:48:23,544 Erik Freeman: You know, and a lot of people talk about 1328 00:48:23,604 --> 00:48:26,902 Erik Freeman: natural places that have more mass produce 1329 00:48:27,303 --> 00:48:32,372 Erik Freeman: produced items and may not be quite as good 1330 00:48:32,412 --> 00:48:34,231 Erik Freeman: for your, for your body, and your body kind 1331 00:48:34,252 --> 00:48:36,324 Erik Freeman: of rejects it and you can feel that when 1332 00:48:36,364 --> 00:48:39,572 Erik Freeman: you have food that is majorly processed. 1333 00:48:39,860 --> 00:48:42,369 Mark Haney: OK, ok, only a minute left. 1334 00:48:42,400 --> 00:48:43,143 Mark Haney: So what? 1335 00:48:43,725 --> 00:48:45,722 Mark Haney: What did I besides Unless there's something 1336 00:48:45,762 --> 00:48:47,528 Mark Haney: else you want to talk about in terms of the 1337 00:48:47,588 --> 00:48:49,283 Mark Haney: minimum wage, I want to make sure you have 1338 00:48:49,323 --> 00:48:53,045 Mark Haney: a chance to present your organization in a 1339 00:48:53,145 --> 00:48:55,111 Mark Haney: way that you know, because we got kind of 1340 00:48:55,191 --> 00:48:56,817 Mark Haney: technical on wages and stuff like that. 1341 00:48:56,860 --> 00:49:00,161 Mark Haney: But I mean, jim Boyce is a it's a 1342 00:49:00,282 --> 00:49:03,302 Mark Haney: Sacramento success story and there's a 1343 00:49:03,382 --> 00:49:03,824 Mark Haney: reason. 1344 00:49:04,320 --> 00:49:07,208 Mark Haney: So maybe, just maybe, a little sales pitch 1345 00:49:07,328 --> 00:49:09,132 Mark Haney: on Jim Boyce, because there's a reason 1346 00:49:09,180 --> 00:49:09,964 Mark Haney: you've been successful. 1347 00:49:10,580 --> 00:49:12,545 Erik Freeman: Well, I would say that for me personally, 1348 00:49:13,648 --> 00:49:15,783 Erik Freeman: I've I've grown up on the ground Beef taco. 1349 00:49:16,400 --> 00:49:18,546 Erik Freeman: My wife, who I I met. 1350 00:49:18,647 --> 00:49:19,750 Erik Freeman: One of the first things that I learned 1351 00:49:19,770 --> 00:49:21,162 Erik Freeman: about her is that she liked the bean and 1352 00:49:21,203 --> 00:49:22,728 Erik Freeman: cheese burrito with onion. 1353 00:49:23,640 --> 00:49:25,527 Erik Freeman: You know, everybody in Sacramento has a Jim 1354 00:49:25,567 --> 00:49:28,025 Erik Freeman: Boyce story and when the first time that 1355 00:49:28,065 --> 00:49:30,291 Erik Freeman: they tried it because it is different when 1356 00:49:30,331 --> 00:49:32,345 Erik Freeman: we go to different places in the country 1357 00:49:33,007 --> 00:49:35,501 Erik Freeman: people remember Jim Boyce I would invite 1358 00:49:35,542 --> 00:49:39,010 Erik Freeman: anybody that think that a ground beef taco 1359 00:49:39,031 --> 00:49:40,724 Erik Freeman: that has parmesan on the outside might be a 1360 00:49:40,764 --> 00:49:41,326 Erik Freeman: little bit weird. 1361 00:49:41,760 --> 00:49:43,586 Erik Freeman: Just try it and give it a, give it a shot, 1362 00:49:43,686 --> 00:49:44,829 Erik Freeman: you know, and try it. 1363 00:49:45,660 --> 00:49:48,228 Erik Freeman: And maybe that'll be your first story that, 1364 00:49:48,488 --> 00:49:50,242 Erik Freeman: that that you can now share with a fellow 1365 00:49:50,282 --> 00:49:50,885 Erik Freeman: Jim Boyce fan. 1366 00:49:51,821 --> 00:49:52,583 Mark Haney: Eric Freeman. 1367 00:49:52,663 --> 00:49:55,731 Mark Haney: Jim Boyce, taco, third generation CEO, 1368 00:49:56,180 --> 00:49:58,807 Mark Haney: appreciate your leadership in the community 1369 00:49:58,847 --> 00:50:00,543 Mark Haney: and your leadership on this issue, so thank 1370 00:50:00,563 --> 00:50:00,664 Mark Haney: you. 1371 00:50:00,805 --> 00:50:02,073 Erik Freeman: Yeah, thank you very much, Mark, you bet.