The house that fish tacos built
Ralph Rubio and his father opened the first Rubio's Home of the Fish Taco restaurant in the Mission Bay area of San Diego in 1983. Two decades and more than 60 million fish tacos later, Rubio's Restaurants, Inc., headquartered in Carlsbad, operates, licenses or franchises more than 150 Rubio’s restaurants in California, Arizona, Utah, Oregon, Colorado and Nevada and is publicly held: (Nasdaq: RUBO)
Executive's name: Ralph Rubio
Title: Chairman & founder
Company name: Rubio's Restaurants Inc.
Address: 1902 Wright Place, #300, Carlsbad, CA 92008
Phone: (760) 602-3600
Web site:www.rubios.com
Founded: 1989
Prior experience: Worked in the restaurant business waiting tables.
Source of starting capital: Father
2003 revenues: $125 million
2004 revenues: $137.4 million
Average hours worked weekly: Probably around a very manageable 50 hours — since I work out of my car, the office and my home. I'm now chairman of the company, not the CEO. As chairman my role is a little more limited than before and more versital.
Number of teammates: Over 3,000 Rubio's employees
Residence: Solana Beach
Family: Wife and two children.
Hobbies: I love to play tennis. I try to walk on the beach to stay in shape, sometimes with my wife or our dog. I love to swim, but now am a summer surfer, as I get older the water's warmer … My son plays soccer, I'll do workouts with my son. I love to travel especially with my family, New York City, San Francisco, to Europe, My children were admonishing me the other day because, here we are a chain of Mexican restaurants and I'm Hispanic and my wife is Mexicana, and we've never taken them, so it's time to go to Mexico.
What got you into this business? Some 20 years ago, when I was attending San Diego State University, I fell in love with the rich culture and distinct and flavorful tastes and aromas of the Baja Peninsula. Fish Tacos are sold on nearly every street corner throughout Baja. I discovered fish tacos during my many visits to Baja and craved them and couldn't find them in San Diego.
What started as an effort to introduce my family and friends to a slice of the diverse epicurean history of Baja, specifically, the now “World Famous Fish Taco.” Two decades (and more than 60 million fish tacos) later Rubio's is a publicly traded company (NASDAQ: RUBO) serving a diverse menu of freshly prepared Baja-inspired foods.
What makes your business a standout? Our fresh, quality, Baja-inspired food. We believe that Rubio's fish tacos, along with our other authentic offerings, inspire consumers to eat, drink, and relax Baja-style.
Drawbacks to your line of business: Not enough hours in the day.
Why is your company headquartered in Carlsbad? We chose this location because it was really halfway between San Diego and Orange County/L.A. For a time we had some executive team members commuting back and forth. 10 years ago we were expanding outside of San Diego looking to be a more Southern California-centric business. Carlsbad has it all: Our office is a new space, beautifully landscaped, looking at the ocean over Legoland. One of the things I like is that development of Carlsbad's growth is very carefully planned, with an emphasis on maintaining open space and residential spaces. Lots of time we'll entertain folks from out of town at the Company Stores Outlet and then they can go shopping, how neat is that?
How do you plan to grow? We recently announced our multi-year expansion plan. In 2005, we are increasing our development effort and building a pipeline for future new unit expansion. This effort will provide the building blocks for Rubio's successful expansion over the next 3-5 years.
Toughest career decision: That's an easy answer, a couple of years ago we had to close a couple of restaurants and after 20 years it was the first time we had to some layoffs. That was the worst part and I never want to do that again. In most cases we were able to move team members around to other sites, but it was still tough. Recently we've made a lot of changes with our new President Sheri Miksa and we're posted some great numbers.
Ongoing challenges: You know, fast casual dining is always competitive,? you're always fighting for market share against McDonald's and Jack in the Box. I think it says a lot for Rubio's to be out there fighting for space. We're very bullish on the company and that means you have to work harder, smarter.
Best way to stay competitive: The way we're going to be competitive is by being “fresh and affordable.”
Take for example our fresh grilled mahi mahi or chicken with rice, beans and a drink for under $5. Why have a fast food burger when you have fresh food made daily for under $5? We know there are a lot of customers who are anxious to move up to better food and people love that idea, comparable sales are up 4 percent over last year. Innovation starts on the West Coast. Think of Rubio's, Taco Bell and McDonalds! I grew up in Southern California (L.A.) and there are a number of great brands that started locally.
In five years, where would you like your business to be? Growing rapidly again, maybe expanding in to the East. We're creating new jobs, new opportunities for people that allow business and people to grow. Sheri and I would like to get the company back on the growth track, believe it or not, there are people out there who have never been to a Rubio's.
What are your guiding principles? No. 1 — Treat others as you would want to be treated, with respect. It's how we treat others, not only team members but also guests. Like if you were to invite people into your home, it's all about politeness and cleanliness, treating others as you would want to be treated. Rubio's has a commitment to quality.
What's one thing other people do not know about you? In 1999, my wife (Dione) and I opened the Cabo Cafe at the Monarch School. The Cabo Cafe is a casual dining restaurant open to the public, developed and operated on the Monarch premises in downtown San Diego. Cabo Cafe provides job training, real wages to students through part-time employment, and helps support Monarch Programs in many ways.
Through hard work, what began as a wonderful opportunity has become a model for self-sufficiency and success. We offered our development expertise, major capital gifts and ongoing management guidance. Students enjoy the academic opportunity to participate in business planning and management, and many are employed by the Caf?.
Today, the Cabo Cafe continues to serve a delicious breakfast and lunch on the Monarch premises. As of 2002, the restaurant began operating at a profit for the first time. As a result the Cabo Cafe has begun to spawn fresh, new opportunities by funding programs specially designed for the needs of Monarch students.
What would you change if you could do it all over again? I wouldn't change anything, it's been a challenge, but it's the challenges that make life interesting, without the challenges it wouldn't be as dynamic. Everything's gone as it was meant to — we're in a good place.
Choice for a second career: I love to write, I love to read, I've even contemplated going back to school to learn more. I love to travel, so maybe there's something there that goes beyond the business, who can tell?
People you look up to and why: My greatest mentor was my father. He was an entrepreneur and a big believer in owning your own business and a hard worker. His commitment, plus being the oldest of five, meant I'd hang out with my father and learn so much.
Favorite movie(s): “Gladiator” and then “The Godfather.” “Gladiator” is such a great movie on many levels, Maximus is true to himself in the face of adversity in spite of all. The movie has the underlying theme of perserverance and family as he tries to get back to his family. “The Godfather” is a lesson in manhood, themes of dealing with family and business. It's exaggerated and comic book violent but has great lessons on the relationship between sons and their father.
Favorite quote: “Seek and ye shall find.” While the rest of my college class mates from SDSU were drinking beers and eating fish tacos in Baja, I saw an idea for a restaurant chain.
Advice for new entrepreneurs: Eat lots of fish tacos!
Ralph Rubio and his father opened the first Rubio's Home of the Fish Taco restaurant in the Mission Bay area of San Diego in 1983. Two decades and more than 60 million fish tacos later, Rubio's Restaurants, Inc., headquartered in Carlsbad, operates, licenses or franchises more than 150 Rubio’s restaurants in California, Arizona, Utah, Oregon, Colorado and Nevada and is publicly held: (Nasdaq: RUBO)
Executive's name: Ralph Rubio
Title: Chairman & founder
Company name: Rubio's Restaurants Inc.
Address: 1902 Wright Place, #300, Carlsbad, CA 92008
Phone: (760) 602-3600
Web site:www.rubios.com
Founded: 1989
Prior experience: Worked in the restaurant business waiting tables.
Source of starting capital: Father
2003 revenues: $125 million
2004 revenues: $137.4 million
Average hours worked weekly: Probably around a very manageable 50 hours — since I work out of my car, the office and my home. I'm now chairman of the company, not the CEO. As chairman my role is a little more limited than before and more versital.
Number of teammates: Over 3,000 Rubio's employees
Residence: Solana Beach
Family: Wife and two children.
Hobbies: I love to play tennis. I try to walk on the beach to stay in shape, sometimes with my wife or our dog. I love to swim, but now am a summer surfer, as I get older the water's warmer … My son plays soccer, I'll do workouts with my son. I love to travel especially with my family, New York City, San Francisco, to Europe, My children were admonishing me the other day because, here we are a chain of Mexican restaurants and I'm Hispanic and my wife is Mexicana, and we've never taken them, so it's time to go to Mexico.
What got you into this business? Some 20 years ago, when I was attending San Diego State University, I fell in love with the rich culture and distinct and flavorful tastes and aromas of the Baja Peninsula. Fish Tacos are sold on nearly every street corner throughout Baja. I discovered fish tacos during my many visits to Baja and craved them and couldn't find them in San Diego.
What started as an effort to introduce my family and friends to a slice of the diverse epicurean history of Baja, specifically, the now “World Famous Fish Taco.” Two decades (and more than 60 million fish tacos) later Rubio's is a publicly traded company (NASDAQ: RUBO) serving a diverse menu of freshly prepared Baja-inspired foods.
What makes your business a standout? Our fresh, quality, Baja-inspired food. We believe that Rubio's fish tacos, along with our other authentic offerings, inspire consumers to eat, drink, and relax Baja-style.
Drawbacks to your line of business: Not enough hours in the day.
Why is your company headquartered in Carlsbad? We chose this location because it was really halfway between San Diego and Orange County/L.A. For a time we had some executive team members commuting back and forth. 10 years ago we were expanding outside of San Diego looking to be a more Southern California-centric business. Carlsbad has it all: Our office is a new space, beautifully landscaped, looking at the ocean over Legoland. One of the things I like is that development of Carlsbad's growth is very carefully planned, with an emphasis on maintaining open space and residential spaces. Lots of time we'll entertain folks from out of town at the Company Stores Outlet and then they can go shopping, how neat is that?
How do you plan to grow? We recently announced our multi-year expansion plan. In 2005, we are increasing our development effort and building a pipeline for future new unit expansion. This effort will provide the building blocks for Rubio's successful expansion over the next 3-5 years.
Toughest career decision: That's an easy answer, a couple of years ago we had to close a couple of restaurants and after 20 years it was the first time we had to some layoffs. That was the worst part and I never want to do that again. In most cases we were able to move team members around to other sites, but it was still tough. Recently we've made a lot of changes with our new President Sheri Miksa and we're posted some great numbers.
Ongoing challenges: You know, fast casual dining is always competitive,? you're always fighting for market share against McDonald's and Jack in the Box. I think it says a lot for Rubio's to be out there fighting for space. We're very bullish on the company and that means you have to work harder, smarter.
Best way to stay competitive: The way we're going to be competitive is by being “fresh and affordable.”
Take for example our fresh grilled mahi mahi or chicken with rice, beans and a drink for under $5. Why have a fast food burger when you have fresh food made daily for under $5? We know there are a lot of customers who are anxious to move up to better food and people love that idea, comparable sales are up 4 percent over last year. Innovation starts on the West Coast. Think of Rubio's, Taco Bell and McDonalds! I grew up in Southern California (L.A.) and there are a number of great brands that started locally.
In five years, where would you like your business to be? Growing rapidly again, maybe expanding in to the East. We're creating new jobs, new opportunities for people that allow business and people to grow. Sheri and I would like to get the company back on the growth track, believe it or not, there are people out there who have never been to a Rubio's.
What are your guiding principles? No. 1 — Treat others as you would want to be treated, with respect. It's how we treat others, not only team members but also guests. Like if you were to invite people into your home, it's all about politeness and cleanliness, treating others as you would want to be treated. Rubio's has a commitment to quality.
What's one thing other people do not know about you? In 1999, my wife (Dione) and I opened the Cabo Cafe at the Monarch School. The Cabo Cafe is a casual dining restaurant open to the public, developed and operated on the Monarch premises in downtown San Diego. Cabo Cafe provides job training, real wages to students through part-time employment, and helps support Monarch Programs in many ways.
Through hard work, what began as a wonderful opportunity has become a model for self-sufficiency and success. We offered our development expertise, major capital gifts and ongoing management guidance. Students enjoy the academic opportunity to participate in business planning and management, and many are employed by the Caf?.
Today, the Cabo Cafe continues to serve a delicious breakfast and lunch on the Monarch premises. As of 2002, the restaurant began operating at a profit for the first time. As a result the Cabo Cafe has begun to spawn fresh, new opportunities by funding programs specially designed for the needs of Monarch students.
What would you change if you could do it all over again? I wouldn't change anything, it's been a challenge, but it's the challenges that make life interesting, without the challenges it wouldn't be as dynamic. Everything's gone as it was meant to — we're in a good place.
Choice for a second career: I love to write, I love to read, I've even contemplated going back to school to learn more. I love to travel, so maybe there's something there that goes beyond the business, who can tell?
People you look up to and why: My greatest mentor was my father. He was an entrepreneur and a big believer in owning your own business and a hard worker. His commitment, plus being the oldest of five, meant I'd hang out with my father and learn so much.
Favorite movie(s): “Gladiator” and then “The Godfather.” “Gladiator” is such a great movie on many levels, Maximus is true to himself in the face of adversity in spite of all. The movie has the underlying theme of perserverance and family as he tries to get back to his family. “The Godfather” is a lesson in manhood, themes of dealing with family and business. It's exaggerated and comic book violent but has great lessons on the relationship between sons and their father.
Favorite quote: “Seek and ye shall find.” While the rest of my college class mates from SDSU were drinking beers and eating fish tacos in Baja, I saw an idea for a restaurant chain.
Advice for new entrepreneurs: Eat lots of fish tacos!