The Summer Fancy Food Show provides an opportunity for restaurants and industry operators to share new flavors, products, and ideas they hope will revolutionize the food industry. During this year’s signature Specialty Food Association (SFA) New York City event, host Paul Barron interviewed a number of emerging industry leaders on the live stage.
One of those interviews was with Otto Cedeno. Cedeno is the founder of popular fast casual Mexican chain Otto’s Tacos. The chain currently maintains four locations that can be found throughout New York City. Barron and Cedeno discussed entrepreneurship and the increasing popularity of fast casual chains.
Otto Cedeno came to New York City to attend college at New York University, and quickly found that something was missing: affordable Mexican food. In 2012, five years after graduating, he decided to create a southern California-inspired taqueria: Otto’s Tacos.
“Entrepreneurship is hot right now,” says Cedeno. “It’s easy to capitalize on great ideas.”
Maintaining a successful business model, however, can be quite difficult. New York City in particular is highly competitive and expensive. To combat this, Otto’s Tacos endeavors to keep things small. The chain only uses ingredients that are readily available and easy to access.
According to Cedano, a successful business excels in three key areas: service, hospitality, and consistent product. “If you focus on those three things,” says Cedano, “everything else can and should be forgivable.”
Third party delivery does add a wrinkle in achieving those three goals. Consumers are increasingly turning to delivery instead of making or going out to dinner, but ever-rising costs and food quality concerns are becoming significant issues for brands.
“‘Fees’ is definitely the buzzword when it comes to third parties,” Cedano affirms. “It’s such a fast-changing business with a lot of rotation. You have to keep your finger on the pulse—otherwise, you may miss a really important beat.”
Check out the video above to learn more about the future of Otto’s Tacos and its growing catering business!