Operating a small family business can be challenging during the best of times. With inflation hovering at 13% in the Phoenix area, staying afloat can mean walking the tightrope of managing higher business costs while keeping prices affordable for customers.
Lunchtime is always busy at Taco Boys, a family-owned restaurant along Roosevelt Row in Phoenix.
"Thank God, thank God we got a loyal fan base. I mean we try to please people," said Juan Francisco Cornejo.
Cornejo's family opened Taco Boys in November 2019. It's survived the COVID business shutdown and now effects of high inflation.
"I'm not going to lie all of our product is more expensive. Meat, cheese, tortillas, I mean anybody who runs the business they understand just how expensive our materials are," Cornejo said.
Cornejo says he raised prices about 30 cents an order. Which, most customers probably didn't notice judging by all the tacos, quesadillas and burritos being sold.
"It's really good. I've been here a number of times. Their food is really wonderful. The price is great and the quality is excellent," said Debbie Gordon as she lunched with friends.
Loyal customers and good food, Cornejo says, are his best hedge against inflation. Randy Mettler, the owner of Duck and Decanter, now celebrating its 50 years of business in Phoenix, wishes that were enough.
"They've been very, very good," Mettler says of his customers, "but as I said, it's peculiar to see your sales go up and your margins go down."
While economists believe the rate of inflation will start to drop, the price of doing business is not expected to come down significantly in the near-term — Leaving businesses like Taco Boys to work hard for every last penny they earn.
