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This is Fred Ball for Zions Bank, speaking on business.
In 1997, Jorge Fierro started selling beans at the Farmers Market in Salt Lake City. Little did he know that his small business enterprise would soon turn into a multi-state operation that supplies products to supermarkets in three different states.
From his early bean-vending experience, Jorge realized the popularity of Mexican cuisine in the Salt Lake area, so he decided to get more involved in the business. Instead of the Americanized versions of typical Mexican dishes, Jorge wanted to prepare his food the way it was done in Mexico. His initial idea was to create a kitchen where he would prepare the product and then distribute it to supermarkets around the valley.
Jorge wrote a business plan, obtained financial support from the Utah Microenterprise Loan Fund and found a location on 800 South and 500 East in Salt Lake City. He officially opened Rico in 1998. Rico comes from the Spanish phrase "Que Rico," which means "how delicious." What a fitting name for this wonderful business!
Rico is most known for its handmade cuisine that includes tamales, burritos, chili rellenos, and tortas. In the beginning, Jorge hired someone to hand make the tortillas and today, that man, Alejandro, makes around 12,000 tortillas per week. Rico products are distributed in 60 different supermarkets in Utah as well as several in Jackson Hole, Wyo. A year and a half ago, Jorge entered the Las Vegas market and sells 75 different products there. He is also in talks to distribute his product in 193 Maverik stores.
Last September, Jorge moved Rico into a new location at 545 W. 700 South in Salt Lake City and was able to expand his market into a restaurant, which has become a popular breakfast and lunch destination. The restaurant doubles as a gallery for Latino artwork. Jorge says the Salt Lake community has been kind to him and he hopes to continue serving it for years to come.
For Zions Bank, I'm Fred Ball. I'm speaking on business.
Rico 550 W. 700 S. Salt Lake City, UT 84101 801-533-9923
