- Posted June 20, 2014 by
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CT Electricity Supplier Helps Restaurants Save Some Dough
"We want to make sure every business in CT knows that we're here and that there is a viable, competitive alternative to the utility companies with no surprise increases," said Abest Power's CEO, Frank Rosa. “We communicate with our customers and give them options. We have the resources of a big company with a small company feel “
According to the U.S. Small Business Administration, in 2010 only about half of all new establishments survive five years or more and about one-third survives 10 years or more. Survival rates have changed little over time.
Business partners Buckley Ryan and B.J. Lawless both have extensive experience with business openings and closings, having owned and worked in several restaurants before teaming up to launch B. J. Ryan's Restaurant in Norwalk seven years ago. Shortly after opening, the owners quickly realized the steep cost involved in heating and cooling a 3,500 square-foot eating establishment, full of compressors, ovens, flat screen T.V.’s and busy gas burners that operate 365 days a year. Add in its popular catering service, and the energy costs rise even higher.
Rosa had been a business acquaintance of Lawless for years, and wanted to help the new venture succeed. Rosa suggested that the restaurant switch to Abest and Lawless has been with the power company ever since. Lawless estimates the monthly savings to be over $200 per month, which equates to $2,400 annually compared to the utility.
Like every new enterprise, we needed to keep our overhead as low as possible when we started out,” said Lawless, “I’ve known Frank for years, and when he told me how much we could save on our electricity bill, it just made financial sense to switch.”
When the partners opened a second location in Norwalk four years later, the BANC House, they signed with Abest Power right away. The larger 4,000 square foot location requires even more electricity. The two eateries combined spend an average of $2,500 per month on electricity.
The per kilowatt-hour rate difference of tenths of a cent doesn't seem like much, but for Lawless, the cost savings by buying electricity through Abest Power frees up cash flow for other parts of the business.
"It's important to save in areas I can control, such as my electricity, to better equip me for the things I cannot control, such as recent spikes in wholesale food prices," Lawless adds.
Lawless also appreciates the fact that Abest Power is financially sound company that’s a joint venture partner of Corporate Resource Services, Inc., (NASDAQ: CRRS) a national staffing and technology company. He trusts Rosa and the company to remain a secure option and gives him peace of mind to help better manage his restaurants.
Abest Power offers small to large businesses fixed rate price plans that are designed to protect its customers from sudden price increase. Connecticut Light and Power is raising its electricity rates by 10% starting July 2014 from 9.0 cents to 9.9 cents.
"As a local business ourselves, we certainly want to empower others to grow and thrive," said Rosa. "If we can play a small role in helping a local company, that’s a huge win for us."
Abest Power & Gas is a licensed energy supplier that provides economical and secure energy rate plans for businesses and homes in Connecticut, New York, New Jersey and Massachusetts. Abest Power offers programs and services designed to help lower energy costs and protect customers from sudden price increases. The company maintains a low overhead by running a lean operation to maintain competitive products. Abest Power & Gas was founded by business professionals who have extensive experience in deregulated energy markets. Abest Power & Gas is a privately owned company that is headquartered in Connecticut. Abest Power & Gas, LLC is a joint venture partner of Corporate Resource Services (NASDAQ: CRRS). To learn more visit: www.abestpower.com.
Buckley Ryan and B.J. Lawless teamed up to open B. J. Ryan's at 57 Main St. in Norwalk. The restaurant features a varied menu and an extensive wine & beer list. In keeping with BJ Ryan's tradition, the BANC House 16 River St, Norwalk continues to bring new flavor to Norwalk offering a full menu of regional BBQ and crab favorites, appetizers, sides, and desserts. The B.J. Ryan’s Foundation was created in 2010 as a community-driven base for charitable giving. Building on the friendly spirit of the Norwalk-based restaurants, the foundation provides time, resources and funds to deserving local and regional not-for-profit organizations and individuals in crisis. For more information visit www.bjryans.com.