2008 Woodie Awards
Stick-e-rice settles in
DU alum opens eatery that started as business idea project
Dan Martin
Issue date: 1/18/05 Section: News
Ton Phairatphiboon, a 2001 Daniels College of Business graduate is back in the campus community as the owner of Stick-e-Rice restaurant/bar on University Boulevard.
The Thai-food venue was originally an assignment for the DCB core class, "Business Plan." The unique eatery has been open for six months near the intersection of University and Evans.
The restaurant imports its namesake, sticky rice, directly from Thailand. Phairatphiboon, originally from Bangkok, said that Stick-e-Rice may be the only restaurant in the United States to carry the naturally glutinous rice.
According to Phairatphiboon, marketing a restaurant around a new product can be risky business.
"The sticky rice is our niche" said Phairatphiboon. "But the real challenge is trying to market a new product like that."
His gamble seems to have paid off, as both Internet reviews at http://www.bestofthecity.com/denver/dining/venue.adp?sbid=137823&type=userreviews and DU students are excited about the food. The restaurant participates in DU's Flex plan.
Freshman Lewie Wilson said, "I've been there three or four times and everything I've had there has been really good."
Marketing the unique rice is only one of many challenges Phairatphiboon has faced in the business world.
At 27, he works six days a week in his fledgling restaurant. Though the restaurant has only been open a short time, Phairatphiboon and his constantly changing staff have had to deal with more than their fair share of problems.
"We didn't know if we could pull it off. Negotiating on the building, and getting the bank loan- that was the toughest part," he said. "We went to every bank in town. It ends up that we are the first restaurant in the history of Colorado to get a loan from UMB bank."
His worries were not over yet, however. After only a few months of Stick-e-Rice's existence, Phairatphiboon was forced to fire his wait staff for defrauding customers.
"I fired some people putting tips on the checks, and I know their handwriting," said Phairatphiboon. "It was tough, especially when we first started. It was definitely a rollercoaster ride."
The Thai-food venue was originally an assignment for the DCB core class, "Business Plan." The unique eatery has been open for six months near the intersection of University and Evans.
The restaurant imports its namesake, sticky rice, directly from Thailand. Phairatphiboon, originally from Bangkok, said that Stick-e-Rice may be the only restaurant in the United States to carry the naturally glutinous rice.
According to Phairatphiboon, marketing a restaurant around a new product can be risky business.
"The sticky rice is our niche" said Phairatphiboon. "But the real challenge is trying to market a new product like that."
His gamble seems to have paid off, as both Internet reviews at http://www.bestofthecity.com/denver/dining/venue.adp?sbid=137823&type=userreviews and DU students are excited about the food. The restaurant participates in DU's Flex plan.
Freshman Lewie Wilson said, "I've been there three or four times and everything I've had there has been really good."
Marketing the unique rice is only one of many challenges Phairatphiboon has faced in the business world.
At 27, he works six days a week in his fledgling restaurant. Though the restaurant has only been open a short time, Phairatphiboon and his constantly changing staff have had to deal with more than their fair share of problems.
"We didn't know if we could pull it off. Negotiating on the building, and getting the bank loan- that was the toughest part," he said. "We went to every bank in town. It ends up that we are the first restaurant in the history of Colorado to get a loan from UMB bank."
His worries were not over yet, however. After only a few months of Stick-e-Rice's existence, Phairatphiboon was forced to fire his wait staff for defrauding customers.
"I fired some people putting tips on the checks, and I know their handwriting," said Phairatphiboon. "It was tough, especially when we first started. It was definitely a rollercoaster ride."