Bakery Boss Lowell Hawthorne to Moneynews: Consumers Will Eat Cost of Obamacare

Friday, 03 May 2013 12:43 PM

By Glenn J. Kalinoski and Kathleen Walter

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Consumers will ultimately foot the bill for the added costs businesses face from Obamacare and other government regulations, says the co-founder of the largest Caribbean franchise chain in the United States.

“I haven’t zeroed in on the exact percentages as it relates to cost, but I’m quite sure it’s going to be significant,” Lowell Hawthorne, the CEO of Golden Krust Caribbean Bakery and Grill, told Newsmax TV in an exclusive interview.

“We’re looking at a possible price increase in excess of 10 percent.”

Watch our exclusive video. Story continues below.



He says companies face a choice.

“Either you pay the penalties, or you insure all of your employees,” he said. “I’m sure most small businesses will not be able to afford that type of insurance that’s being imposed on small businesses.”

Editor's Note: ObamaCare Secrets Revealed

Hawthorne came to the United States more than 30 years ago from Jamaica. After working for about a decade for the New York Police Department where he was an accountant, he and his siblings started the first Golden Krust Bakery in The Bronx with an investment of $107,000.

The concept has since mushroomed to more than 120 stores in nine states. The company supplies Caribbean foods to major supermarkets like Publix, Winn-Dixie, Costco and Dollar Tree. Revenue exceeds $100 million.

Hawthorne has authored an inspirational, rags-to-riches memoir called “The Baker’s Son: My Life in Business.” In it, he recalls the many challenges he faced as he began his journey toward the American Dream.

Editor's note: To order 'The Baker's Son' at a great price — Click Here Now.

“It wasn’t easy getting loans and finding the right employees,” he said. “Becoming a franchiser, which was very challenging, [we] had to put the right system in place where there’s a marketing manual, compliance manual, human resources, and just being able to develop what I call a cookie cutter system, a system that is able to be easily duplicated and a system where the concept could be duplicated throughout the United States.”

Hawthorne is convinced that small businesses are essential for economic growth.

“It has been a wonderful journey, giving back, providing scholarships, providing jobs for our community, and doing what we do best: taking a taste of the Caribbean to the world,” he said.

Editor's note: To order 'The Baker's Son' at a great price — Click Here Now.

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