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Budget Waste is a growing
Canadian waste services company located in Calgary Alberta that just made its first
expansion into the Edmonton area, with an eye on continued geographic expansion throughout
North America through acquisitions as well as organic growth
Industrial Services
Waste Solutions
(BDGW-OTCPK)
Budget Waste Inc.
3915 – 61st Avenue SE
Calgary, Alberta T2C 1V5
Phone: 403-255-2900
Jim Can
Chief Executive Officer
Interview conducted by:
Lynn Fosse, Senior Editor
CEOCFOinterviews.com
Published - February 1, 2007
BIO:
Jim Can President, CEO Budget Waste Inc
Jim Can became involved with Budget Waste on October 15,2004 as an accomplished strategist
and marketer, he understood and recognized an opportunity to create a diversified Waste
Solutions/Hauling company like no other.
Offering a rare blend of creative and operational strengths, Jim has achieved exciting
company growth, direction, vision and is recognized for his success in growing contracts
and profits. His strategic approach to building a business includes a philosophy of growth
through acquisition with an emphasis on enhancing value for Budget Waste business
partners, shareholders and employees.
His vision and expertise in business performance is
apparent in his past endeavors, where he created significant impact on profitability and
growth and acquired a strong understanding of both U.S. and Canadian Tax and Securities
Law while working with Carswell Thompson Professional Publishing Corporation from 1997
till 2000.
Jim Can has aided in the financial restructuring of
numerous companies from 2000 till 2007, in the form of reverse take over, private
financing and assistance in achieving a public listing on the NASD-OTCBB and OTCPINK
exchanges.
Jim Can was raised in Germany, where he received most
of his formal education, acquiring an MBA from The Goethe Business School in Frankfurt. He
is fluent in English, German and Turkish. He now resides just outside the Calgary, Canada
city limits with his wife and two children.
Company Profile:
Budget Waste Inc is a leading waste and recycling solutions provider providing services
including roll-off and front end waste containers, portable toilet services, recycling
services and programs, vacuum truck service, hydro-vac service, portable fencing, water
truck services, and residential waste pickup to the commercial, industrial, oilfield,
municipal, and residential markets.
A growth through acquisition strategy as well as
exceeding customers’ expectations in service and reliability will propel Budget Waste
Inc. towards its mandate of becoming the largest waste solutions provider in North America.
CEOCFO: Mr. Can, please tell me about your background
with Budget Waste.
Mr. Can: “My background is that I got
involved with Budget Waste in October 2004 and took control of the company in April, 2005;
was appointed president and CEO of the company. Before that, I was a shareholder of the
company itself. Initially it was brought to my attention by the initial founders of the
company and I was made aware of what type of investment it was. I was interested in waste
companies, so I put some money into the company. As it developed it peaked my interest
more and more and an opportunity presented itself, so I guess that would fit in as a great
investment opportunity and here we are today.”
CEOCFO: Will you
tell us about the waste solutions industry in general?
Mr. Can: “As you may know the construction
industry is at its peak in Canada and specifically in Calgary. The economy is booming now
and the waste industry as it stands and especially with recycling, is one of the hottest
markets. In the past, most companies were not environmentally friendly, but a lot of the
companies are now looking into it. If you compare landfill tipping fees to recycling in
other areas of the country, it is very expensive so recycling is going to be the area to
be in.”
CEOCFO: What do
you do that is different from your competitors?
Mr. Can: “We are one of the only companies
currently in the industry that is offering all solutions in one shot. Most traditional
waste companies offer individual services like front load containers for commercial
companies, residential services, or large bins, we refer to them as large roll offs, or
they only offer small roll-off for the typical construction industry, or water services
for construction companies as well as oil fields. We have the hydrovac and fencing, which
is required by law, so you have to have that for each construction site. With regard to a
recycling program, most companies do not have one we offer all of these services and more.
Therefore, if you take all of those components, we are the only company currently that can
offer a one-stop solution to most of our customers and it seems to be favorable. Before
that, they had to go to several different companies, trying to get their containers here
and their garbage pickup here, and their fencing there. It is a big convenience and it
saves thousands of dollars for the customers if they can deal with one shop and one source
that can provide all of the solutions and we seem to be the only ones out there that is
doing it.”
CEOCFO: Is it on
project-by-project basis or do you have long-term contracts with companies?
Mr. Can: “We have our retail clients and we do
not have contracts with them, they seem to be using us for our services or
cross-referencing us. Traditionally, if a residential client is using us and he or she is
working in the city as well, they would refer us because of our name recognition. For any
of our larger clients that we have been doing business with over the last 5 to 15 years,
we will be entering with them into long-term contracts that will allow them stability and
to have price protection so they will know what their budget is going to be for the next
12-36 months. The economy in the last two years has been crazy and a lot of the clients
want to make sure that they can budget going forward that is one of the things that we can
offer them. With the long-term contract it allows them to deal with us and us to deal with
them; it is a synergy.”
CEOCFO: How do
you deal with the need for additional equipment and facilities as your business grows?
Mr. Can: “It is certainly a challenge; in 2006
the oil industry was booming and there was a shortage of labor. Therefore, we made sure we
hired a lot of people as our trucks and containers were in great demand. We could always
use more, but the current fleet is over 100 trucks it is a substantial fleet; we have
thousands of containers and we want to be in the process of upgrading constantly. Our
fleet has grown by 5% per month and the same is true of our containers. We are going to be
investing a lot of money in infrastructure, technology as well as training and
upgrades.”
CEOCFO: Is most
of your growth by acquisition?
Mr. Can: “Growth by acquisition is a large part
of our growth. In 2006, we acquired nine companies in a very short period. However, our
organic growth is very substantial as well. We have thousands of clients in our customer
base and because we can cross-reference and cross-sell our services and most of our
competitors cannot offer that, it allows us to retain add-ons and certainly our customer
base is very happy about that.”
CEOCFO:
Outstanding customer service is important for Budget Waste; how do you stand out?
Mr. Can: “The service is important, many times
large corporations use automated systems and it is very frustrating. When people have a
certain problem or concern, they would like to speak to someone. We handle everything
internally. Our customer service department is internal; we do not have it automated so
you actual speak to someone live. If there is a concern, you can deal with us directly and
that is what makes us very different vs. talking to an automated system outside the
country somewhere and you have no idea who you are talking to and they certainly
can’t relate to your problem. That makes a substantial difference in our approach.
Our customers appreciate that.”
CEOCFO: What is
the financial picture at Budget Waste?
Mr. Can: “Very good.”
CEOCFO: Your goal
is to be the number-one waste solution partner in North America; where are you
geographically now and how do you plan to achieve that goal?
Mr. Can: “Currently our head office is located in
Calgary Alberta. Approximately four weeks ago, we made the first expansion organically
into the Edmonton area, which is approximately 300 kilometers north of the city. That was
the first step for our dramatic growth. Our anticipated growth over 2007 will be
strategically through acquisitions as well as organically. We have targeted every major
city in Canada that we wish to be in by the end of next year. Our goal is to expand every
three months into larger areas in North America, first in Canada and hopefully do the next
jump across the border.”
CEOCFO: Why
should potential investors be interested in Budget Waste now?
Mr. Can: “I urge each potential investor to come
and visit our site, and they will see what we have accomplished if they can touch, feel
and see what we do. Budget Waste is a company that has accomplished its goals, and I
believe we have surpassed them. We are no longer at the research stage, or no longer at
the hope-we-can deliver stage, we have accomplished many things, we will be accomplishing
more. In terms of stability, we are dealing with a lot of corporations, long-term
contracts, stability and some of these companies are fifteen years old; if you have
companies like that and you have the kind of rapport with customers that he or she is with
you for ten or fifteen years, I think that speaks for itself. We are here to stay and we
plan on being here for a long time to come.”
CEOCFO: Do you
plan on becoming a reporting company?
Mr. Can: “Yes, we just announced last week that
we started our process, it is a 15C to 11 process and it should be complete in a very
short time it is now being reviewed and the moment that is done we will be in touch with
the exchange itself. Upon completion, we will be approved at that point in time our
anticipation is to go to a more recognizable exchange, such as Amex, I believe we are
meeting all of the requirements. Certainly it is the final approval of the exchange.”
CEOCFO: You just
announced a stock dividend; could you tell us about that?
Mr. Can: “I believe the numbers look very good. I
believe in giving back to our shareholders as well. They will be happy and I think it is
warranted at this time; we would like to give our investors an update of how well we are
doing.”
CEOCFO: What
should readers take away from this interview?
Mr. Can: “I believe it should peak their interest
and we urge them to take a closer look at this company and if they have the opportunity to
come and visit our locations and see our partners and customers. I believe they will be
most impressed and it will allow them to get briefly the corporation talk to the people
and get an update. I believe this will give them an understanding in regards to our plans
and strategy and allow them to make their own decision for the future and hopefully we can
make them happy as well.”
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