Kaspars Peregudovs graduated from the Turība University bachelor’s program “Marketing and Sales Management” (currently “International Marketing and Sales Management”) in 2020 and opened his first fast food restaurant “KINGU” in the same year. In these four years, the restaurant has experienced significant growth, expanding to four catering restaurants.

What emotions did you experience when you learned that you were the winner of the Turība University Honorary Award in the “Honorary Graduate” nomination?

I am definitely grateful that I am appreciated for what I do every day and where I have found myself. It also reminded me that I need to go back and finish my studies by obtaining a master’s degree.

How did you come up with the idea of ​​creating your own company?

I had been thinking about starting a company for a long time – since graduating from high school. Of course, there have been various stages in life that prevented me from fully focusing on entrepreneurship.

However, four years before opening my first restaurant, I had made a firm decision to create a company in the catering industry. During this time, I began to develop and improve the concept. It took me four years to not only strengthen my financial situation, but also to prepare myself morally for this challenge.

I have always wanted to work in the catering industry and be connected with the kitchen, but I have never seen myself in the role of a chef, mainly due to financial considerations. I am a very purposeful and ambitious person, and it is impossible to limit me by putting me in a frame as a simple employee in the position of a chef. Thus, I decided to become an entrepreneur in this industry.

Was that the only reason why you chose to create a company in the catering industry?

I also chose the fast food segment because it was close to me – I knew this area, I had researched a lot about how the fast food concept is created in America, England and elsewhere, where it has long been popular. The concept that we started creating in Latvia has been known in America since the thirties. I saw that this niche had great potential in Latvia, and later we also added the kebab concept, which is still one of the most popular fast food products in Latvia. The demand for it is very high, and we see it ourselves every day, observing the high sales. We were essentially the founders of this industry in Latvia, because we chose a market niche that was already known and in demand, but we were able to offer a much more interesting and innovative solution. This also allowed us to establish ourselves as a market leader.

What qualities should a good entrepreneur have?

It is difficult for me to give a specific answer to this question, because each person in business evaluates themselves individually. However, I can share the traits and qualities that help me feel confident and comfortable in what I do.

First, it is important to be purposeful. Everything we do is subordinate to a specific goal, and all tasks are designed to achieve it. Our company is four years old, and during this time we have opened four locations. I believe that in the future we will be able to achieve global scales, because I have great ambitions – another quality that is essential in this industry.

Secondly, I always look broadly and think globally. It is very important to be a doer in business – I prefer action to overthinking. I do not particularly assess risks, and although I do not know if this is always right, so far it has not significantly disappointed me. I act according to the principle: the more you do, the more you achieve. If I make mistakes, these are opportunities to learn and grow. My approach is to do first and only then analyze the result.

Thirdly, the ability to prioritize and abandon unnecessary things is important. You have to believe in what you want to achieve. Of course, the goals you set must be logically evaluated – you need to understand the market, analyze demand and understand what products or services will be needed.

What are the biggest challenges in the catering industry?

This industry is never stable, and that is a challenge. For example, last year we worked with a turnover of 1.5 million euros, but this year I am sure that we will be able to reach 2.5 million. Although we are a large company, stability has always been a problem. The company has been rescued from insolvency and large debts three times. This shows that finances are a complex aspect of the catering business, because from purchasing ingredients to serving food, there are many stages where mistakes can occur that can harm customer loyalty, and this is very important for us.

There are many different costs in this business, and the deadlines for preparing food create additional risks. Therefore, I would like to emphasize that the catering industry is difficult to control and there are many risks in it.

However, the most difficult thing in this industry is the employees. The whole business largely depends on them. I can run the company, but the quality of the food and its preparation are the responsibility of the employees. They are the ones who can either improve or ruin the business. We are in the fast food industry, where salaries are low compared to other industries, but they correspond to the market level. Often the employees do not have the appropriate education, and the kitchen may be unfamiliar to them.

In addition, there is a large volume of consumption of fast food in the world, which means that it is very difficult to maintain speed and quality at a high level. These challenges force the company to constantly look for solutions and adapt.

How has Turība helped you in your career development?

Of course, Turība has given me a good foundation, for example in marketing and sales, but I must admit that the biggest benefit for me was my part time studies. In full-time studies, mostly young people who have just graduated from high school and have not yet gained life experience study. In contrast, in correspondence studies, the situation was different – ​​I was one of the youngest students, and experts in various fields with extensive experience studied with me. Such an environment made me change my way of thinking and evaluate what kind of life path I want to take.

What are your hobbies outside of work, how do you relax?

I work a lot, because our company is only four years old, and my ambitions are much greater than we are currently able to realize. I want to actively develop and grow in this field, so I rest very little in Latvia. But I always make time for sports. I do CrossFit every day. I have been practicing MMA fighting for ten years. Sport gives me energy and helps me maintain balance.

In the last two years, I have also turned to mountaineering, which helps me get rid of accumulated tension and look at life from a different perspective. So far, I have reached four peaks, and this year I plan to add three more.

My next big goal is to climb the eighth highest peak in the world by next year. In addition, I travel a lot, often alone. Traveling helps me not only get to know the world and myself, but also develop an understanding of the catering business on a global scale. When opening my last restaurant, I got inspiration from at least four different countries.

Where do you see yourself in 10 years?

I know specifically where I want to see myself in ten years in business, but I can’t say that I have thought much about where I will be in my personal life.

I have set small goals in my personal life - I want to achieve financial independence, as well as reach Everest and the world’s fourth highest mountain, Lodz, in one expedition, of course, when I am financially and mentally ready for it.

All the other goals for the decade are related to the company. In ten years, I see us continuing to develop this company, with franchises elsewhere in the world, at least in Europe.

And now we have grown with several production plants and concepts. These ideas have been clear to me for a long time. As I told my partner at the beginning, I don’t want to open just 2-3 locations - I want a hundred locations all over the world. Therefore, we are working step by step to make “KINGU” a global brand.

Where do you find inspiration when you want to give up on everything?

As I emphasized earlier, it is traveling and mountaineering that allow you to draw inspiration, reflect, and be with yourself. I like being alone. I know how to calm myself down, inspire myself anew, and continue to grow and develop.

In business, I am also inspired by the fact that four years have passed and we have been able to grow and develop in four years.

What would you recommend to young people who want to study?

Study and find like-minded people around you who can contribute to you and you to them. University is the right place for that. I also recommend setting goals and striving for them. There is no need to think too much, you have to take risks and do it.