Ep: 214 Building $50M Restaurant Portfolio – Build Wealth With Franchises (Guest: Randy Hazelton)

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2 years ago

Black Podcasting - Ep: 214 Building $50M Restaurant Portfolio - Build Wealth With Franchises (Guest: Randy Hazelton)

Welcome back to another episode of the Black Wealth Renaissance Podcast! In this episode of the BWR podcast, Randy Hazelton, CEO of H&H Hospitality, joins us. This airport concessions conglomerate owns 20 restaurants in major airports in Atlanta, Dallas-Fort Worth, and D.C. In 2023, the restaurant collective generated $50M in Revenue. During this episode, Randy breaks down the airport concessions industry, the benefits of franchising, overcoming bankruptcy, and much more.

3:55 – How Randy Got Started in Airport Concessions

8:10 – Leaving Corporate to Launch His First Restaurant

13:06 – Filing Personal Bankruptcy to Keep the Business Afloat

17:57 – Making His Restaurant Profitable

21:30 – Selling Their First Restaurant to Enter Airport Concessions

25:14 – Why Do People Feel a Way When Black Founders Exit?

28:00 – Learning the Airport Concessions Industry

30:00 – Franchising Vs. Starting Your Own Brand

38:45 – What is the ACDBE Program?

43:30 – Creative JV Partnerships & Scaling the Right Way

48:30 – The Difference Between Franchising and Licensing

58:36 – Standing on Business Presented by thepsbs.com