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

Black Wealth Renaissance

Feb 29 2024 • 1 hr 18 mins

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 1:03:38 - Randy's Top 2 Money Lessons 1:06:00 - Closing Questions Leave Us A 5 Star Rating & Review ⭐️⭐️⭐️⭐️⭐️ If you're interested in advertising on the Black Wealth Renaissance podcast, fill out the form below.  https://forms.gle/CHH8L6UU4NxoyD3t7 📧 For Business Inquiries: business@blackwealthrenaissance.com   ★Subscribe on Youtube Black Wealth Renaissance - YouTube Keep Up With the Hosts Randy Hazelton https://www.instagram.com/randyhazelton/?hl=en David Bellard  https://instagram.com/david_bellard https://twitter.com/daviddagoliath_ Jalen Clark  https://instagram.com/_jclark06 https://twitter.com/jefeklap Learn more about your ad choices. Visit megaphone.fm/adchoices