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

Black Wealth Renaissance

Business

4.8 • 1.1K Ratings

🗓️ 29 February 2024

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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: [email protected] ★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

Transcript

Click on a timestamp to play from that location

0:00.0	We've got to appreciate that we're taking something from nothing from just our mind and our spirit and we are creating value to the point that down the road somebody wants to give hundreds of millions of dollars and we're gonna be mad about that?
0:13.6	And then if it's someone that has a kind of mindset to do that in the first ways,
0:17.0	imagine what they can do now have it.
0:19.0	Do you know what I could do if I was starting out, not broke,
0:21.9	like we started out, and haven't to go through bankruptcy
0:24.4	So I mean we gotta let our people fly and we gotta know everybody's flight might look a little bit different
0:29.2	But it's all a win mainstream folks why do they do this stuff all the time.
0:33.3	Private equity funds will buy companies to multiply his value and liquidate it.
0:39.7	I mean that's they're flipping stuff just like it's nothing but a flip
0:43.0	niggas scared to make that move can't relate to that I roll a dice
0:47.4	if I lose gonna be shaken back because lessons learn within the laws
0:51.2	elevate the fact that trial and error just the only way
0:54.2	ain't no escaping that I wake up hit a hundred push-ups then I'm at my route check on my
0:59.4	stocks see how they're looking then I'm sliding out. When you start seeing your progression, you stop having doubts.
1:05.0	And what's the point I have a clout if you can't cash it out?
1:08.0	Truth of this game, but now my life I,
1:10.0	feel like we're fin to change the cycle,
1:12.0	eh, that's no success, you know we're thriving,
1:14.6	hey, that's the most depression for our rivals,
1:16.9	eh, could teach a lesson on survival, hey, you know him from the bottom.
1:20.6	What is good with it, my wealthy people,
1:22.2	it's your boy David Bellard found the CEO of a Blackwell
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Black Wealth Renaissance, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Black Wealth Renaissance and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.