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Black Wealth Renaissance

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

Black Wealth Renaissance

Black Wealth Renaissance

Business

4.81.1K Ratings

🗓️ 29 February 2024

⏱️ 78 minutes

🧾️ 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

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0:00.0

McDonald's has entered a Minecraft movie universe,

0:03.0

and Grimmis, Birdie, and Hamburgler

0:05.0

just spawned as new collectibles in the Overworld.

0:08.0

Now for a limited time, you can get one of six McDonald's collectibles

0:12.0

when you order a Minecraft movie meal.

0:15.0

With your choice of Big Mac or 10-piece Chicken McNuggets

0:18.0

with spicy nether flame sauce,

0:20.0

available now in a biome near you.

0:23.0

Oh, and at your local McDonald's.

0:25.0

I participated in McDonald's for a limited time on Minecraft movie only in theaters.

0:30.1

The spirit of innovation is deeply ingrained in America, and Google is helping Americans innovate in ways both big and small.

0:38.8

The Department of Defense is working with Google to help secure America's digital defense systems

0:44.1

from establishing cloud-based zero-trust solutions to deploying the latest AI technology.

0:50.4

This is a new era of American Innovation.

0:53.5

Find out more at g.co slash American Innovation.

0:58.2

We got to appreciate that. We're taking something from nothing, from just our mind and our spirit,

1:04.1

and we are creating value to the point that down the road, somebody wants to give hundreds of millions of dollars,

1:10.4

and we're going to be mad about that? And then if it's someone that has a kind of mindset to do that in the road somebody wants to give hundreds of millions of dollars and we're going to be

1:10.9

mad about that and then if it's someone that has a kind of mindset to do that in the first ways

1:15.1

imagine what they can do now have it do you know what I could do if I was starting out not broke

1:20.0

like we started out and I having to go through bankruptcy so I mean we got to let our people fly and

1:24.8

we got to know everybody's flight might look a little bit different

...

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