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

1:03:38 - Randy's Top 2 Money Lessons

1:06:00 - Closing Questions

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