After 41 years in hospitality and franchising, Paul Damico has seen it all — scaling restaurant brands through explosive growth, navigating economic downturns, selling companies for a combined $90 million, and now revitalizing two iconic, 60-year-old legacy brands: Perkins and Huddle House.

In this episode, Paul sits down with Stan Friedman to share how his career began at Marriott in 1986 before co-founding a 102-unit restaurant portfolio, leading Moe’s Southwest Grill from 160 to 700+ locations, and overseeing more than 5,000 restaurants at Focus Brands.

Now, as CEO of Ascent Hospitality Management, Paul is rebuilding two classic American brands through a back-to-basics approach — deep franchisee engagement, stronger leadership recruitment, operational discipline, and a renewed focus on loyalty over acquisition.

Paul explains today’s biggest shift in restaurant behavior: diners aren’t trading down… they’re disappearing. With fast food no longer a clear value play, he reveals how casual dining may actually reclaim value leadership in the coming years.

He also outlines what he looks for in franchise partners: substantial liquidity, meaningful net worth, portfolio experience, and the ability to open a minimum of five units within three years.

If you want to understand legacy brand turnarounds, strategic franchising, or the next era of restaurant growth — this episode is for you.