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Speaker 1: There's almost nothing new on the sun.

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Speaker 2: So anything you want to get into, take the time

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Speaker 2: to like study, talk to people that have done it.

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Speaker 2: Go work in the McDonald's if you want to open

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Speaker 2: the McDonald's or a restaurant for yourself, but take the

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Speaker 2: time to better quit yourself for what's coming. The fundamentals

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Speaker 2: have been done, the successes can be studied, the phase

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Speaker 2: can be studied. So I would say, like, take the time,

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Speaker 2: do yourself a favor and do that. Save yourself some time,

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Speaker 2: some money, and some stress and frustration, and like go

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Speaker 2: do the homework.

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Speaker 3: Everybody votes to ano episode of Butter. I'm the host

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Speaker 3: Brandon Butler FOUTACYEO of Butter at yelling today. That's somebody

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Speaker 3: special in the building, my guy, the one and only

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Speaker 3: mister Randy Hazels and Randy, how you doing today, Bro.

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Speaker 1: Brandon, It is a pleasure to be here with you today.

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Speaker 1: I'm doing great, man, I'm doing great.

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Speaker 3: Good man. You know you're building up everything, you know,

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Speaker 3: opening up new buildings, restaurants all so we got some

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Speaker 3: good stuff to talk about. Man, you ready for this? Yeah?

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Speaker 1: Man, I just trying to sell Hamburgers, just one at

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Speaker 1: a time.

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Speaker 3: That you're doing a good job at man. Well, look

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Speaker 3: what I do with all my guests when they come on,

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Speaker 3: we do something a little bit different. I know people

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Speaker 3: want to kind of know who you are and what

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Speaker 3: you do. But what I do is, Man, I put

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Speaker 3: you in chat GVT brother, and I said, Chat, I

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Speaker 3: want you to write a bio and tell the people

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Speaker 3: who Randy is. I'm gonna read you what TVT said,

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Speaker 3: because I'm just saying, man, like I want you let

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Speaker 3: me know.

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Speaker 1: Is it only I've never I have never seen my

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Speaker 1: bio with Chatt. I'm curious.

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Speaker 3: You gotta do this. I'm showing you something, all right.

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Speaker 1: Look.

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Speaker 3: Randy Hailsen is the owner and CEO of H and

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Speaker 3: H Hospitality and Atlanta based company operating more than fifty

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Speaker 3: restaurants across the country, including quick service and full service

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Speaker 3: concepts in major airports. He got his start in two

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Speaker 3: thousand and eight is one of the original founders of

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Speaker 3: Cafe Circuit in Atlanta, learning entrepreneurship the hard way through

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Speaker 3: bankruptcy and rebuilding. Since then, he has scaled into franchise

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Speaker 3: and with national brands, and now develops his own franchise

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Speaker 3: ready concepts. Beyond hospitality, Randy invests in CpG tech and

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Speaker 3: pharmaceutical ventures, serves on board such as the Fearless Fund,

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Speaker 3: and is deeply engaged in Atlanta's economic development and community growth.

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Speaker 1: That is unbelievable. Brother, that is UNBELI we are here.

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Speaker 1: We have no idea, no idea.

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Speaker 3: You may yeah, gott gotta put yourself in chat and

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Speaker 3: see what it comes back.

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Speaker 1: I mean that there is nothing that is that is

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Speaker 1: wrong about that.

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Speaker 3: See I got the two hundred dollars version. So look, man, Reddy,

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Speaker 3: thanks for pulled up. Man. Yeah, man, because those of

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Speaker 3: those know, man, tell people what is h and a hospitality? Brother?

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Speaker 2: So hh hospitality is an airport concessions company, which all

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Speaker 2: that means is that we own and operate restaurants and airports.

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Speaker 1: So that's what we do. Atlanta is home and headquarters.

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Speaker 2: We have between between units that we operate one hundred

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Speaker 2: percent and joint ventures we own about seventeen. And then

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Speaker 2: we have locations in Dallas, Texas, in Washington, d C.

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Speaker 2: And in the Midwest by way of Tulsa, Oklahoma.

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Speaker 3: Okay, Now, now how did you get started in this?

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Speaker 1: Like?

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Speaker 3: Are you gonna tell me a story about how you

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Speaker 3: used to work? In the McDonald's a long time ago,

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Speaker 3: and they pisched you off. You said, I can buy

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Speaker 3: all this stuff. Like, how did you get involved in

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Speaker 3: this business? Now?

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Speaker 1: I wasn't that smart man.

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Speaker 2: I jumped right into the right into the restaurant business

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Speaker 2: before that. So I came out of college and did

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Speaker 2: you know we're supposed to do coming out of college,

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Speaker 2: Go get a nine to five at a corporate firm,

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Speaker 2: and I hold.

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Speaker 1: It, did that and I worked.

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Speaker 2: I worked in corporate America for about two years, two

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Speaker 2: and a half year, and it just wasn't for me.

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Speaker 2: I mean, it just was not something I get comfortable with.

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Speaker 2: The culture was felt foreign to me. I was I was.

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Speaker 2: I was selling products or responsible for products that I

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Speaker 2: wasn't attached to, and I had to get out of it.

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Speaker 2: So the first thing was figuring out what I did

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Speaker 2: not want to do, which was not being a corporate America.

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Speaker 2: I left what I had a plan and was hanging out,

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Speaker 2: I mean really just hanging out in Atlanta mid twenties.

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Speaker 2: I had I had a little bit of money saved

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Speaker 2: aside from the money I'd saved from Corporate America, and

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Speaker 2: I was also flipping real estate and that was going

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Speaker 2: well at the time.

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Speaker 1: I was like two thousand and four or five six when.

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Speaker 2: The mark was out, so I'd stashed some money away

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Speaker 2: so I could like take some time as a mid

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Speaker 2: twenty something, which was really just being outside, like hanging out.

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Speaker 1: And so me and one of a good.

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Speaker 2: Friend of mine spent a lot of time hanging out, frankly,

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Speaker 2: like hanging out in lounges and bars and restaurants. And

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Speaker 2: before we blew our whole bag, figured, you know, we

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Speaker 2: should do this ourself, like before we run out of money.

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Speaker 2: And because we spent so much time on the consumer side,

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Speaker 2: thinking that was all you needed to do it, let's

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Speaker 2: open a restaurant. So we came together, pulled our money,

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Speaker 2: open our first restaurant, and that was a restaurant by

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Speaker 2: the name of Cafe Circa on edgew what Avenue that

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Speaker 2: chat gpt.

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Speaker 1: So quickly highlighted.

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Speaker 2: So that was the first go and that that is

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Speaker 2: where we learned restaurants Like that was our first kind

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Speaker 2: of introduction to what it meant to run a restaurant.

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Speaker 1: We didn't study it beforehand.

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Speaker 2: We didn't work at McDonald's like you said, I wish

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Speaker 2: we would have, but we just jumped right in.

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Speaker 3: Now what was it like jumping right in? Because I

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Speaker 3: mean cafe circuit is still there today. You know, it's

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Speaker 3: somewhat of a well known spot, almost the institution, I

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Speaker 3: would say, especially on Edgewood, like everybody knows the cafe

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Speaker 3: circuit is. Like when you think about that time, what

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Speaker 3: do you remember most about those days? Like what was

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Speaker 3: that space? Was? Was it a restaurant before? Like just what

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Speaker 3: do you remember about that?

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Speaker 1: When I remember most?

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Speaker 2: Stress, stress is what I remember most, Marandon, I mean

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Speaker 2: we I mean we were young. I mean it was

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Speaker 2: a lot of fun. We were learning a lot, but

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Speaker 2: it was hard. I remembered how hard restaurant operations was.

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Speaker 2: I mean it looks easy, or it looked easy to

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Speaker 2: us as a guest, as a consumer's patron, going in

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Speaker 2: ordering what you want, getting it quickly. But on the

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Speaker 2: other side of that, it's hell. And so I remember figuring,

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Speaker 2: I mean I remember it feeling like we just didn't

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Speaker 2: have a handle on it, and and working every day,

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Speaker 2: bell to bell for years to get a handle on

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Speaker 2: it and to get it to perform financing, meaning like

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Speaker 2: make money. And so I just remember like the scramble

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Speaker 2: and the struggle to do that. That's like, that is

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Speaker 2: my most vivid memory.

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Speaker 3: Did what did that experience kind of teach you about

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Speaker 3: entrepreneurship because there was there was a time in which

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Speaker 3: I've owned a restaurant for a little bit, bless you,

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Speaker 3: you tell you I learned my lesson very quickly, like

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Speaker 3: just in seeing this, seeing how the staff works, and

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Speaker 3: like just dealing with the patrons. There's a lot of

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Speaker 3: stuff people don't see, right, So like even and that

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Speaker 3: was recent for me, but like, what were some of

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Speaker 3: the big entrepreneur of entrepreneurship like lessons that you learned

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Speaker 3: while you were doing that?

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Speaker 2: So the best the first one is and I'm talking

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Speaker 2: about this a lot. It's just like there's nothing new.

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Speaker 2: There's almost nothing new on the sun. So anything you

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Speaker 2: want to get into, take the time to like study,

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Speaker 2: talk to people that have done it.

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Speaker 1: Go work in the.

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Speaker 2: McDonald's if you want to open the McDonald's or a

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Speaker 2: restaurant for yourself. But take the time to do the

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Speaker 2: study to better equip yourself for what's coming. Because it's

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Speaker 2: been done before, generally speaking, mineus some nuances. I mean,

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Speaker 2: the fundamentals have been done. The successes can be studied

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Speaker 2: the phase can be studied. So I would say, like,

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Speaker 2: take the time, do yourself a favor, and do that,

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Speaker 2: because when you do not, you will make mistakes. And

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Speaker 2: in business, mistakes cost money, every single one of them.

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Speaker 2: And like if you accrue too many mistakes, go out

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Speaker 2: of business. That's that's essentially what happens. And so save

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Speaker 2: yourself some time, some money, and some stress and frustration,

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Speaker 2: and like go do the homework. The second thing I

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Speaker 2: would say is people are everything. We talked about this

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Speaker 2: a little bit. People are everything, and being successful in

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Speaker 2: business isn't about being cool, even though being cool can

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Speaker 2: like get the kind of attention out of get you,

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Speaker 2: you know, opportunity, but it really is about performing and executing,

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Speaker 2: and to do that you need a team, and if

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Speaker 2: people are on the team, have to be equipped with

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Speaker 2: the things that help enable that success. So like, it

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Speaker 2: ain't about your friends or your unfortunate or your family

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Speaker 2: or the person that seems like, I mean, you need

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Speaker 2: people that are that are one trustworthy but also capable,

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Speaker 2: have work ethic competency, that kind of thing to kind

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Speaker 2: of go get the bigger job done.

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Speaker 3: Yeah, man, you know it's interesting because I know I've

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Speaker 3: experienced this a number of times myself, and like starting

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Speaker 3: businesses when you think about it, and I don't think

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Speaker 3: people really fully understand, right, like when you build something,

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Speaker 3: especially a lot of black entrepreneurs, right, like we we're

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Speaker 3: probably doing it with our own money. A lot of

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Speaker 3: folks don't go into these opportunities when you know, for

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Speaker 3: like a bunch of funding, right, and so you're really

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Speaker 3: kind of trying to make it happen. And so I

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Speaker 3: know what happened for me with what my companies was.

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Speaker 3: I mean, yeah, you hire people that you know, you

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Speaker 3: hire your friends because that's what you can afford, you know,

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Speaker 3: and all of a sudden, it gets to a point

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Speaker 3: where it's like whall, wait a minute, Like this might

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Speaker 3: not be you might not be the right person for this.

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Speaker 3: And again, like bro, the team is so important, and

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Speaker 3: like there's so much on you already as the person

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Speaker 3: that's trying to build the thing and trying to make

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Speaker 3: it happen, you know, like it literally like it's like

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Speaker 3: I don't know if you've ever read the Netflix manifesto, right,

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Speaker 3: but like Netflix when they first started, they had this

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Speaker 3: manifesto and they said, look, when you think about working

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Speaker 3: at Netflix, like we're not a family. We are a team, yes,

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Speaker 3: but more importantly, we are a professional sports team and

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Speaker 3: so we expect you all to operate like professionals and athletes.

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Speaker 3: But understand, if you can't do the job, we will

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Speaker 3: replace you with somebody else that can do the job,

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Speaker 3: because that is what a team will. I mean, we're

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Speaker 3: seeing it right now with the Falcons, like we love

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Speaker 3: I love cool. They'll get it to Georgia Southern. But bro,

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Speaker 3: if you can't make the kicks, we need a kicker,

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Speaker 3: because we are a professional team, and we will go

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Speaker 3: out and get a better kicker if that's what's needed.

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Speaker 3: And it's so funny that even the lady that wrote

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Speaker 3: that for Netflix, at a certain point she got replaced

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Speaker 3: because it was the same thing. They were like, look,

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Speaker 3: have you have gone as far as you can go

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Speaker 3: with us based on your skill sets for the next part,

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Speaker 3: you know, and like and they would they would literally

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Speaker 3: tell people, They're like, yeah, you can go on vacation.

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Speaker 3: You could take a limited vacation, but just know that

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Speaker 3: if while you're gone, we realize that we can do

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Speaker 3: this without you, or we can find somebody better, you

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Speaker 3: might not. And so that's how Netflix I mean it

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Speaker 3: was like a very competitive culture, right, but like that's

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Speaker 3: what it really takes to kind of like build a

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Speaker 3: high performance team. Right.

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Speaker 2: Ye I didn't I didn't know that came from Netflix. Yeah,

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Speaker 2: so you just you just educated me onto something. But

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Speaker 2: I've heard that before. In that is one hundred percent true.

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Speaker 2: We need to know that at the end of the day,

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Speaker 2: you can get the job done, and particularly when it's

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Speaker 2: crunch time, like cool kick in the field going, this

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Speaker 2: is the difference between winning and losing, and nobody gets

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Speaker 2: it right all the time, but we need to know

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Speaker 2: that generally speaking, you give him the ball, he got

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Speaker 2: it right, because what happens is when you don't lose,

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Speaker 2: you compromise championships, you compromise general success, and you put

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Speaker 2: everybody else at risk. So it's not you can't be

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Speaker 2: overly personal about it because there's a bigger responsibility and

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Speaker 2: everybody got to be tied to that. That's something I

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Speaker 2: really like that one. Yeah, a team not a family.

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Speaker 3: It's true, it's true. I mean again, like that's the

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Speaker 3: part of leadership. I don't think that people really understand,

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Speaker 3: like in order to achieve great things, you have to

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Speaker 3: have a great team around you and a lot of

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Speaker 3: times again with us, Like I've noticed it. It's very

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Speaker 3: interesting because I noticed it especially at one of my

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Speaker 3: last agencies. Right, Like, the guys that start that agency,

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Speaker 3: they were able to start that agency with a certain

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Speaker 3: level of funding, so they were able to go out

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Speaker 3: and acquire certain talent, and so that allowed them to

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Speaker 3: go straight out the blocks. Right then it's like you

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Speaker 3: look at Okay, but if I'm starting something and I

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Speaker 3: only got the maintenance of my bank accounts and I

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Speaker 3: can only get this that I have a different kind

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Speaker 3: of talent, and so you see the difference, and you

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Speaker 3: see how having the right people on the boat, and

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Speaker 3: you know, it was something that a guy used to

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Speaker 3: work with would say, and like when he first said

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Speaker 3: it, it kind of pissed me off, But the more I

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Speaker 3: thought about it made since he said my job, his

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Speaker 3: job as a leader, was to edit the team. That's

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Speaker 3: what he would call it now because it kind of

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Speaker 3: sounds like an asshole move. I'm not gonna lie, But

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Speaker 3: when you think about it, he's like, no, like there's

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Speaker 3: I have that's my responsibility because if this thing doesn't work,

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Speaker 3: it's bigger than me. There are other people here and

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Speaker 3: all of a sudden, if we lose this client because

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Speaker 3: we don't have the people to actually execute on it,

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Speaker 3: all of y'all out of a job. So what's more

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Speaker 3: important like this one person who's trying to get by,

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Speaker 3: or like making sure the whole totality of the team

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Speaker 3: is on top of it, right, So to find those

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Speaker 3: right people.

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Speaker 2: And it also does not mean that because we're looking

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Speaker 2: at like a team a lot of family, that it's

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Speaker 2: like cold, right, or that there is no hair or

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Speaker 2: there is no culture. What I've found is that A

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Speaker 2: plus players, which is what we like. I mean, we

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Speaker 2: got a soug in our company, A plus players only,

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Speaker 2: that's all we want to hire.

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Speaker 1: A plus players can't stand a sea level player.

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Speaker 2: Right, and a Sea level player can't stand an A

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Speaker 2: plus player because they always push it. But what you

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Speaker 2: find is you find a lot of cohesion among that

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Speaker 2: that like talent level, like a plus player, they bond

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Speaker 2: over winning the championship, making things and and and Sea

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Speaker 2: level players do on whatever that is mediocrity or if

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Speaker 2: you call it so, you still have the same level

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Speaker 2: of culture and cohesion intogetherness. But you gotta be like minded,

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Speaker 2: and you gotta be operating on similar values to achieve that.

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Speaker 2: But it doesn't mean that you're that you're colding.

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Speaker 3: No, absolutely, And I think.

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Speaker 2: That's what a lot of people get, you know, kind

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Speaker 2: of kind of get that.

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Speaker 1: That means y'all don't get No, we have something bigger

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Speaker 1: to do here.

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Speaker 3: Y'all don't understand how much we care. Like that's the

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Speaker 3: thing you got to Like, you don't trust me if

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Speaker 3: you had you have many things wrapped up, Like I'm

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Speaker 3: sure you with fifty restaurants and all this stuff, You've

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Speaker 3: got a lot invested in this, you know what I'm saying. So, like,

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Speaker 3: I don't think people really understand how much you really

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Speaker 3: do care about all this stuff working together, all this

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Speaker 3: stuff coming together. Like there was a great book I

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Speaker 3: read a couple of years ago called Radical Candor, and

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Speaker 3: so I always say that's probably one of the best

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Speaker 3: books on leadership that I've ever read. If you haven't

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Speaker 3: read it, check it out. And like, so what it

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Speaker 3: talks about is it's the idea that like, if you're

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Speaker 3: on a if you're on a team, you should have

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Speaker 3: the ability to be radically candid with your coworkers. But

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Speaker 3: what does that mean? Right, So the example I always

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Speaker 3: kind of give is you think about in the heat

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Speaker 3: of a sports game. You know, it's basketball game, right,

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Speaker 3: Steph Curry bringing the ball up to court and he's

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Speaker 3: trying to get the offense set up and he tells somebody,

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Speaker 3: get your ass over there. Like that person doesn't stop

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Speaker 3: and say, hey, Steph, don't talk to me like that.

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Speaker 3: That hurts my feelings. No, Like they have built a

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Speaker 3: relationship to where they could be radically candid with each

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Speaker 3: other and he can just say what he's trying to

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Speaker 3: say and you don't interpret it, you don't add your

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Speaker 3: own meaning to it. You're like, well, you know what

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Speaker 3: if I get my ass over there, he's gonna give

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Speaker 3: me the ball and I can score and there's a

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Speaker 3: bigger play. And so it talks about just being able

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Speaker 3: to have like this's just radical conversations with your people

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Speaker 3: that you work with, and it's those kind of relationships, right,

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Speaker 3: And so I get it goes back to caring. It's

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Speaker 3: not about being heartless or cold. Look, I've had I've

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Speaker 3: had bosses that are jerks. I've had boss and I

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Speaker 3: have no desire to want to be one of those people.

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Speaker 3: But like I get, I have a lot wrapped up

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Speaker 3: in what I have built. You have a lot wrapped

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Speaker 3: up in what you have built, right, and so you

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Speaker 3: want to have the ability to talk to adults like adults.

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Speaker 1: It's right and on time. But that, by the way,

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Speaker 1: who wrote who wrote that book I'm looking at?

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Speaker 3: I get it.

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Speaker 2: I mean there's another one's a guy on the named

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Speaker 2: Marie Dolly who's got a he's got a similar philosophy.

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Speaker 1: Run that which is radical transparency. Yeah, but it's just.

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Speaker 2: But also in that is it eliminates misinterpretation, Like when

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Speaker 2: I say get your ass over there, it's hard to

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Speaker 2: confuse what I mean?

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Speaker 1: Was it?

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Speaker 2: Like, well, could you please take a left behind it?

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Speaker 2: Like I need you gotta have people like everyone has

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Speaker 2: to be a line into the same vision and the

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Speaker 2: same task and the same strategy. And how you get

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Speaker 2: that across as communicating one way or the other. And

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Speaker 2: so the straighter you can be about it eliminates misinterpretation,

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Speaker 2: which means that we're more likely to be moving in

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Speaker 2: the same direction. So again it all goes back to

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Speaker 2: caring about what the bigger objective is, so that we're

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Speaker 2: all aligned and taking care.

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Speaker 3: Of so you run the circle that's going like how

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Speaker 3: did you start getting to the airport space.

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Speaker 1: I don't know.

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Speaker 2: I mean, I swear, I mean I was in there

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Speaker 2: just humping just I mean, being making drinks. I'm on

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Speaker 2: the line, I'm sweeping up, I'm cleaning bathrooms and wait

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Speaker 2: until I'm doing everything in this business.

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Speaker 1: But what would happen.

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Speaker 2: Is that, I mean one, we were literally in that

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Speaker 2: business every day, and which means on a weekly basis,

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Speaker 2: because that's a while we were pretty popular. We got

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Speaker 2: to meet thousands of people regularly because we're in there

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Speaker 2: all the time and we're talking to people all the time,

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Speaker 2: and in meeting those people, we were exposed to some

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Speaker 2: conversations with folks that happen to be in airport concess

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Speaker 2: just organically we come to our place like what we

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Speaker 2: were doing, like the arm Beyonce, like the food, and

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Speaker 2: came to like us, and we'd just start talking and

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Speaker 2: a few of those opened up that conversation to us.

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Speaker 2: It's like, oh, hate is what we do. Have you

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Speaker 2: ever thought about airport concessions? Man, I don't know what

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Speaker 2: that is. But then I started learning about what that is.

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Speaker 2: I was like, Wow, this seems pretty this seems pretty compelling.

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Speaker 1: And so we.

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Speaker 2: Went, we kind of dove into those conversations more intentionally,

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Speaker 2: so how to ask about, well, what are what would

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Speaker 2: be some ways that we could do this together with

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Speaker 2: the people that came and talk to us about it

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Speaker 2: and anyway, And those conversations led to ultimately doing a

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Speaker 2: deal to get in the restaurant, partnering my company with

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Speaker 2: a larger company.

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Speaker 1: So it really happened.

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Speaker 2: Organically from working there every day, building relationships and just

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Speaker 2: being curious, I mean, really just being curious about the

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Speaker 2: kind it's.

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Speaker 1: Never coming away.

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Speaker 2: Okay, all right, So I wish I could say added

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Speaker 2: on Matt down, I just knew from the beginning we're

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Speaker 2: gonna go do this.

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Speaker 1: I was gonna be an all.

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Speaker 3: These I had no idea, just for context, like tell

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Speaker 3: us about what are the restaurants like here in Atlanta

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Speaker 3: Hartsfield the business airport in the world, Like what are

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Speaker 3: the restaurants that you all own and manage?

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Speaker 2: So we own and manage we have a shake shack.

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Speaker 2: I'm trying to think on a local level afresh to

404
00:17:23,960 --> 00:17:28,760
Speaker 2: order the Onion's pretzel. We did something with Bobby Flay

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Speaker 2: and a joint venture of Bobby's Burgers. We have a

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Speaker 2: fresh and Yogurt was a local yoga company. As about

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Speaker 2: to hunch of stores. We have a Buffalo Wow Wings

408
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Speaker 2: under construction. Now we have a couple of proprietary brands

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Speaker 2: that we have developed. I'm really excited about what else

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Speaker 2: do we have. Gosh, we have a Sam Adams Brewery,

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Speaker 2: uh Sweetwater for twenty brew house.

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Speaker 1: It's kind of a mix of stuff.

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Speaker 2: The airport will kind of tell you the types of

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Speaker 2: businesses you want, but they want, and then you go

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Speaker 2: find the brand. So we have we kind of range

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Speaker 2: a gamut from burgers to pizza to salads and bowls

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Speaker 2: to you know, fast to full service, and we kind

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Speaker 2: of run kind of have a mixed brand portfolio.

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Speaker 3: Okay, So I didn't even realize that. So there's multiple

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Speaker 3: there's different types of restaurants that you all actually own

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Speaker 3: and operating, not just like one type specifically at the airport.

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Speaker 2: Yeah, because the way the airport does it is all

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Speaker 2: so the airport owns the real estate, the physical I

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Speaker 2: mean the city owns the physical airport. And when lisas expire,

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Speaker 2: so you lease the spaces when they expire, the airport

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Speaker 2: will say, okay, these leases are going to expire, we

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Speaker 2: need some new businesses, new brands. We have ten spaces,

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Speaker 2: and in this ten spaces, we want a coffee shop,

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Speaker 2: a pizza shop, a burger plate. And come bring us

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Speaker 2: your best bid, your best proposal to occupy these spaces.

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Speaker 2: And so you'll you'll go find these mix of businesses,

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Speaker 2: which is why you end up operating a.

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Speaker 1: Mix of stuff.

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Speaker 3: Okay, all right, are you all one of the largest

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Speaker 3: concessionaires at the airport? Is there?

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Speaker 1: No? I mean, yeah, no, not even not even so,

437
00:18:57,040 --> 00:18:59,080
Speaker 1: but I'm working on it. Okay, I'm working on it.

438
00:18:59,160 --> 00:19:00,000
Speaker 3: Yeah.

439
00:19:00,560 --> 00:19:06,520
Speaker 2: So in nationally, like eighty percent of the airport food

440
00:19:06,560 --> 00:19:10,000
Speaker 2: and beverage or concession space is controlled by like five companies,

441
00:19:10,040 --> 00:19:14,320
Speaker 2: oh eighty These are all multinational multi being other companies

442
00:19:14,600 --> 00:19:19,320
Speaker 2: from Spain, from Italy, from London, we call them primes.

443
00:19:19,680 --> 00:19:22,879
Speaker 2: Majority on farms at o'deal. They will come in and

444
00:19:24,000 --> 00:19:26,200
Speaker 2: because they have the resource take down large squads of

445
00:19:26,240 --> 00:19:32,080
Speaker 2: businesses generally do that. So they own sixty plus percent

446
00:19:32,280 --> 00:19:38,840
Speaker 2: of the Atlanta Airport concessions businesses. Minority businesses like mine

447
00:19:39,000 --> 00:19:42,040
Speaker 2: tend to make up about forty percent. And in that mix,

448
00:19:42,240 --> 00:19:45,879
Speaker 2: I am, you know, maybe top five.

449
00:19:46,240 --> 00:19:48,480
Speaker 1: Okay, you know, so we've made our way and it's hard.

450
00:19:48,600 --> 00:19:49,399
Speaker 1: It's hard to compete.

451
00:19:49,440 --> 00:19:51,639
Speaker 2: I mean, it's expensive enough, but we've made our way

452
00:19:51,640 --> 00:19:54,200
Speaker 2: to continue to grow and I would like to I'm

453
00:19:54,240 --> 00:19:55,240
Speaker 2: looking to be the prime.

454
00:19:55,440 --> 00:19:57,080
Speaker 1: Okay, that's what I'm working on.

455
00:19:57,200 --> 00:19:59,920
Speaker 3: Okay, now again, what's also interesting when you talk about

456
00:20:00,080 --> 00:20:03,359
Speaker 3: kind of the portfolio companies you all have, like, you know,

457
00:20:03,600 --> 00:20:05,920
Speaker 3: especially going from Cafe Circle, which is something that you'll

458
00:20:05,960 --> 00:20:08,120
Speaker 3: literally built from the ground up, a lot of these

459
00:20:08,160 --> 00:20:10,879
Speaker 3: are it sounds like franchises and like partnerships, right, Like,

460
00:20:11,400 --> 00:20:12,880
Speaker 3: you know, how do you kind of compare those two

461
00:20:12,920 --> 00:20:16,720
Speaker 3: approaches of a franchise versus like building a concept from scratch.

462
00:20:17,200 --> 00:20:19,240
Speaker 1: Yeah, I mean, man, that's a great question. I put

463
00:20:19,280 --> 00:20:19,560
Speaker 1: it like this.

464
00:20:19,720 --> 00:20:24,000
Speaker 2: So the SBA says that sixty five percent of new

465
00:20:24,040 --> 00:20:27,320
Speaker 2: businesses fail within I want to say, it's in the

466
00:20:27,440 --> 00:20:30,359
Speaker 2: three or five years, don't. I mean, yeah, it's one

467
00:20:30,440 --> 00:20:36,080
Speaker 2: of the other where ninety percent of franchise businesses over

468
00:20:36,119 --> 00:20:39,960
Speaker 2: the same time period succeed. So so the question like,

469
00:20:40,000 --> 00:20:43,320
Speaker 2: how do I look at those two? It is much smarter, much,

470
00:20:43,720 --> 00:20:48,600
Speaker 2: much much smarter to get a franchise business that has

471
00:20:48,640 --> 00:20:52,240
Speaker 2: a proven track record of success and just plug and play.

472
00:20:52,240 --> 00:20:55,080
Speaker 2: They give you the playbook. They give you everything from

473
00:20:55,080 --> 00:21:00,920
Speaker 2: the menus to the brand designs to the staff kind

474
00:21:00,920 --> 00:21:04,520
Speaker 2: of structure. Just just run the playbook and they help

475
00:21:04,600 --> 00:21:07,400
Speaker 2: you with site selection like where to put a location

476
00:21:07,560 --> 00:21:10,359
Speaker 2: to ensure success. But you're coming in with all this

477
00:21:10,560 --> 00:21:14,320
Speaker 2: institutional knowledge and support to help you be successful when

478
00:21:14,359 --> 00:21:17,000
Speaker 2: you do it yourself like we did because we didn't

479
00:21:17,040 --> 00:21:19,399
Speaker 2: know better and we didn't think much. We just jumped.

480
00:21:19,880 --> 00:21:24,000
Speaker 2: Like you're figuring out every piece practically along the way.

481
00:21:24,320 --> 00:21:25,959
Speaker 2: And I don't know, I mean, I haven't met too

482
00:21:26,000 --> 00:21:29,199
Speaker 2: many people that the first time out doing anything like

483
00:21:29,359 --> 00:21:32,359
Speaker 2: do it well the first time, And that's essentially what

484
00:21:32,359 --> 00:21:34,119
Speaker 2: you're setting yourself up well, not that it can't be

485
00:21:34,160 --> 00:21:35,560
Speaker 2: done and you got something burning in your heart in

486
00:21:35,560 --> 00:21:36,640
Speaker 2: your mind, you've got to get out.

487
00:21:36,520 --> 00:21:40,360
Speaker 1: Into the world, go for it. But the numbers, like statistically,

488
00:21:41,000 --> 00:21:43,840
Speaker 1: the numbers are with the folks that get proven businesses

489
00:21:44,119 --> 00:21:46,399
Speaker 1: and just copy and paste. And if I could do

490
00:21:46,480 --> 00:21:50,320
Speaker 1: it over, I love Cafe Sircam Ball Let's some.

491
00:21:50,280 --> 00:21:53,200
Speaker 2: Great people, but I promise you I would have started

492
00:21:53,200 --> 00:21:53,960
Speaker 2: with a franchise.

493
00:21:54,280 --> 00:21:56,080
Speaker 1: As matter of fact, I have a.

494
00:21:56,080 --> 00:21:59,720
Speaker 2: Friend of mine that started with a franchise the same

495
00:21:59,760 --> 00:22:03,439
Speaker 2: time we started with Cave Serga and today I think

496
00:22:03,960 --> 00:22:08,560
Speaker 2: he's on forty stores, but all on his own. And

497
00:22:08,600 --> 00:22:11,920
Speaker 2: he was building a lot faster than I over time

498
00:22:12,080 --> 00:22:14,960
Speaker 2: and didn't have like didn't go through bankruptcy like I went.

499
00:22:15,359 --> 00:22:17,760
Speaker 2: I mean it was very proodent with financial performance and

500
00:22:17,760 --> 00:22:19,240
Speaker 2: stacking mind. I mean he didn't have the kind of

501
00:22:19,240 --> 00:22:21,320
Speaker 2: hardships I had. Yeah, I would have done it like that.

502
00:22:21,840 --> 00:22:24,720
Speaker 3: For somebody who wants to get involved in the franchise space,

503
00:22:24,760 --> 00:22:26,080
Speaker 3: like what would you kind of tell them before they

504
00:22:26,160 --> 00:22:26,840
Speaker 3: jump into it?

505
00:22:27,359 --> 00:22:30,800
Speaker 2: First thing is like do again do your homework, but

506
00:22:30,880 --> 00:22:36,920
Speaker 2: also figure out what your interests are from a business standpoint,

507
00:22:36,920 --> 00:22:39,439
Speaker 2: because you can franchise any type of business you can imagine.

508
00:22:39,600 --> 00:22:41,480
Speaker 2: It's people just think restaurants, and that's a big one.

509
00:22:41,520 --> 00:22:43,840
Speaker 2: I think that's the biggest bucket of franchise. But there's

510
00:22:43,920 --> 00:22:49,720
Speaker 2: janitorial services, there are financial services, there is home repair services.

511
00:22:49,760 --> 00:22:52,840
Speaker 2: I mean like literally anything you can think of there

512
00:22:52,840 --> 00:22:55,639
Speaker 2: are franchise businesses for it. So figure out what of

513
00:22:55,720 --> 00:22:58,159
Speaker 2: those businesses make the most sense for you, for your

514
00:22:58,240 --> 00:23:00,479
Speaker 2: know how, for your competency. They all come with different

515
00:23:01,520 --> 00:23:04,280
Speaker 2: requirements of time that you're gonna have to work. No

516
00:23:04,480 --> 00:23:07,919
Speaker 2: there's no but but there are some differences there, and

517
00:23:08,000 --> 00:23:10,000
Speaker 2: so figure out kind of where your best fit is

518
00:23:10,040 --> 00:23:12,720
Speaker 2: and then start to learn whatever industry that is, and

519
00:23:12,760 --> 00:23:16,119
Speaker 2: then within that industry, start to really dissect the different

520
00:23:16,160 --> 00:23:18,320
Speaker 2: brand options. But it comes back to kind of doing

521
00:23:18,359 --> 00:23:21,800
Speaker 2: your homework based on your own interest and skill sets.

522
00:23:22,200 --> 00:23:23,920
Speaker 3: If somebody want to look at the franchises, like do

523
00:23:23,960 --> 00:23:26,000
Speaker 3: you have, like you have any resources that you would recommend.

524
00:23:26,000 --> 00:23:27,399
Speaker 3: I mean, obviously they can just google and kind of

525
00:23:27,440 --> 00:23:29,520
Speaker 3: check around, but are there you know, I know there's

526
00:23:29,600 --> 00:23:32,720
Speaker 3: you know, conventions and things, expos and stuff, but like

527
00:23:32,720 --> 00:23:34,639
Speaker 3: where would they Where would you advise people to go

528
00:23:34,680 --> 00:23:37,199
Speaker 3: to educate themselves more about the franchise opportunities that are

529
00:23:37,200 --> 00:23:37,479
Speaker 3: out there?

530
00:23:37,560 --> 00:23:37,800
Speaker 1: Yeah?

531
00:23:37,920 --> 00:23:40,480
Speaker 2: So I think I think the biggest franchise kind of

532
00:23:40,760 --> 00:23:45,959
Speaker 2: international platform is called IF a International Franchise Association.

533
00:23:47,600 --> 00:23:48,640
Speaker 1: They are kind.

534
00:23:48,400 --> 00:23:53,760
Speaker 2: Of that that central nerve for the franchise industry from

535
00:23:53,840 --> 00:23:57,119
Speaker 2: resources and who's doing what and what's propping up and

536
00:23:57,160 --> 00:23:58,520
Speaker 2: they have a lot of good data behind that. I

537
00:23:58,560 --> 00:24:04,679
Speaker 2: would say there is is a conference called NRA, not

538
00:24:04,760 --> 00:24:08,760
Speaker 2: the National Rifle Association, the National Restaurant Association. They do

539
00:24:08,800 --> 00:24:10,400
Speaker 2: it once a year and you kind of get all

540
00:24:10,440 --> 00:24:14,439
Speaker 2: the players in the restaurant business kind of in one room.

541
00:24:14,800 --> 00:24:16,479
Speaker 2: I mean it's a big room and it makes up

542
00:24:16,520 --> 00:24:18,919
Speaker 2: like ten or twelve football fields. I mean it's a

543
00:24:19,000 --> 00:24:21,720
Speaker 2: huge But what you get to see is like all

544
00:24:21,760 --> 00:24:24,639
Speaker 2: the different players that are out there, who's winning and losing,

545
00:24:24,640 --> 00:24:27,560
Speaker 2: what are the emerging kind of trends and technologies. They

546
00:24:27,560 --> 00:24:30,919
Speaker 2: have really good sessions, really good speakers. So that's another

547
00:24:30,960 --> 00:24:35,399
Speaker 2: good resource. And then another one, I would say, and

548
00:24:35,440 --> 00:24:37,520
Speaker 2: I'm biased because I'm thinking about food and beverage, but

549
00:24:37,600 --> 00:24:40,919
Speaker 2: QSR magazine where a kind of list It'll tell you

550
00:24:40,960 --> 00:24:44,600
Speaker 2: the fastest growing franchise franchises in the industry. It'll tell

551
00:24:44,600 --> 00:24:47,200
Speaker 2: you the hot the top performing franchise in the industry.

552
00:24:47,320 --> 00:24:49,000
Speaker 2: So there are outlets like that where you can start

553
00:24:49,000 --> 00:24:51,399
Speaker 2: to gather information. And then of course, just with Chad

554
00:24:51,480 --> 00:24:53,760
Speaker 2: and Ai, I mean there's an endless amount of just

555
00:24:53,760 --> 00:24:55,600
Speaker 2: search you can do to kind of kind of learn

556
00:24:55,640 --> 00:24:56,879
Speaker 2: where things are moving.

557
00:24:57,119 --> 00:24:59,080
Speaker 3: Yeah, and I know you kind of mentioned there's lots

558
00:24:59,119 --> 00:25:01,120
Speaker 3: of different franchise not kind of want to dig into

559
00:25:01,200 --> 00:25:04,000
Speaker 3: that too, But like from a capital standpoint, I mean,

560
00:25:04,200 --> 00:25:06,200
Speaker 3: obviously I know you can speak probably more about the

561
00:25:06,200 --> 00:25:08,040
Speaker 3: restaurants space than anything else, But like what kind of

562
00:25:08,080 --> 00:25:10,320
Speaker 3: capital will be talking about for somebody to Again, I

563
00:25:10,359 --> 00:25:13,720
Speaker 3: know it varies, but like just ballpark wise, like what

564
00:25:13,840 --> 00:25:14,560
Speaker 3: do people be thinking.

565
00:25:14,800 --> 00:25:19,360
Speaker 1: Yeah, I mean, it definitely varies. On the low end.

566
00:25:19,520 --> 00:25:22,560
Speaker 1: If you're talking like let's say janitorial services, right, which is.

567
00:25:22,520 --> 00:25:28,520
Speaker 2: Probably one of the lower capital intensive, like less expensive

568
00:25:28,920 --> 00:25:33,240
Speaker 2: business types to get into. You're probably talking between twenty

569
00:25:33,440 --> 00:25:35,560
Speaker 2: and fifty thousand, I think on the high end, and

570
00:25:35,600 --> 00:25:39,400
Speaker 2: that's you know, the heavy duty cleaning equipment, that kind

571
00:25:39,400 --> 00:25:39,720
Speaker 2: of thing.

572
00:25:40,960 --> 00:25:42,160
Speaker 1: It can go up to.

573
00:25:43,680 --> 00:25:46,280
Speaker 2: Restaurants like I think the average McDonald's might be two million,

574
00:25:46,600 --> 00:25:48,800
Speaker 2: but by the same token, Chick fil A only requires

575
00:25:48,840 --> 00:25:50,800
Speaker 2: ten to twenty thousand of your own capital. Now that's

576
00:25:50,840 --> 00:25:52,359
Speaker 2: a whole of the process. It's hard, you got to

577
00:25:52,359 --> 00:25:55,160
Speaker 2: apply for it, and it's very competitive, but even in

578
00:25:55,200 --> 00:25:56,439
Speaker 2: the different industries as.

579
00:25:56,280 --> 00:25:58,399
Speaker 1: A range all the way up to owning.

580
00:25:58,960 --> 00:26:02,120
Speaker 2: I mean I was watching the the Netflix docu saries

581
00:26:02,400 --> 00:26:05,080
Speaker 2: on the Cowboys. I mean that's a franchise. Yeah, but

582
00:26:05,240 --> 00:26:06,960
Speaker 2: he spent I don't know, I think he spent like

583
00:26:06,960 --> 00:26:08,600
Speaker 2: three hundred million when he bought it. That was back

584
00:26:08,640 --> 00:26:12,399
Speaker 2: in so it ranges. But I would try to start

585
00:26:12,400 --> 00:26:15,040
Speaker 2: where you are. Start with the capital that you have

586
00:26:15,640 --> 00:26:17,359
Speaker 2: and in the industry that makes sense for you. But

587
00:26:17,400 --> 00:26:19,639
Speaker 2: it can range from the tens of thousands on the

588
00:26:19,680 --> 00:26:23,200
Speaker 2: low end up to the multi millions or better, depend.

589
00:26:23,080 --> 00:26:23,679
Speaker 1: On what you want to do.

590
00:26:24,280 --> 00:26:26,240
Speaker 3: What have you kind of learned again when it comes

591
00:26:26,240 --> 00:26:28,400
Speaker 3: to raising money, because I mean there's money out there,

592
00:26:28,440 --> 00:26:30,720
Speaker 3: but like you know, again, people want to invest in

593
00:26:30,880 --> 00:26:33,000
Speaker 3: winners and things that happen. Like, what have you kind

594
00:26:33,000 --> 00:26:34,520
Speaker 3: of learned when it comes to like raising money for

595
00:26:34,560 --> 00:26:35,200
Speaker 3: these ventures?

596
00:26:35,440 --> 00:26:37,560
Speaker 1: It's hard. First thing is most people ain't want to

597
00:26:37,600 --> 00:26:40,480
Speaker 1: give you money, especially when you're starting out. I mean,

598
00:26:41,920 --> 00:26:43,160
Speaker 1: so when.

599
00:26:43,119 --> 00:26:46,640
Speaker 2: We started with Cafe Circa, I talked to every bank

600
00:26:46,720 --> 00:26:49,440
Speaker 2: I knew to talk to around here, talk to a

601
00:26:49,480 --> 00:26:52,560
Speaker 2: lot of business owners. But the truth of the matter

602
00:26:52,720 --> 00:26:55,720
Speaker 2: is we had never not even run a restaurant. We

603
00:26:55,800 --> 00:26:57,240
Speaker 2: never run a business period.

604
00:26:57,640 --> 00:27:00,919
Speaker 1: So all we had was an idea in no outside

605
00:27:00,920 --> 00:27:03,720
Speaker 1: of corporate America, and this wasn't a corporatedeavor. So smart

606
00:27:03,760 --> 00:27:06,480
Speaker 1: Money's like, I don't that's that's that doesn't seem like

607
00:27:06,520 --> 00:27:12,040
Speaker 1: a bet to place. There's nothing that would suggest that

608
00:27:12,080 --> 00:27:16,119
Speaker 1: this makes for like a pretty short return. So no

609
00:27:16,160 --> 00:27:18,359
Speaker 1: one gave us money. The people that gave us money

610
00:27:18,760 --> 00:27:20,880
Speaker 1: were the ones that loved us. It was like friends

611
00:27:20,880 --> 00:27:24,560
Speaker 1: of family. And so now we had savings. We did

612
00:27:24,600 --> 00:27:27,199
Speaker 1: the whole credit card, cash advanced we I mean, we

613
00:27:27,840 --> 00:27:29,760
Speaker 1: like max those all the way out. We did all

614
00:27:29,760 --> 00:27:32,000
Speaker 1: that boots trapping type of stuff. But you gotta be

615
00:27:32,080 --> 00:27:37,200
Speaker 1: prepared to be very innovative on the front end because

616
00:27:38,480 --> 00:27:41,240
Speaker 1: people are not going to see you as a short thing.

617
00:27:42,119 --> 00:27:46,800
Speaker 1: What happens over time if you perform is that your

618
00:27:46,840 --> 00:27:51,119
Speaker 1: track record will start to speak for yourself and capital

619
00:27:51,200 --> 00:27:53,720
Speaker 1: raising becomes a lot easier. But you got to earn

620
00:27:53,800 --> 00:27:57,480
Speaker 1: that through performance. And unfortunately, I wish I could say, man, listen,

621
00:27:57,520 --> 00:27:59,720
Speaker 1: you're starting out, just call this number. They got all

622
00:27:59,760 --> 00:28:00,000
Speaker 1: the money.

623
00:28:00,480 --> 00:28:02,960
Speaker 2: I promise you, there is no number when you're starting

624
00:28:02,960 --> 00:28:06,240
Speaker 2: out if you don't have it. Oftentimes that's why they

625
00:28:06,280 --> 00:28:08,000
Speaker 2: say friends and family because I don't want to do it,

626
00:28:08,000 --> 00:28:10,800
Speaker 2: because they doing it from the heart, not from necessarily

627
00:28:11,240 --> 00:28:13,240
Speaker 2: the head, which is okay, that's that's how we got it.

628
00:28:13,840 --> 00:28:16,920
Speaker 2: But then yeah, over time it gets easier if you're performing.

629
00:28:17,520 --> 00:28:17,879
Speaker 1: Okay.

630
00:28:18,119 --> 00:28:19,560
Speaker 3: One of the things we were talking about that was interesting,

631
00:28:19,640 --> 00:28:22,880
Speaker 3: especially we talk about, you know, just franchises that aren't

632
00:28:22,880 --> 00:28:24,960
Speaker 3: in the food spaces. You and I were kind of

633
00:28:25,000 --> 00:28:28,000
Speaker 3: having a conversation off of about the Patel family and

634
00:28:28,040 --> 00:28:29,800
Speaker 3: how they own like just tell people like about the

635
00:28:29,800 --> 00:28:32,200
Speaker 3: Patel family and how they own was like almost eighty

636
00:28:32,200 --> 00:28:33,600
Speaker 3: percent of all hotels.

637
00:28:33,800 --> 00:28:34,040
Speaker 1: Yeah.

638
00:28:34,200 --> 00:28:37,000
Speaker 2: So it's the funniest thing because this goes back to

639
00:28:37,040 --> 00:28:40,160
Speaker 2: like corporate cooperative economics. We was just talking about raising money.

640
00:28:40,680 --> 00:28:43,400
Speaker 2: I do think there's an opportunity within our community to

641
00:28:43,560 --> 00:28:49,760
Speaker 2: pull money cooperatively and help fund ourselves. Another conversation that

642
00:28:49,840 --> 00:28:53,200
Speaker 2: we can talk about. But so the Patel family, the

643
00:28:53,280 --> 00:28:57,800
Speaker 2: Patels are an ethnic Indian group, like like from the

644
00:28:57,840 --> 00:29:02,560
Speaker 2: country India, you know, Southeast Asians. It's an ethnic group

645
00:29:03,000 --> 00:29:08,040
Speaker 2: that migrated to Uganda and they began opening businesses. And

646
00:29:08,280 --> 00:29:12,560
Speaker 2: under the reign of ed I mean, who was, you know,

647
00:29:12,600 --> 00:29:18,640
Speaker 2: a dictator type of leader, he felt that foreigners were

648
00:29:18,920 --> 00:29:21,520
Speaker 2: getting too much of the business, too much to national resources,

649
00:29:21,520 --> 00:29:24,520
Speaker 2: too much of land. So he kicked the foreigners out

650
00:29:24,600 --> 00:29:28,400
Speaker 2: of Uganda and reclaimed these, you know, the natural resources

651
00:29:28,440 --> 00:29:32,240
Speaker 2: and businesses for the country itself. And so this group

652
00:29:32,240 --> 00:29:35,560
Speaker 2: of ptels, who among the businesses they had in Uganda

653
00:29:35,560 --> 00:29:38,040
Speaker 2: were hotels, they had to flee the country and they

654
00:29:38,080 --> 00:29:42,120
Speaker 2: went elsewhere. And what they did was they took their

655
00:29:42,200 --> 00:29:45,280
Speaker 2: know how from running businesses and running hotels in Uganda

656
00:29:45,560 --> 00:29:48,240
Speaker 2: to where they settled, and they all pulled their money

657
00:29:49,080 --> 00:29:54,120
Speaker 2: and bought hotels like as a cooperative, and they fired

658
00:29:54,120 --> 00:29:56,640
Speaker 2: all the labor there and they were the labor. They

659
00:29:56,680 --> 00:30:00,160
Speaker 2: worked for free in support of the bigger vision of

660
00:30:00,160 --> 00:30:02,720
Speaker 2: of getting this hotel to financially perform. So they lived

661
00:30:02,720 --> 00:30:07,080
Speaker 2: in the hotel, they worked the hotel, which means that

662
00:30:07,120 --> 00:30:09,440
Speaker 2: they can compete on price because well, we're not paying

663
00:30:09,440 --> 00:30:11,200
Speaker 2: these high labor calls because we're doing it and we're

664
00:30:11,200 --> 00:30:14,040
Speaker 2: willing to make that sacrifice. So they they had a

665
00:30:14,080 --> 00:30:16,040
Speaker 2: successful model because they could price low.

666
00:30:15,920 --> 00:30:17,880
Speaker 1: Which means it was attractive for people to come and

667
00:30:17,880 --> 00:30:21,200
Speaker 1: stay hotel. It was cheaper. They copy and pasted that model,

668
00:30:21,880 --> 00:30:23,440
Speaker 1: and you guys can trace this back and don't take

669
00:30:23,480 --> 00:30:25,280
Speaker 1: my word for it. I mean this is like history

670
00:30:25,120 --> 00:30:29,640
Speaker 1: that is studying and documented and today that ethnic group

671
00:30:29,680 --> 00:30:32,440
Speaker 1: that Ptel's we think it's just a last name. It's

672
00:30:32,480 --> 00:30:37,160
Speaker 1: an ethnic group that now has like eighty percent of

673
00:30:37,200 --> 00:30:40,440
Speaker 1: the hotel real estate to this day in this country

674
00:30:40,960 --> 00:30:43,480
Speaker 1: under their ownership. Because they built up that capacity they

675
00:30:43,520 --> 00:30:47,600
Speaker 1: built up the kind of capital, they built up the understanding,

676
00:30:47,600 --> 00:30:49,920
Speaker 1: they built up a competitive ads to be really good

677
00:30:49,960 --> 00:30:56,280
Speaker 1: at that, and they did so by executing cooperatively as

678
00:30:56,320 --> 00:30:59,560
Speaker 1: they group. And so but that's what they did.

679
00:31:11,200 --> 00:31:13,000
Speaker 3: What do you think it would take for because I mean, again,

680
00:31:13,040 --> 00:31:16,200
Speaker 3: like we talked about cooperative economics, and I agree with you,

681
00:31:16,240 --> 00:31:18,120
Speaker 3: there's there's a lot of money that's you know, even

682
00:31:18,160 --> 00:31:20,920
Speaker 3: locked up in our communities. Like what could we start doing,

683
00:31:21,040 --> 00:31:23,520
Speaker 3: is you know, black people, especially Atlanta, to start working

684
00:31:23,520 --> 00:31:26,360
Speaker 3: more cooperatively in that space and maybe start doing a

685
00:31:26,400 --> 00:31:27,040
Speaker 3: similar play.

686
00:31:27,600 --> 00:31:28,560
Speaker 1: Yeah, I mean, and I'll say.

687
00:31:28,480 --> 00:31:31,440
Speaker 2: It's tough, Like our history in this country is tough,

688
00:31:31,560 --> 00:31:36,120
Speaker 2: and there were efforts made such that we you know,

689
00:31:36,280 --> 00:31:38,680
Speaker 2: kind of were divided, like a house divided would not

690
00:31:38,760 --> 00:31:42,760
Speaker 2: stand type shit. So we have some natural skepticism. I

691
00:31:42,800 --> 00:31:46,280
Speaker 2: believe that the traces all the way back. But what

692
00:31:46,440 --> 00:31:48,760
Speaker 2: I think is that, frankly, we just have to get

693
00:31:49,120 --> 00:31:52,480
Speaker 2: the fuck over it because no one's coming to save anybody.

694
00:31:52,640 --> 00:31:55,160
Speaker 2: I mean, as an individual, as a community, as you

695
00:31:55,240 --> 00:31:58,280
Speaker 2: name it, we are our own safety votes. And I

696
00:31:58,280 --> 00:32:01,520
Speaker 2: think when we realize that if we and it can

697
00:32:01,560 --> 00:32:03,760
Speaker 2: start just kind of start where you are, like in

698
00:32:03,800 --> 00:32:06,360
Speaker 2: your community and your network of friends and your neighborhood

699
00:32:06,400 --> 00:32:12,360
Speaker 2: and your city, and and commit to backing something that

700
00:32:12,480 --> 00:32:19,720
Speaker 2: has been through rigorous diligence and and thought and just

701
00:32:19,800 --> 00:32:22,280
Speaker 2: kind of flushing out the viability of But like commit

702
00:32:22,760 --> 00:32:27,800
Speaker 2: as a group to backing something like the Betels did hotels,

703
00:32:28,480 --> 00:32:31,760
Speaker 2: and and and start kind of where you are. Start small,

704
00:32:32,080 --> 00:32:34,400
Speaker 2: and and like prove the model, prove success, and then

705
00:32:34,480 --> 00:32:36,360
Speaker 2: kind of copy and paste. But you gotta you gotta

706
00:32:36,400 --> 00:32:38,959
Speaker 2: start with something. And I'm not saying we all come

707
00:32:39,000 --> 00:32:40,880
Speaker 2: together across all of any states and one fails suit.

708
00:32:40,920 --> 00:32:43,280
Speaker 2: That's hard to coordinate. But just start where you are.

709
00:32:43,320 --> 00:32:46,400
Speaker 2: You got a group of a dozen people or a

710
00:32:46,440 --> 00:32:51,440
Speaker 2: couple dozen people that that have enough to put something towards,

711
00:32:51,480 --> 00:32:54,160
Speaker 2: something towards like it, like an idea that that has

712
00:32:54,240 --> 00:32:58,320
Speaker 2: been studied and vetted. Let's let's try that because we've

713
00:32:58,320 --> 00:33:00,800
Speaker 2: seen it work in other and other seeing work on

714
00:33:00,840 --> 00:33:03,000
Speaker 2: my ass, we've seen work on we've seen them work

715
00:33:03,040 --> 00:33:05,760
Speaker 2: among the Jewish community. I mean, it's it is possible.

716
00:33:05,800 --> 00:33:10,120
Speaker 2: I think we just need to to commit and decide

717
00:33:10,440 --> 00:33:12,040
Speaker 2: and and be earnest about it.

718
00:33:12,240 --> 00:33:14,480
Speaker 3: Yes, it's interest. I always, you know, I always take

719
00:33:14,520 --> 00:33:16,960
Speaker 3: my daughter, and we're riding around. There's some spaces up

720
00:33:16,960 --> 00:33:19,520
Speaker 3: in Gwinnett, right, and I mean we go to these

721
00:33:19,520 --> 00:33:21,440
Speaker 3: plazas and I always kind of point out to her.

722
00:33:21,560 --> 00:33:23,520
Speaker 3: We'll pull into a plaza and I'll say, look around,

723
00:33:23,560 --> 00:33:26,480
Speaker 3: tell me what you notice. It should be like all

724
00:33:26,520 --> 00:33:28,360
Speaker 3: the all the name, all the businesses here, all the

725
00:33:28,480 --> 00:33:31,840
Speaker 3: signs are in Korean, you know, all everyone. I said, yeah,

726
00:33:31,840 --> 00:33:33,400
Speaker 3: then we'll go somewhere else. She's like, okay, all these

727
00:33:33,400 --> 00:33:35,360
Speaker 3: are Hispanic. I always ask to say, where's the spot

728
00:33:35,400 --> 00:33:36,920
Speaker 3: where you're going Atlanta where all these are black? Od

729
00:33:39,920 --> 00:33:41,680
Speaker 3: I will literally take her to places and point that

730
00:33:41,720 --> 00:33:45,880
Speaker 3: out and I'd be like look. I'll be like, look Atlanta, this, this, this, this, this, Okay,

731
00:33:45,880 --> 00:33:48,560
Speaker 3: where in Atlanta is there a plaza that you go

732
00:33:48,640 --> 00:33:51,840
Speaker 3: to in all the businesses that plaza are black? Oh,

733
00:33:51,920 --> 00:33:53,680
Speaker 3: it's not even in our communities.

734
00:33:54,080 --> 00:33:57,280
Speaker 2: And in Atlanta where where if there is no place

735
00:33:57,320 --> 00:34:01,280
Speaker 2: else in the country there should be or is here

736
00:34:01,800 --> 00:34:02,560
Speaker 2: to your point.

737
00:34:02,440 --> 00:34:04,160
Speaker 3: I was talking. I was talking to Ryan Wilson about

738
00:34:04,840 --> 00:34:06,560
Speaker 3: I was talking to ride from the gathering spot about

739
00:34:06,600 --> 00:34:08,520
Speaker 3: this same thing. He was like, yeah, man, He's like

740
00:34:08,520 --> 00:34:10,200
Speaker 3: with all the stuff we do here in Atlanta. You know,

741
00:34:10,360 --> 00:34:12,120
Speaker 3: all the all the culture and everything. He said, well,

742
00:34:12,120 --> 00:34:15,439
Speaker 3: you look out in the city. Who owns the dirt? Yeah,

743
00:34:15,680 --> 00:34:16,920
Speaker 3: you know, and like we don't own a lot. We

744
00:34:16,960 --> 00:34:19,480
Speaker 3: don't own very much dirt out here, the fact, and

745
00:34:19,520 --> 00:34:22,319
Speaker 3: that's the difference. That's where the real wealth and the

746
00:34:22,320 --> 00:34:24,759
Speaker 3: real community building and all that stuff starts to come in. Like,

747
00:34:24,840 --> 00:34:27,040
Speaker 3: you know, but even when you think about it too,

748
00:34:27,080 --> 00:34:28,560
Speaker 3: I know you're involved, Like you're on the board of

749
00:34:28,680 --> 00:34:31,960
Speaker 3: Fearless Fund and you were on the board of Invest Atlanta. Like, like,

750
00:34:32,920 --> 00:34:35,239
Speaker 3: where do you see the money moving? Do you see

751
00:34:35,360 --> 00:34:37,880
Speaker 3: resources out here for entrepreneurs actually go out here and

752
00:34:37,960 --> 00:34:40,080
Speaker 3: try to find funds to help capitalize things, because we

753
00:34:40,080 --> 00:34:42,319
Speaker 3: always talk about how black business are runner capitalize. Like

754
00:34:42,360 --> 00:34:45,399
Speaker 3: from that perspective, do you see opportunities for people to

755
00:34:45,440 --> 00:34:47,480
Speaker 3: find some of that funding or is it still mainly

756
00:34:47,600 --> 00:34:48,800
Speaker 3: from a cooperative standpoint?

757
00:34:49,080 --> 00:34:53,320
Speaker 2: Yeah, So there are opportunities for small businesses to get funding.

758
00:34:53,400 --> 00:34:56,560
Speaker 2: There are funding resources that the city puts out and

759
00:34:56,680 --> 00:34:58,359
Speaker 2: that organization within the city put out.

760
00:34:58,560 --> 00:35:02,000
Speaker 1: What I find is that we don't really know about it.

761
00:35:02,400 --> 00:35:05,000
Speaker 2: And when we do, I'm thinking about a good friend

762
00:35:05,000 --> 00:35:07,600
Speaker 2: of mine that has a ton of money and he's

763
00:35:07,640 --> 00:35:10,320
Speaker 2: funded it out of his pocket, and I would beg

764
00:35:10,400 --> 00:35:14,719
Speaker 2: him to like look into invest Atlanta and get some

765
00:35:14,800 --> 00:35:17,759
Speaker 2: of these capital resources because it can just help further

766
00:35:17,800 --> 00:35:20,600
Speaker 2: prepare your growth. And it's like an inherent skepticism oftentimes

767
00:35:20,600 --> 00:35:22,279
Speaker 2: with our community. But oh, they're not gonna give it

768
00:35:22,280 --> 00:35:24,680
Speaker 2: to me. You know, I'm not this or it's worthiness

769
00:35:25,040 --> 00:35:28,600
Speaker 2: kind of thing. So to the question is, yes, there

770
00:35:28,680 --> 00:35:32,560
Speaker 2: are opportunities, for sure. I think that between just the

771
00:35:32,640 --> 00:35:37,759
Speaker 2: general knowledge that we don't have about these opportunities or

772
00:35:37,840 --> 00:35:40,680
Speaker 2: sometimes the skepticism, we don't often get them. So what

773
00:35:40,719 --> 00:35:42,480
Speaker 2: I would see when I was on these boards, I

774
00:35:42,600 --> 00:35:45,399
Speaker 2: see the same people getting these checks and it ain't

775
00:35:45,440 --> 00:35:48,600
Speaker 2: look like me, and they didn't need it as much

776
00:35:48,600 --> 00:35:51,680
Speaker 2: as how I needed. I mean, I'm talking about billion

777
00:35:51,760 --> 00:35:55,359
Speaker 2: dollar outfits getting a lot of resources one because they're

778
00:35:55,400 --> 00:35:57,759
Speaker 2: there and it's not they're doing what they're supposed to do.

779
00:35:58,040 --> 00:36:01,319
Speaker 2: They're there to be had by these folks. But they

780
00:36:01,400 --> 00:36:04,640
Speaker 2: had that level of like knowledge and wherewithal to go

781
00:36:04,880 --> 00:36:07,439
Speaker 2: to know that it's there and to figure out how

782
00:36:07,440 --> 00:36:09,040
Speaker 2: to get it, and we just weren't. And it would

783
00:36:09,040 --> 00:36:11,319
Speaker 2: be the same thing. And I'm talking about getting it.

784
00:36:11,760 --> 00:36:14,440
Speaker 2: I may just you know, And so I think as

785
00:36:14,480 --> 00:36:17,239
Speaker 2: part is like we got to do as best we

786
00:36:17,239 --> 00:36:20,080
Speaker 2: can educating our community and educating ourselves because, like I said,

787
00:36:20,080 --> 00:36:22,919
Speaker 2: anybody coming to save you, but they're they're out there

788
00:36:23,040 --> 00:36:24,160
Speaker 2: in particularly a city like this.

789
00:36:24,239 --> 00:36:26,560
Speaker 1: But as a gap, there's like a knowledge gap and

790
00:36:26,600 --> 00:36:29,560
Speaker 1: then like a I don't know, belief or trust gap.

791
00:36:29,920 --> 00:36:32,359
Speaker 3: Well it's a process like I've you know again, I'm

792
00:36:32,360 --> 00:36:34,960
Speaker 3: not the like throw a vested land on the bus,

793
00:36:35,040 --> 00:36:37,480
Speaker 3: but I've definitely reached out to that before. And it

794
00:36:38,440 --> 00:36:40,279
Speaker 3: is a little overwhelming. It can kind of feel like

795
00:36:40,280 --> 00:36:42,759
Speaker 3: a little cumbersome sometimes, but that's where you look. You

796
00:36:42,760 --> 00:36:46,000
Speaker 3: literally got to like lean in. You got to build relationships.

797
00:36:46,320 --> 00:36:49,160
Speaker 3: And I'm the kind of person you know, I'll say, look,

798
00:36:49,200 --> 00:36:51,560
Speaker 3: walk me through it, you know, Like I get I

799
00:36:51,560 --> 00:36:53,120
Speaker 3: always tell this kind of funny story. I remember I

800
00:36:53,200 --> 00:36:56,400
Speaker 3: used to have a store in them all, and you know,

801
00:36:56,480 --> 00:36:58,160
Speaker 3: I didn't know what I was doing. Man, I get

802
00:36:58,160 --> 00:37:00,000
Speaker 3: I have my own money. I opened up a store.

803
00:37:00,360 --> 00:37:02,120
Speaker 3: I was just you know, trying to figure this thing out.

804
00:37:02,640 --> 00:37:04,400
Speaker 3: And I remember I went to a bank and was like,

805
00:37:04,440 --> 00:37:05,759
Speaker 3: you know, hey, I'm trying to get a loan, and

806
00:37:05,760 --> 00:37:07,120
Speaker 3: they were like, yeah, let's see your P and L.

807
00:37:07,160 --> 00:37:09,160
Speaker 3: I didn't know what the P and L was. I

808
00:37:09,160 --> 00:37:10,480
Speaker 3: didn't even know what the P and L was, bro,

809
00:37:10,719 --> 00:37:13,560
Speaker 3: And I promise you I looked that. That same day,

810
00:37:14,120 --> 00:37:16,640
Speaker 3: I went to office depot or whatever, and I bought

811
00:37:16,640 --> 00:37:19,760
Speaker 3: me a copy of QuickBooks. I started on my laptop

812
00:37:19,800 --> 00:37:22,040
Speaker 3: and I said, I don't even know what a shit is.

813
00:37:22,160 --> 00:37:24,680
Speaker 3: And so one day I was when I used to

814
00:37:24,719 --> 00:37:27,319
Speaker 3: go home, there was just I would always pass this

815
00:37:27,360 --> 00:37:29,920
Speaker 3: accounting firm and I just just had a sign out front.

816
00:37:29,960 --> 00:37:31,680
Speaker 3: And so one day I literally just pulled them to

817
00:37:31,760 --> 00:37:33,960
Speaker 3: the parking lot and knocked on the door. God came

818
00:37:34,000 --> 00:37:36,600
Speaker 3: to the dorus. I said, hey, man, look I own

819
00:37:36,640 --> 00:37:39,719
Speaker 3: a store down here. At them all over here. I

820
00:37:39,800 --> 00:37:41,360
Speaker 3: just bought QuickBooks. I don't know how to use it.

821
00:37:41,400 --> 00:37:42,799
Speaker 3: I was like, I will give you one hundred dollars

822
00:37:42,800 --> 00:37:44,600
Speaker 3: if you just showed me how to just set this

823
00:37:44,680 --> 00:37:47,160
Speaker 3: thing up. And that guy looked at me. It was

824
00:37:47,200 --> 00:37:48,920
Speaker 3: a white guy too, He said, man, bring your dumb

825
00:37:48,960 --> 00:37:50,879
Speaker 3: ass in here. He sent me down. He literally showed

826
00:37:50,880 --> 00:37:52,480
Speaker 3: me how to set up all my books and stuff.

827
00:37:52,600 --> 00:37:53,880
Speaker 3: Now I can run a P and L now in

828
00:37:53,960 --> 00:37:56,840
Speaker 3: my sleep, but it literally takes like I said that education.

829
00:37:56,960 --> 00:37:58,759
Speaker 3: They said, sometimes you have to actually go out there

830
00:37:59,200 --> 00:38:01,560
Speaker 3: and get the infant to do whatever you gotta do,

831
00:38:01,600 --> 00:38:04,360
Speaker 3: because again, this is your business and there's no rules

832
00:38:04,360 --> 00:38:05,399
Speaker 3: to this business thing. Man.

833
00:38:05,800 --> 00:38:10,440
Speaker 2: Look, I mean just you having the good sense and

834
00:38:10,560 --> 00:38:13,279
Speaker 2: humility to ask the just being like, listen, I don't

835
00:38:13,280 --> 00:38:13,839
Speaker 2: know what this is.

836
00:38:14,280 --> 00:38:16,080
Speaker 1: I know I need to know it. Can you show me?

837
00:38:16,520 --> 00:38:19,360
Speaker 2: Like that makes the difference in a lot of times

838
00:38:19,360 --> 00:38:22,560
Speaker 2: between you know, you not being here and you being here.

839
00:38:22,760 --> 00:38:25,480
Speaker 2: I mean, not necessarily in this case, maybe you've been here,

840
00:38:25,680 --> 00:38:29,960
Speaker 2: but I mean it's okay to not know, Like it's okay.

841
00:38:30,040 --> 00:38:32,680
Speaker 2: So so I mean that extra sept that you took

842
00:38:32,719 --> 00:38:35,439
Speaker 2: on your own accord, like we gotta be we have

843
00:38:35,520 --> 00:38:38,799
Speaker 2: to be more. We got to take more ownership over

844
00:38:38,800 --> 00:38:41,320
Speaker 2: where we're going. Like again, I always say, you know,

845
00:38:41,440 --> 00:38:44,720
Speaker 2: rescue boats, but the ones you make and so something

846
00:38:44,840 --> 00:38:47,160
Speaker 2: like that makes a huge difference. I tell you, the

847
00:38:47,160 --> 00:38:49,400
Speaker 2: most costly mistake I've ever made a business came from

848
00:38:49,440 --> 00:38:51,839
Speaker 2: me not knowing and not asking a question. But like

849
00:38:52,360 --> 00:38:54,879
Speaker 2: ten years ago, so I'm trying to raise capital. We've

850
00:38:54,880 --> 00:38:57,400
Speaker 2: now been in the restaurant business for oh that had

851
00:38:57,400 --> 00:39:02,480
Speaker 2: been uh seven years something like that. Seven eight years

852
00:39:02,760 --> 00:39:06,520
Speaker 2: and banks aren't trying to hear anything we have to say,

853
00:39:06,440 --> 00:39:09,680
Speaker 2: very rigid conservative, like you're talking about I'll get it now,

854
00:39:09,800 --> 00:39:11,919
Speaker 2: y'all A knew not doing it. So we went out

855
00:39:11,960 --> 00:39:15,240
Speaker 2: to what they call private equity, which is just money

856
00:39:15,960 --> 00:39:21,160
Speaker 2: leftover from rich people. And there's this one very prominent

857
00:39:21,920 --> 00:39:25,000
Speaker 2: they called a family office, but it's like the money

858
00:39:25,160 --> 00:39:26,200
Speaker 2: from a rich family.

859
00:39:27,960 --> 00:39:29,560
Speaker 1: And we were.

860
00:39:29,480 --> 00:39:33,680
Speaker 2: Offered money to go and build our company because they saw,

861
00:39:33,719 --> 00:39:35,759
Speaker 2: oh the airport space and these guys, and like when

862
00:39:35,800 --> 00:39:37,480
Speaker 2: you get into a business, you make it perform and

863
00:39:37,560 --> 00:39:38,160
Speaker 2: makes money.

864
00:39:38,440 --> 00:39:40,440
Speaker 1: This guy, this office.

865
00:39:40,320 --> 00:39:42,719
Speaker 2: Told me that they would give me a twenty five

866
00:39:42,800 --> 00:39:45,600
Speaker 2: million dollar revolver is what it was, like a twenty

867
00:39:45,600 --> 00:39:48,080
Speaker 2: five million dollar credit card. Like you use it as needed,

868
00:39:48,480 --> 00:39:51,560
Speaker 2: you pay it off and it will accrue some interest,

869
00:39:51,600 --> 00:39:53,799
Speaker 2: but the interest's only like seven percent, so it wasn't bad.

870
00:39:53,800 --> 00:39:55,320
Speaker 2: But but he wanted he was going to give me

871
00:39:55,360 --> 00:39:58,560
Speaker 2: a twenty five million dollars revolver, twenty five million dollars

872
00:39:58,719 --> 00:40:01,920
Speaker 2: credit credit card for twenty five percent of my company.

873
00:40:02,840 --> 00:40:05,359
Speaker 1: And I had never heard of such a thing. I had.

874
00:40:05,480 --> 00:40:08,000
Speaker 2: That's private equity, like they're going to own some of

875
00:40:08,040 --> 00:40:10,680
Speaker 2: your company and I thought, well, man, if he puts

876
00:40:10,680 --> 00:40:13,040
Speaker 2: the money in the business, then maybe I can understand that.

877
00:40:13,080 --> 00:40:14,719
Speaker 2: But he's giving me a credit card, which means like,

878
00:40:14,840 --> 00:40:18,960
Speaker 2: it's not like my money. But so I didn't know.

879
00:40:19,080 --> 00:40:20,439
Speaker 2: Me and my business barn at the time, we didn't

880
00:40:20,440 --> 00:40:22,400
Speaker 2: really know what you're looking at. But the idea of

881
00:40:22,400 --> 00:40:25,160
Speaker 2: taking twenty five percent of my business for money that

882
00:40:25,239 --> 00:40:27,000
Speaker 2: I don't really get to hold per se. It's like,

883
00:40:27,040 --> 00:40:28,520
Speaker 2: as soon as I put it out, I owe it back.

884
00:40:29,360 --> 00:40:31,880
Speaker 2: I could not wrap my mind around that this money

885
00:40:31,920 --> 00:40:33,480
Speaker 2: was going to go to one of two companies. It

886
00:40:33,520 --> 00:40:36,680
Speaker 2: was either my company or this other company. We didn't

887
00:40:36,680 --> 00:40:38,600
Speaker 2: know where we were looking at, so we stayed away

888
00:40:38,600 --> 00:40:41,399
Speaker 2: from it. The other company took it, and less than

889
00:40:41,400 --> 00:40:43,200
Speaker 2: five years later they were doing one hundred million dollars

890
00:40:43,200 --> 00:40:47,080
Speaker 2: in revenue because they had access to twenty five million

891
00:40:47,120 --> 00:40:49,560
Speaker 2: dollars when you're starting out, and we were a little

892
00:40:49,560 --> 00:40:50,279
Speaker 2: bit beyond starting out.

893
00:40:50,400 --> 00:40:52,600
Speaker 1: Now we had several locations, but that is a ton

894
00:40:52,640 --> 00:40:54,200
Speaker 1: of I mean, think about the kind of money were

895
00:40:54,160 --> 00:40:56,239
Speaker 1: trying to raise to do it and to get it.

896
00:40:56,320 --> 00:40:58,960
Speaker 2: Then if you got the sense to do well with it,

897
00:40:59,200 --> 00:41:01,680
Speaker 2: so they had the access it's a capital, then they

898
00:41:01,680 --> 00:41:04,799
Speaker 2: had the strategic partner because anybody that's got that kind

899
00:41:04,840 --> 00:41:07,400
Speaker 2: of money relationship.

900
00:41:06,760 --> 00:41:09,360
Speaker 1: Those people they could pick up the phone, it's up like.

901
00:41:10,160 --> 00:41:13,600
Speaker 2: And then they had like the governess because private equity

902
00:41:13,680 --> 00:41:16,680
Speaker 2: is going to insist that things are managed a certain way,

903
00:41:17,040 --> 00:41:19,120
Speaker 2: like they're going to be watching how you're doing things

904
00:41:19,120 --> 00:41:21,000
Speaker 2: and making sure you're not getting too far left to

905
00:41:21,000 --> 00:41:24,160
Speaker 2: too far right. But it keeps you disciplined about how

906
00:41:24,200 --> 00:41:28,040
Speaker 2: you operate your business. One hundred million dollars later, and

907
00:41:28,080 --> 00:41:31,600
Speaker 2: like I'm chasing that still, you know what I mean,

908
00:41:31,719 --> 00:41:34,680
Speaker 2: Now I'm getting you know, it's it's it's on the horizon.

909
00:41:35,080 --> 00:41:37,239
Speaker 2: But I mean but they got you know, they got

910
00:41:37,280 --> 00:41:41,640
Speaker 2: me beat. I mean they accelerated by six seven years,

911
00:41:42,000 --> 00:41:42,560
Speaker 2: you know what I mean.

912
00:41:42,880 --> 00:41:45,520
Speaker 1: Not knowing better, I mean not go much that costs

913
00:41:45,560 --> 00:41:48,120
Speaker 1: and didn't just like ask the question, but just like,

914
00:41:48,120 --> 00:41:49,359
Speaker 1: oh you want to.

915
00:41:49,320 --> 00:41:54,080
Speaker 3: My company, not knowing, not knowing as expensive man. And

916
00:41:54,320 --> 00:41:55,520
Speaker 3: I think a lot of people, even when it comes

917
00:41:55,560 --> 00:41:59,160
Speaker 3: to private equity, right like what it is, it's rocket fuel,

918
00:42:00,080 --> 00:42:00,799
Speaker 3: Like that's all it is.

919
00:42:00,840 --> 00:42:00,920
Speaker 1: Like.

920
00:42:01,080 --> 00:42:03,120
Speaker 3: And you know people talk about people talk about raising money.

921
00:42:03,120 --> 00:42:05,719
Speaker 3: It's like again, you got to understand if you take

922
00:42:05,760 --> 00:42:08,680
Speaker 3: on money one they want the money back, but the

923
00:42:08,719 --> 00:42:10,960
Speaker 3: purpose of that money is to get you to where

924
00:42:11,000 --> 00:42:13,520
Speaker 3: you're trying to get faster, right, right, And so to

925
00:42:13,600 --> 00:42:17,040
Speaker 3: your point, y'all are both at the same kind of point. Right,

926
00:42:17,400 --> 00:42:22,960
Speaker 3: they got some rocket fuel this, you know what I mean?

927
00:42:23,120 --> 00:42:26,640
Speaker 3: Like you moving, you might have put eighty seven in

928
00:42:26,680 --> 00:42:31,760
Speaker 3: the let's alarn man.

929
00:42:32,640 --> 00:42:37,040
Speaker 2: Biggest mistake I had most costium mistake from not knowing

930
00:42:37,800 --> 00:42:41,640
Speaker 2: and not having the sense to ask the question to

931
00:42:41,719 --> 00:42:42,759
Speaker 2: someone that did though.

932
00:42:42,960 --> 00:42:46,160
Speaker 3: Yeah, now again you've you've you've built your own spot,

933
00:42:46,200 --> 00:42:50,120
Speaker 3: you built your own restaurant, you've done franchises. Now you're

934
00:42:50,440 --> 00:42:53,719
Speaker 3: starting to work on concepts they could be franchised, right,

935
00:42:53,800 --> 00:42:55,280
Speaker 3: Like tell me about about that space?

936
00:42:55,760 --> 00:42:58,920
Speaker 1: Yeah, man, So I've been to your point.

937
00:42:59,000 --> 00:43:03,719
Speaker 2: I've been now operating franchises for thirteen years, meaning like

938
00:43:03,800 --> 00:43:06,759
Speaker 2: people you know, the shake shacks already out there, whole deal.

939
00:43:06,920 --> 00:43:09,480
Speaker 1: And I've learned from them, like I learn why they

940
00:43:09,600 --> 00:43:12,759
Speaker 1: are successful. It's it is not coincidence, Like they do

941
00:43:12,800 --> 00:43:15,879
Speaker 1: things a certain way. And so I started borrowing these

942
00:43:15,920 --> 00:43:18,920
Speaker 1: insights and then putting him into ideas that I have.

943
00:43:19,560 --> 00:43:22,760
Speaker 1: And so the plan for me and I'll never stop

944
00:43:22,840 --> 00:43:24,960
Speaker 1: doing what I'm doing in terms of airport concessions and

945
00:43:25,080 --> 00:43:27,640
Speaker 1: I pre restaurants, but the plan is to also be

946
00:43:27,680 --> 00:43:31,360
Speaker 1: a franchise, or to be the McDonald's or the shake

947
00:43:31,360 --> 00:43:34,520
Speaker 1: Shack or the you know, Domino whoever. And so I've

948
00:43:34,520 --> 00:43:37,760
Speaker 1: started developing some quick service concepts. I like quick service.

949
00:43:38,239 --> 00:43:38,840
Speaker 1: I'm cool.

950
00:43:39,120 --> 00:43:42,880
Speaker 2: Bars almost kill me, I mean, bankruptcy everything else. They

951
00:43:42,920 --> 00:43:44,239
Speaker 2: tend to be trendy. I mean, you think about the

952
00:43:44,239 --> 00:43:47,319
Speaker 2: biggest restaurant groups on planet Earth. They're all fast food.

953
00:43:47,360 --> 00:43:49,239
Speaker 2: I mean the one is like McDonald's. Number two is

954
00:43:49,520 --> 00:43:51,600
Speaker 2: I don't know, maybe Domino's, but you name it chick

955
00:43:51,640 --> 00:43:53,439
Speaker 2: fil I mean, but they're all fast food.

956
00:43:53,640 --> 00:43:56,920
Speaker 1: It's not it ain't sexy. It ain't complicated either. So anyway,

957
00:43:56,960 --> 00:44:01,200
Speaker 1: so I started building out quick service brands, and we

958
00:44:01,320 --> 00:44:06,760
Speaker 1: now have two open in the airport. It's a pizza

959
00:44:06,840 --> 00:44:11,799
Speaker 1: place and they're called Kalachi's, but it's essentially like a

960
00:44:11,840 --> 00:44:15,399
Speaker 1: stuff bread. It compete with Annie Anne's and Cinnabon, which

961
00:44:15,400 --> 00:44:18,560
Speaker 1: are both being out of businesses. And we have another

962
00:44:18,600 --> 00:44:22,520
Speaker 1: one that's kind of an Asian fusion, but think like

963
00:44:22,520 --> 00:44:26,080
Speaker 1: like an elevated panda with kind.

964
00:44:25,920 --> 00:44:28,680
Speaker 2: Of our sauce on it, like like black folks likes.

965
00:44:29,840 --> 00:44:32,440
Speaker 2: So we're working on those, really excited about it. Been

966
00:44:32,520 --> 00:44:36,720
Speaker 2: working on those since COVID, and we plan to activate

967
00:44:36,760 --> 00:44:38,240
Speaker 2: the first street Side one by.

968
00:44:38,080 --> 00:44:38,759
Speaker 1: The end of this year.

969
00:44:38,920 --> 00:44:41,319
Speaker 3: Okay, Yeah, So that kind of starts to flip again

970
00:44:41,360 --> 00:44:43,480
Speaker 3: because at a certain point, you're like, all right, like

971
00:44:44,120 --> 00:44:46,160
Speaker 3: you become you say, you become the plug. At a

972
00:44:46,200 --> 00:44:48,720
Speaker 3: certain point, I mean it's like I'm going to people,

973
00:44:48,880 --> 00:44:50,440
Speaker 3: but I'm also a little wait a minute, so they

974
00:44:50,840 --> 00:44:53,120
Speaker 3: they doing all this, they're the ones really making the money.

975
00:44:53,200 --> 00:44:55,000
Speaker 3: So let me start to actually kind of got go

976
00:44:55,000 --> 00:44:56,359
Speaker 3: out to them all that same kind of way. Let

977
00:44:56,360 --> 00:44:58,520
Speaker 3: me be the person that is putting enough franchise that

978
00:44:58,560 --> 00:45:00,520
Speaker 3: people are coming to me and they're cutting me royalties,

979
00:45:00,560 --> 00:45:02,200
Speaker 3: and now I'm kind of scaling my business that way.

980
00:45:02,320 --> 00:45:04,239
Speaker 2: Yeah, i mean, scale a lot faster, and then you know,

981
00:45:05,120 --> 00:45:06,879
Speaker 2: I got to build it. I mean I'm writing in royalty.

982
00:45:06,920 --> 00:45:08,840
Speaker 2: Don't get me wrong. It's good stuff, it's brand recognition,

983
00:45:08,920 --> 00:45:09,480
Speaker 2: people come to it.

984
00:45:09,480 --> 00:45:10,040
Speaker 1: But I'm building.

985
00:45:10,120 --> 00:45:11,839
Speaker 2: I'm paying for all the stuff I'm paying to build

986
00:45:11,840 --> 00:45:13,160
Speaker 2: out of stew and paying for the labor and the

987
00:45:13,160 --> 00:45:15,839
Speaker 2: whole deal. And so I think it would be good

988
00:45:15,880 --> 00:45:17,359
Speaker 2: sense to get on that side of it. I think

989
00:45:17,400 --> 00:45:20,680
Speaker 2: we need more representation among our community on that side

990
00:45:20,680 --> 00:45:22,080
Speaker 2: of it. And I'm trying to build models that are

991
00:45:22,080 --> 00:45:23,839
Speaker 2: easy for us to get into as well.

992
00:45:24,040 --> 00:45:26,640
Speaker 3: Yeah, when it comes to and I don't want to

993
00:45:26,640 --> 00:45:29,200
Speaker 3: come like boring businesses. But again, like I think again

994
00:45:29,360 --> 00:45:30,920
Speaker 3: we kind of joked about this, Like I think a

995
00:45:30,920 --> 00:45:32,680
Speaker 3: lot of people that Atlanta start what I kind of

996
00:45:32,680 --> 00:45:35,640
Speaker 3: call Atlanta businesses, and they just start a business that

997
00:45:35,680 --> 00:45:37,680
Speaker 3: will work based on like their perception of things. And

998
00:45:37,960 --> 00:45:39,240
Speaker 3: that's why I tell you we got to get outside

999
00:45:39,200 --> 00:45:42,160
Speaker 3: of Atlanta, y'all. This is a very unique space, you know.

1000
00:45:42,239 --> 00:45:44,040
Speaker 3: But like, what do you want people to know about

1001
00:45:44,120 --> 00:45:48,239
Speaker 3: quote unquote boring businesses? And just from your experience.

1002
00:45:48,160 --> 00:45:52,160
Speaker 2: That that what's exciting is making money, you know what

1003
00:45:52,200 --> 00:45:55,440
Speaker 2: I mean, Like like the sexy business that goes out

1004
00:45:55,440 --> 00:45:58,120
Speaker 2: of business. I promise you that shit is not fun.

1005
00:45:58,640 --> 00:46:01,200
Speaker 2: It's not fun when on the way to being out

1006
00:46:01,239 --> 00:46:04,719
Speaker 2: of business. Like the cool shit is building something that

1007
00:46:04,800 --> 00:46:07,600
Speaker 2: provides for you and your family and your future. And

1008
00:46:07,640 --> 00:46:10,120
Speaker 2: if that comes by way of an ugly business, which

1009
00:46:10,160 --> 00:46:14,359
Speaker 2: is often the case, just do that. Like in what

1010
00:46:14,400 --> 00:46:17,080
Speaker 2: we are trying to catch up to, like as in

1011
00:46:17,080 --> 00:46:21,560
Speaker 2: our community black people being full participants in our economy.

1012
00:46:21,760 --> 00:46:24,479
Speaker 2: It's got to be about the dollar. I mean, let's

1013
00:46:24,520 --> 00:46:26,720
Speaker 2: just call it what I mean, that's not all that matters.

1014
00:46:26,719 --> 00:46:29,319
Speaker 2: But I mean to realize the kind of freedom we want,

1015
00:46:29,320 --> 00:46:31,120
Speaker 2: a mobility and the ability to have this and a

1016
00:46:31,200 --> 00:46:33,120
Speaker 2: voice and access, like we got to do.

1017
00:46:33,160 --> 00:46:38,960
Speaker 1: Things that enable the accumulation of wealth. Everything else is

1018
00:46:39,040 --> 00:46:42,120
Speaker 1: just everything else to me. It's cool until you got

1019
00:46:42,160 --> 00:46:44,520
Speaker 1: to turn the lights off and put the you know

1020
00:46:44,560 --> 00:46:45,239
Speaker 1: whatever up.

1021
00:46:45,680 --> 00:46:48,680
Speaker 2: So I would say, look at things that perform well

1022
00:46:49,440 --> 00:46:50,480
Speaker 2: boring businesses and not.

1023
00:46:51,120 --> 00:46:54,080
Speaker 3: Yah, man, look this. This has been a great conversation Randy.

1024
00:46:54,120 --> 00:46:55,920
Speaker 3: You know I'm saying, you built a lot of amazing stuff.

1025
00:46:56,200 --> 00:46:58,239
Speaker 3: One thing I would just ask is if if you could,

1026
00:46:58,320 --> 00:47:00,839
Speaker 3: if you could kind of go back to you know,

1027
00:47:01,239 --> 00:47:04,359
Speaker 3: Randy getting ready to open Cafe Circle and give them

1028
00:47:04,360 --> 00:47:06,440
Speaker 3: some advice. I know that one part woul probably be like,

1029
00:47:06,480 --> 00:47:07,920
Speaker 3: don't do this, go get a fresh.

1030
00:47:08,360 --> 00:47:09,320
Speaker 1: To it out of my mouth.

1031
00:47:10,040 --> 00:47:12,839
Speaker 3: I'm doing what do you what do you want? The

1032
00:47:12,840 --> 00:47:16,239
Speaker 3: next again, the next kind of group of budding entrepreneurs

1033
00:47:16,239 --> 00:47:17,600
Speaker 3: that are here. This is saying, you know what, I've

1034
00:47:17,640 --> 00:47:20,239
Speaker 3: never thought about a franchise approach, Like what do you

1035
00:47:20,239 --> 00:47:21,520
Speaker 3: what do you want them to take away and know

1036
00:47:21,600 --> 00:47:22,400
Speaker 3: from this conversation.

1037
00:47:24,239 --> 00:47:30,280
Speaker 1: Yeah, like, don't don't do anything because it's it's cool,

1038
00:47:30,680 --> 00:47:34,480
Speaker 1: or because it will raise you know, your personal profile,

1039
00:47:34,680 --> 00:47:40,440
Speaker 1: or because it's about something other than a sustainable, financially

1040
00:47:40,520 --> 00:47:45,120
Speaker 1: performing business, which means do homework around what we'll get there.

1041
00:47:45,200 --> 00:47:48,520
Speaker 1: Don't just think it's an interesting idea because you like it,

1042
00:47:48,920 --> 00:47:52,040
Speaker 1: that that can be the starting place of the thought exercise,

1043
00:47:52,280 --> 00:47:54,399
Speaker 1: but make sure that it works with the real world

1044
00:47:54,960 --> 00:47:57,799
Speaker 1: because we need we need us to be performing in

1045
00:47:57,800 --> 00:48:00,719
Speaker 1: this space. So I would say, be smart and diligent

1046
00:48:00,880 --> 00:48:05,319
Speaker 1: about what you get into from a financial performance standpoint,

1047
00:48:05,520 --> 00:48:07,520
Speaker 1: and don't do the shit I did just jumping out there.

1048
00:48:07,560 --> 00:48:11,120
Speaker 1: Almost die. I'm gonna die. Like, take your time, do

1049
00:48:11,239 --> 00:48:14,800
Speaker 1: your homework, do something smart and thoughtful based. Don't like evidence.

1050
00:48:15,120 --> 00:48:17,560
Speaker 3: Yeah, man, look y'all, I'm telling you, y'all, listen to Randon.

1051
00:48:17,600 --> 00:48:20,719
Speaker 3: One thing I tell people all the time is experience

1052
00:48:20,760 --> 00:48:23,040
Speaker 3: is the best teacher. But it's the teacher nobody wants.

1053
00:48:24,360 --> 00:48:26,520
Speaker 3: The only way to learn that the only way to

1054
00:48:26,600 --> 00:48:28,520
Speaker 3: learn is to do it. And you're listening to somebody

1055
00:48:28,560 --> 00:48:31,600
Speaker 3: right now who has done it, so you know again,

1056
00:48:31,719 --> 00:48:35,319
Speaker 3: Randy Man congratulations on everything. If people want to find you,

1057
00:48:35,600 --> 00:48:37,560
Speaker 3: support you, they want to reach out about, you know,

1058
00:48:37,600 --> 00:48:39,880
Speaker 3: potentially getting involved one of your business franchise, Like how

1059
00:48:39,920 --> 00:48:41,120
Speaker 3: can they get in contact.

1060
00:48:40,800 --> 00:48:43,120
Speaker 1: With you some social handles.

1061
00:48:42,920 --> 00:48:47,440
Speaker 2: It's Randy Hazelton and I g Randy Hazelton and LinkedIn

1062
00:48:47,920 --> 00:48:51,319
Speaker 2: just Randy Hazelton. Yeah, and we will get in touch.

1063
00:48:51,360 --> 00:48:54,799
Speaker 2: I mean just reaching out. By that, I tried to

1064
00:48:54,840 --> 00:48:58,080
Speaker 2: spend time talking to as many entrepreneurs as I can

1065
00:48:58,560 --> 00:48:59,960
Speaker 2: just because I didn't I didn't have the kind of

1066
00:49:00,000 --> 00:49:02,160
Speaker 2: information I wish I to have then, So just reach

1067
00:49:02,239 --> 00:49:04,400
Speaker 2: out and we will do our best to get in

1068
00:49:04,480 --> 00:49:06,680
Speaker 2: touch and have a conversation on send some information.

1069
00:49:07,040 --> 00:49:08,959
Speaker 1: But I would say start that, okay for.

1070
00:49:08,880 --> 00:49:10,960
Speaker 3: Sure, Man, we'll look Randy. Man, appreciate you pulling up.

1071
00:49:11,000 --> 00:49:14,479
Speaker 3: There's been a long time coming. Yeah man, many gyms

1072
00:49:14,480 --> 00:49:17,000
Speaker 3: have been dropped in here, so we appreciate you pulling up. Man.

1073
00:49:17,000 --> 00:49:19,480
Speaker 3: With that said, y'all, that's the pod we out peace.

1074
00:49:20,640 --> 00:49:22,520
Speaker 3: You've been listening to button Nomics and I'm your hosts.

1075
00:49:22,520 --> 00:49:25,719
Speaker 3: Brandon Butler got comments feedback? Want to be on the show.

1076
00:49:25,920 --> 00:49:29,080
Speaker 3: Send us an email today at Hello at butternomics dot com.

1077
00:49:29,239 --> 00:49:32,359
Speaker 3: Butter Nomics is produced in Atlanta, Georgia at iHeartMedia by

1078
00:49:32,400 --> 00:49:35,800
Speaker 3: Casey Pegram, with marketing support from Queen and Nikki. Music

1079
00:49:35,800 --> 00:49:38,480
Speaker 3: provided by mister Hanky. If you haven't already hit that

1080
00:49:38,520 --> 00:49:40,920
Speaker 3: subscribe button, then never missed an episode and be sure

1081
00:49:41,000 --> 00:49:43,440
Speaker 3: to follow us on all our social platforms at butter

1082
00:49:43,520 --> 00:49:46,799
Speaker 3: dot atl Listen to better Nomics on the iHeartRadio app,

1083
00:49:46,840 --> 00:49:49,399
Speaker 3: Apple Podcasts, or wherever you get your podcasts