If at first you don’t succeed, the late singer Aaliyah said “dust yourself off and try again.” And for entrepreneur Randy Hazelton that worked.
The co-owners were able to launch their new company through a $500,000 investment — which came from them selling their first full-service restaurant and bar venture based in Atlanta, GA. The original restaurant eventually declared bankruptcy.
“We didn’t know how to make money because we didn’t do the homework,” Hazleton explained to Forbes.
Although the business model failed, the formula with H&H Hospitality ultimately placed Hazleton and Holt on a fast-track to success. Now, the firm’s portfolio consists of more than 20 franchises and around 100 employees.
The outlet also notes that H&H Hospitality will have earned $50 million in revenue in 2023 and credits its growth to government contracts under the Airport Concession Disadvantaged Business Enterprise Act, which assists underserved founders.
“It changed my life,” Hazelton expressed, according to Forbes.
Some of the company’s portfolio franchises include Freshens yogurt and Famous Famiglia pizzeria, which have secured placement on Concourse D in Atlanta’s Hartsfield-Jackson Airport. This is good business for the founders as it is often referred to as one of the busiest airports in the world.
What’s more, through a partnership with food and beverage operator Concessions International, H&H Hospitality also has stake in Shake Shack and Auntie Anne’s pretzels. Through the pretzel company alone, it generates $3 million in yearly revenue.
H&H Hospitality notes this is one of Auntie Anne’s top five highest-grossing franchises.
“It’s the perfect brand for an airport,” said Matt Von Klemperer, director of nontraditional development for Focus Brands, which oversees the Auntie Anne’s brand on behalf of Roark Capital.