Dallas-Fort Worth (DFW) is a major center for chain restaurants, both as a starting point and a nurturing ground for their development. The success of Velvet Taco, created by Randy Dewitt and Jack Gibbons, illustrates the potential of this market. After selling to a private equity firm in 2021, Velvet Taco expanded rapidly, reflecting a business model focused on creating, nurturing, and then selling successful restaurant concepts. Gibbons emphasizes that, unlike other restaurateurs, their approach prioritizes idea generation and eventual sale over long-term ownership, aiming for high profitability and quick success.
"The whole idea is to do the fun part of coming up with ideas, nurture the brands, and if it becomes a home run, sell it off to someone else to run."
"For most restaurateurs, the point of a successful idea is to make it a chain or a franchise, and get other people to run it while you collect the money."
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