This Howard Alum Became First Black Person With 100% Ownership of National Burger Franchise
7th July 2021 by BOTWC Staff
7th July 2021 by BOTWC Staff
He's getting ready to revitalize one of America's favorite franchises!
Howard University alum Nicholas Perkins recently acquired the Fuddruckers restaurant chain, making history as the first Black person with 100% ownership of a national burger franchise, Black Enterprise reports.
Perkins was born and raised in Fayetteville, North Carolina, first getting inspired in the culinary business from his grandmother, Mrs. Laurene W. Perkins.
"My grandmother was a phenomenal cook; she nurtured my passion for the kitchen. I knew that I loved to cook and had a passion for it, but I also wanted to become an entrepreneur," Perkins said.
He would earn a Bachelor's degree in Business Administration and Management from Fayetteville State University before attending Howard University, earning a Master's of Business Administration. Perkins then merged his love of the culinary arts and entrepreneurship to create Perkins Management Services; a thriving Washington, D.C.-based company focused on investing in the retail, fast food industry and providing specialty services including custodial, facilities, and grounds maintenance.
Perkins acquired the Fuddruckers franchise from Luby's, Inc. under his Black Titan Franchise Systems LLC, a newly formed affiliate created solely for the sale. Luby's is a Houston-based cafeteria chain intended to liquidate its assets and dissolve the company, including its Fuddruckers chain. Several restaurants were previously sold to another Perkins affiliate, and the CEO jumped on the opportunity to purchase the franchises. The popular restaurant chain was sold to Perkins for an estimated $18.5 million.
HU alumnus Nicholas Perkins is slated to acquire the Fuddruckers restaurant chain for an estimated $18.5 million, making him the first African American with 100% ownership of a national burger franchise. #BisonPride #BisonintheNews— Howard University (@HowardU) June 19, 2021
Read more here: https://t.co/b5hLbebceP pic.twitter.com/Lv40Rc9Ove
"We're excited to be purchasing Fuddruckers and look forward to working with Fuddruckers' many dedicated, highly capable franchisees to further build this brand. As a Fuddruckers franchise, I have a vested interest in ensuring that all Fuddruckers franchisees have the resources, infrastructure, and operational and marketing support they need to maximize their return on investment. This strategic alignment, when combined with the fact that we sell the 'World's Greatest Hamburgers,' will ensure the long-term success of the brand and our franchisees," Perkins said.
Congratulations Nicholas! We can't wait to eat at another Black-owned establishment!
Photo Courtesy of Howard University/Twitter