The Journey to Franchise Ownership with Derek Lewis
Market Mondays
EYL Network
5 • 4K Ratings
🗓️ 2 February 2025
⏱️ 9 minutes
🧾️ Download transcript
Summary
In this insightful clip of Market Mondays, Derek Lewis joins hosts Troy Millings, Rashad Bilal, and Ian Dunlap to delve into his exciting journey of purchasing and scaling 10 franchises of Big Dave’s Cheesesteaks. Derek shares his unique experiences from his extensive career at PepsiCo and how his interactions with prominent entrepreneurs Derek Hayes and Pinky Cole at an Entrepreneur Summit ignited his passion for this venture.
Derek describes the initial steps of buying these franchises, reflecting on the importance of fostering relationships within the community and the unwavering support he received from Pepsi while bringing Hayes' vision to life. He emphasizes the significance of understanding the entrepreneurial dream, not just from a business perspective, but also in aligning with their mission to support and uplift the community - particularly focusing on Black-owned businesses post-COVID.
The clip further explores Derek’s strategy to grow Big Dave’s Cheesesteaks across the nation. His approach combines his previous professional experiences, especially in sports marketing during his tenure at Pepsi, integrating these elements into his current entrepreneurial pursuits to build brand awareness and a loyal customer base.
Additionally, Derek speaks passionately about the pivotal role mentorship and networking play in achieving business success. He outlines his goal to use his expertise in scaling operations efficiently and mentor younger entrepreneurs to help them navigate the challenges of the business world.
The conversation later shifts to the impact of Historically Black Colleges and Universities (HBCUs) on Derek’s career. As a proud graduate of Hampton University, Derek emphasizes the importance of HBCUs in shaping leaders and the value they bring to the professional world. He shares his endeavors in supporting HBCUs through recruitment, brand activations, and community engagement - ensuring that these institutions continue to thrive despite the challenges they face.
This clip is not only a deep dive into the business strategies and commitments of a successful entrepreneur but also a testament to the power of community, mentorship, and the enduring legacy of HBCUs. Whether you're an aspiring entrepreneur, a seasoned businessperson, or someone interested in the growth of Black-owned businesses, this discussion offers a wealth of insights and inspiration.
Join us for this compelling conversation with Derek Lewis as we explore the intricate process of franchise ownership, the importance of community support, and the ongoing impact of HBCUs.
*#MarketMondays #DerekLewis #BigDavesCheesesteaks #Entrepreneurship #FranchiseBusiness #Mentorship #HBCUs #CommunitySupport #PepsiCo #ScalingBusiness #BlackOwnedBusiness*
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Transcript
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| 0:55.0 | secure. So you purchased 10 franchises from, I got Derek Hayes, Big Days, Cheesesteak. |
| 1:04.1 | Yes. So, you know, that's interesting because, A, he's a younger entrepreneur than you, and he's also a black entrepreneur. |
| 1:13.9 | So I think that that's great that, you know, you can work with somebody who's black and then work with somebody who's younger as well, right? |
| 1:20.6 | So talk about the process and what was the steps to actually purchase those bulk franchises and what's your vision for those franchises? |
| 1:32.0 | Yeah, I think it's a great question. |
| 1:33.4 | So I got to meet Derek when I was in that Pepsi. |
| 1:36.1 | Well, actually, I was an operating president of the South before I stepped into that multicultural. |
| 1:40.3 | But I met Derek and Pinky at Entreprene summit up at Richard Dennis's place I was |
| 1:45.1 | actually a guest speaker one night he had probably a hundred people that were in his fun new |
| 1:49.4 | voice is fun I believe and so Derek and Pinky were there they raised their hand like hey we're from |
| 1:53.1 | Atlanta we're always you know getting called by your competitor we're trying to stay lower with you |
| 1:57.3 | but we need you support so I went, spoke to them after the summit, |
| 2:02.2 | told them I would be in Atlanta, and I would spend time with them. I had heard of them, but I didn't |
| 2:05.1 | really know them that well. So I were literally flew to Atlanta the next week, spent probably two to |
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