key takeaways
- Pinky Cole temporarily lost control of Slutty Vegan through restructuring earlier this year, but immediately bought it back.
- They launched Slutty Vegan 2.0, which focused on operational discipline, profitability, and smart franchising.
- His return provides a playbook for founders on ownership, humility, and long-term sustainability.
After temporarily losing control of her company amid debt restructuring, Pinky Cole, founder of Atlanta-born fast-casual brand Slutty Vegan, has regained full ownership and launched a new version of the brand, Slutty Vegan 2.0. In this conversation, she shares the lessons behind her comeback and why this next phase is about discipline, accountability and sustainable growth through franchising.
RELATED: Considering Franchise Ownership? Start finding your personal list of franchises that match your lifestyle, interests, and budget now.
You have recently regained full control of Slutty Vegan. What did you learn from this process?
The biggest lesson is that you can never take your hands off the car. In the beginning, I was inside the business every day. Then we grew up, I brought in experienced people, and I went into autopilot. I was still involved as a thought leader and face of the brand, but I wasn’t in everyday life. This is where founders can run into trouble. When you’re building something for the first time, no one tells you that you can’t set it and forget it. You have to stick to the vision. It’s one thing to have foresight. Living it – every day, in every detail – is different.
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You’ve described this phase as Slutty Vegan 2.0. What does that mean to you?
This is a new beginning. You know that saying, “Fool me once, shame on you; fool me twice, shame on me?” There’s no way I can go through the same situation twice. 2.0 is personal. It’s about taking the lessons from 1.0 and applying them – building a strong foundation with people who have been there before and can show me the way.
Related: No Experience? No problem. How this first-time franchisee built a $3 million business.
What kind of operational changes have you made to strengthen the business?
I brought in a franchise president who spent 17 years at 7-Eleven. He’s an operator through and through. I also have an operations director and consultants who focus on systems and efficiency, and I’m looking to bring in an operations head who knows about process and throughput. My superpower is brand and marketing. So I’m surrounded by people whose superpower is operations. The business is always evolving – look at Apple, something new is introduced every few months. We have to keep innovating like this.
Why is now the right time to own a Slutty Vegan franchise?
My husband, Derrick “Dee” Hayes, franchises Big Dave’s Cheesesteaks, so I got a front row seat to that process. We learned from each other’s mistakes. And I realized that franchising is the clearest path to scale and generational wealth – if you do it right. I used to say that I will never take a franchise. But when you look at the most successful companies, it’s the companies with the highest valuations that have the dominant scale. I wanted scalability and efficiency at the same time. Franchising achieves that, as long as I bring in genuine operators that align with our vision.
How do you decide who is a good fit to franchise with you?
First, they have to understand what Slutty Vegan actually is. It’s not just burgers and fries – it’s a cultural marker. We reimagined vegan food and made it good, fun and universal. Everyone can enjoy it. Second, they have to become operators. I don’t need people who agree with me. I want partners who say to me, “Pinky, do it better.” I’m not trying to be a hero. I’m trying to create a sustainable, proven concept that is respected by communities, customers and investors alike.
RELATED: She moved to America at 17 and worked at a gas station — then became CEO of a $1 billion brand
Where are you in the franchising process now?
Our FDD is live, and we’re using FranConnect to manage the pipeline. I also brought in a franchise director. We got about 250 leads from individuals and investor groups in the first week. This blew my mind. This showed me that despite everything the brand has gone through, people still love it. This is what I call a bulletproof brand.
You said earlier that you are more self-aware now as a leader. what changed?
I’ve always been self-aware creatively, but in business I wasn’t always self-aware. When I started, I didn’t know terms like EBITDA. I was just a creative person who could create something special. So I brought in people who knew that side, and I became very comfortable. Looking back, I should have forced myself to learn it, even though it was inconvenient. As a founder, you can’t delegate understanding. You have to keep learning.
What advice would you give to other personality-driven founders who want to grow sustainably?
Don’t try to be the smartest person in the room. Surround yourself with people who know what you don’t know, and pay them to teach you while they build with you. Study why businesses fail, not just why they succeed. Even the largest companies are closing their locations at this time, and I want to know why. Curiosity and humility – that’s how you grow.
You talked a lot about ownership and equity impact. How does franchising fit into that philosophy?
If my concept can become a means of building someone else’s life, then that is impact. One founder’s dream can become the livelihood of dozens of families. This is what equity looks like to me – ownership multiplied.
What’s next for Slutty Vegan?
Everyone asks me for a five-year plan. But after what I have just been through, my focus is on the next 24 months – strengthening the systems, supporting the franchisees and growing the brand on the right path. Scale matters, but discipline matters more.
key takeaways
- Pinky Cole temporarily lost control of Slutty Vegan through restructuring earlier this year, but immediately bought it back.
- They launched Slutty Vegan 2.0, which focused on operational discipline, profitability, and smart franchising.
- His return provides a playbook for founders on ownership, humility, and long-term sustainability.
After temporarily losing control of her company amid debt restructuring, Pinky Cole, founder of Atlanta-born fast-casual brand Slutty Vegan, has regained full ownership and launched a new version of the brand, Slutty Vegan 2.0. In this conversation, she shares the lessons behind her comeback and why this next phase is about discipline, accountability and sustainable growth through franchising.
RELATED: Considering Franchise Ownership? Start finding your personal list of franchises that match your lifestyle, interests, and budget now.
You have recently regained full control of Slutty Vegan. What did you learn from this process?
The biggest lesson is that you can never take your hands off the car. In the beginning, I was inside the business every day. Then we grew up, I brought in experienced people, and I went into autopilot. I was still involved as a thought leader and face of the brand, but I wasn’t in everyday life. This is where founders can run into trouble. When you’re building something for the first time, no one tells you that you can’t set it and forget it. You have to stick to the vision. It’s one thing to have foresight. Living it – every day, in every detail – is different.
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