The Fort RE #108: Brady Wood - Founder of Woodhouse 'A Hospitality Legend'
Brady Wood is an influencer and innovator in the entertainment concept and real estate development space. He has the proven ability to “see the unseen” which allows him to navigate the complex and nuanced art of concept creation.
On this episode, Brady and Chris discuss his journey from buying bars and restaurants in Dallas to founding Woodhouse and developing major mixed-use projects such as The Star in Frisco facility utilized by The Dallas Cowboys. They also discuss the private membership club industry and how they were able to navigate the pandemic with projects like Park House in Highland Park. Finally, Brady gives his thoughts on concepts like Ghost-kitchens and how to better the relationship between restaurants and leasers to keep these small businesses alive. Enjoy!
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Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com
Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
(02:47) - Brady’s Story Owning His First Businesses and Buying Bars in Dallas
(07:53) - Did you end up selling all of those businesses or did you hold onto them?
(09:08) - What was the next step for you after owning bars and restaurants in Dallas?
(13:12) - Can you describe what you do today at Woodhouse?
(16:24) - Working with Jerry Jones to Develop The Star Facility in Frisco
(18:58) - What did the developers do right when building The Star that others should think about in terms of bringing someone like you into the fold of a project?
(23:13) - When someone like The Cowboys built out The Star, is WoodHouse putting together a plan to present to the family and developing everything once it’s approved?
(25:14) - How do you come up with these concepts and gain inspiration?
(27:32) - Why are great restaurants great? Why do some fail?
(34:17) - Can you describe what a partnership deal between the leaser and the restauranteur looks like?
(37:11) - Why aren’t more folks pursuing these types of partnerships?
(39:24) - Assuming the partnership is in place, why do restaurants still fail or succeed from an operating standpoint?
(43:08) - How did you develop and execute the Park House Club concept in Highland Park, Dallas?
(46:39) - How do you deal with such a long waiting list? (4,100 Currently)
(47:59) - Is there something unique that the space has been used for that you never expected?
(50:07) - Gateway and First-Tier Cities
(53:51) - What is the future of private paid membership clubs?
(55:28) - Should more restaurants think about the Ghost-Kitchen model?
(57:17) - What are some things we should expect in the next year and over the next 5 for hospitality?
(1:01:28) - When can we expect music festivals to come back?
(1:02:40) - What are the economics of a music festival?
(1:04:17) - Do you act as the consultant to the festival or do you own the ones you’re involved with?
(1:04:47) - Could the private membership clubs not exist in small marker cities or do they require a certain demographic?
Common House Club in Charlottesville
(1:06:39) - Do you have a childhood experience that shaped the trajectory of your life?
(1:09:30) - What’s one thing you believe that most people don’t believe?
(1:10:38) - What’s the best book you’ve ever read?
(1:11:43) - If you owned a billboard that you could put anything on, what would it say?
(1:12:14) - What’s the best way for people to get in touch with you?