Nicholas Perkins, a Black businessman and HBCU graduate, recently acquired the Fuddruckers burger franchise for an estimated $18.5 million. The deal makes him the largest franchise owner and the first African American to have total ownership of a national burger chain. Perkins’ Black Titan Franchise Systems LLC reached a deal with Luby’s earlier this summer to take over 100 percent ownership of the Fuddruckers brand.
Perkins is the CEO of Black Titan Franchise Systems LLC. He purchased several franchises in the past before taking sole ownership. MSN reported that Luby’s, Inc. is a Houston-based cafeteria chain that planned to liquidate its assets and dissolve the company. Black Titan Franchise Systems, LLC was formed as part of the agreement and for the sole purpose of owning the Fuddruckers brand.
“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 franchisee, 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 told MSN.
A Fayetteville, North Carolina native, Perkins earned his Bachelor of Science degree in Business Administration and Management from Fayetteville State University before attending Howard University, where he received his Master of Business Administration. Fuddruckers currently has over 92 locations and at the restaurant’s height, more than 500 locations were spread throughout the U.S.
“Our strategy long term will be to grow our franchise operations individually, to bring in new franchisees both internationally and domestically as well as looking to find strategic marketing partnership opportunities to be able to grow and sustain the brand long term,” Perkins explained in an interview with HBCU Digest.
Perkins also announced on Instagram that Benedict College in South Carolina is the first HBCU to ever have a Fuddruckers on campus. The location is just one of many ways Perkins has reinvested back in HBCU’s by supplying jobs as well as donations in the past.