From cutting grass at 14 to helming a billion-dollar hospitality empire, Warren Thompson’s entrepreneurial journey embodies the American dream. After spending nine years at Marriott Corporation, Thompson took a bold leap in 1992, investing $100,000 to found Thompson Hospitality Corporation. That gamble has paid off spectacularly: today, his company stands as the largest minority-owned food service and facilities management company in the U.S., employing 6,000 associates across 45 states and six countries. Under his stewardship, Thompson Hospitality operates an impressive portfolio of 18 restaurant brands—including Matchbox, Milk & Honey, and Big Buns—across more than 70 locations. But what truly sets Thompson apart isn’t just the scale of his success; it’s his unwavering commitment to fostering entrepreneurial thinking within his organization, a philosophy that has transformed Thompson Hospitality into both a business powerhouse and a model of workplace innovation.
In this candid interview, Thompson shares insights on leadership principles, diversity initiatives, pandemic adaptations, market strategies, and his vision for the future of hospitality.
What inspired you to start Thompson Hospitality, and what were the biggest challenges you faced in its early days?
At an early age, I learned the importance of hard work, focus and determination. I started out at 14 with a grass-cutting business and then progressed to selling produce out of a school bus at 15 and then purchased my family’s hog business from my father at 16 – it is safe to say I was always an entrepreneur.
Upon graduating from my MBA program, I joined the Marriott Corporation as an assistant manager at a Roy Rogers and after nine years with the organization, my entrepreneurial spirit could not be contained any longer. Soon enough I pursued my vision of becoming a restaurateur and created Thompson Hospitality in October of 1992 with a personal investment of 100K.
One of my proudest accomplishments was having my siblings join me very early on – it was a special time. My dad passed away very soon after starting the company, but it made me very proud for him to see the early days. He said “he saw everything he needed to see” which gave me a lot of relief and pride.
How do you define effective leadership, and how has your leadership style evolved as Thompson Hospitality has grown?
My biggest job as a leader is to allow Thompson’s employees to do their best. I aim to remove the obstacles that can become problems and ensure everyone has the resources, tools and support that they need to grow and realize their potential.
A moment that stands out to me is from my first job working for someone else – I worked at a hardware store and gave my opinion and he told me “not to think and just do what I say.” So now a main goal of mine is to encourage all employees to think and challenge themselves. We don’t want robots, instead we want our associates to always strive to learn, improve and do things better.
I always say I want to hire entrepreneurs – which I categorize as people who are willing to take calculated risk. During every management interview, I always ask the interviewee if they are more corporate or entrepreneurial. Many think I am looking for the corporate answer, but in reality I’m looking for entrepreneurs. They are the people who want to take ownership of their business and often expect compensation/recognition tied to performance.
What strategies has Thompson Hospitality implemented to promote diversity and inclusion within the company and the communities it serves?
At Thompson Hospitality, promoting diversity and inclusion is deeply rooted in our values and core mission. We’ve implemented several strategies to foster an environment where everyone feels seen, valued, and empowered. Internally, we prioritize hiring and advancing talent from underrepresented groups, ensuring our leadership reflects the diverse communities we serve. Externally, we actively partner with minority-owned businesses and suppliers, boosting their visibility and economic impact, including HBCUs.
The hospitality industry has faced significant challenges, particularly during the pandemic. How did you adapt and lead your team through such unprecedented times?
When COVID hit, we were very thankful that we had a diverse portfolio – we were involved in all different types of food service which were all affected in different ways. For example, our hospital business grew while our college business got hurt a bit. Our corporate business shifted, revenue was down, but we moved more from the “profit and loss model” to “cost plus” by subsidizing to create incentives for those coming in the office.
Additionally, on the retail side, more meals were being consumed at home than ever before so our take out and delivery continued to run higher than 2019. We were also forced to become better at technology which helped to drive consumption into the home and meet the demand. This also allowed for better tech in all of our units, we now aim to deliver food ourselves, without using third party apps, and strive to make it more functional for the operators to execute.
Now, even if customer traffic is somewhat down, when they do come into our restaurants, they are willing to spend more money, so we give opportunities to elevate their dining experience.
With consumer preferences constantly changing, how does Thompson Hospitality stay ahead of trends and maintain a competitive edge?
At Thompson Hospitality, staying ahead of trends and maintaining a competitive edge is woven into the very fabric of our culture. We place a strong emphasis on actively listening to our customers through comprehensive surveys and real-time engagement across all our brands. This dynamic approach enables us to swiftly anticipate and adapt to their ever-evolving preferences, ensuring we consistently meet and exceed their expectations.
Moreover, we maintain a vigilant eye on the broader food and beverage industry by harnessing the power of data analytics and insights. This strategic use of data allows us to stay informed about emerging trends and make well-informed, data-driven decisions. By doing so, we not only stay ahead of the curve but also set new benchmarks in the industry, continually enhancing our offerings and delivering exceptional experiences to our customers.
What advice would you give to minority entrepreneurs looking to establish themselves in competitive industries?
My advice to minority entrepreneurs looking to establish themselves in competitive industries is to stay focused, resilient, and unwavering in your pursuit of success. Begin by thoroughly understanding your industry—know the market dynamics, identify your competition, and pinpoint where you can create unique value. Your unique perspective as a minority entrepreneur is a powerful asset; embrace it fully to differentiate yourself and authentically tell your story.
Building a strong network is crucial. Surround yourself with mentors, peers, and advisors who can provide invaluable guidance, open doors to new opportunities, and support you through the inevitable challenges. Don’t hesitate to ask for help or seek partnerships with others who share your vision.
Lastly, remember that success is a marathon, not a sprint. Celebrate the small wins along the way and stay steadfastly committed to your long-term goals. Your journey may be challenging, but with perseverance and a clear vision, you can achieve remarkable success.
As Thompson Hospitality grows, how do you ensure that the company remains committed to sustainability and ethical practices?
Having a four year old daughter has caused me to be even more concerned about the environment and the world in which we live. Our efforts to control food waste and reduce energy consumption doubled in the last three years.
What are your long-term goals for Thompson Hospitality, and how do you envision the company evolving over the next decade?
At Thompson Hospitality, our long-term goals are centered on growth, innovation, and creating meaningful experiences for both our customers and employees. Over the next decade, we envision evolving by expanding our portfolio, focusing on continuous innovation, and consistently exceeding our guests’ expectations.
Our vision for Thompson Hospitality is to become not just a leader in the hospitality industry, but a company that provides a positive experience in every relationship we are involved in—one guest, one client, and one team member at a time.
