How Pinky Cole Regained Control of Slutty Vegan

Key Takeaways

Pinky Cole temporarily lost control of Slutty Vegan earlier this year through restructuring, but quickly bought it back.
She launched Slutty Vegan 2.0, focused on operational discipline, profitability and smart franchising.
Her comeback offers a playbook for founders on ownership, humility and long-term sustainability.

After temporarily losing control of her company amid a debt restructuring, Pinky Cole — founder of Slutty Vegan, the Atlanta-born fast-casual brand known for its indulgent plant-based burgers and celebrity fans — has reacquired 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.

You recently regained full control of Slutty Vegan. What did you learn from the process?
The biggest lesson is that you can’t take your hands off the wheel — ever. Early on, I was inside the business every day. Then we grew, I brought in experienced people, and I slid into autopilot. I was still involved as a thought leader and the face of the brand, but I wasn’t in the day-to-day. That’s where founders can get into trouble. When you’re building something for the first time, no one tells you that you can’t just set it and forget it. You’ve got to stay tethered to the vision. Having a vision is one thing. Living it — every day, in every detail — is another.

You’ve described this phase as Slutty Vegan 2.0. What does that mean to you?
It’s 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 stronger foundation with people who have been there before and can show me the way.

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. She’s an operator through and through. I also have a director of operations and consultants focused on systems and efficiency, and I’m looking to bring in a head of operations who lives and breathes process and throughput. My superpower is brand and marketing. So I’m surrounding myself with people whose superpower is operations. Business is always evolving — look at Apple, dropping something new every few months. We’ve got to keep innovating the same way.

Why was now the right time to franchise Slutty Vegan?
My husband, Derrick “D” 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 franchising is the clearest path to scale and generational wealth — if you do it the right way. I used to say I’d never franchise. But when you look at the most successful companies, the ones with the highest valuations are the ones that scale effectively. I wanted scalability and efficiency at the same time. Franchising achieves that, as long as I bring in real operators who align with our vision.

How do you decide who’s the right fit to franchise with you?
First, they have to understand what Slutty Vegan really is. It’s not just burgers and fries — it’s a cultural marker. We reimagined vegan food and made it cool, fun and universal. Everyone can enjoy it. Second, they have to be operators. I don’t need yes people. I want partners who’ll tell me, “Pinky, do this better.” I’m not trying to be the hero. I’m trying to build a sustainable, proven concept that’s respected by communities, customers and investors alike.

Where are you in the franchising process now?
Our FDD is live, and we’re using FranConnect to manage the pipeline. I also brought on a franchise director. We got about 250 leads in the first week — from individuals and investor groups. That blew my mind. It showed me that even after everything the brand has been through, people still love it. That’s what I call a bulletproof brand.

You’ve said before that you’re more self-aware now as a leader. What changed?
I’ve always been self-aware creatively, but I wasn’t always self-aware in business. When I started, I didn’t know terms like EBITDA. I was just a creative who could make something special. So I brought in people who knew that side, and I got too comfortable. Looking back, I should’ve forced myself to learn it, even when it was uncomfortable. As a founder, you can’t delegate understanding. You’ve got to keep learning.

What advice would you give to other personality-driven founders who want to scale sustainably?
Don’t try to be the smartest person in the room. Surround yourself with people who know what you don’t, and pay them to teach you while they build with you. Study why businesses fail, not just why they succeed. Even the biggest companies are closing locations right now, and I want to know why. Curiosity and humility — that’s how you grow.

You’ve talked a lot about ownership and equity impact. How does franchising fit into that philosophy?
If my concept can become someone else’s vehicle to build a life, that’s impact. One founder’s dream can become dozens of families’ livelihoods. That’s 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 just went through, I’m focused on the next 24 months — tightening the system, supporting franchisees and letting the brand marinate the right way. Scale matters, but discipline matters more.

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Key Takeaways

Pinky Cole temporarily lost control of Slutty Vegan earlier this year through restructuring, but quickly bought it back.
She launched Slutty Vegan 2.0, focused on operational discipline, profitability and smart franchising.
Her comeback offers a playbook for founders on ownership, humility and long-term sustainability.