David Mizrahi is the founder of Salt Restaurant Group, the hospitality company behind five restaurants on the Jersey Shore in just five years - including the world-famous Salt Steakhouse.
David’s story is anything but traditional. He dropped out of high school, made millions in real estate as a teenager, and then shifted into hospitality, where he’s now redefining what a kosher dining experience can look like.
In this episode, we dive into his journey - from building businesses at 16, to scaling Salt into a powerhouse brand, to the sacrifices and lessons he’s learned along the way.
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(00:00) Coming up…
(02:37) Making $100k at 16 years old
(04:52) Why David worked at pizza/falafel shops
(05:30) Dropping out of high school
(07:07) If you could go back in time, would you drop out of high school?
(07:24) Making millions per year at 18 in the foreclosure business
(09:53) Why didn’t you stay in real estate?
(11:24) Selling his foreclosure company
(12:10) Has anybody ever doubted you?
(12:55) Buying his first restaurant and turning it profitable
(16:32) Yazdi Entertainment
(17:26) Uncovering hidden value
(18:35) David’s playbook for opening profitable restaurants
(19:58) Receiving a piece of devastating feedback
(21:34) Opening up a restaurant during COVID
(24:03) Why didn’t you delay the launch until after the pandemic?
(25:20) David’s arrangement with Kushner Companies
(28:16) Investing other people’s money
(29:26) 5 restaurants in 5 years: at what point are you expanding too quickly?
(30:16) Competing with yourself
(30:56) Did you ever feel like you spread yourself too thin?
(32:00) How do you manage 5 restaurants?
(33:38) Partnerships and exit strategies
(34:57) Doing business with family and friends
(35:55) Biggest failure: not seeing his wife or 1st child
(36:54) Living apart from his family when first opening Salt
(39:51) Life Vault Films
(41:08) Behind-the-scenes restaurant nightmares
(44:52) Tips to get into the restaurant business
(46:45) 1st step to take if you want to open a high-end steakhouse
(48:44) Serving as a firefighter
(50:19) Giving back through his restaurants
(51:32) What’s next for you?
(52:51) Franchising kosher restaurants
(54:31) Momentum Moment
(55:36) Life’s challenges and failures
(58:47) 3 key takeaways
