The FORT Podcast: Brady Wood
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.
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(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 this 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?
Episode Summary
Brady, whose expansive journey encompasses various roles, ventures, and strategic decisions in the sectors, brings to the fore a compendium of insights, experiences, and strategic reflections that are both enlightening and invaluable for listeners navigating the realms of real estate and restaurant management.
The conversation initially ebbs into the financial undercurrents of returning to space in the restaurant industry amidst the post-pandemic landscape. Brady deftly outlines the meticulous investment, strategic planning, and cost management required to reestablish and manage a restaurant, particularly reflecting upon the economic and operational dynamics of the industry within the real estate context. His discourse provides listeners with a pragmatic, insightful view into the economic and strategic facets of investment and management in the real estate and restaurant sectors, offering tangible takeaways regarding investment, cost management, and strategic maneuvering.
Transitioning into a narrative imbued with personal experiences and reflections, Brady navigates through his journey, elucidating his experiences, investments, and the evolution of his ventures in the real estate and restaurant sectors. The dialogue explores the complexities of establishing, managing, and potentially, divesting from businesses, providing listeners with a nuanced view into the business aspects of the sectors. It explores themes of investment, growth, and strategic management, offering a perspective that intertwines personal experiences with strategic insights, providing a guide that is as reflective as it is instructive.
Brady further delves into the intricate operational and strategic aspects of managing outdoor spaces in real estate projects and restaurant spaces, reflecting upon the post-pandemic dynamics of the industry. The discussion provides insights into the strategic, operational, and financial considerations and strategies essential for managing, sustaining, and growing in the post-pandemic real estate landscape, offering a perspective that is enriched with practical insights and strategic foresight.
The dialogue also ventures into the exploration of shifts and developments in the real estate market, discussing aspects like relocation, the dynamics of the Dallas real estate market, and the influx of various professionals into the city. Brady’s insights into market dynamics, investment considerations, and strategic aspects of navigating and leveraging shifts and developments in the real estate market provide listeners with a comprehensive view into the strategic and investment aspects of the sector.
Navigating into a personal and reflective discourse, Brady explores his experiences and learnings, discussing personal ventures and reflections on relocation, decision-making, and life and business changes. The dialogue offers listeners a personal perspective into the intertwining of life and career decisions in the real estate industry, exploring the personal and professional dynamics of decisions related to relocation, career shifts, and lifestyle changes, providing a view that is both personal and professionally relevant.