Derrick Faulcon knows what it takes to build something from the ground up. The Baltimore native and seasoned entrepreneur transitioned from running a restaurant in his hometown to launching a thriving donut shop in SoHo, NYC. On the latest episode of Earn Your Leisure, Faulcon sits down to share the strategies behind his success, the importance of calculated expansion, and why collaboration is key for Black business owners.
From Baltimore to SoHo: A Strategic Move
Moving a business from one city to another is no easy feat, but Faulcon saw an opportunity in SoHo’s bustling market. “Location is everything,” he explains. “SoHo is a hub for culture, tourism, and foot traffic—exactly the kind of place where a niche food business can thrive.”
While many entrepreneurs hesitate to expand into unfamiliar markets, Faulcon emphasizes that success comes from adaptability, research, and surrounding yourself with top-tier talent. He firmly believes that assembling the best minds in one room is essential for long-term success, particularly in the Black business community.
Seven Income Streams—From Donuts Alone
One of the most eye-opening takeaways from the conversation is Faulcon’s approach to revenue diversification. Rather than relying on a single income source, he has developed seven different revenue streams from his donut business alone. These include:
- Retail sales from his SoHo shop
- Wholesale partnerships with local cafés and restaurants
- Catering services for events and corporate clients
- E-commerce sales through online orders and nationwide shipping
- Pop-up collaborations with brands and influencers
- Franchise opportunities for future expansion
- Merchandising, selling branded apparel and accessories
Faulcon’s strategy highlights a crucial lesson: true wealth-building isn’t just about making money—it’s about creating multiple ways for money to flow in.
The Entrepreneurial Mindset & Overcoming Loneliness
Beyond business strategies, Faulcon gets candid about the emotional side of entrepreneurship. He discusses the loneliness that often comes with the journey and the importance of having a solid support system. His partnership—both personal and professional—with Zewditu Jewel plays a key role in his success. Together, they navigate the highs and lows of business ownership while maintaining shared goals and a unified vision.
“A strong mindset is everything,” Faulcon says. “You have to be willing to push through the hard days, stay focused, and keep evolving.”
Building Black Wealth & Long-Term Growth
As the conversation unfolds, Faulcon shares his broader mission: fostering Black entrepreneurship and creating generational wealth. He stresses the importance of knowledge-sharing, collaboration, and strategic planning to ensure sustained growth.
“Success isn’t just about getting there,” he says. “It’s about staying there and bringing others with you.”
With a thriving donut business, a growing presence in the food industry, and a commitment to empowering others, Derrick Faulcon is proving that the right mindset—paired with smart strategy—can turn a simple product into an empire.
