Pinky Cole Hayes faced the entrepreneur’s ultimate nightmare in early 2024. The founder of Slutty Vegan, a plant-based burger empire once valued at $100 million, watched as her beloved company spiraled toward restructuring despite her desperate efforts to save it.
After building a cult-like following and expanding to 14 locations, the 37-year-old entrepreneur discovered her company’s overhead had ballooned to an unsustainable $10 million annually. Though revenue remained strong, the $1 million monthly expenses across all locations created a ticking financial time bomb.
A Friend In Need…
When Cole returned to hands-on leadership in January 2024 after stepping away to focus on motherhood, she made the radical decision to fire her entire C-suite and sell off company assets.
“I had to do what was best for the business, which I realized that the business is what comes first,” Cole revealed during an appearance on the “Earn Your Leisure” podcast. “I had a couple of million in real estate, started selling off the real estate, but I realized that we were too far gone. And for a couple of months, I was fighting it. The conversation was like ‘Hey, we need to put this into a restructuring.’ I didn’t want to do that.”
During this crisis, billionaire businessman Robert Smith emerged as a crucial ally. Smith, founder and CEO of Vista Equity Partners, with an estimated net worth of $7.05 billion, purchased one of Cole’s properties in Washington, D.C.
This transaction provided vital liquidity during Cole’s desperate attempt to patch financial holes before eventually losing control of her brand in February 2025.
Cole emphasized the value of having high-powered connections in moments of crisis.
She explained, “It pays to have people in your corner, right, who are resourced qualified. Because that was a pick up the phone, ‘Hey Robert, I know everybody leans on you for everything, but I got this portfolio, I got this $10 million portfolio.’”
The relationship between Cole and Smith predated this emergency, allowing her immediate access during the critical situation.
“I had a relationship prior to that moment. I could pick up the phone and call him, he always give me advice anytime I reach out to him,” Cole explained, highlighting how Smith’s rapid response demonstrated the critical importance of strategic networking for entrepreneurs.
Smith has established himself as a powerful advocate for underrepresented entrepreneurs.
Beyond his investment activities at Vista Equity Partners, which focuses on enterprise software and technology-enabled businesses, Smith’s philanthropic work includes initiatives specifically designed to support entrepreneurs from marginalized communities, Everfi reports.
His most public gesture came in May 2019 when he pledged to pay off $35 million in student loans for Morehouse College’s graduating class.
Smith later founded the Student Freedom Initiative to create more sustainable solutions for education funding, particularly aimed at students at hyistorically Black colleges and universities (HBCUs) and minority serving institutions.
This program provides low-interest loans with flexibility for life interruptions and potential forgiveness for graduates working in community service or lower-paying sectors.
Despite losing control of Slutty Vegan through restructuring, Cole orchestrated an impressive comeback.
Just weeks after the restructuring, the Clark Atlanta University alum repurchased her company through an entity named “Ain’t Nobody Coming to See You, Otis LLC.”
The emotional journey represented her second major professional resurrection, following the 2016 fire that destroyed her first Harlem restaurant and left her facing car repossession and eviction.
Now focused on “Slutty Vegan 2.0,” Cole has scaled back to eight locations across Georgia, Alabama, Maryland, and New York, while planning global expansion to Dubai and Africa.
Her vision extends beyond burgers to Bar Vegan, a cocktail concept, and Hayes Hospitality Group, a joint venture with her husband Derrick Hayes, owner of Big Dave’s Cheesesteaks.
Cole views her struggles as educational opportunities for other entrepreneurs, particularly startup founders.
“The biggest businesses in the world have gone through changes,” she observed, transforming her difficult experience into a coaching moment.
She added, “I realize I am an educator beyond Slutty Vegan. The vessel for me is to show other entrepreneurs that you can do this.”
