Slutty Vegan Founder Pinky Cole Bought Back Her Company, Now She’s Inviting Others To Grow It With Her
Pinky Cole Hayes has announced that Slutty Vegan is welcoming people to become franchisees of the company. Once a business becomes a franchise, it allows other people to sell goods through a licensing relationship. It also grants rights from one party to another.
The new move will allow the business to expand. Cole hired former Planet Fitness and 7-Eleven exec Shawntel Daniels as franchise president, who has hinted that a high-profile celebrity will be the first franchisee. “I went to restructure on February 13, 2025, and then I repurchased the company on March 28, 2025. We’re in September, and I’m about to announce franchising,” Cole Hayes expressed to Franchise Times.
Slutty Vegan’s history
Slutty Vegan was valued at nearly $100 million, including $25 million from a Series A funding round led by Danny Meyer’s investment group, Enlightened Hospitality, and Richelieu Dennis’ New Voices Fund in 2022. However, the business has faced numerous challenges, including losing a location at Spelman College, accumulating $20 million in debt, and incurring weekly expenses of $100,000, according to Franchise Times.
The company underwent a global shift on February 13, 2025, where Cole admits to losing control of the business. “I really want to show other entrepreneurs that even though it’s hard … you can redeem yourself, and you can come back from a tough situation, and you can rise above and come back on top,” Cole adds.
Slutty Vegan welcoming Franchisees
The company is now ready to welcome franchisees. Hayes shares that she was inspired by her husband, Derrick Hayes, who has franchised his company, Big Dave’s Cheesesteak.
Daniels, who was hired as a franchise president for Slutty Vegan in August, said: “What I want to focus on is making sure that these are people that are true entrepreneurs, that have some restaurant background, that understand food, and it’s not just someone that’s really excited about being a part of the brand.”
Slutty Vegan has not shared average sales in its franchise disclosure document. The cost to open a franchise location ranges from $555,900 to $1,166,500. Franchisees who buy a single restaurant can also add a food truck at a cost of between $255,750 and $312,000.
Image: Paras Griffin
