FWM’s Queen of Real Estate Issue (May/June print) features formidable women at the top of their game who are making serious boss moves in the real estate arena, an industry traditionally dominated by men.
Adenah Bayoh does it all. She is a real estate mogul, restauranteur, philanthropist and the founder and CEO of Adenah Bayoh and Companies owning IHOP restaurants in Newark, Patterson and Irvington, New Jersey. Adenah is also a champion of urban redevelopment, employment and entrepreneurship, most recently with her farm to table, soul food restaurant line, Cornbread. She exemplifies the American Dream.
FWM: Adenah, thank you so for giving me the pleasure of interviewing you for our magazine. Introduce yourself and your business?
AB: I am Adenah Bayoh, the founder and CEO of Adenah Bayoh and Companies, which is the parent corporation for my real estate development projects and restaurants. I am a partner in several major residential and commercial urban redevelopment projects throughout northern New Jersey including in Newark, East Orange, and Irvington. Some of these projects also incorporate some of my restaurants onsite. I am an IHOP franchisee with locations in Newark, Paterson, and Irvington, New Jersey. Also, in November 2017, I launched my own fast casual, farm-to-table soul food restaurant, Cornbread.
FWM: What first drew your interest to the real estate industry?
AB: My grandmother was a great inspiration for me and she owned a lot of real estate in Liberia. I’ve always admired her success as a businesswoman and I still strive to emulate her. When I was a student at Fairleigh Dickinson University, I served as an RA in the dorms where I learned the very basics of what it’s like to be a property manager. After graduation, while working in banking, I purchased my first home, a 3-family investment property in Irvington. I lived there and rented out the other 2 units.
FWM: As a woman in real estate, what do you feel has been the hardest obstacle to overcome?
AB: Access to capital – without a doubt. I was denied by 7 banks when I was applying for a loan to open my first IHOP. However, I refused to allow these “no’s” to discourage me. With each denial, I honed my pitch, made sure I had an answer for all of their questions, and anticipated every potential issue so by the time I spoke to that 8th bank there would be no way they could say no. Nonetheless, despite my experience and success in the industry access to capital continues to be a challenge for me and other women in real estate and business generally.
FWM: I read that you came to the United States from Liberia at the age of 13. What was your first impression of the U.S.?
AB: When I immigrated to the U.S., I lived in public housing in Newark and attended public schools. I loved the U.S. It was like a dream. America is an amazing place, especially coming from the refugee camp. I was so happy to be here, I felt like a kid in a candy shop. Once I got to school, I realized just how behind I was, but I was blessed to have amazing teachers who helped me to catch up and succeed. When I arrived in this country, I was placed in the 7th grade due to my age, but my education level was 2nd or 3rd grade. Thanks to the help of my teacher, I graduated as one of the top 10 students in my class.
FWM: I know that your grandmother was a great influence in your life. What is the greatest piece of advice she gave to you?
AB: My grandmother would always tell me, “you have to wake up before everyone else and do more than everyone else.” She didn’t say this because it’s an inspirational quote, she lived her life every day this way. My grandmother raised me in Liberia while my parents were in America working to pay for our education. But that’s not the only thing that makes her amazing—she owned over 100 acres of farmland and she owned restaurants. She was respected by the entire community and continues to be my inspiration. When I was 6, she saw that I had a skill for business and she put me to work in her restaurant. I was blessed to have business experience at that age guided by a mentor I cherish.
FWM: What tools and/or strategic partnerships have you put in place to help women? And the community?
AB: I pride myself on hiring staff from diverse backgrounds. The managers at my restaurants are predominantly women, and a significant number of my restaurant staff are LGBTQ. A main reason I focus my businesses in underserved cities such as Newark is so the residents of these communities are provided with attainable, well-paying jobs close to home. My IHOPs also provide job training to new employees through a partnership with the Urban League of Essex County. We train those in reentry programs, looking for a career change, or simply looking to begin their career in restaurants.
I’m thrilled at the quality of the staff that I have hired through these programs—especially since they can take pride in serving their own community. I also believe it’s important to give back to the community that treated me so well, and it’s my privilege to host a free breakfast program for children under 12, and dinners for needy families during the holidays. I want these families to know that they are appreciated and valued.
FWM: What is next in the life of Adenah Bayoh?
AB: I am about to start construction phase 2 of my redevelopment project in Irvington, phase 1 of which consists of a recently completed 114 unit mixed-income residence. This project is the first major redevelopment in Irvington Township in decades, and it revitalized the former hospital site, which was vacant and blighted for approximately 15 years. My partners and I are committed to the continual development of Irvington, a community that has long been overlooked by investors. Next year, we will complete construction on 915 Broad Street, an 84-unit mixed-use development that will include my newest IHOP location as well as a Cornbread location in the commercial space.
FWM: How can people connect to you outside of this interview?
AB: You can follow what’s going on at Cornbread on Instagram at @cornbreadmaplewood. Or you can go to my website at http://adenahbayoh.com. And you are more than welcome to come to any of my restaurants to say hello. I’m there all the time!
All photos courtesy of the Tara Dowdell Group
