Brandon Maxwell isn’t just the CEO of M Culinary Concepts; he’s a visionary leader who’s reshaping success by sharing it with those who helped build it. In 2023, M Culinary made a bold move, transitioning to an Employee Stock Ownership Plan (ESOP), making it 100% employee-owned. This decision wasn’t just about numbers on a balance sheet. For Maxwell, it was about legacy — building a business that thrives on the collective contributions of its people.
Maxwell’s hospitality journey is rooted in hard work and firsthand experience. At 14, he washed dishes in his parents’ restaurant, growing into roles as a cook, bartender and, eventually, manager. Recognizing the transformative power of a well-functioning team, Maxwell pursued a degree in Hotel Administration from Cornell University, blending academic rigor with real-world experience. He started his professional career with Hyatt Hotels and a national restaurant startup called Sfuzzi, where he honed his skills.
His first venture as an entrepreneur was a restaurant and nightclub in California, where he learned a lesson in resilience when a natural disaster forced him to close down. This setback could have derailed his dreams but, instead, it led him to Scottsdale, Arizona, where he partnered with Chef Michael DeMaria to open Michael’s at the Citadel in 1997. What began as a restaurant soon evolved into something bigger. Catering requests flooded in and, by 2008, M Culinary Concepts had dedicated itself entirely to the catering business.
Today, M Culinary is a powerhouse in the catering industry, known for delivering exceptional experiences at events like the WM Phoenix Open, where it serves more than 200,000 people. The company’s success is deeply tied to Maxwell’s leadership style — one that values collaboration, innovation, fun and, now, shared ownership.
For Maxwell, the secret sauce behind M Culinary’s success has always been its people. From day one, he fostered a culture of teamwork and problem-solving. “We didn’t always have all the answers beforehand, but we had each other — a team pulling on the rope together,” he reflects. This “figure it out” mentality became the bedrock of the company’s operational approach, enabling it to tackle events of all sizes and complexities.
The decision to transition to an ESOP stemmed from Maxwell’s desire to protect that culture and ensure the company’s long-term success. With no family members interested in taking over the business, Maxwell had to look beyond the traditional succession plan. He wanted to reward the people who had helped build M Culinary into what it is today. Selling to an outside entity wasn’t the answer. The answer came in the form of an ESOP.
An ESOP is more than a retirement plan; it’s a powerful tool that gives employees a tangible stake in the company’s success. Over time, shares of the company are distributed to full-time employees, allowing them to benefit financially as the company grows. This creates a sense of ownership that goes beyond the paycheck. Employees know that their hard work directly contributes to the company’s profitability — and to their own future financial success.
This shared ownership model is a long-term commitment. It’s not a quick path to wealth, but, as Maxwell explains, it’s a sustainable way to build financial security. When employees leave or retire, they can sell their shares and potentially reap a significant reward. “The more successful the company, the more valuable those shares become,” says Maxwell.
The road to becoming a 100% employee-owned company wasn’t without its hurdles. To navigate the complexities of the ESOP structure, M Culinary partnered with WealthPoint, a Phoenix-based wealth management and ESOP administration company. Its guidance was crucial in ensuring the transition went smoothly.
But the biggest challenge wasn’t legal or financial — it was educational. “We had to ensure that every employee understood what it meant to be an owner,” says Maxwell. Today, M Culinary’s employees are more engaged and invested in the company’s success than ever before.
Maxwell believes the ESOP has already started to pay dividends, not just financially but culturally. Employees are more motivated, more collaborative and more committed to delivering the exceptional service that M Culinary is known for. This shared sense of responsibility and ownership is what sets the company apart in the competitive world of hospitality.
Looking ahead, Maxwell is excited about what the future holds for M Culinary Concepts as a 100% employee-owned company. “We’re in this together,” he says. “Every success we achieve is a success for all of us.”
The Secret Sauce
- M Culinary Concepts is now 100% employee-owned through an Employee Stock Ownership Plan (ESOP).
- Employees receive shares in the company over time, creating a long-term financial benefit.
- The company has catered major events like the WM Phoenix Open for more than 24 years.
- CEO Brandon Maxwell started in the industry as a dishwasher at age 14.
- As Maxwell looks to the future, he sees more engaged and invested employees sharing in M Culinary’s success.
Did You Know: The ESOP model at M Culinary allows employees to own a piece of the company without any upfront financial investment. Over time, these shares can grow in value, offering a unique retirement benefit tied directly to the company’s success.
