01 Mar 2003
Dick Franyo: From Banker to Barkeeper
Another in a series of occasional articles on HBS graduates who haveembarked on second careersby Deborah BlaggTopics:
With thirty years in the investment banking business under his belt, Richard L.
Franyo (MBA 72), then managing director of investment banking for Deutsche Bank,
was ready for a change. But after a heady career that included playing a key role
in building Alex. Brown & Sons technology division and guiding the IPOs of
giants such as America Online, Novell, Microsoft, Sun, and Oracle, Franyo, an
avid sailor and fly-fisherman, knew he had to do something more than just go
home and organize my tackle box.
I wanted to prove to myself that I could do something I didnt know anything
about, but something that fit my personality and lifestyle, explains the affable
Franyo, who is now the proud proprietor of the Boatyard Bar & Grill, located in
the Eastport section of Annapolis, Maryland.
Prior to retiring in March 2002, Franyo had acquired a down-and-out pub near his
home. The old structure was leveled and in its place rose what his wife, Susan,
refers to as the couples dream bar.
Susan and I traveled from the Caribbean to New England, taking detailed pictures
of the interiors of bars frequented by sailing people, he notes. We envisioned
lots of beautiful woodwork, natural light, and pegs on the walls to hang foul
weather gear. Perhaps most of all, the Franyos wanted the Boatyard to fit in
with the relaxed nature of the Eastport maritime community, to be a place where
the guy who owns a Hinckley can swap yarns with the guy who scrapes the
barnacles off his hull.
And we wanted it to be casual and kid-friendly, adds Franyo, the father of a
one-year-old as well as a son and daughter who are now in their twenties.
The menu at the Boatyard (www.boatyardbarandgrill.com) is eclectic, with generous
drinks sharing the bill with moderately priced Chesapeake Bay and
Caribbean-inspired appetizers and entrées. Franyo meets daily with the Boatyards
chef and general manager, Tammy Reece, to go over the menu and discuss management
issues, then puts in his time picking up cigarette butts and bottle caps before
the bar opens for lunch. He spends hours planning promotional and charitable
events, which often are tied to the cleanup of the Chesapeake Bay. (One percent
of the bars revenues are donated to The Chesapeake Bay Foundation and other
At the Boatyard, what were really selling is a lifestyle, says Franyo. And
its a lifestyle Ive always wanted to follow.
Class of MBA 1972, Section D