How Seven Haitian Americans are Establishing Black Wealth against all Odds
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Restructuring a New American Dream that Incorporates Black Wealth
If you haven’t noticed by the title or the picture with the Haitian flag, we are Haitian-Americans.
Haitian Americans are Americans of full or partial Haitian descent. Generally, our parents migrated to the US in search of better opportunities, settled, found labor and grew roots. To quote Toussaint L’Ouverture, we are “numerous and deep.”
Apart from bringing our culture, our parents pushed us to attain college degrees, careers and then miraculously get married and have babies.
While they worked hard and long hours, we had to figure out this new land on our own. In order to build wealth; we had to discipline our spending habits, pay down debts where it is owed, increase our income, and invest in small businesses, the market and in real estate.
We have a lot to prove and a lot more to accomplish.
1st Time Wealth Creators
Our first obstacle includes overcoming insurmountable odds:
- 43% of Black workers are in jobs that pay less than $30,000 annually,
- 2.7 Million Black Americans live in wealth “deserts,” which lack vital services,
- The avg Black household wealth is headed to Zero by 2053,
- The average black student loan borrower owes about $34,000 compared with about $30,000 for white student borrowers, and
- All this while White and Asian households amassed +10x the median wealth and Black and Brown households.
Stepping out on chance and Starting a Business that will generate wealth
To solve this, the modest trajectory is still Lekol, Legliz and Lakay (translation – School, Church and Home). our parents were right. Just like the Trinity, there are 3 ways to tackle wealth; you can spend less, earn more, and invest the difference. Or better yet, do all three.
Reordered, it’s always been in our face:
- EDUCATION (Mind) – Not just any major or job will do. High school students should spend at least 3-6 months figuring out their post High school trajectory. STEMS are in demand and pay extremely well. Additionally, we will need to develop soft skills after school or on the weekends.
- HOME (Body) – Setting up a structured home, values and ethos pay off in dividends. Without it, most people end up aimless. In the end, you have to create SMART goals. Following renowned Tennis Player Naomi Osaka’s lead, “It’s OK not to be OK.” Health is truly wealth, no matter what stage in life you are in.
- FAITH (Spirit) – Since the journey is long and difficult, you will need faith. No way around that. The challenges are part of life and unfortunately many are swept under the current of depression and anxiety. However be comforted that dedication and hard work yields success.
Check Out Favorite Haitian American Businesses
1. Haitian Brand Makes History With QVC Debut
Kreyol Essence, LLC. made its historical debut on the shopping channel that reaches approximately 85 million American homes.
The offer included the Kreyol Essence Haitian Castor Oil Scalp Care three-piece kit featuring oil, shampoo, and conditioner.
The company was founded by Yve-Car Momperousse, who appeared on the QVC promotion and told viewers about her own personal story of Haitian Black Castor Oil that her grandmother and aunts all used on Saturday mornings on her hair.
The creation of KE was also fueled by Momperousse’s vision to stimulate economic activity in Haiti. According to the KE website, Momperousse as a long-time activist in the Haitian community, saw that the people of Haiti needed jobs instead of aid.
The company’s founder appeared on Shark Tank and agreed to give “Shark Tank” investor Kevin 5% equity for a USD 400,000 investment and a 25 percent royalty on every item sold in perpetuity.
In 2017, its sales hit $327,000 and, a year later, they reached $1 million. In 2019, Kreyol Essence surpassed $2 million in sales. The brand’s assortment spans 35 stockkeeping units. Accounting for 50% of sales, Haitian Black Castor Oil products are Kreyol Essence’s bestsellers via Amazon and its website.
2. A Taste of Haiti in a Box
Taste of Haiti Box was started for a simple reason: to bring authentic artisan Haitian products to your doorsteps.
This makes it easier to get local Haitian products by connecting people with locally-based merchants, artisans, and businesses. The products vary from foods, beverages, artisanal jewelry, health and cosmetic products, local arts and crafts.
Their bi-monthly subscription is unique, constantly changing the theme, ensuring that you will not get the same items twice.
The aim is to promote the tantalizing, tasty, aesthetic commodities that Haiti has to offer while unifying the Haitian community and providing ongoing economic opportunities for Haiti’s native merchants beyond the island. Through each box, you’ll learn something different about our beloved “Perle des Antilles”.
3. Coffee and Culture: This Haitian-American Entrepreneur Is A Woman Who Can Do Both
If you took a snapshot of Cassandre Davilmar’s career path, one thing you’d find she does not play it safe.
Davilmar left her hometown in Florida in 2010 to pursue her dream of being in law at the illustrious New York University School of Law — where she met her now business partner, Isiah Michael.
She decided to quit her job and start two businesses with Michael: Classic Man Barber Lounge and a Haitian-inspired coffee shop Lakou Cafe, within five months of each other — with no investors.
As of 2022, Lakou Cafe is a celebration of the community. Their goal was to create an oasis that nourishes our community physically, mentally and spiritually through healthy food, engaging and educational conversations and artistic expression.
Since, the cafe has been featured on Forbes, NPR, local NY news, and more.
4. From Haitian family tradition, ginger root tea made in Philadelphia
As children in New England, brothers Georges, Pascal and Reginald Marcellus helped their Haitian parents make tea from ginger root, a warm and faintly spicy drink that could soothe a sore throat, settle an upset stomach, or warm cold hands on a winter day.
The brothers founded Dorpare Tea, a line of organic ginger root tea flavored with fruit that evokes the tastes of their youth.
Dorpare sold in eight states, moved its manufacturing from Washington to Philadelphia, where it’s carried exclusively at Green Aisle grocery stores.
The ginger loose-leaf tea comes in four varieties: turmeric and lime; raspberry; lemon; and pineapple. The turmeric and lime flavor creates a bright, almost currylike color when steeped. The ginger gives it a warm spiciness, and hints of citrus make it taste refreshing even when it’s hot.
5. 19 Black Owned Business You Can Shop in 2020
Sophie Patel is a proud Haitian and Founder of Ginen Wrap, a bold and vibrant headwrap collection inspired by Haitian fashion and culture.
Ginen Wraps are designed to make everyday feel like a dream. Whether you need a protective style or headed to the beach, Ginen Wrap has you covered.
Shop Ginen Wrap here: https://ginenwrap.com/)
6. Dentist fights tooth and nail to open her clinic amid pandemic
Dr. Ashley Fagan secured a business loan from Bank of America and hired a consulting firm to help work out the details.
After scouting, she landed in NoMa. She even put pen to that lease just days before the pandemic swept into the D.C. region.
“I’ve definitely asked myself: Am I doing the right thing? Should I wait?” Fagan said. “I really had to pray about it.”
Ultimately, Fagan, the daughter of an Army dentist, realized she can only control so much — and she pushed forward. After all, she knew the pain of the pandemic from several angles. While building La Luxe Dental, she also worked as a part-time dentist at a Calvert County practice until she was furloughed in March as part of Covid cutbacks.
“It was very nerve-racking,” she said. She didn’t rest, using that time to take more dental education courses and tune into podcasts about how to open a small business, even as she oversaw construction at her office.
She’s been on top of her game ever since.
7. A millennial couple increased their net worth from zero to $500,000 in 4 years by making 5 strategic money decisions
In 2017, Doreen and Lawrence Delva-Gonzalez had a net worth of zero dollars. Four years later, the couple ballooned to +$500,000. They’ve also designed the Net Max Financial plan to reach millionaire status. The goal is to live a better life while making the most opportunities today.
While others perceived it to be a sacrifice, the couple love to dine out in DC and even travel. In 2019, they flew and visited 12 countries in 14 days.
- Change your mindset about money to start setting S.M.A.R.T goals;
- Use FREE apps to track their cash flow i.e. Personal Capital ($20 for $20 referral link) or Mint.com and use Investment apps such as M1 Finance (Limited time $50 for $50 referral link, normally $10 for $10);
- Invest as much as possible, in yourself, your relationships, your work, rental property; and
- Live your authentic life beyond earning, spending and social media.
Wealth Disclosure:
This post is brought to you by the Neighborhood Finance Guy. We highlight financial literacy information, resources, and more on your way to money management goals and personal wealth. Our goal is to help you make S.M.A.R.T.E.R decisions with our money. We do not give investment advice or encourage you to adopt a certain investment strategy. Your personal finance is up to you.
If you take action based on one of our recommendations, the winning results are yours. The goal is to improve society and outcomes.
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