He raised eyebrows, but usually was proved right, with ideas such as restocking theater refreshment stands in predominantly black areas with sweeter drinks, spicier hot dogs and Buffalo wings.
He followed the same strategy at many of his Starbucks, changing the music to R&B tracks and offering sweet potato pie in addition to scones, he said.
Longtime Johnson business agent Lon Rosen, who is at William Morris Agency, recalled occasions when he second-guessed Johnson's untested strategies.
"He'd say, 'I know my community, Lon. Remember, I happen to be black,' " Rosen said.
Johnson since has struck equity and licensing deals with such diverse partners as Burger King, Royal Caribbean International, food services firm Sodexho and health insurer Aetna. Johnson also joined forces with L.A. billionaire Ron Burkle on a fund focused on urban markets.
"Now companies are reaching out to us, saying, 'Hey, we want to go into urban America but we don't know how to do it, so we need to be with you because you're trusted. You have the blueprint, you can teach us what we should do and shouldn't do,' " Johnson said.
Johnson's urban investments are run through an alliance with Robert "Bobby" Turner, a managing partner of Canyon Capital. The Century City investment firm manages about $20 billion worth of assets.
The first Canyon-Johnson Urban Fund struggled for two years to raise $300 million to invest in urban neighborhoods. A subsequent fund raised $600 million in a matter of months and the third iteration was oversubscribed in a matter of weeks, Turner said.
The funds have helped finance affordable housing and retail space in such locales as Los Angeles, Atlanta, Brooklyn, Houston and San Diego.
Canyon-Johnson has had its share of high-profile deals in Los Angeles. The fund was involved in the $100-million purchase of the 32-story former Transamerica Center complex downtown that subsequently was renovated and sold for $205 million.
Canyon-Johnson also had a stake in Sunset+Vine in Hollywood, which was built for $125 million and sold for $160 million.
On occasion, though, Johnson has shot the business equivalent of an air ball.
In 1992, he opened a short-lived sporting goods store in Baldwin Hills. Rather than listening to younger consumers, Johnson said, "I lost $200,000 because I was messing around and buying everything an old man liked."
