Welcome back to another episode of the Franchise My Business podcast, hosted by Kevin Oldham! In today’s episode, we have an exciting lineup of topics to dive into. We will be joined by our amazing guest, the Founder and CEO of Baya Bar, Bill Loesch. In early 2016 Bill was at a crossroads. Chasing a Wall Street dream glorified by the film industry, he started working for a firm in 2013 where he earned his Series 7 & 63 licenses, but after a few years decided to make a change.
From the humble beginnings of running the location as investors to facing unexpected challenges, Bill shares their experiences and the valuable lessons they’ve learned along the way.
As we uncover pivotal moments on Bill’s journey, we ponder the factors that contributed to their current success. Was it the decision to franchise in 2018, or was it the result of daily focus and incremental progress? We explore the role of genetics in their entrepreneurial spirit and examine their early ventures, selling candies in 2nd grade and starting a painting and power washing company in their teenage years.
Stay tuned, because this episode is full of valuable nuggets that are sure to inspire and empower you on your own journey.
Let’s dive in!
HIGHLIGHTS:
How a Passion for Health Transformed into a Food and Beverage Career – Bill Loesch
“So I’ve always been big into health and wellness, fitness. You know, obviously, as you get a little older and busier with business and have a family, it’s tougher to manage all of it. But I was a 5, 6 day a week gym guy. I was doing a lot of my own meal prep. So I was very health conscious. And just, you know, even when you fall off the wagon, you still have the overall knowledge, right, of what’s good, what’s not good. So I always had an interest in food and beverage and in the health side of things when it comes to food and beverage, but I really never thought I would ever be involved in food and beverage from a business”
The Franchising Formula: How to Scale Towards a Billion-Dollar Valuation – Bill Loesch
“Any business that I’ve been interested in the past, I’ve always used this billion test that I like to give. I ask, what’s the pathway to billion? Whether it’s, you know, $1,000,000,000 valuation or becoming a billionaire. So in any of my past ventures, I could see what the pathway was to billion. Not that it’s Not necessarily going to happen. Not that it’s easy, but what’s the pathway? So when I got into Baya Bar when I started the company, I said to myself, what’s the pathway to billion? And there were really 2 answers. It was raising a ton of capital and opening up all these corporate stores, Which your pathway to a billion is actually in some senses faster because you’ll be making more money with corporate owned locations.Or a little bit less upfront capital intensive, go the franchising route. And, you know, the individual store won’t be generating as much revenue, but you could probably scale it a lot faster. So I decided with my team that we were going to go the franchising route. Pretty early on, I would say about a year into it. And then within little less than a year later, We had done all of the legal paperwork. We had our FBE, and we started franchising in 2018.”
Connect and learn more about Bill Loesch by visiting his socials below:
- LinkedIn: https://www.linkedin.com/in/bill-loesch-956704122/
- LinkedIn: https://www.linkedin.com/company/baya-bar/
- Website: https://bayabar.com/franchising/
Find out more about Kevin and Franchise My Business:
- LinkedIn: https://www.linkedin.com/in/kevinoldham/
- Website: https://kevinoldham.live/
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