As we have previously discussed, when one grows up in Greenwich, CT, there are certain expectations. Prep school, college, Wall Street, death. And in the beginning, Garrett Hoelscher did what he was told. He attended the Brunswick school, then Emory and did a summer internship at RBS. But he was just going through the motions. “Nobody there [was] passionate,” he told Business Insider. “It’s all just numbers and spreadsheets.” (Also, people smoked “two packs a day,” which offended him.) But he still took a job working at Wedbush Investments in LA, where the unhappiness followed. It wasn’t until a transformative weekend in Stratton, VT that decided he needed a change. And that’s when Hoeslscher, whose favorite quotation on Facebook is “Don’t talk about it; be about it,” came up with a plan. To sell waffles in Aspen.
He had spent the week cold calling potential clients and thinking, “I want to be the guy making the calls,” when the sweet aroma from Stratton’s mountainside waffle shack wafted into his nostrils. Lightbulb. He could build waffle shacks on ski mountains where they hadn’t been built yet, like Aspen. Then, he “learned the dynamics of dough and how to bake,” he explains, and spent over 4 months perfecting a secret recipe before “finally figured out what worked.” Hoelscher teamed up with two friends from Brunswick, a private high school in Greenwich, Colin Constantine and Brian Wells, and prepared a business plan to submit to the Aspen board…With two huts, the business should be fairly profitable, bringing in a conservative estimate of about $200,000 in the first year, he says.
Related: Greenwich Youth Abandons Wall Street For Siren Song Of Teddy Bear Manufacturing
He quite RBS because he got tired of jacking himself off everyday.
Sounds to me like he’s just waffling over his career path…
Sounds like a great way to make a lot of dough.
T’is “when one grows up”
I think he’s going to need a bigger waffle iron.
Wetbush is where J.T. Marlin rejects go, other than that I have no concerns.
Wetbush is where J.T. Marlin rejects go, other than that I have no concerns.
Wetbush is where J.T. Marlin rejects go, other than that I have no concerns.
Waffles in Aspen is much, much > making teddy bears with your mom
Waffles in Aspen is much, much > making teddy bears with your mom
Waffles in Aspen is much, much > making teddy bears with your mom
hold up – emory? rbs? this guy is the fraud of greenwich!
waffles are the new pancakes
waffles are the new pancakes
waffles are the new pancakes
I had to add that a waffle business is the NKI…
Looks to me like you just stole this comment directly from the BI comment section on this story. I expect better from the commentariat here, no need to Kouwe up the comment section, it’s bush league.
IHOW??
cold calling for Wedbush Morgan is the new working on Wall Street.
bess actually this guy is close with Matt “Teddy” McCarty- same wick year.
did you play lax with both of them, brah?
Nope. Made the comment there first and then realized no one reads Comstock’s stories (except you and me) and it would be better served here. Besides, it’s a gem.
There are quite a few errors in the business plan that’s posted on BI. Have you no pride for your work, Garrett?
-Guy That Smokes 1.75 Packs/Day, And Is Really Just Bitter Because All He Wants To Do Is Dance And Sell Hot Dogs To Cars While Wearing Roller Skates And A Backwards Baseball Cap
Then you have my sincerest apologies for impugning your integrity. You have restored my faith in the Dealbreaker commentariat, and for that, I thank you.
Good God, this is brilliant. $200k net income in year 1 (even though i’m sure this excludes their salary) on invested capital of…. some dead trees they find in the woods ($0), some waffle irons ($200), net working capital ($500), some solar panels (i have no idea but let’s call it $1,000), etc…. equals massive ROIC on a business where each location is effectively a local monopoly (they charge like $6 for these things at stratton and there’s always a line) in an area (next to the ski lift) that is highly trafficked by hungry people with substantial disposable income.
I’d love to own 10 of these things, and ski all day.
fuck you, and fuck lax. baseball is and always will be America’s sport.
fuck you, and fuck lax. baseball is and always will be America’s sport.
fuck you, and fuck lax. baseball is and always will be America’s sport.
But after you calculate expenses for Obama-Care his FCF goes to negative infinity.
I am going to open a Denny’s across the street and wipe my ass with his menus.
If they’re the same ones you get a Stratton, you will need a pancreas full of insulin in order to avoid going into diabetic shock. In fact, a good food contest would be to see who can eat 2 of them without throwing up.
I hope he adjusts the recipe for high altitude.
It was a strikingly cute story until I read that he gave up cold-calling schmucks to stuff them with whatever carcass Wedbush had underwritten.
Dick, nobody cares. You sound like a bloody fool.
-Didn’t Ask So Don’t Give
“How do I get in contact with this kid?”
-Todd Combs
Dear DealBreaker
So horned up right now. I think it’s the waffles but I’m not sure.
Sincerely,
Curious in NYC
If this kid is still doing this 10 years from now– and has a chain of waffle stands at ski slopes nationwide– I’ll be impressed. Right now it seems like it’s about a half-step past selling lemonade from a stand at the end of your parent’s driveway.
suicide is painless.
what if he’s selling frozen bananas from a stand in Newport Beach?
Whatever, Warren Buffett. To invoke Churchill, only one link in the chain of destiny can be handled at a time: focus on the next earnings release.
I was about to invest, until I read the management bio section of their business plan, which includes the year each of them were born. In addition, some other charming facts were brought to my attention:
Garrett is currently ‘Security Manager’ for ‘the Little Nell’. Who is Nell?
Colin: ‘Living in Aspen has been a terrific experience so far, and he believes it can only improve with time’. Colin, buddy..
Brian isn’t a total screw-up, the fact that he’s so ‘excited for the opening of our Waffle Shrine’ leads me to believe he just wants go get high all day.
Have you gentlemen never read a business plan or a bio before? Golly
THAT will never work.
You’re mad at your dad, not at me. I forgive you. I bet that Head Start office can get pretty lonely when you’re waiting for him to come pick you up.
Garrett. what happened to being a DJ? haha- good luck
Especially when you think about all those early Native American baseball leagues.
Totes. Me and Garrett are way tight. When he gave me his old Yakima roof rack, I knew the dude was solid. Live strong.
Since Francis Flannel has a deficit in the arms department (one missing, and the other just a tad short of the average human), he was born for making circular waffles in a square waffle maker, in a shack, and on a mountain.
I wonder if mother approves though?
Uhh, rent?
THERE’S ALWAYS MONEY IN THE WAFFLE STAND ;O-)
“$200k net income in year 1 (even though i’m sure this excludes their salary)…”
then it’s not exactly NI, is it?
I mean–it’s a waffle stand, not a Bakken shale drilling program. You don’t even need to not get high all day.
You sell one waffle, pocket the cash, and then throw away another waffle to make up the difference–the owners will never catch on because you’ve thrown away that extra waffle.
THERE’S ALWAYS MONEY IN THE BANANA STAND!!
NO TOUCHING! NO TOUCHING!
-G. Bluth
I lived in Aspen once. It was all models and waffles.
There’s ALWAYS money in the banana stand!!!!!
He can’t get too stoned or he’ll shut his hand in the waffle iron (amusing as that would be though)
moffels and waffels?
You gonna have any chicken with those waffles brutha?
In Soviet Russia, waffle irons you!
-Guy who’s living the meme, brah.
Leeching off your Dad’s 7 figure retirement savings is the NKI.
Yes, but sometimes I’m more in the mood for puncakes.
making waffles is the……c’mon everybody….. say it with me…….NKI !!!!!
This is bush league psych-out stuff….laughable man!
- The Jesus
This is bush league psych-out stuff….laughable man!
- The Jesus
Aspen! California! Beautiful!!
And cigarettes are the OKI, that’s why Garrett only keeps reefer in his hacky sack.
Waffles, Aspen, it’s the golden age of Camelot again….
except for 20% unemployment and a broken govt, healthcare system, education system and road networks
The Sunshine State!
Another pussy that can’t hang
That’s funny. If only the creator of Obamacare had exempted businesses with under 50 people. Then that comment would be funny, but less so.
I don’t trust that left hand of his.
But I hear the French are assholes…
This guy has no idea what he’s talking about. First of all, you never had the option to invest, so don’t pretend to. All of the startup capital is the three owners’: no debt, no outside investors. You know nothing of these young men so if I were you, I would remove my head from my ass, and get a job that doesn’t allow you to comment on other people’s successes during business hours on a Wednesday.
Good luck to the Waffle Shrine!
“The Little Nell” is one of the finest properties in the world
“The Little Nell” is one of the finest properties in the world
“The Little Nell” is one of the finest properties in the world
Hey Everybody, Thanks for all the great feedback. We love it! feel free to contact us directly at WaffleShrineAspen@Gmail.com
Please keep in mind that we are young and just getting our feet wet. Also, I would wager that the majority of you made these posts while you were at work…..So to all the haters, you are at your desks surfing websites reading about us, making “witty” dissenting comments, while you should be looking at your spreadsheets. If you had a job you were passionate about, or could direct your own ambitions effectively, you would not have the time, or capacity to be distracted to this message board….Oh and I’ll be skiing waist deep powder in the town that most of you work you work your asses off all year to spend 1 week in; everyday.
Hey Everybody, Thanks for all the great feedback. We love it! feel free to contact us directly at WaffleShrineAspen@Gmail.com
Please keep in mind that we are young and just getting our feet wet. Also, I would wager that the majority of you made these posts while you were at work…..So to all the haters, you are at your desks surfing websites reading about us, making “witty” dissenting comments, while you should be looking at your spreadsheets. If you had a job you were passionate about, or could direct your own ambitions effectively, you would not have the time, or capacity to be distracted to this message board….Oh and I’ll be skiing waist deep powder in the town that most of you work you work your asses off all year to spend 1 week in; everyday.
Hey Everybody, Thanks for all the great feedback. We love it! feel free to contact us directly at WaffleShrineAspen@Gmail.com
Please keep in mind that we are young and just getting our feet wet. Also, I would wager that the majority of you made these posts while you were at work…..So to all the haters, you are at your desks surfing websites reading about us, making “witty” dissenting comments, while you should be looking at your spreadsheets. If you had a job you were passionate about, or could direct your own ambitions effectively, you would not have the time, or capacity to be distracted to this message board….Oh and I’ll be skiing waist deep powder in the town that most of you work you work your asses off all year to spend 1 week in; everyday.
sweetheart, do you have any idea who reads this site? the guy who your dad works with. steve cohen, ken griffing, jamie dimon, you get the idea. you’re getting constructive criticism you’d be wise to take note of, instead of responding obnoxiously like an immature child.
sweetheart, do you have any idea who reads this site? the guy who your dad works with/for. steve cohen, ken griffing, jamie dimon, you get the idea. you’re getting constructive criticism you’d be wise to take note of, instead of responding obnoxiously like an immature child.
ceSeRJ wow, awesome post. Really Great.
Thanks for sharing, this is a fantastic blog post.Thanks Again. Want more.