Episode #542: Kevin Wathey-Merging Tech and Tranquility in Health-Focused Ventures

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I am super excited to announce that we now have a formal

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partnership with the prospect wizard. And when I say

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wizard, I mean wizard. Obviously, you have a website.

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This allows you to convert your website traffic visitors

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directly into leads. It's not just another chatbot, and it's

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not AI, but it allows a visitor to call, text, or leave a

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voice mail immediately goes to you, your sales team, or anyone else in the

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club instantly. MIT shows a study that if you contact

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a lead within ten minutes, chance of them converting goes up nine

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times that of the average. We got the Atlanta clubs on

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it, Vida Fitness, Gold's Gym, Mountainside,

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City Fitness Philly, College Park, become one

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of the next halo companies to deploy the wizard. It's

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easy to use. Go to the prospectwizard.com. Get

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a free thirty day trial. Talk to my boy, Dave Gallon. He will get you

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all set up and let the leads flow based on the

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wizard. Go get them.

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This is Pete Moore on Halo Talks NYC. I'm here with Kevin

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Waffey. We're gonna talk baseline to coastline,

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biotech versus the coastline of Costa Rica,

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both projects at the same time. Try and be an entrepreneur two

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x. Welcome to the show. Pete, I appreciate you

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having me. And I really appreciate you shaving and getting a nice little haircut for

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us as well. It's very, very, professional in your

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halo ways. So give us a little background on, how

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you became a crazy entrepreneur, what gave you the confidence and

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enthusiasm to, to start these projects, and,

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let's start with Costa Rica if we can. Yeah. Well, I'll give a little

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bit of backstory on myself that I think will help paint the picture of of

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how we got to where I am today. When, when I was

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16 years old, my mom set out to inspire my younger sister and

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I and decided to run the Tempe Town Lake Triathlon just

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outside ASU in in Tempe, Arizona. She she's

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46, trained for, completed, her

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first triathlon, and crossed the finish line complaining of low back

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pain, thought she hurt herself in the race, got an MRI, found

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out she had stage four pancreatic cancer, and was given three months to live.

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So Hello. Went from being the healthiest she had

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ever been to giving a a a death certificate,

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essentially. And she sat my younger sister and I down, said she was gonna outlive

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the prognosis by a year and spend one more Christmas with us.

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And she passed away 12/26/2010.

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And if that if if that showed

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me anything, it's that by example, she was able to she

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showed me by example that she was able to pick the date of her last

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breath. And if that's possible, then whatever we focus on is what we're able to

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accomplish as well. And as

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I've moved forward through my life, I've recognized that the only limitation is

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your own imagination. And so I've I've I've made sure that

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I only select projects that, are are

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a bit absurd, but only because we're only limited by what we place

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our own limits upon. Yeah. So I'm sorry to hear about that. At

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the same time, it sounds like she's been a inspiration to probably just more than

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you and your sister. It it to I've never heard someone,

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and I'm sure I'm biased, but I've never heard someone speak negative about her, which

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is a a a feat in in this day and

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age. Gotcha. So after after she passed, I went and played two years

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on the East Coast Hockey, semi professionally. Hockey led me to

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acting. I, my dad gave me the ultimatum. He says, you get a

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degree, or I never helped you with anything in life. Okay. He's very

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conservative New Yorker. And What time is this

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from again? Syosset. Okay. Yeah. I'm from,

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I'm from Westbury. I was a big roller hockey player back

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in the day. I didn't play ice hockey. That's what I started. A range of

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game last night, actually. Okay. I was with Kraken. And so

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Adam Fox, who grew up in Jericho, who's now playing

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defense for the, for the Rangers at five eleven and one

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eighty. So I would say whatever you set your mind to, you could do,

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regardless of your stature. I agree. And, so

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he gave me the ultimatum. I said I would get a I would get a

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degree, in theater of all things because

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I was acting at the time. Did my undergrad at ASU in three

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years. My second year, I got asked to go perform a show that my buddy

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had written in Bali. And I started taking yoga while I

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was there. And about three weeks into it, I came

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out of a yoga class, and the sky was a different shade of blue. The

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the trees were greener. I could smell differently. I made eye contact

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with my vocal production coach, and I saw my mom in her,

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and I broke. And it was five years after she had passed. It was the

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first time I ever allowed myself to grieve her passing. And

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I was really I was very well received in that community, and I came

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back to The States, and I said, where do I meet more people like that?

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So I I enrolled in a yoga teacher

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training really to learn more about myself. That was

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the only only piece, as well. And then I I graduated

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there and my bachelor's at the same time and took a summer internship

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at at Hyatt Hotels. I, was a pool boy,

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and, it was a great summer. Okay. Where were we

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stationed? This was in Scottsdale. So I was at the Hyatt Hyatt

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Regency Canyon Ranch. And I was there for for a

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summer. I crushed it. They invited me to come on full time.

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Two years into that, they invited me on the brand development team, and I helped

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open properties. So everything from the ground up. Nice. So the

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last property I opened, I was '24, was Andaz

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Scottsdale, in Scottsdale, Arizona, miles a couple miles

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away from from Gainey Ranch. And

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I don't know what led me to to ask, but

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I was getting really involved in in yoga and meditation and and

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wellness. And I said that, I'll build the food and beverage program

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for you, but I also wanna build a yoga and fitness amenity and run it

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as my own studio. So at 24, I, ended up

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building a yoga and fitness facility at a five

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star resort in Scottsdale, Arizona. I ran that as my own

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studio for over a year, and at the end of the year, director of

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ops came to me, said, hey. We see how much money you're making. We want

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50%. And I was like, not how this

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normally not how this normally works. So I put together a

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proposal of how we could branch wellness to Hyatt Worldwide, with an

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external guest program and internal employee program, presented it to

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the CEO, CFO, VP of the Americas. And in 2016, they said it would never

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be big enough to warrant a corporate partnership. Put in my two

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weeks and started a consultancy. Gotcha. Funny thing

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funny thing is that nine months later, they partnered with Headspace and brought part of

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what I was trying to do in internal. Yeah. Between Headspace, they

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also used to own Exhale Spa for a period of time. Mhmm. And it never

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seemed to, like, pull all the pieces together that they had under

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their their influence, to, to to

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really pull it off the way I I I was hoping the

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hospitality industry would. So as of now,

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you've proven that you've got the requisite skill set to, to to

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to launch what you're launching now. So talk to us about the

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benefit of building a ground up

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resort versus maybe going and buying one or partnering with one. What was the

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rationale there? So the the acquisition of Costa Rica

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was a preexisting boutique hotel. So it was 24 rooms, two restaurants,

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and a spa, five acres of beachfront, on the Pacific Coast

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in the in the Nicoya Blue Zone. And the intention

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was never to keep it as is, but to expand it. And right before

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we closed on it, the previous owner came to me and said, hey. We have

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two extra plots of land adjacent. Would you like those as well? They're already

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prepermitted for condos and residences. So it went from

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a a smaller boutique resort acquisition

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to over 17 and a half acres of beachfront and beachfront

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adjacent property. And when all is said and done, that'll be 52

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rooms, 32 residences, and 54 condos. Gotcha.

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And do you feel as if you're,

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who's the clientele to to to bring to that resort? Are you

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selling any kind of, like, co ops where, like, you buy a unit and

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then and then it gets rented out? Yeah. So

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we're in talks with a a company right now to

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prepurchase the majority of the condos and residences. Yeah. The

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resort will stay within our own Opco and be focused

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on entrepreneurs, c suite, high performing

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individuals that really want the complete picture of their health because the

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way the resort is structured is that you will actually do pre pre stay

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testing. So you'll do a full exome sequence. You'll do a blood, microbiome, and

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metabolic panel, and all of your treatments, activities,

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excursions, everything on property is customized to your unique biology.

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This is Pete Moore. I wanna let you in on a little secret. There's this

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company called Promotion Vault, and what they do is they give out rewards

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from retailers that allow you to incentivize your

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members without having to do zero down and one month

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free or giving away shakes or giving away t shirts. What

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you wanna do is build a rewards program that lasts, that

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people value, and that doesn't discount your own products and services.

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So here's the deal. There's something called rewards vault. The rewards

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vault is going to allow a member to set up their own profile.

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They are going to answer questions. You are gonna get those answers. You're gonna be

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able to target those members, and you're gonna reward them inside your

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club, inside your spa, and outside of the club, and

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outside of the spa to get them to become loyal, to get them

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to pay their monthly dues, and to be rewarded

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properly for the actions. A lot of companies are cutting back on rewards.

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You shouldn't be. Promotion Vault's your answer. Trust me. This is

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real.

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And then from from a standpoint of where you're gonna be living, are you gonna

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be living as a resort upon opening for several

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years, or what's your plan? I'll be down there to help with the

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opening, but my intention is once we break ground, we go to Italy and

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start looking for location number two, and South Africa being number

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three. And why those choices of locations?

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Costa Rica, initially, because it was my favorite is my favorite place on the

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planet. I have two tattoos. One is I Hope You Dance in my mom's handwriting,

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and the second, which was her favorite song, and the second is Pura Vida.

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Because the first time I went down there, it it had a

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lasting impact on me. It's about a way of life and

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they take a very similar approach to living in how

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I think of healthcare, how I think of life, how I think of well-being, and

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that's a game of subtraction, not addition. It's not what can we inject or

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ingest in order to in order to become healthy.

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It's what can we remove in order to get back to a place of

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vitality, which is where our our bodies are uniquely created

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to begin. This is a destination or this is like a

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Costa Rican, like, mindset? It's a Costa Rican

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mindset, particularly in the blue

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zone, which is the Nicoya Peninsula, 5 blue zones in the world where the

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life expectancy is the longest. So that was the reason for Costa

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Rica. I'm Italian so that's the reason for number two

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I'm getting my citizenship right now and I went on a I

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consulted for a safari retreat company years

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ago and had an incredible experience, happy to

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dive into it more, on Africa and of

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South Africa particularly, and I think there's more

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people who need to experience that. Gotcha. And then from

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the unit economics on something like this, you know, it's

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it's not necessarily akin to, hey, I'm going

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on a one week or a two week vacation. You know, you're really kind of,

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you know, coupling that with, hey, him going to like the Mayo Clinic for a

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period of time and what would be some other what would be the best analogy

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to say I'm going to what two or three things. It's like

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a positive mash up, if you will, for lack of a better musical

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tongue. The closest comparable to someone that's doing something similar is a

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place in Switzerland called Clinique La Perie. They do a

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a five day detox retreat for $55.

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And we're positioned slightly

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differently in that we don't starve you for $55,

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but, it's it's a similar,

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25 to 30,000 a week. Wow.

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Okay. So that that's pretty high margin, but at the same time,

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you also got the staff and the the the

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actual technology there to to serve that. Correct.

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To want that amount. Correct. There's a a suite of medical benefits as

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well as practitioners on-site. A lot of that ties

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into Baseline, which is the health tech platform we're building right now too.

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Gotcha. Alright. So pivot pivot to Baseline, and this is Baseline is

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going to effectively be the the CRM

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that powers the location in in Costa Rica and then becomes, like,

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your internal software, you know, ERP.

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And then you're also gonna have other people allowed to use it, or is it

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gonna be captive? No. It's so it's gonna be a standalone entity.

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Other people can use it as well, and it's not specifically only for

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resorts. So the way that we got to to building was

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that the the the problem I wanted to solve was how do we

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quantify a resort stay? Normally, you go somewhere you feel great, you go

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back home, and you do the same behavior that that led to you needing

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to to go on vacation in the first place. So I said if we do

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pre pre stay testing, that then would allow us to create a

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baseline that allows you to not only see what happens at a moment

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in time, but track trend lines over your lifetime. And

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so Baseline, it's a platform built by your biology for your biology,

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and it's meant to score how well you live your life, focused specifically on

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behavioral and lifestyle intervention. And if we look at I know we were in

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Vegas at the same time, if you look at healthcare today,

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95% of spendings on chronic disease, nineteen sixty, that was

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zero. 19 60, the first ever prescription,

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for a chronic condition was released, which was oral contraceptive,

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and it's straight up and to the right since then. Today,

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McKinsey came out with a study that eighty percent of chronic conditions can be treated

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completely treated with lifestyle and behavior change. But That's

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where we're at. Yeah. No one gonna the pharma doesn't

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benefit from, from that, though. Yeah. Yeah. Sure. Yeah. And they spend a

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lot of money coming up with crazy needs for a lot of,

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pills that have significant amount of side effects. Yeah. Well, they're lobbying

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right now lobbying right now to have have, Ozempic

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be adopted by children as young as six. What six year old needs a

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weight loss management injection that, maybe we should look

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at what we're putting in the body, not injecting into it?

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Well, one that has, like, you know, 500 calories per serving in

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their, in their, their their kitchen,

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closet would be the ones that would need the six year old Ozempic

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pills right next to it. Or you can walk in and out of, like, the

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snack area and get, like, a shot of Ozempic, like, in a like, a

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Amazon, you know, shopping cart or something. You know, you put your

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credit card in. Yeah. You go buy stuff and charge you directly. You give,

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like, spray them with, like, Ozempic on the way out. Hey. If we weren't

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trying to make the world healthier, I think you might have a business model there

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too. Yeah. I mean, there's been crazier business models. I I probably gotta

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develop it a little more. I just came up with that. You know? I think

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one of those, Arizona, you know, like, sprays that they have

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outdoors, you know, where you can sit outside. Yeah. I missed this.

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Something. You can just be spraying Ozempic on the fat kids. See what

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happens. Alright. Probably not the best idea. I'm sorry about

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using the word fat. I mean, overweight or lack of

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behavioral eating disorders. Put it that way. Yeah.

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So so as you kind of, like, flow through as an entrepreneur

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at your age, and say, hey. I'm gonna try and accomplish

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these things. You know that running two companies at the same time is

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not, you know, a a a a the the, you know,

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desired path. Obviously, you wanna try and do one at a time. So what

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what what's the rationale? Do you think you're gonna miss something if you do

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one or the other, or they need each other in order to coexist?

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I think they're complimentary. They're under the same umbrella. They hold the same amount

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of space in my head. And, I don't see them

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as competitive, and I see them as actually helping each other get

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across the line. Gotcha. And then then as you look at two

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companies like this, you know, for for our entrepreneurs out there that are

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thinking about business models, if you if you

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own the Costa Rica, let's put put Italy and South Africa on

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the side. I own Costa Rica. I own a software company that is going to

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power, this Costa Rican entity. How do you think about transfer

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pricing? How do you think about raising money? For

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obviously, there are two separate investors in my mind that would wanna

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invest in a, you know, med spa hotel destination,

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best of class, first of its kind. And, yeah, I'm running a software

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company. So the first question I would ask is if I'm

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investing in both of these, what what are you gonna charge the software company?

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Because I might not be on both sides of this this investment.

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Yeah. The the Costa Rican the the the commercial real

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estate piece is a very kind of PE, maybe family office

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conversation. On this on the SaaS side, the health tech side, that's

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definitely a venture conversation or an angel conversation.

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There's some families that may have appetite for both, and and we've talked to quite

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a few. We're almost fully subscribed for Costa Rica, and

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then I that will be great because then I won't be raising for two projects

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at the same time, which will which will help me mentally. Yeah.

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Yeah. But, the way that it's gonna work is there will be a

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services agreement with Baseline going to Azul, the property in Costa

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Rica. So so how does somebody like you how do you

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define success? I mean, you could define it on a daily

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basis. It sounds like you've had some life events

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that you've had, you know, real, you know, takeaways from,

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and it's changed the way you've thought. That's success in and of itself,

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right, to to have self awareness and, you know, understand your own mission

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and your pursuit and, you know, validation and conviction

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over what you're doing. Yeah. At the same time, you know, you got a

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software company that's gotta get to breakeven. You got a

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location that's gonna be catering to you know, not everyone's got

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25 k to throw at, you know, at themselves, you know, to

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to actually help themselves. So so how do you define success, and how

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do you know how long it's gonna take to get there and be

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comfortable with that? Did you know this is gonna be breakeven on day one on

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both Yeah. My personal definition of success is is

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always striving without sacrificing the present, and I think that that is

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something that is often overlooked in society is that it's a

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monetary place or it's a place to get to, and I've realized

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that life is lost my mom at 17, best friend at

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19. And if I've learned anything from that, it's

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that life is too short to

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be happy when, to be successful when or

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if. And I've redefined a

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lot of those things in my life. But in terms of, like, a monetary

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standpoint, the we're already pre selling the residences and the

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condos on property. That's going to

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basically return the investor, the equity

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raise back 136% once we have a grand opening in

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January 27, and then there's a fiftyfifty split on the upside for

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anyone on, the on the on common

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within Azul. For the baseline

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platform, I see that as the next ten to fifteen years of my

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life, ideally only raising for it

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once and making the economics make sense to where it is

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a very profitable company without having to need to raise again.

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The thing I will say too is that, yes, a 25

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ks price point is not accessible to everyone and I completely understand that.

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The way to think of it is we have a freemium, premium, and executive tier

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within Baseline. Freemium's free. Premium

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is going to be a monthly or annual charge. The executive

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tier is the 25 ks or 30 ks a year, where you get the white

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glove experience, where you get the, the

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the concierge, where you get the five star, seven day

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stay. The other two are accessible. You can get

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your exome sequence and your labs done every single year for under I mean,

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you only have to do exome once, but you have to you can get your

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labs done every single year for almost under a thousand dollars.

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This is Pete Moore. Here's the last tip for you of the podcast.

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We are partnered up with a company called Higher Dose, higher dose

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dot com. They are the leader in workout

348
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349
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350
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products such as PMF mats and sauna blankets.

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00:21:37,710 --> 00:21:41,230
If you have not gotten on the workout recovery train

352
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yet, your time and your stop is now. You gotta

353
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get these products in there before these workout recovery and spas end

354
00:21:48,750 --> 00:21:52,525
up saturating your market. Having your members walk out of the club and

355
00:21:52,525 --> 00:21:55,965
going into one of their locations for $200 per

356
00:21:55,965 --> 00:21:59,485
month where they're paying 39 to you. Let's become an

357
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expert in workout recovery if we are already an authority in

358
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workouts. Higher dose, check it out. There's a

359
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wholesale code, and we look forward to helping

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00:22:10,470 --> 00:22:14,309
you augment your products and services to meet the demands of your

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00:22:14,309 --> 00:22:17,935
members. And, hey, let's get people happy, healthy,

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00:22:17,935 --> 00:22:21,295
and sweating, and the recovery should be just as good as the

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00:22:21,295 --> 00:22:21,795
workout.

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Alright. In closing here, we'll have all your info up on the, up on the

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show notes here about the location and and both of the cap raises. But you

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got a quote that you, that you live by. I'm sure you have

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many. But but, Nancy, now you got a takeaway that we can put in our

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quote library here at the Halo headquarters. I've got

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I've got many, but one that I really enjoy that's been been on my mind

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presently is a system theorist, r Buckminster Fuller.

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And he says that you can never change things by fighting the existing reality.

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To change something, you need to build a new model that makes the old one

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obsolete. Nice. Alright. You've

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heard it here first. Kevin, we are going baseline to coastline. Welcome to

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Halo Talks. Let us know how we can be helpful. A lot of health clubs

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and and med spas are our clients and long term relationships, so we should

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probably start to plan once Costa Rica is up and running for

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people to sign up through their affiliates to

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come down there and basically have that as like a club promoted, you

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know, destination week, you know, as a team or as a,

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as a small community. So congrats on what you're doing. We love the

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ambition, and, we wanna be helpful. So glad we got connected.

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Appreciate you. Thank you for having me. Alright, man. Great work. Love it.