YOU SHOULD KNOW

YOU SHOULD KNOW

Bryan Frist

Yoshi co-founder seeks to ‘keep moving’ with contactless vehicle fueling and service company

BY WILLIAM WILLIAMS

B Bryan Frist is a man on the move. And regarding the “on the move” theme, so, too, is Yoshi, the contactless vehicle fueling and service company Frist co-founded in 2015 with Nick Alexander and

Dan Hunter.

Frist and his colleagues in January relocated

Yohsi — a Japanese word that roughly translates into “keep moving”— to Nashville from

California so as to build upon some serious momentum. Example? To date, the company has raised more than $36 million, with GM

Ventures and ExxonMobil having spearheaded

Series A and Series B fundraising rounds. Other investors include NBA All-Star Kevin Durant, former NFL player Joe Montana and Y Combinator in Silicon Valley.

“We are devoting recent investments towards continued innovation and expansion, in order to create even more convenience for our customers,” Frist says. “We are also hiring across all areas of the business.”

Frist has been well prepared to be an entrepreneur. Prior to co-founding Yoshi, he was involved in launching international hospital company Chinaco Healthcare Corp. in China.

“I was the first American on the ground and was focused primarily on project management and building out the leadership team,” he says.

“I learned how to take a vision and turn it into reality amidst lots of unknowns. I also learned how important it is to find good people and put them in positions of authority so that they can execute on the vision.”

As noted, Yoshi provides contactless services by delivering fuel and car care to its customers’ vehicles. Founded as a direct-to-consumer refueling business, the company has since expanded the service menu with light maintenance, car washes, detailing and oil changes. It also now offers its services to fleet and corporate customers as it continues to expand its business portfolio nationally.

Frist says a key reason for starting Yoshi was the realization that “no one enjoys going to the gas station.” When he, Alexander and Hunter founded the company six years ago, they wanted to create a customer experience and a distinctive brand.

“Having a unique name — one that sticks and that people remember — has been a big part of that,” he says.

As to the fee structure — the Yoshi app is compatible with iOS and Android devices — new customers get a 30-day free trial, paying only for fuel and services. If satisfied, they then can choose between a $20 per month or a $192 per year membership, which covers all

‘Having a unique name — one that sticks and that people remember — has been a big part of [being distinct].’

delivery fees and matches their gas prices to the lowest Top Tier prices found at nearby gas stations. There is a $7 delivery fee for customers who prefer a pay-as-you go option.

Frist says that when users download the Yoshi app, they will get the lowest priced Top Tier gas (Top Tier detergent gasoline and diesel fuel are performance specifications and trademarks designed and supported by several major automakers) within a two-mile radius of their respective fill-up locations.

“We search for the lowest prices so that you don’t have to,” he notes. “This means you get the best quality gasoline delivered to your vehicle at the lowest price. On top of that, when our customers use our additional services, they also earn gas discounts.”

Frist says “hundreds of thousands” of customers have already downloaded and registered their vehicles with Yoshi.

Even customers outside of a Yoshi service area can benefit from personalized vehicle updates — including vehicle recall alerts and mileage tracking. In addition to its consumer customer base, Yoshi provides dedicated service to fleet and corporate partners at large office parks and parking lots across the country. Pricing and custom service plans are tailored based on the sizes and needs of the organizations.

Not surprisingly, insurance, safety and environmental efficiency are major considerations. Frist says the company has comprehensive insurance in place that is tailored to meet and surpass all of its corporate clients’ requirements. In addition, each truck has been designed and built in-house by the Yoshi hardware team. The current version has been through multiple design generations with the primary focus on safety.

“These are not tank vehicles; they are customized passenger pickup trucks with proprietary skid designs in their beds,” he says.

Frist says running a start-up continues to be “a thrill.”

“Building out a great team and trusting them to execute is key to our success,” he says. “I’m really proud of the diverse team that we’ve put together. We’re diverse in terms of gender, ethnicity, experience, education and expertise. This diversity is one of our greatest strengths.”

NASHVILLE | CHATTANOOGA | KNOXVILLE | CHARLOTTE

PERSONAL ATTENTION

Data Bank

BY NEARLY EVERY METRIC — yes, that includes the number of construction cranes still dotting the skyline — the Nashville economy is bouncing back solidly from the shock of the COVID-19 pandemic. There’s still a lot of ground to make up, though, particularly in the labor market. But the real estate and development sector is playing its part in the recovery.

DRIVEN BY DEMAND

Investors pumped $901 million into Nashville-area industrial properties in 2020, up from less than $800 million in 2019. They have followed that up with $520 million worth of deals in the first half of 2021. That activity and the underlying demand have helped push up asking rents per square foot in a big way in recent years.

$3.70

2014

$5.39

2017

* As of June 30 Source: Avison Young Nashville

$6.55

2021*

STILL STRUGGLING

The hospitality sector took massive hits from COVID and is, not surprisingly, recovering more slowly than the overall economy. Tennessee hotels are forecast to employ 5,600 fewer people at the end of 2021 than in 2019. Here’s how that compares to neighboring states.

Alabama Arkansas Kentucky Mississippi North Carolina

Missouri

Tennessee

South Carolina

Georgia -3.3% -8.3% -8.4% -9.6% -12.1%

-12.8%

-13.3% -14.9%

-16.2%

Source: Oxford Economics for the American Hotel & Lodging Association

ROARING BACK

A 22-component commercial real estate index compiled by Newmark Research puts Nashville near the top when it comes to recovering from the pandemic. Middle Tennessee scores particularly well in the overall economic picture and retail metrics and as a destination for capital. Here’s the overall top 10, which is dominated by Sun Belt cities.

1. Tampa 2. Dallas

3. Nashville

4. Phoenix 5. Atlanta 6. St. Louis 7. Miami 8. Houston 9. Boston 10. Philadelphia

Source: Newmark

PRICING PRESSURE

That recovery is putting pressure on builders, particularly on the labor components of the equation. Nashville is among the most expensive markets for construction spending per worker.

1. Austin $160,551 2. Nashville $150,372 3. Raleigh $122,805 4. Phoenix $104,360 5. Charlotte $101,366 6. Jacksonville $96,043 7. Orlando $94,078 8. Dallas $90,848 9. Tucson $89.500 10. Tampa $88,532

Source: Construction Coverage