Austin Smith started his career helping build Savory Fund into a powerhouse that scaled concepts like Swig, Mo’Bettahs, and R&R Barbecue. After years of investing in food & beverage, he made the leap from investor to operator — taking a massive bet on Big Blue Swim School.

Considering buying a franchise? Reach out: https://www.frandawgs.com/ 

If you’re a multi-unit owner considering selling your locations, get in touch: https://www.fdcapitalgroup.com/ 

In this episode, we dive into:

• How Savory Fund spotted Swig and scaled dirty soda into a national brand
  
  
  
  


• Lessons learned from franchising hits and misses (like passing on Crumbl)
  
  
  
  


• Why Austin shifted from private equity to owning 21 Big Blue Swim School territories
  
  
  
  


• The economics of swim schools, territory buildout costs, and why drowning prevention drives demand
  
  
  
  


• His growth strategy to build $7–10M EBITDA and decide whether to flip or hold long-term

Whether you’re an operator, investor, or aspiring franchisee, Austin’s story offers a playbook on evaluating emerging brands and scaling brick-and-mortar businesses.

Chapters:

00:00 – Intro

01:10 – Getting started with Savory Fund and early food & beverage bets

05:00 – How Savory Fund discovered Swig and why dirty soda works

12:00 – Lessons from Crumbl and when to franchise vs. corporate-own

18:00 – Drive-through culture and why convenience brands win

26:00 – Austin’s move from investor to operator

32:00 – Discovering Big Blue Swim School

35:00 – Why swim schools are insulated from tech disruption

37:00 – Buying 21 territories across Utah, Arizona, Nevada, Colorado, and Idaho

49:00 – The cost of Big Blue buildouts and lessons on efficiency

53:00 – Psychology of space: why a “busy” feel matters

61:00 – Growth strategy: scaling to $7–10M EBITDA

64:00 – Long-term vision: flip or hold Big Blue Swim School

1:05:00 – Closing thoughts & where to follow Austin

Links:

👉 Connect with Austin Smith on LinkedIn: https://www.linkedin.com/in/austin-c-smith-a1755548/