The notion of running his own company entered the mind of Albert “Allie” Waguespack III some three years ago while looking for ways to make pumps run more efficiently for a refinery outside of New Orleans.
It’s not that there was anything wrong with his job. The work was interesting, paid a good salary and Waguespack enjoyed working with fellow LSU engineer graduate Sina Zarei, Business Report details in a new feature in the current issue. But after a decade of working in industry, Waguespack got the itch to become his own boss.
Opportunity came knocking when, after nearly disappearing from the market, propane resurfaced as a clean energy source. Waguespack recognized the market that potential new technologies presented and, in 2014, seized the opportunity to revive a long-dormant family business, Vacherie Fuel.
“Not knowing anything about propane, I thought Allie was crazy when he told me he was leaving,” Zarei says. “We kept in touch and, a few years later, I came to the same point: Did I really want to work for someone else my whole career?” In mid-2015, Zarei joined Vacherie Fuel, a propane supply and bottle exchange company.
In less than three years, Waguespack, who serves as president, and Zarei, who is executive vice president, have transformed the company. They have gone from 15 propane exchange locations to 130, and have doubled the company’s revenue every year. Luck, however, had little to do with it.
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