$1.6M/Year Business No One Talks About!!

James Frey always wanted the freedom of being his own boss, and oyster farming under his business, Crystal Coast Oyster, is one way for him to do just that. All it took was $7500 for oyster cages, seed, and working out of his own kayak instead of a boat. And after only a couple of years, James is projected to have up to $4M in sales.

James wasn’t always in the oyster business. He worked in landscaping, dock construction, and moved refrigerators prior to it all. The really crazy part though? He also has no formal education in oyster farming. Instead, it was his passion that helped him to learn and channel his energy positively for the business.

In this episode, James shares that his success comes from highly competitive pricing, door-knocking with local restaurants, utilizing social media, and participating in local events to build long-standing partnerships. He’s also always built his boats and equipment and fixed it all himself, which helped him to create a cost-effective foundation.

That’s not to say there weren't a few accidental challenges along the way. It can take up to a year before any oysters are the right size for market and can be sold. James also picked the business name Big Rock Oysters before he realized it was used by another company.

Even if difficult times were to come up in the business or small bumps along the way, James explains that he lives with the mindset of always having fun and to never quit.

Resources:

Timestamps:
00:00 - Start
00:51 - Where it all started
01:34 - Why oyster farming?
02:03 - Oysters sold
02:31 - Oyster bank
02:56 - Sharing knowledge & secrets
03:48 - Oysters' role in ecology
04:25 - Leasing
06:17 - Harvesting a cage
06:46 - First sale
07:32 - Harvesting frequency
08:35 - Starting out
09:13 - Going full time
11:22 - Fan blitz
12:21 - Floating vs. bottom cages
13:11 - Costly mistakes
13:35 - Oyster tumbler
15:00 - A neat trick
16:28 - Revenue
17:59 - Moments of doubt
19:22 - Spotting the perfect lease
20:08 - Machinery needed
21:46 - Oyster washer setup
23:00 - Monthly overhead
23:31 - Starting without machines
24:04 - Oyster species
25:00 - Delivery logistics
25:53 - Opening oysters (the proper way!)
26:53 - Three lucky things
28:07 - The secret sauce
29:18 - Biggest challenges
29:58 - Employees
30:55 - Marketing
33:04 - Instagram strategy
33:53 - Nature’s philosophy
34:23 - The best advisor
35:12 - “Collaborators”
36:16 - Motivating the team
37:02 - Getting started
37:49 - The “real” fear
38:22 - A useful advice
38:55 - Outro

#oysters #oyster #oysterfarming

[michaelcheli]

California had a longtime family run oyster farm on Drakes Bay in Marin County, that purified the water and left the bay cleaner on a daily bases; but some ignorant activists who claimed to care about the environment;, but had no understanding of the benefits oyster farming had on the bay, started whining in opposition to this environmentally friendly oyster farming operation, until they finally got their way and had the longtime business shutdown and removed from the bay, resulting in no benefit to the environment, or to the community. Ignorance and activism are a dangerous combination!

[SeanOHanlon]

Two things:
1. 50% profit margin in any business is fantastic.
2. He's selling to customers down in Savannah which should tell you about the growth potential for oyster farming.

BTW: Crushed oyster shells can be used in bricks, mortars, concrete mixes, and road construction to increase strength and durability.

[ColinLennard]

His reason for success is that he is not greedy & wants to share. He is a giver & not just a taker.
The reason for failure, call it all sorts of thing but it is effort.
Just remember that "Today's targets become tomorrow's minimums".

[brianvinciguerra]

Oysters were instrumental in cleaning up the New River and Wilson Bay area of Onslow County, NC after a 15 million gallon hog waste spill in 1995. This environmental disaster nearly killed the New River but the humble oyster stepped in and accelerated the recovery.

[johnlozauskas]

This young man has the right and sustainable attitude. He's not only made a community, but he has spread the wealth around and that is great.

[avayu]

This guy gives me hope for humanity. Food for thought in every sense! Thank you! What great business ethics! 👍

[KrugerrandFarms]

My uncles had the same kind of buisiness on Long island's Great south bay. They fished for hard shell clams and eventually they cultured seed and planted them in the bay. This was a really good business ontill the 80s when they retired . The market was restaurants in NYC. I grew up with this and I didn't realize that every one didn't eat clams. This really brings bac memories.

[goralkhatta]

This is one of the best videos I have seen from UpFlip. Please take this down before the private equity guys from New York RUIN the Oyster farming business LOL. 50% margins is incredibly attractive. This guy could walk into any PE firm and get funding for scalability asap.

[jamestackett]

We need more people like this guy! Genuine guy, Treats people fairly, pays his people fairly. Trying to share the information for others to get into the industry. Amazing.

I don't eat oysters but if I did I would order from them hands down.

[trueseeker]

James. You sir speak with passion, your technical knowledge and expression of knowledge through learning, is astounding. You love what you do is the drive to success, thank you!

[Redleef]

Love how he's so open about his business, and learned alot from this. Hard work and grit, full respect and wish him all the success in the future.

[willberten]

Aquaculture farming has been a long time dream of mine, but it has always seemed so unattainable. This is so inspiring.

[augeniasestokaite]

Thanks for being you and not giving up!!

[sprendergast]

Interesting, I was surprised that they have only just got into farming Oysters.
I was helping a friend in New Zealand farming Oysters 50 years ago 😮

[andrewwatkins]

Very good video. I listened from start to finish. I like his enthusiasm and willingness to share his secrets.

[elementa.laudis]

Oyster shells are also used for the production of mother of pearl. Very beautiful material I sometimes use for my marquetry paintings.

[TheAeroInsider]

Absolutely phenomenal mic capture. It was windy as heck, and I didn't hear anything but dialogue!

[cameronpollock]

never understood people who say "fear of failure" but "fear of success" is the unknown and life-changing for you and others around you.

[philcavallini]

U spent 400k in oysters and learned a valuable lesson that will help u save millions more because of that issue. Smart man keep going brother!

[brysonmcha]

If James is reading this, why not get the 2s and the grow them to 6s and make 15k for every 100k you grow? 1500$ of profit everyday before scaling. far less labor and over head.