3/10/2023 0 Comments Aqua quip bellevueHe even admits that a person can go online and order a spa today. Still looking for additional revenue sources, the company added electrical services, such as wiring hot tubs and plumbing gas fireplaces, as a logical direction.īut in a time where retail outlets are fast being replaced by online companies like Amazon and other marketers on the Internet, how does Aqua Quip survive, and more importantly, flourish? Brian says that’s their biggest challenge today….finding ways to differentiate themselves from what a customer, or prospective customer, can find on line. Turned out to be a good move, as these quickly became 25% of the company’s revenue. They soon identified BBQ’s and hearth products would be a good fit. Brian searched for other “like products” that home owners wanted. To reinvent themselves, it was important for Aqua Quip to look beyond their core business of spas and swimming pools. More importantly, he knew he had more work to do with the store’s culture. Brian went on to explain businesses like Aqua Quip normally generate single digit profit margins. When the employees were asked to separate the pennies, with one side being their costs and the other side the profits, he was alarmed to see that the workers were under the impression the company was running at a profit rate of 30% – 40%, a surprising rate of return for a retailer. In one case, he used 100 pennies to illustrate their cost of doing business and profitability. Other competitors didn’t adjust and suffered the consequences.īrian used this time as an opportunity to educate their employees. Brian realized they needed to reinvent themselves in order to survive. But then the recession of 2008 hit, dropping sales 15% that year, and an additional 10% the following year. At that time the spa business was growing up the coast, from California to Washington.Īqua Quip’s business was growing and doing well, expanding to 11 locations in the early 2000’s. In 1979, they bought a pool and spa business, taking the family in a new direction. He learned about hard work and how to run a business from watching his parents operate their lumber business for several years. More importantly….he’s a WSU Coug, which may help explain his success in life. Most of us think of this company as a source for hot tubs, but learned it’s so much more.īrian was comfortable joining us at Glendale CC since he grew up a few blocks away and attended Sammamish H.S. We were treated to an informative presentation by Brian Quint this morning, as he shared the birth and evolution of Aqua Quip.
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