Young Entrepreneur of the Year

Serge Gaudet
Aquador Oysters

Serge Gaudet is 35 years old, and is a prime example of determination and perseverance in the business world.  He started by gaining valuable work experience in aquaculture at Aquaculture acadienne Ltée from 1990 to 1995.  Serge then tried his luck at starting a business, but since the aquaculture sector was under-developed and relatively unknown, he decided to abandon the idea because securing financing was too difficult.

He decided to pursue his studies at the Université de Moncton for a year and then completed the technical administration program at the New Brunswick Community College.  Serge Gaudet continued to work in the oyster industry on weekends from 1995 to 1999.  He worked full-time during the week, primarily as an advertising representative for a weekly newspaper and a car salesman for Toyota in Moncton.

In 1999, Maurice Daigle, owner of Aquaculture acadienne, tried to lure Serge back to the world of oysters on a more serious basis as there was a shortage of producers. “I had a good job and didn’t want to work for peanuts as I’d encountered many obstacles in oyster production in the past”, comments Serge Gaudet.

At that point, Mr. Daigle provided Serge with 100,000 oysters and some equipment, so he decided to try again.  As well, a new method consisting of floating bags would allow him to sell his oysters after four years, rather than six years.  “Once I saw the results with this new system in the fall of 1999, I was convinced!” stated Serge. He tried this new method for a season and then purchased the borrowed equipment.

Serge was still very passionate about aquaculture and starting a business. He redrafted his business plan that was approved by a financial institution in 2000 and thus created the company Aquador Oysters.  “I like a challenge and wanted to be self-employed.  As a youngster, I tried many things.  I organized car washes at home, delivered newspapers and cut lawns.  I always liked responsibility”, confirms Serge.

Serge truly believed there was a huge potential in the oyster industry and followed his instincts. To him, it was like finding an unexploited gold mine. He admits that this was an enormous, but not insurmountable challenge, because his first cultivated oyster sales would only be in four years.

In order to make ends meet, Mr. Gaudet worked the night shift for two years at the paper mill, while operating his business during the day.  He then was re-hired by Aquaculture acadienne in 2002 and thanks to CBDC’s young entrepreneur program, his business got off the ground and was in full swing by 2003.

During the first years, he sold mature oysters collected with his scuba diving gear.  The sale of these oysters allowed him to hire an additional employee. As a firm believer in his company, Serge Gaudet reinvests all his net profits back into his company.  He lives on bare essentials.  “I have to sacrifice a lot, but it will pay off in a couple of years”, he stated.

Mr. Gaudet presently has two seasonal employees but foresees hiring two more in the next few years.  His sales this year could vary between $80,000 and $100,000.  He projects selling 400,000 oysters.  However, his long-term objective is to sell over one million oysters annually, estimated at $300,000.  “In the beginning, no one believed me.  Everyone told me that this would never work out.  It was a challenge to prove them wrong, but I would have worked 100 hours per week just to do it”, indicated Serge.

Serge firmly believes that to become successful in the business world, entrepreneurs must be determined and in control, always have a positive attitude, be adaptable and be able to delegate.

One of Mr. Gaudet’s greatest business challenges is trying to explain to the public that aquaculture is a green industry. He spends a lot of time and energy in the industry’s defense. He knows that the environmental impact of oyster cultivation is very minimal and cannot stress that point enough.

There are many benefits to his business such as having the luxury of working on his oysters in his hometown which also develops the local economy.  If ever his children want to take over the business, they too will be able to remain in Aldouane.  He is also very proud to be creating valuable employment in his community.

Mr. Gaudet always finds time to take part in other activities even with his tight schedule.  He is vice-president of the Professional Shellfish Growers Association of New Brunswick. This dynamic association represents a growing industry with plenty of opportunities. He is also involved with the local ATV club, another industry which has great economic and tourism potential according to Serge.

From Mr. Gaudet’s point of view, the key to success at Aquador Oysters is being surrounded by a great team of employees that alleviates the owner’s workload.  This also gives him the opportunity to concentrate on the expansion and growth of his company.

Congratulations Serge Gaudet, Young Entrepreneur of the Year!