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2015 Success Awardee (Bergen Community College): Lobster Life Systems, Inc.

 

DECAL - NJSBDC Success Awardees - 2015 illustration [BERGEN]

 

Lobster Life Systems, Inc (LLS) is a state-of-the-art design, production, and maintenance provider of marine salt, filters, activated carbon, lobster tanks, fish tanks, shellfish tanks and other marine life systems.  LLS provide many major supermarket chains, restaurants, supermarkets, gourmet shops, wholesalers and marine exhibitors throughout North America with equipment and supplies necessary to operating a healthy aquatic system. The company prides itself on doing things that other manufacturers don’t! For example, all of their tanks feature blackout protection, easy cleaning, self-contained purging, and other features designed to cut costs and increase efficiency.

 

Founded in 1989, LLS is currently owned by Kristine LaGuardia and Thomas Olsen.  In mid-2014, Tom and Kristine, then employees of LLS, purchased the company from their retiring owner Richard Tokosh, a client of the NJSBDC at Bergen Community College. After assisting Richard in the sale of the company, Tom and Kristine asked for continued guidance from the NJSBDC in key business planning areas: Sales and expense budgeting; profit and loss statements (analysis and review); marketing brand building; and development of sales in key profitable areas of the business.

 

After several meetings and guidance form the Center’s director and consultants, prudent use of a working capital loan and lots of hard work, LLS has gained a 1% nationwide share and a 25% sales increase with improved and sustained profitability since the beginning of this year. It has also hired additional personnel for a total headcount of twelve employees. This success can be attributed to following the business plan that emphasized growing the profitable services and distribution side of the business while improving the core tanks sales. This business was highlighted on New Jersey TV in October.

 

Tom Olsen notes: “LLS, Inc. has been actively working with the Bergen Small Business Development Center for several years and has greatly benefited from the relationship with our advisors Vince Vicari and Jim Palumbo. Coupled with the resources available from NJSBDC, Jim has educated and guided us through the many obstacles a small business navigates. We are happy to have utilized the services of NJSBDC, and will continue to look to Vince Vicari and his team to help us soar to new heights!”

 

 

 

Lobster Life Systems, Inc.
10 Dell Glen Ave # 5A
Lodi, New Jersey 07644

www.lobsterlife.com

 

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IMAGE CREDIT: Anthony Alvarez Photography, LLC