Dubai: When Mark and Jackie Allen came to Dubai with the express intention of launching a business, they did so by placing all their eggs in one basket. Or should that be fish?
Their strategy was to start a fish supply business that would plug a substantial gap in the market. "We sold everything we owned in the UK, uprooted our family and came here," said Mark.
"We didn't have a back-up plan, there was a lot of risk involved and we knew we had to make it work. Because of that it gave us a lot more drive and passion."
By the looks of it, the couple have done themselves proud. They are now rounding off their sixth year in Dubai and the fifth since the launch of the company — Wet Fish. The business picked up almost immediately, and listed 25 clients among the top hotels in the first 18 months.
This ensured the company could make a healthy profit from the Dh20 million annual turnover. Having worked together in London, Jacky and Mark have set roles to ensure the business runs smoothly.
Divided duties
Mark is in charge of buying the fish, monitoring deliveries and schedules and auditing the money, while Jacky takes care of the customers. "Jacky had a real natural attitude," said Mark.
"There's an air of honesty about her which meant clients warmed to her and she ended up picking up good contracts. When we came to the UAE, she took on that role."
According to him, running a business as a partnership is all down to chemistry, more so when those involved are partners in their personal lives as well.
"There are some who hate each but build great businesses, and there are those get on well but ruin businesses," said Mark. "You have to complement each other in business or else it won't work.
"I tend to be a lot more motivated and a go-getter while Jacky is more relaxed and calmer. We balance each other out."
While their partnership has indeed worked out well, Mark emphasises the importance of leaving work at the office can be especially trying when it is such an integral part of the family. "Work can take over home life if you're not careful," he said. If you're under pressure at work, you're under pressure at home. It's important to place those boundaries."
With over 17 years in the industry working in an extremely competitive London market, Mark and Jacky knew they had what it took to break into the fish supply market here.
"Most of the chefs that work here have pedigrees from Europe, Asia and Australia," said Mark. "They want to produce good food, but were struggling with the ingredients.
‘Well equipped'
"While you always have the local fish as a back-up, most people really want to work with the more exotic, imported fish. Having supplied to some of the best chefs in London, I felt well-equipped to be able to handle the produce that most five-star hotels needed.
"That's what we based our sales pitch on."
When the pair first arrived, they found a fledgling industry that wasn't up to the standards of the five-star hotels in their own country. "In Britain, the industry started with all the suppliers and everyone had to have accreditation," he said.
"In the UAE, the hotels came before the suppliers, which gave room for suppliers without accreditation. Until now, most suppliers still haven't caught up with the accreditation.
"I like to think that we raised the bar. We started off with uniforms and hats. Now it's a prerequisite that delivery men have to wear uniform."
Obviously, it's the little things that matter. The relatively small company currently has a staff of 12, and the promoters have been content to grow organically. "We have a very elite clientele and what we try and do is have a one-to-one relationship with them," said Jacky.
"We're happy growing slowly. We still want the freedom to be a family and not be a slave to the business."
Mark and Jacky and always made sure their family came before their business. When they first arrived in Dubai, they made it a priority to make sure the family was settled.
"Without a secure family environment we couldn't start a business," said Mark. "We decided to dedicate the first few months in Dubai to making sure our family was properly set up."
They then focused on getting their target number of clientele, which at that time was 40. They have since surpassed that and are catering to 150 customers. More recently, Wet Fish has expanded their catchment area to Abu Dhabi, Al Ain and Fujairah, and achieved annual growth rates of 50 per cent each year until last year.
"From the end of May, June and July this year we've seen a bit of a downturn, but we expanded our services to Abu Dhabi which kind of compensated for the drop in Dubai," said Mark.
"Dubai is only as busy as the people who are here and more recently hardly any hotel is 100 per cent occupied. Our core business is imported fish which is more expensive. So if people cut down on spending, there is less clientele to eat it and people may stick more to the local fish."
While Mark realises that they can't run the business forever, he knows that it might not be the first career choice of his children. "I can't honestly see my two daughters getting involved in the business, and my son who's 18 still doesn't know what he wants to do with his future.
"If investors who could develop the infrastructure show an interest I'd be happy to sit down and listen," said Mark.
Top five tips
1. Be realistic with the amount of capital you need to live on. "Jacky and I didn't pay ourselves for 18 months when trying to get the business up," said Mark. "As a family business, you've got to know when to leave the business alone. Once you're truly established, draw the line between business and pleasure."
2. Don't be afraid to take holidays. You've got to get away from the shopkeeper mentality.
3. Constantly try to reinvent and improve yourself in order to push your business further. People tend to relax when they reach a certain level.
4. Have patience and self-belief. The first thing is you have to do is believe in yourself and in your own abilities. If you're going to start a business, try and be the best in your field.
5. Run as tight a ship as possible. Make sure you keep track of your accounts, expenditure, etc. You have to be completely on the ball in your own business — it'll only perform when you perform.
