Anthony Puharich is a fifth-generation butcher who grew up in a Croatian immigrant family where butchery was deeply rooted. His father, Victor, a dedicated and passionate butcher, was Anthony’s mentor, guiding him in the craft while hoping his son would pursue a different career path. Despite obtaining a degree in finance and starting a career in investment banking, Anthony felt drawn to the family tradition. In 1996, he and his father founded Vic’s Meats in Oxford Street, Darlinghurst, Sydney.

The early days of Vic’s Meats were challenging. The retail butcher shop in Oxford Street struggled to attract customers because the area was primarily populated by young professionals dining out rather than families cooking at home. The business faced financial difficulties, and Anthony, with his father’s life savings invested, felt the pressure to succeed. The lack of foot traffic led him to question whether they had made a mistake, forcing the team to find a different approach to survive.

Further challenges arose during the COVID-19 pandemic. With Vic’s Meats depending heavily on wholesale business supplying top restaurants, airlines, and hotels, the business saw its $120 million annual revenue fall sharply as these establishments closed. With millions of dollars worth of stock at risk and the future uncertain, Anthony and his team needed a new strategy to sustain the business.

Facing the initial struggle, Anthony pivoted the business from retail to wholesale. He began knocking on the doors of local restaurants, pitching Vic’s Meats as a supplier. This pivot proved to be the turning point, leading to partnerships with renowned chefs and high-end establishments like Level 41 Restaurant. Vic’s Meats built a reputation for supplying premium quality meat, cementing its status as a preferred supplier for top Australian restaurants.

When COVID-19 hit, Anthony again showed resilience by quickly launching an online home delivery service, Vic’s Meat Direct, which allowed the business to deliver quality meat directly to consumers. The initiative turned a survival strategy into a new and successful revenue stream, generating $55 million in sales over four years.

Today, Vic’s Meats continues to grow, with expansions into retail outlets and plans to open new stores across Australia. The company’s core values of quality, sustainability, and respect for tradition remain central to its operations.

Insights for Business Owners

1. Embrace Tradition, but Don’t Be Afraid to Pivot:
   • Anthony’s story highlights the value of staying true to one’s roots while being adaptable. He pivoted from retail to wholesale and later embraced e-commerce. Business owners should be ready to adjust strategies based on market needs.
2. Leverage Adversity to Innovate:
   • COVID-19 forced Vic’s Meats to rethink its business model, leading to the successful launch of an online home delivery service. Use difficult times as opportunities to explore new revenue streams.
3. Invest in Relationships:
   • Building connections with local businesses helped Anthony establish a wholesale network. Nurturing client relationships can create credibility and open doors to further growth.
4. Stay Committed to Quality:
   • The philosophy of using every part of the animal not only reflects respect for the craft but also minimizes waste. Incorporating sustainability practices can improve business ethics and appeal to conscious consumers.
5. Balance Growth Ambitions with Core Strengths:
   • Anthony learned the importance of focusing on what Vic’s Meats does best: supplying premium-quality meat. While growth is essential, sticking to core competencies ensures a strong foundation.
6. Resilience is a Key Ingredient for Success:
   • From surviving the early struggles to navigating a pandemic, Anthony’s resilience was crucial. Persistence in the face of setbacks and an unyielding work ethic can differentiate successful entrepreneurs from the rest.
7. Be Strategic About Diversification:
   • Adding more “legs to the stool” through wholesale, retail, and online channels provided Vic’s Meats with stability. Diversify business offerings to reduce risk but ensure each expansion aligns with your expertise.

Actionable Insights for Business Owners

• Evaluate Your Business Model Regularly: Don’t wait for a crisis to rethink your approach. Periodically assess whether a pivot or new revenue stream could strengthen your business.
• Network Actively: Building a strong network of clients and partners can help navigate tough times. Start with local businesses and expand gradually.
• Embed Sustainability in Operations: Look for ways to minimize waste and use resources efficiently. Sustainable practices can improve margins and appeal to eco-conscious consumers.
• Adopt a “No Quit” Mentality: Setbacks are inevitable. Develop a resilient mindset, and be prepared to adapt your approach. Embrace challenges as learning experiences.
• Stick to What You Know, But Be Open to Learning: Stay focused on your core strengths but be open to exploring new markets or technologies that complement your business.
• Leverage Online Channels: If you haven’t already, consider e-commerce as an additional channel. Even if it starts small, it can be a valuable safety net in uncertain times.

Anthony Puharich’s journey illustrates that while tradition provides a strong foundation, adaptability and resilience are the keys to enduring success. Business owners can draw inspiration from his story and apply these insights to navigate their entrepreneurial paths.

Listen to Mark Bouris and Anthony Puharich in Conversation