Florida-based Ocaquatics Swim School recently celebrated its 30th anniversary and became a 100% employee-owned company. Started by founder Miren Oca out of necessity to support her family, the company has grown into a pillar of the Miami community, providing over 6,500 swimming lessons each week across five indoor locations. The transition to employee ownership, with 50 co-owners, aims to preserve the company’s mission-driven ethos and share its success with those who have played a vital role in its growth.
In an interview with Miren Oca, she shared key learnings from her 30 years of running Ocaquatics. Learning the importance of good leadership, she became a student of leadership, focusing on developing her team and investing in their growth. Through perseverance and taking calculated risks, Oca navigated challenges such as Miami’s weather and growth obstacles by expanding to indoor facilities, fostering a team of 165 people who have taught almost 3 million swimming lessons to enhance water safety in the community. Oca emphasized the impact of business beyond profit, as a tool for good that can prioritize people, planet, and profit simultaneously.
Oca explained her decision to sell Ocaquatics to employees through an Employee Ownership Trust (EOT) as a way to secure the company’s future and share prosperity with those integral to its success. By transitioning to employee ownership, Oca believes the team members, who have been part of the company’s growth, are best suited to continue its mission and purpose. The EOT structure was chosen for being more straightforward and cost-effective than other models, ensuring employees share in the company’s profit and have a stake in its future. Oca plans to remain actively involved in the company’s operations as a co-owner, fostering a culture of ownership for the team.
The ownership change at Ocaquatics signifies a deepening commitment and engagement from the team, who now have a direct influence on the company’s success. While operationally little will change immediately, the transition to employee ownership will enhance the team’s ownership mindset and investment in the company’s outcomes. With the EOT in place, Ocaquatics aims to provide fair wages, good benefits, and growth opportunities for its team members within a culture that values sustainability and community impact. As a certified B Corp, Ocaquatics focuses on social and environmental responsibility, engaging its team in various initiatives that contribute to the community and environment.
Looking ahead, Ocaquatics plans to continue its work as a life-saving swimming school and water safety educator, ensuring the business remains a force for good in its community. By keeping ownership local and rewarding those who contributed to its success, Ocaquatics aims to model a different approach to succession planning, one that benefits the team members while making a positive difference in the community. Through its transition to employee ownership, Ocaquatics hopes to inspire other businesses to consider this alternative model for succession planning, emphasizing the long-term impact and community engagement it can foster.
