Chronic Ink
Chronic Ink

Foresight, adaptability, and innovation characterize success stories in entrepreneurship. Entrepreneurs combine these three to anticipate market shifts and navigate challenges. This ability distinguishes visionaries, allowing them to reshape industries and create opportunities.

Ricky Fung's entrepreneurial journey of contributing to the advancement of the body modification industry in Toronto, Canada, and building an ecosystem of companies that would revolutionize the sector attests to this. His entrepreneurial acumen and willingness to challenge the status quo as an individual of Asian descent make him stand out in the body modification sector.

Fung's venture in entrepreneurship started in 2007 when he stumbled upon a front-page online ad featuring a tattooed woman. This was the first time he had seen a major digital property feature someone with body modifications, which brought him an epiphany that tattoos are bound to become a cultural phenomenon. Ricky felt even more inspired to capitalize on this developing trend in the body modification industry since the United States is often a few steps ahead of Canada in trends. The American ad showcased that tattoos would also become very popular in Canada soon. Ricky leveraged his background as the co-founder of a tire recycling facility to jumpstart his body modification venture.

Instead of starting from scratch, Fung seized the opportunity to purchase an existing business from a tattoo artist looking to exit the industry. His lack of knowledge and experience in the world of tattoos didn't hinder the visionary from building Chronic Ink to what it is today.

The owner's motivation to start this endeavor stems from his desire to challenge the conventional norms of the educational system and pave his way to success. As an inherently curious individual feeling out of sync with the pace of traditional education, he states, "I realized that the longer you remain in the system, the more money it makes without allowing you to discover your passions. Once you realize that their inherent goal isn't to prepare you for work after graduation as quickly as possible, it's easy to become very disillusioned by the idea of formal education."

With this realization, Fung decided to drop out of university and pursue his passions on his own terms. It's this determination that enabled him to address challenges head-on as a self-made entrepreneur. When he acquired Chronic Ink, Fung had to face the reality of transforming an existing tattoo business into a venture that would redefine the industry. Building a culture and space that aligned with his goals was difficult, but Fung believes these early sacrifices paved the way for Chronic Ink's successful future.

Still, the business' early years were far from smooth sailing. Fung suffered from financial losses and issues with operations. When he purchased the business, he inherited two existing tattoo artists. However, he soon realized that neither embodied the studio he wanted for the future, and in a kamikaze way, he let go of both artists. He was left with a tattoo studio with no tattoo artists and was not one himself. This sacrifice ultimately became crucial to Chronic Ink's success as he was able to completely reset and rebuild the company as he saw fit. Starting carte blanche gave him the desperation he needed to fulfill a future of his liking as quickly as possible. "The future can only come as fast as you force it," Ricky asserts.

In 2010, Chronic Ink finally became profitable. The studio's success attests to Fung's unique approach to business management. Tattoo studio owners are usually artists themselves and have difficulty balancing daily operations with driving new growth. However, Fung is different. His outsider perspective allowed him to dedicate his full attention to business development and implementing innovative strategies.

Fung also established Chronic Ink's distinct brand identity. He changed the studio's aesthetic, infusing it with a sleek, modern vibe that appeals more to clients. He got rid of the dark and cluttered aesthetic typical of tattoo studios, differentiating Chronic Ink in a crowded market. Fung implemented stringent hygiene protocols and invested in cutting-edge equipment to elevate Chronic Ink's standards and rival those of high-end salons.

It's also worth noting that the studio sets it apart from its peers with its forward-thinking view on apprenticeships. Apprenticeships were rare in the ink industry due to their exclusivity, but Chronic Ink challenged the norms by offering aspiring tattoo artists opportunities to learn and grow under the guidance of seasoned professionals. Thanks to Fung's leadership, Chronic Ink earned a reputation as a premier destination for clients looking for top-tier tattoo services.

Fung remarks, "It just shows that the most important aspect of business isn't necessarily domain expertise, although those are certainly important. I believe resiliency comes above all else. This strength allowed us to start with one artist, then expand to two, then to three, and now we have a team of around 90 artists in-house. Additionally, we collaborate with hundreds of international artists every year."

Following Chronic Ink's success, Fung ventured into the piercing business. He recognized the need for a safer and more welcoming space where individuals, particularly mothers and daughters, could feel comfortable getting quality piercings from knowledgeable professionals. He then established Pierced, a concept store offering a sterile and comfortable environment for piercings. It embraces a softer and feminine brand identity, catering to a diverse clientele.

Fung applied the same branding, infrastructure, and innovation in Pierced to diversify his portfolio and tap into a niche market. Unfortunately, he encountered resistance from larger body jewelry companies unwilling to supply Pierced with the quality jewelry it needed to fulfill its promise of delivering exceptional service. Frustrated by the gatekeeping tactics employed by these companies, Fung decided to take matters into his own hands.

He co-founded Junipurr—a body jewelry company dedicated to making quality gold and titanium jewelry accessible to good piercers–with his wife. The pair's vision for Junipurr stems from the belief that competition breeds innovation and benefits consumers. Junipurr quickly turned from an idea into a successful business. Today, Fung takes pride in his wife's leadership role as CEO of the brand. He no longer oversees Junipurr but remains actively involved in the business, offering his expertise and guidance as a consultant and supportive partner.

Fung envisions continued growth for both Pierced and Junipurr. Meanwhile, as an angel investor, he remains committed to supporting and mentoring other entrepreneurs and emerging startups, leveraging his experience building successful companies. He anticipates significant changes in the body modification industry over the next decade, readying himself to adapt to shifting consumer behavior and market dynamics.

Despite his astounding success as a serial entrepreneur, Ricky Fung emphasizes that his greatest success is being the father of two wonderful children. He asserts that to truly make a positive difference in the world, it starts with investing time and energy into raising the next generation of problem-solvers.

"It's important that tattoo and piercing studio owners alike pay equal attention to macroeconomics, changing trends in both labor and consumerism as much as their art," Fung says. "Sometimes we focus so much on the art and the technicals, we forget about all external financial factors that can equally impact the business."