Reed Petersen’s entrepreneurial journey began with curiosity, innovation, and a knack for problem solving. Born and raised in Rochester, MN, Reed started his company, Lab Liquidators, at just 20 years old. Now 26, he has built a thriving business specializing in sourcing, refurbishing, and reselling used lab equipment.
Reed’s love for tinkering started early. As a child, he spent hours disassembling and rebuilding gadgets— simply because he was fascinated by how things worked. This curiosity followed him to NDSU, where he pursued a degree in physics. Later, during his graduate studies at NDSU, Reed noticed an opportunity: many labs were cluttered with unused or broken equipment. With his advisor’s encouragement, Reed began repairing this equipment.
His eureka moment came when he found a discarded piece of lab equipment near a dumpster. He repaired it, listed it online, and sold it within two months.
Some of the equipment available through Lab Liquidators
“That’s when it hit me—there’s a bigger opportunity here,” Reed said.
A research trip to India reinforced his intuition. He observed labs using preowned equipment due to smaller budgets—meaning there’s a global market for affordable, refurbished tools.
Upon returning to the U.S., Reed committed fully to the idea, turning his hobby into a business that now serves startups, universities, and research facilities worldwide.
Lab equipment is notoriously expensive, and often produced in limited quantities with advanced technology. For startups and research institutions with tight budgets, purchasing new equipment isn’t always feasible. Reed’s options provide an affordable alternative.
“I hate seeing valuable lab equipment go unused or end up in a landfill,” Reed said. “These tools have so much potential to advance science.”
Lab Liquidators’ inventory has grown to over 5,000 SKUs, ranging from fully functional lab equipment to individual components. Unlike competitors who prioritize quick turnover, Reed focuses on building a comprehensive inventory to meet diverse customer needs. “Our goal is to have what customers need when they need it,” he said.
A Strategic Approach To SEO and Expertise
Most of Lab Liquidators’ customers find the business through organic search, making search engine optimization a cornerstone of Reed’s strategy. His team documents each piece of equipment, providing detailed descriptions of its condition, functionality, and requirements.
“We aim to be the equipment experts so our customers don’t have to be,” Reed said.
Reed’s passion for lab equipment drives him to continually expand his knowledge. “Just two nights ago, I couldn’t sleep because I was so excited about an atomic force microscope we got in stock,” he said.
With a small but dedicated team, Reed has structured his business to handle the entire lifecycle of lab equipment—from sourcing and repair to sales and shipping. Many of his employees are recruited from local universities, including NDSU.
In order to get to this point, Reed has relied on organic growth to scale his business. Participating in the SBA Thrive program provided him with foundational business knowledge, helping him navigate financial planning and strategy. “Growing slowly and intentionally has been a blessing,” Reed said. “It’s allowed us to build sustainably and with less risk.”
Innovating Beyond Refurbishment
Lab Liquidators has recently expanded into manufacturing ancillary components and preventative maintenance kits. These products fill a gap for equipment no longer supported by manufacturers. For example, rebuild kits for vacuum pumps ensure customers can maintain their tools long-term.
Our goal is to have what customers need when they need it.”
“This new product line provides a consistent and replenishable inventory, which is a priority for our future growth,” Reed said.
As Reed continues to grow Lab Liquidators, his vision remains focused on advancing science while reducing waste.
“There’s so much potential in the tools we save,” Reed said. “I’m excited to see where this journey takes us next.”
Lab Liquidators
Linkedin | /company/lab-liquidators
