the What would it take to open a fish store discussion thread

[hail_sniper]

This is a dream of mine to one day open a dedicated fish store with the utmost service and great prices.

so for the sake of hypothetical fun.

what would it take to open a store, factoring in the initial investment and upkeep of the store. setting up the equipment systems, creating contacts with vendors. etc.

Doe's anyone know the fine details of what it'd actually take? because one day far from now, i plan on doing this.

[Polahbear]

I'm not an expert but the advice I got was work at one first and you can get a glimpse of all the stuff that goes on in the background, and get answers from people that have already gone through the setup. Of course some owners might not want to help a future competitor.

[hooterhead]

It'll take more than you ever want to give. Whatever number you have in your head to start it up, triple that. It always costs more than people think. Say goodbye to weekends and days off. Say goodbye to your love of the hobby. Ive been working in stores/wholesale facilities for the better part of 10 years. I used to have 36 aquariums. Now, I have none.

Don't wanna burst your bubble but this is the unfortunate truth. Working in a store was awesome for the first year or so. After that, you can only take hearing "How hard is it to keep a sw tank?" so many times...

If you want to shoot me a pm, I'd be glad to help fill in some of the gaps for you.

[snorvich]

It'll take more than you ever want to give. Whatever number you have in your head to start it up, triple that. It always costs more than people think. Say goodbye to weekends and days off. Say goodbye to your love of the hobby. Ive been working in stores/wholesale facilities for the better part of 10 years. I used to have 36 aquariums. Now, I have none.

Don't wanna burst your bubble but this is the unfortunate truth. Working in a store was awesome for the first year or so. After that, you can only take hearing "How hard is it to keep a sw tank?" so many times...

If you want to shoot me a pm, I'd be glad to help fill in some of the gaps for you.

I agree. The only way to make a small fortune in the LFS business is to start with a large fortune. Knowing the livestock side of the business is nice but irrelevant unless you understand the business model and are able to apply that model in a profitable way. Having consulted with two, I can tell you it is no dream job, just a constant worry with no life outside of work.

[username in use]

Your better off trying to get a job at a public aquarium.

[krjackso]

I agree with most comments, but I still think it is feasible to open a small operation and fulfill a dream. I think a necessary starting point would be a superb supplier though. Someone bringing in hard to find pieces, etc.

[snorvich]

I agree with most comments, but I still think it is feasible to open a small operation and fulfill a dream. I think a necessary starting point would be a superb supplier though. Someone bringing in hard to find pieces, etc.

Right. The competition for a superb supplier is fierce and unless you have incredible volume with that supplier, they will give their business elsewhere. Cherry picking goes to the huge buyers not the small businesses.

[Digitalelectric]

The key to running a successful business of ANY kind is having enough capital. Not just enough capital to open the business but enough capital to get you through the months of losses. These losses will be due to many reasons such as trial and error, inventory management issues, lack of consumer awareness, employee training, and more. If you really want to open a business in your area you need to find a reputable accountant that specializes in small businesses and make him/her your best friend. If you live in an area with more than one LFS's then try investigating them and finding out why the successful ones are successful and the unsuccessful ones are unsuccessful.

Someone on here mentioned not to turn a hobby into a job because it will no longer be fun. Half Truth this is says Yoda. If you do it RIGHT and have enough capital and experience then owning a business can be awesome. However if done wrong it can be true h-e-double hockeysticks. I say go for it but only after informing yourself properly.

That being said; my favorite store in town has small squarefootage yet makes good efficient use of what it has. Diversity of selection is key. Also a tank full of bubble algae or flatworms drives any customer away. Show the customer what a reef tank SHOULD look like.

[Aaarrrggg]

I'd say your best bet is to make it an online store. At least that way you don't have randoms coming in off the street and wanting to put a "Nemo" in a goldfish bowl! ...And if you do, you have the time to type back a tactful response! ;)

[0 tds]

I suggest going and working in your LFS (even if only on Sat and Sun). That might just "fulfill a dream" with out having to put any money on the line. If after a year you still want to open a shop go for it. Think of the first year as OJT at someone else expense.

[trmiv]

The best way to make a small fortune with an aquarium store is to start with a large fortune.

[Dyzio545]

Believe it or not, but plumbing would be the easiest for a fish store. I looked into it one day. If I were to open a store, I would have a pretty nice setup.

[aandfsoccr04]

You would definitely have to get a big loan like maybe a SBA loan. For starters, you would need a lot of capital to get the tanks up and running and livestock in them and then your two other huge costs are going to be payroll and advertising your school. How are you gonna market? Are you really going to be able to bring in enough customers through online marketing such as social media and search engine optimization or are you going to have to invest higher amounts of money into other forms of advertising.

[d0ughb0y]

within 2 miles of where I live are 2 LFS, both of which were sold at least once already. so if the opportunity presents itself that there is a struggling LFS where you live where the owner is thinking of getting out, you can probably buy the business for cheap (if I recall correctly, it was originally listed for sale for 100k, but went for probably half that). that's how the current owners of the LFS got into the business, and both kept their day jobs. one of them unfortunately is going out of business and just closing shop.

[ginger7286]

Knowledge above all else. So many LFS here sell livestock they know nothing about. Great help, having a knowledgable staff is a MUST! My suggestion is work at one for a while, even if it is volunteeer to see the behind the scenes work and dedication.

[jake levi]

The most successful small aquarium store I have known was in a friends suburban basement. Of course it destroyed private family life, and he had a day job and was there just eves and weekends, his wife had days hours and they were closed for a whole hour for dinner. A d the shop closed at 9pm, it was open sat and closed sunday.

They put in a huge number of hours but had one of the best selections of marines in the area and a very nice freshwater section. They finally closed it and moved to Hawaii. THey did well because they didnt have a huge rent expense, salarys for help, and he was a contractor and was johnny on the spot for repairs and maintence.

Something to think about, pros and cons for everything. They did well because they had a good product, very high quality and controlled expenses that tend to run away for other stores.

[jrobison]

Good info at www.wetwebmedia.com

[frankpayne32]

What pretty much everyone on here is saying is true. I have a friend that runs a LFS. He only runs it Fri-Sun and he has a full time job. He only does it because he loves the hobby and interacting with other hobbyists. If he breaks even he's happy. The only reason he does it and actually enjoys it is because he doesn't try to make a living off it.

[snorvich]

What he said /\ As long as you do not expect to make money, go for it. There are many, many failures by the side of the road and it was not for lack of knowledge of the animal side.

[hail_sniper]

sorry for the late reply, my internet bill was'nt paid for some reason :uzi:
Good info at www.wetwebmedia.com

that really takes the ticket on info, i will definitely look into it. :reading:

as per what you have all said, i would have to save alot of capital.. which may be hard, and i guess the best way would be a buyout from an owner, which wouldnt be the likeliest situation.

so i've decided later on to start a basement operation on the side as the most likely beggining.

if you guys had a choice, where would you specialize?

[Grassroots]

specialize in aquarium maintenance

[hail_sniper]

you know what, i've been thinking of doing that, it'd be the easiest thing to do in between my school days.

i'd just need lots of RO/Di water, Salt on hand, Buckets, towels, nets, scrapers, test kits, and patience.

I may just look into it.