calling advice from aquatic store owners

[picoreefguy]

kstyle if you have never had or worked in a small business i don't recommend it. and if you have you should know to turn and run. ive spent my entire life in and around small business. ive got several friends that are business owners and my dad has had 4 different business' and ever since i was a little kid i've helped at all but one, doing everything from breaking down boxes and taking out the trash when i was 7 to dealing with vendors and PITA customers (there are good ones but a lot of them suck), placing orders, and writing checks and everything in between. what i can tell you is that what i do sucks and i couldn't imagine being the owner and the one responsible for the business.

the best analogy i can think of is to compare a small business with having your first child. It's a 24/7 gig, if you aren't doing something involving the business you're going to be thinking about it. 90% or more of your money is going to go into the business to get it up an running. you will NOT have a personal life for a very long time. and unlike a child that grows up and learns to take care of it self you will have to care for your business until you close the doors or sell it. even if you hire someone to manage the business its always on the back of your mind. im not trying to scare you away but its a very taxing endeavor and not to be taken lightly. oh and unless you get very very lucky you wont end up with a ton of money in the bank when its all said and done, you'll end up living just slightly better then the average joe.

Acroholic;941857 wrote:
I've had many, many, many people ask me why I haven't ever opened a reef store, or a wholesalers, or something else related to fishkeeping, as I have been in the hobby for 40 years, and have kept almost everything you can think of. My answer is that if you try to earn a living off of it, it becomes work.

I like fishkeeping too much to ever let it be anything but a hobby.....JMO.

my thoughts exactly.

 

[kstyle13]

And Honestly. I'm ok with that. I have run several small businesses. I have actually owned a few. They were based from home but they were successful in the short time I had them. That was in my teens and school became more important. I am planning on starting from home. I already breed several varieties of freshwater fish and cultivate live plants. I am beginning to frag a few corals. I have several people whom I will be supplying with their aquatic needs. I run a successful business now cleaning and taking care of fishtanks. Similar to what wet pets does. I do everything from beginning start up to maintaintnence. I am a firm believer that success doesn't happen over night but if you love what you do you will never work a day in your life. Such is true with my dogs. I'm a breeder for several different species. I do tattoos and I breed several different freshwater livestock. I am also a master cosmetologist. I am always looking to e paid my businesses. I am ok with not having a social life. I don't mind being married to my business as I am already married to them. Lol I have a 12 year old daughter so I know how time consuming children can be. At this stage in my life I want to enjoy what I do. I've had this dream for 17 years. I've been in and out of the depths of this hobby for 17 years. I know what I want and I'm ready for it. Sometimes people know what it is they want to do in life and I feel a stronger g connection to this and so I am going make it work.

 

[indecloudzua]

You breed dogs?

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[wannabeeareefkeeper]

kstyle13;941833 wrote: Hey everyone,
I am getting more and more frustrated in this hobby. I am in the warner robins area which as most from here know there aren't really any specialty stores that focus mainly on our hobby. My dream since I was younger was to one day open a pet store. Well I am to the point now that I want that dream to become a reality. With this being said I have to come up with a business plan, a setup to support the aquatic life, and everything else that goes with it. This is a huge undertaking so I don't expect it to happen overnight. But I am doing my research and I would like feedback and opinions and suggestions. Many in the Atlanta area have successful businesses. I want a successful business in my area that will meet the needs of the thousands of refers here locally. Can anyone offer anything? I mean anything that would be useful in getting this underway!!
Thanks in advance
Kourtney

I'm not sure where you got you total of thousands. I would question those numbers. There was a Middle Georgia Frag Swap a summer or two ago. It was held on a Saturday at JB's house. There was approximately 15 people whom showed up for the meeting. It was posted here on ARC ahead of time. I'm sure some people whom missed the meeting had previous plans on other events. Three of the fifteen people travels from Cummings, GA and Griffin, GA.

I would check your source of the amount of reefers in this area. My opinion is if you included the areas of Valdosta, Columbus, Macon up to Locust Grove, Milledgeville, Eatonton, Warner Robins, and Madison; it could reach a thousand reefers in the area. I would still venture to say it would be less than that. ---- [just my 1/2 cents]

Wannabee

P.S. I'm not a business owner; but I have taken some college courses related to business. One of the key successful tools of your arsenal will be "demographics"; location, location, location. Some time ago, I learned in one of my classes that Walmart had the best of the best people when Walmart was looking to open new stores. If you have not read "Good to Great" by Jim Collins, I highly recommend reading this book. Jim has several other books he has written that may also help you on the business side of things. I hope you the best in your ventures.

 

[kstyle13]

Yes. I am ckc registered to breed dobermans, miniature schnauzers, and ****-tzus. I also breed angel fish, oscars, blood parrots, African cichlids, mollies, platties, zebra danios, guppies, bettas, opaline gouromis, white cloud minnows, and convict cichlids. I also propagate many freshwater plants species, and ghost shrimp

 

[indecloudzua]

Goodness..I see those breeds all the time at the shelters I volunteer at..some of those fish breed themselves I'd implore you to quit breeding dogs since I see how many get put to sleep but it's your choice
I hope you advocate spay and neuter to your customers

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[kstyle13]

I guess saying thousands was not entirely correct... so let me reiterate that statement. There are thousands of people keeping aquariums. So open a fully functioning aquarium location with not only saltwater but also freshwater will bring in more revenue than focusing on only saltwater. However saltwater is more expensive thus being more profitable j have a love for my freshwater as well. As do many others. So I am planning on doing just as much with my freshwater as I do with the reef. I have been stashing and holding tanks, equipment, and supplies for freshwater for around 17 years. So as far as start up with that I'm set. Lol I could set up and store now if I focused on only freshwater. But that's not what I want so I'm waiting. I want to be an all in one reputable aquarium shop.

 

[indecloudzua]

More expensive doesn't necessarily mean more profitable. Means higher overhead with the ability to be more profitable. Your costs will go up dramatically keeping corals and if you can't move enough product quick enough that more profit means more debt.

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[kstyle13]

Everyone has their opinions on breeding dogs. I don't breed as a backyard breeder that just does it by accident. I breed under ckc regulations and I only allow my puppies to go to Home whom are willing to take care of them. Yes spay Nd neuter is a must. But I can not control the actions of another person. All I can do is charge a high price tag on my dogs Nd have a 1 year health guarantee. If anything happens where someone can not take care of the dog then the dog comes back to me. I don't sell to people who are questionable and I don't advocate mistreating of any animals. I also have a soft spot for shelters but there is people out there who do not want a shelter animal so they are willing to pay a price tag in order to ensure the dog is going to a good home

 

[kstyle13]

Your absolutely correct. That's where bringing in "in house" supplies comes in. A little saved in one aspect give a little wiggle room with overhead in another. I'm not new to the retail world. I understand how it works. Lol just want advice from other people and love to hear other people's thought. Don't think I'm taking offense to any of it. I live for constructive criticism. And appreciate it more than most

 

[kstyle13]

Also Rome wasn't built overnight. I believe that's the old saying. But hear and seeing where other people got burnt out or did not succeed allows for others to see what works and what doesnt. I guess it's like the circle of life if you squint one eye and tilt your a certain way.

 

[indecloudzua]

That's not a good justification to add to the overpopulation and the amount that is spent by taxpayers. You should ask them how much there electric bills are.not even discussing supplies. There's a lot more than just standard retail stores face.

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[indecloudzua]

But when you start out your post saying that you are getting more and more frustrated with the reef hobby yet already want to open a store doesn't bode well for Rome getting built.

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[wannabeeareefkeeper]

If i'm still in this area when you have your grand opening, I'll be there. Just remember that you will be competing with Petsmart and Walmart with fresh water fish pricing. If your staff is focused on customer service, you'll win.

As I stated in previous thread; if you haven't read Jim Collins "Good to Great", read it. Jim's books related to business will help you gain a competitive edge where "word of mouth" is your best advertisement tool. It can also be a very deadly advertisement tool.

I grew up in the mid west. I remember going to a fish store with my brother on Saturdays. It was a madhouse where everyone was buying fresh water fish. The marketing tool was used at it's best. That fish store is still open today; only I would hesitate to visit on a Saturday. Another one of the marketing tools is they build custom size aquariums in the back of the business. The owner told me some years ago that people travel hundreds of miles to purchase aquariums from him. I'm sure those people where in the area to visit "loved ones" and decided to pick up an aquarium on their way back home. :lol2:

Wannabee

 

[kstyle13]

Yes. Absolutely wannabee. There is zero customer service in really any of the local stores. Everyone seems to either not want to be there or not knowledgeable or just plain doesn't care. So by basing the business on customer service it is going to be above the rest. And word of mouth is very key. I am a master cosmetologist. Word of mouth is everything. If I mess up one person or give one person bad service I can go ahead and realistically count on 10 people not coming to me because of the one bad service.

 

[jennm]

Dave is right (Acroholic). When you do it for a living, all the hobbyist fun runs away. FAST.

I loved the hobby, and I loved the work of running my shop for almost all of those years. Toward the end though, I was tired and burned out. I still loved it - but seeing the rest of life passing me by was getting me down. I never put my kayak in the water once last summer. I only got out in it once the year before. We build these cool campers, I can count on one hand the number of nights I've managed to spend in one - at a campground 5 miles away, and camped Saturday night, after work, and came to work on Sunday.

My priorities changed. You can't have a life AND run the store.

I have friends in Kansas who just celebrated 20 years with their store. Husband and wife team, and they do have employees but I've heard the horror stories (employee theft, incompetence..) I don't think they've taken a vacation in 20 years. They've got more fortitude than I do.

I did manage to get a week here and there but not more than once in a year, and often it was 2 or 3 years in between. At first my (now ex-)husband would cover, and I'd come back to a mess that took more days to recover from, than I was absent. Later I had Brian - who did a fantastic job, especially when I went to Canada, twice, at the end of 2012 to look after my sick Mom.

That was a turning point for me - the beginning of considering how to exit. It's a reality check when you have a sick loved one, and it's a huge issue to go and take care of her. Family is first, and I had already sacrificed enough.

I think you're getting very sound advice here - there may be a REASON that there is not a major store in your area, it's quite possible that the market will not support it. That's where feasibility studies come in handy.

Freshwater - well if you're breeding them, chances are dozens of others are too, and trading amongst themselves. I carried freshwater for a while - didn't start with it - added it in after 18 months, and got rid of it after about another 4 years. They cost more to keep in water, electricity and such, than they generated in sales. When I downsized during the recession, that was the department that was sucking money out of the saltwater department, so it went. We went back to the original size of store (when we expanded in 2004 we doubled our space, in 08 we went back to the original size space) and that's how we hung on through the worst of the bad economy.

Things were finally turning around for the better in 2012-2013 but by then, I was ready to pack it in.

My hat is off to those who can stick it out for the long haul, but the truth is, if you look at stores here in the Atlanta area in the last 15 years or so, you will find that MOST have come and gone, and few have changed hands several times. At just over 11 years, I was one of the long-timers same owner/same store/same location.

So decide what your goal is. Is this what you want to do for 5, 10, 20 years? If you're only in it for the short term, be prepared to lose your shirt. If not, be prepared to live and breathe it for little return for the first 3 years or more, and who knows after that?

Lots of people have asked my advice over the years, and I've always been consistent with it. I've seen more than a few just ignore me, jump in with both feet, and in no time, they have come and gone and their money with it.

The running joke: How do you make a small fortune in the fish business?

Start with a large one.

Jenn

 

[skriz]

If you're asking for business advice here, you're not ready yet.

I have a lot of fun with my businesses. I still love the hobby. I take lots of vacations and have a lot of family time. I worked hard to build and still work hard; but more importantly, I work smart. Business is business; fish or otherwise, the same rules apply. Follow sound business principles and you'll be fine. Don't and you'll suffer the same fate as way too many.

You're into a lot of different things. My money is on the tattoo thing...lots o'money to be made in that arena.

 

[kstyle13]

Lol. Yes there is money to be made. There's even more money to be made in the hair industry. However as much as I like doing those things. They are not my passion. They are means to an end. A fall back if you will. But your right business is business. I guess j asked the wrong questions... I probably went about posting this the wrong way. I don't need to hear if you think it's dumb or if you think it's a dead arena. I am basically wanting to hear personal experience. Such as jenn and skriz has to offer. As well as a few others. But either way. I'm jumping in tonight either. I would like to go slow.

 

[skriz]

kstyle13;942220 wrote: Lol. Yes there is money to be made. There's even more money to be made in the hair industry. However as much as I like doing those things. They are not my passion. They are means to an end. A fall back if you will. But your right business is business. I guess j asked the wrong questions... I probably went about posting this the wrong way. I don't need to hear if you think it's dumb or if you think it's a dead arena. I am basically wanting to hear personal experience. Such as jenn and skriz has to offer. As well as a few others. But either way. I'm jumping in tonight either. I would like to go slow.

The hair industry is awesome. I had a salon and was simply amazed. I've since learned that all the salon charges on my Amex is no where near as bad as they could be!

Here's you conundrum: you'll likely not learn much from those who have failed as they'll either be delusional about why they failed, are too embarrassed to say why out loud, or still truly don't know why. Amd you won't learn much from the successful as they'll not be interested in giving away their secrets.

There are 2 secrets to a successful business:
1. Don't tell your secrets.

 

[acroholic]

Skriz;942233 wrote:
There are 2 secrets to a successful business:
1. Don't tell your secrets.

Hahaha!