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Old 02-26-2013, 10:06 PM   #11
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I would start now building up coral colonies unless your going to buy from a supplier. Just my .02 that way people who purchase your product know where it came from and I imagine it would be loads cheaper since you won't lose as many in the shipping, and technically it would be all profit I reckon
Very good Idea actually thanks for the tip!
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Old 02-27-2013, 12:02 AM   #12
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Glad to be of assistance. I think if someone is opening a business it should be something they enjoy. That way you have a better eye towards quality and not just profit. Most fish stores these days have 50-100 10 gallon tanks with 20-30 fish in each one. I imagine they probably lose more fish than they sale due to overpopulation. It would be nice to see a lfs in my are that actually cares for the fish rather than just sell them. Then you don't have to worry about quarantine tanks and all that stuff. Also if happy the fish will be more vibrant and IMO sell for more money. My local Mart of the wall has white goldfish...hmmm
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Old 02-27-2013, 01:25 AM   #13
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Depends a lot on where you are. If you are starting it out of your home initially it will cost you a lot less overhead, but you'd obviously be limited in the kind of business you could do.

Here in FL I had to get a resale certificate from the state, filing for the state articles of organization, fictitious name/dba (if needed), aquaculture nursery certificate, and county occupational license.

The biggest thing to focus on while you are planning this is to figure out what you are going to specialize in and if it has a real market. Try to find a balance between what you personally like and what you think actually sells, sometimes they are not one in the same.
Good advice for a business venture.

Take marketing classes or just study it and sales and advertising, knowing how you can market your merchandise will be key when you are competing with web and over seas pricing. You should also look for a special market opportunities you can fill, like doing tanks in offices or maintenance, or ??? special starter packages for newbies.

Since it will be a very long time until you do this it will be imperative you stay with the trends and the current and future developments!

If at all possible work for a mom and pop store and pay attention to the good, the bad and the ugly things that can and will happen.
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Old 02-27-2013, 01:35 AM   #14
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Good advice for a business venture. Take marketing classes or just study it and sales and advertising, knowing how you can market your merchandise will be key when you are competing with web and over seas pricing. You should also look for a special market opportunities you can fill, like doing tanks in offices or maintenance, or ??? special starter packages for newbies.

Since it will be a very long time until you do this it will be imperative you stay with the trends and the current and future developments!

If at all possible work for a mom and pop store and pay attention to the good, the bad and the ugly things that can and will happen.
In addition to that, I'd highly encourage taking managerial accounting. As a finance/accounting major, that class will be essential to understanding your operating costs, variable costs and fixed to eventually to reach your net income.

In regards to marketing, I believe as long as you have high quality products, the consumers will travel to come to you. Obviously do not open a store in your basement because that tends to be shady. Strongest way to market is something that is common sense and in my opinion does not need a class. Start off by providing high quality goods, give good advice and tips and it will just spread. Think of why you go to certain stores and not others. Consumers are slowly having more power over retailers and stores, think about them and not your profits and your profits will grow.
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Old 03-05-2013, 10:20 PM   #15
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A friend of mine, LFS owner, ran a VERY decent shop right out of his garage. HE had to extend the garage, heat, A/C, and insulate it. He biggest gripe was his power bills. He sold High quality freshies, and treated eat fish there as his "baby". He was good with customers and had a Fountain of wisdom and advice about all the fish, products, filters the whole nine yards. (ALL Pre-internet days, dont know where he found all the knowledge he had!) His wife had a degree in Business so she ran the books, He ran the shop. He made little money on the side, not a fortune, so he worked a regular job as well, and spent his of hours caring for the tanks and fish in his shop. Yes, it is hard work, he had 90+ tanks, each needing attended, fed, cleaned, water changes and examination of stock. He did this while customers were there asking questions, Buying stock and supplies. But he enjoyed it it was his passion. And he had a GOOD shop, I never got a bad fish from him. As a shop, thats the level of commitment you gotta have. Talk to your LFS owner, see what it takes to run a shop. Most will tell u. Learn everything u can know while young. Customers will ask a Billion questions, bring in sick fish, want to know compatibilities, and everyother question. They will expect u not only to sell them the fish and stuff, they will come to u as a fish Vet as well. So learn all u can while u can. And as far as salties, get intouch with and export company, learn the ropes on the import business end and what u will need. There are many excellent Marine export companies in the Philippines and such. Now, only net caught, no more drugging the reefs) Check it all out!
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Old 03-10-2013, 11:12 PM   #16
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Another thing to consider is if you just open up shop In a building you have to cycle 50+ tanks a month or so before you can even add fish. Kinda hard to sell fish that aren't there.
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Old 03-10-2013, 11:45 PM   #17
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Another thing to consider is if you just open up shop In a building you have to cycle 50+ tanks a month or so before you can even add fish. Kinda hard to sell fish that aren't there.
You could add fish the first day....how ? Get the filter ,media,ect from a current tank n some water and tro it in there and your all set that's how I do it when starting a new tank
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Old 03-10-2013, 11:49 PM   #18
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Or the filter pads
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Old 03-10-2013, 11:58 PM   #19
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Like stated previously, it will take alot of work and money. It is hard for "mom and pop" shops due to stores like petco and petsmart and even walmart. There is tons of overhead and utilities are going to be a huge cost (lights,filters, etc) just from having a couple tanks in my house (29 and 40 gal) it went up quite a bit. But if you have the ambition to do it then keep it up! Business and marketing classes will help too! Goodluck and keep us posted if you can!
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Old 03-11-2013, 12:38 PM   #20
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Yes but seeding 50+ tanks from just one filter pad?
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