Starting a fish store

The friendliest place on the web for anyone with an interest in aquariums or fish keeping!
If you have answers, please help by responding to the unanswered posts.

Paulyboy123

Aquarium Advice Regular
Joined
Sep 22, 2012
Messages
58
Hey guys I would like to know what permits and licenses I would need to start an LFS. I'm planning to start one up after I'm at least 20 since I'm only 14 at the moment also any ideas how much it would cost for a average sized fish store. Keeping fish is my passion and saltwater is my favorite (mostly reefs) :) please respond thanks!
 
Hey guys I would like to know what permits and licenses I would need to start an LFS. I'm planning to start one up after I'm at least 20 since I'm only 14 at the moment also any ideas how much it would cost for a average sized fish store. Keeping fish is my passion and saltwater is my favorite (mostly reefs) :) please respond thanks!

It's great that your so passionate about the hobby and that your so motivated!! Strive for your goals!! I wish you success with whatever you choose!

Now.... With that said. This is a very LOADED question. You'll need permits for certain fish. You'll need permits to build. It's a hard question to answer with bottom line type answers ( hope that made sense)

Size of ship will depend on location and what you can find in your area, also what rent will be. The your tanks, both freshwater and saltwater, setting up displays and stocking them, also stocking the shop with products, food, lights,rocks, live rock, driftwood, chemicals, testers etc etc etc.

Of imagine it would cost a few bucks to get it going, then up keep, and staff, insurance. Then... Would you offer accounts? Would you be doing custom installs? Or just a basic mom and pop shop?
 
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.
 
As someone that is in the process of doing something very similar ill tell you now. Start taking any business oriented classes and maybe even a BA in business. This will make your life a whole lot easier trust me. I have no legitimate education in business which is making everything so much harder to do but luckily my sister did major in business so she can help me out. Also, your credit, build it up as soon as you can that way your loans won't be next to impossible to get. One easy way to do this is get a credit card, withdraw money off the card and just stick it in your checking account. Then when your bill comes around just take the cash out your checking and pay that and your interest in full on time. The sad thing though, being you are 14 I don't know how much you know about the economy issues but small mom and pop stores although very VERY needed for a stronger economy are very hard to start due to large corps. Most new business owners also won't even see a true profit until their third year which then its usually still razor thin margins.... Like dino stated though this question is very broad and can't really be fully answered with out more info from you like what your stock list would be usually, employee count, state and local laws and regulations, etc.
 
I forgot to mention my stock would be like salt water fish and corals but lots of corals a separate tank for each type ex) acropora. Also I would sell tanks and equipment, lights etc. and have maybe like a show tank where people could buy the expensive fish and corals such as big chalices or rare zoas
 
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
 
You need to understand the initial capital that you would first need.


- Consider the rent expense which depends on the size of your shop. It also varies depending on location. An estimate may be $2000-$5000 in a non populated area (my dad owns a restaurant in New York City and pays $20,000 monthly rent)

- Also you would need to consider the employee expense unless you intend to run this place all by yourself.

- You will most likely be responsible for the restructuring of the store space which can costs thousands of dollars

- You also need to consider all the materials you need to start off the business (running tanks with filters, heaters, etc)

- I would imagine utility expenses to be quite a lot (water from water change, electricity from all the lights, heaters, filters)


You need to understand that you will be break even (when your profits accumulate to all the money you had invested) in 10-15 years depending on how successful you are.

Good luck.
 
its not cheap especially start up

buddy has a 100000 sq ft shop just saltwater
spends more time working than with family

and his rent is high plus all the equipment and all his overhead
don't know exact amount cause it's not my place to ask but I know it wasn't cheap
 
Phish said:
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!
 
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
 
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.
 
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.
 
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!
 
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.
 
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
 
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!
 
Yes but seeding 50+ tanks from just one filter pad?
 
Back
Top Bottom