Business idea for an aquarium store

[nikkiglass]

Hello everyone! My name is Nicole and I am a college student majoring in business. For the last 3 years I have had a 55 freshwater gallon tank and I absolutely love it. I would love to turn my hobby into a career and do something that I would love to do everyday.

My idea is to have an aquarium store that sells different species of fish both freshwater and salt water. I would also sell different tank setups and everything from the chemicals needed to the decorations in your tank. Aside from the actual store, I would offer services such as in home tank set ups, cleanings and water testings, so aquariums can be available to everyone's homes and not just hobbiests such as ourselves. I would have classes(for a fee) on different species of fish to help keep them alive and healthy and maintenance of the tank. I would also like to offer pond construction and maintenance.

I currently live in New York but after I finish up in my hometowns community college and earn a business degree, I wish to go to a four year school in Florida or California majoring in marine biology and minoring in business. I would open up my business in Florida or Cali depending on where I go to school.

I would love your feedback and comments on my business plans as you are my potential customers. If you would,
1. List three things that you liked about my product/services described in my statement.
2. Provide three suggestions for making the idea better.
3. Do you think my idea is realistic? Why or why not?
4. Would you, as my potential customer, buy my products and services? Why or why not?
5. If you would buy it, how much would you pay for it?
6. Please provide any comments or suggestions you think would be helpful.


Thank you for your time!

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[Supergummy]

I loved how you offered interactive tools such as classes! Great idea!

 

[Supergummy]

I would pay to the quality of your products, you should be priced reasonable and check out your local competition. If you have the money than I suppose your idea is realistic.

 

[Ian086]

The best advice I can give you is to try and get a part time job or work experience in a decent LFS. It will give you an insight of what is involved in running a successful LFS. It would be a start and then build from there....

 

[Ian086]

The best advice I can give you is to try and get a part time job or work experience in a decent LFS. It will give you an insight of what is involved in running a successful LFS. It would be a start and then build from there....

Also, I would buy from you, if you ship to Ireland at a decent price!!!

 

[Andy Sager]

I agree with Ian086. Get yourself a job in the field before striking out on your own.

As a veteran of the tropical fish/ pet business myself ( I did turn my hobby into a 40+ year career), what you described is basically what all the old Pet shops used to do. I've personally run classes for our customers on fish keeping. Keep in mind that if you want to educate your customers about the fish you want them to buy from you, you may find it hard for them to eagerly PAY for that knowledge when they should be getting it from you, their "trusted local fish store" before they buy the item anyway. That's part of your job if you want to have long term customers. ( The old style LFSs that are still around have that type of clientel. The ones that didn;t are gone.)
Customer service is by far the greatest attribute a store can offer. But you need to understand that in many areas, these LFSs have gone by the wayside due to the intrusion of the big box stores and chains. Much to my sadness, the small Mom & Pop pet shop has gone by the wayside in many areas. You will need to choose your location carefully. Should you decide to continue your schooling in FL, I can tell you of some stores you should visit. Some have been my customers for over 20 years.

I applaud your desire to be in this biz. It's a fascinating biz for sure. I will offer you any help I can.

Feel free to PM me if you need more help in FL.

 

[nikkiglass]

Great thanks for your insight everyone!

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[J.Mcpeak]

Tell the punters the truth! Of all the things that happen the most commonly observed let down is, "the LFS said. . ." (Something incorrect but financially profitable) That and employee knowledge or I really mean lack of!

That's a world wide thing. I know it's counter to the idea of business, "to make a profit" but word of mouth is the best form of advertising. (That shop is good!) what's the saying, it takes a lifetime to make yourself and one incident to break yourself.

Why Florida? I'm not an American, would it be easier to get stock to Florida? I guess that depends on where and what you intend selling. I would think internet distribution would be a major part of your business, especially in todays world. Where are the major parcel distributors located? The nearer you are to at least one hub the better for both inbound and out bound live stock. I think off shore reef farming happens there so maybe that's why?

I share your dream much like most fish keepers. So, good luck!
(I quite like the idea of a tank maintenance man) ...just add food! ,enjoy the show! Or here you you go!

There are a few small companies here that do that kind of thing for businesszzzzzzz with tanks in the lobby etc. some also offer a complete stock and cycling service, so you get a delivered tank fully cycled with stock/plants etc. (could be a lucrative sideline, which may work with your classes)

 

[Brookster123]

I'd suggest separating any in home services offered from your store, there are way to many variables that come into play, you could be the best tank maintainer on the planet and the cleaning lady sprays some febreeze in the room and boom.. Fishy apocalypse, all it takes these days is a few nasty write ups on google and your sunk. Not saying to forget the idea entirely just to shield yourself from any possible negative blow back!

 

[J.Mcpeak]

I'd suggest separating any in home services offered from your store, there are way to many variables that come into play, you could be the best tank maintainer on the planet and the cleaning lady sprays some febreeze in the room and boom.. Fishy apocalypse, all it takes these days is a few nasty write ups on google and your sunk. Not saying to forget the idea entirely just to shield yourself from any possible negative blow back!

(Lucrative sideline) but valid point! Trade under two names.
Photographic documents of water testing may be useful here, customer files.


Lots of companies are headed by one organisation.


(Shoot the cleaner first)

The advert,
fish tank maintenance personnel required, must be able to use a spade!


. . . . You could just issue a sheet of paper, fill it with some useful facts for the uninitiated, new owners and cleaners alike!
(No tapping the glass, no febreze, no fishing etc)

 

[enrgizerbunny]

Richmond Aquarium has a very similar business as what you describe. Choose your market carefully. Along with experience running a fish store, your market (location) will be your leading factor.

 

[enrgizerbunny]

I'd suggest separating any in home services offered from your store, there are way to many variables that come into play, you could be the best tank maintainer on the planet and the cleaning lady sprays some febreeze in the room and boom.. Fishy apocalypse, all it takes these days is a few nasty write ups on google and your sunk. Not saying to forget the idea entirely just to shield yourself from any possible negative blow back!

This. You have to take this into account. Someone reads a review "Well they were maintaining my tank and all my fish died" looks terrible.

I think it would work for high end aquariums where the owner has invested a substantial amount of money, understands the requirements, but doesn't want to do the physical work. For example the doctor's office with the 125 saltwater filled with expensive fish.

 

[nikkiglass]

Thanks everyone. Sometimes people come up with an idea and fall in love with it and is blinded by it. I didn't consider separating the home services from my business. Valid I'd point with the negative ratings keeping me from prospering. Now that I think about it I should probably only offer it to high end fishtanks such as doctors offices. And the classes would be for those who would be maintaining the tanks themselves.

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[Krissycakes]

My boss at my LFS builds and supplies many different accounts with maintenance and replacements. Not sure how he does it with Petco just down the road.

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[herp_mommy]

1. List three things that you liked about my product/services described in my statement.
You have several services and products- everything all the successful LFS have in my area. The in-home services can easily be a part of your retail business. I'm not sure if you've taken any classes on contracts, but a good business will have anyone who signs up for their services sign a contract. Typically, you would mention there that "the cleaning lady causing death of all fish is not our fault" (but in more professional terms obviously)
2. Provide three suggestions for making the idea better.
1- You'll have to start small, unless you're ready to take out a massive loan, and 2- most marine biology degrees are an MS degree (not many schools offer a concentrated BS) so 3- keep 6 years (assuming average typical course load) of school loans in mind.
3. Do you think my idea is realistic? Why or why not?
Anything is realistic- as long as you expect to work for it
4. Would you, as my potential customer, buy my products and services? Why or why not?
Yes, assuming you were local of course. I visit my LFS about twice a week- not to always buy, but I feel so welcomed there and I might learn a thing or two just by hanging around and talking to employees and other customers, people are also more receptive to advice in person.
5. If you would buy it, how much would you pay for it?
Buy what? Your retail mark up highly depends on your competition. For example, I use prime, but I buy it at my large chain store because it's $5 cheaper there.
6. Please provide any comments or suggestions you think would be helpful.
Research, Research, Research. Formal education is not the only path for learning. I suggest you talk to people in the real world who have worked hard to be successful- anyone you think might be able to offer you experience and advice, even the people you DON'T think can help you. Definitely work in the industry before diving into it. And for down the road- be careful who you hire.

sources- Marine biology student and employee at family business (not aquarium related unfortunately...)

Hope this helps

 

[Alan26]

Lots of good advice here, esp. from herp_mommy
You have a lot of moving parts there, and getting all of that running and established will take a lot of time and even more money. Your biggest problem may be finding good help that will stick around.
You may need to start small and add on as you become established and successful in the building block (core/essential to profit) areas.
As for using your products/services/store…if you’re the cheapest…with where you would be located that would have to include shipping.
The classes are a good idea, but think about offering them as a free, open topic, maybe one short planned presentation, etc. type of thing…at least to start out.

 

[Ian086]

All excellent advice but the first thing you need to do, is find out if you REALLY want to do this for a living. I have no doubt you would make a good go at it but it also, as mentioned, depends on a few factors. Hard work, good planning and a bit of luck. The best step forward for you now is to get some work experience in the services you wish to offer. There is nothing to beat experience and it will really help you understand if it's something you want to do as a career. Enjoying your own tank is one thing but being around them 8-12 hours a day maybe another. I wish you luck but as I said try and get that work experience.....

 

[J.Mcpeak]

1. List three things that you liked about my product/services described in my statement.
You have several services and products- everything all the successful LFS have in my area. The in-home services can easily be a part of your retail business. I'm not sure if you've taken any classes on contracts, but a good business will have anyone who signs up for their services sign a contract. Typically, you would mention there that "the cleaning lady causing death of all fish is not our fault" (but in more professional terms obviously)
2. Provide three suggestions for making the idea better.
1- You'll have to start small, unless you're ready to take out a massive loan, and 2- most marine biology degrees are an MS degree (not many schools offer a concentrated BS) so 3- keep 6 years (assuming average typical course load) of school loans in mind.
3. Do you think my idea is realistic? Why or why not?
Anything is realistic- as long as you expect to work for it
4. Would you, as my potential customer, buy my products and services? Why or why not?
Yes, assuming you were local of course. I visit my LFS about twice a week- not to always buy, but I feel so welcomed there and I might learn a thing or two just by hanging around and talking to employees and other customers, people are also more receptive to advice in person.
5. If you would buy it, how much would you pay for it?
Buy what? Your retail mark up highly depends on your competition. For example, I use prime, but I buy it at my large chain store because it's $5 cheaper there.
6. Please provide any comments or suggestions you think would be helpful.
Research, Research, Research. Formal education is not the only path for learning. I suggest you talk to people in the real world who have worked hard to be successful- anyone you think might be able to offer you experience and advice, even the people you DON'T think can help you. Definitely work in the industry before diving into it. And for down the road- be careful who you hire.

sources- Marine biology student and employee at family business (not aquarium related unfortunately...)

Hope this helps

The end of point one is very good! I also like point three, that is very true.

All excellent advice but the first thing you need to do, is find out if you REALLY want to do this for a living. Enjoying your own tank is one thing but being around them 8-12 hours a day maybe another. I wish you luck but as I said try and get that work experience.....

I ended up doing it for a living and it's non profitable!
Somedays I spend that amount of time tending to my stuff.

(If you love what you are doing time is of little importance)

If you can make money out of something you love, enough to live on, then that is commendable. (Very few people achieve that in a lifetime)

Talk to people who have done it, Andy sager is here (hope you don't mind the mention) I'm sure he would have some excellent information that will be of use. Maybe even a few links to "the right people"

 

[Andy Sager]

I can't say enough positive things about the the idea of working IN the business before owning one. It's the best way to get into any business. I have worked in every aspect of the fish business in order to find my "calling". From collecting the fish, shipping the fish, wholesaling, retailing, importing and exporting. I worked at each for a minimum of 3 years so I really knew what I was getting in to before I got into it. I have owned every type of these businesses except for 1 type: Retail Pet Shop, and I have worked in many of them. I'm a "Fish Guy" and the retail pet shop is not about liking fish. In fact, it's not always about liking the animals you sell. If you do, that's a plus but not a prerequisite. My knowledge of and experience with these animals ( I've had pets ranging from house pets, reptile pets, bird pets, fish pets as well as Monkeys for pets) is what made me a desirable employee NOT a good Pet Shop owner. Most hobbyists, I've found, that open a fish store, generally don't last. It's a business and needs to be treated that way. Many of my customers in my wholesale house were shops that were in business for many, many years because they knew the business not because they new the fish. Trust me, I needed to educate many of my customers on the fish they were getting.
Me, I'm a fish breeder. It's what I like to do most and do very well with ( he says modestly ) because I know the fish. They are my passion in life. You may turn out to be a wizard in the business world with this venture, but you won't get that way if you don't know about the business of pet keeping. Again, get some practical experience first.

Just my added 2 cents

 

[Ian086]

I can't say enough positive things about the the idea of working IN the business before owning one. It's the best way to get into any business. I have worked in every aspect of the fish business in order to find my "calling". From collecting the fish, shipping the fish, wholesaling, retailing, importing and exporting. I worked at each for a minimum of 3 years so I really knew what I was getting in to before I got into it. I have owned every type of these businesses except for 1 type: Retail Pet Shop, and I have worked in many of them. I'm a "Fish Guy" and the retail pet shop is not about liking fish. In fact, it's not always about liking the animals you sell. If you do, that's a plus but not a prerequisite. My knowledge of and experience with these animals ( I've had pets ranging from house pets, reptile pets, bird pets, fish pets as well as Monkeys for pets) is what made me a desirable employee NOT a good Pet Shop owner. Most hobbyists, I've found, that open a fish store, generally don't last. It's a business and needs to be treated that way. Many of my customers in my wholesale house were shops that were in business for many, many years because they knew the business not because they new the fish. Trust me, I needed to educate many of my customers on the fish they were getting.
Me, I'm a fish breeder. It's what I like to do most and do very well with ( he says modestly ) because I know the fish. They are my passion in life. You may turn out to be a wizard in the business world with this venture, but you won't get that way if you don't know about the business of pet keeping. Again, get some practical experience first.

Just my added 2 cents

Excellent advice Andy...