A golden ticket?

[evoIX_Reefer]

I really want to consult my fellow reefers if they would take the opportunity if it came up.

I've known a wholesaler for quite sometime and never got into discussion about business propositions because of my schedule. I recently got a new job due to a recent pending layoff.

Come months down the road I find myself servicing an IT HELPDESK of about 1000+ clients. I have to handle these calls, perform call backs, ensure ALL systems and different distribution methods are being received by the client.

So this week I just got really burnt out. Non-stop work and finding myself with work I could not keep track of.


Now comes the twist from the beginning of the story!

We talk about the business proposition and he's gone through this prior and he was screwed by his business partners. He's seen my tank and though it's not the greatest. I have a pretty good understanding of the hobby which can easily translate to entrepreneurship! I've always wanted to be my own boss and work hard to deserve the money in my pocket. Yet, I've never wanted to make that step in certain directions because I did not feel my brain can handle slowing down with analyzing etc from being an IT for 10~ years.


To the question, since it's getting pretty lengthy already. Would you translate your hobby into a business?

I've seen many like knockout kelvin and jason go through this and I think they are doing quite well.

**This would be an online retailer but can sell locally out of the place that we would end up renting. This would also give a much needed great seller in the NNJ area.

Any suggestions or advice would be great!! I have not made up my mind and you can sway my opinion!! In the end, I will always chose what's best for me but some people like 3rd party insight....

 

[Tonyscoots84]

what actually are you trying to do? are you trying to sell livestock (fish and corals) if so for you to lockdown the market your prices would have to be considerably lower then the rest with outrageous livestock quality. just my .02c

 

[Widdy]

You own this IT business? If so, stick with it since it sounds like you're doing quite well. Need a breather? Take an vacation, extend the vacation if need be. The way I see it is, business in this hobby is a true labor of love.

It's WAY appealing to turn this hobby into a business -- on the surface. I can't imagine the expenditure of just keeping "lights on", literally.

Personally, would I take the opportunity? Hell no. I know my worth. I am in IT as well, while it's a down market work is still readily available. Can I make the same amount of money in this hobby? Perhaps, if I was installing 2 new tanks a week in Chappaqua, NY or New Canann, CT. (provided I can a proper job and not get my rear toss down a 200 ft. driveway )

Ask yourself this, can you make the same amount selling corals as you would in IT? And if you could, how much time would it take in comparison?

 

[Chiefmcfuz]

I would stay in IT. The reef biz no where near as stable.

 

[fishman1069]

I always say to myself that if given the opportunity I would love to turn this hobby into a career but I'm in construction and can't find work. Since you are in IT I would say stick with it. Like mention above, its not easy making money off this hobby. There is alot of overhead and tons of competition

 

[tunicata]

Hm, I thought about opening a business about 4 years ago. I started looking at wholesale lists/prices because a friend of mine started ranting about the cost of certain fish and coral before it gets to the LFS.

I was definitely shocked when I saw the wholesale supplier numbers. I then also saw the complications of figuring out the harvesting practices of the original suppliers, getting proper paperwork for shipments, paying for air transport, picking the delivery up from the airport, eating the cost of potential/actual DOA's, selling the livestock in the economic climate and of course, moving as much dry goods as possible.
I though that I could do online sales and local sales, give everyone great prices (esp. those on MR and NJReefers) and still keep afloat because I cut out middlemen where I could, and would not have to worry about a brick and mortar rental space (I lived in a HUGE apt. at the time).

That 'dream' never got off the ground because I knew the financial aspect of it would not be stable regardless of my prices, it was a huge time/effort sink, and the market is saturated with other options. Also, I intended to keep my job while doing it. Most people I know that have some kind of aquarium related business have another career.

I seriously have no idea how someone would survive doing this job as their sole bread winner.

I guess that is a long way of saying that i do not believe setting up your own aquarium business as your only source of income is a golden ticket idea*.

*Unless you do not really need income. I know someone in the business that does this job full time but has a partner that earns enough for their entire family. That person also has a very unique market where...there are no other brick and mortar stores within 100 miles of hers!!!

 

[skene]

I won't sugar coat this... if you are currently unemployed and are not financially stable, have a constant aquarium customer list. This is not the business for you.
If you really like the idea of working in aquaria, you may want to try and work under someone prior to jumping the gun, so you can learn upfront what goes on behind the scenes.
The fun ideas that you can get first picks of anything that comes in the store is enlightening, but you will soon come to the realization that the money brought in is through services. Not through goods or livestock.
So good luck with your endeavors.

 

[thirty6]

id keep the it, and maybe do some aquarium stuff on side

id love you to do it as your very close to my place of biz! risky move imo

 

[evoIX_Reefer]

more comments

 

[Turbovr3six]

While I lived in AZ, I would get corals wholesale, and transshipped. The prices for wholesale aren't as cheap as most suspect. However, Transshipped corals are extremely cheap, but it is a risk every time you buy. The pieces that are in demand are mostly Aussie pieces and they are not cheap, even at a wholesale level.

I would suggest to give it a shot. Don't quit your day job, and do the reef biz on the side. Maybe ask you buddy to let you order a box or two so you can see the process involved, as well as any profit(or lack of) you make. If things work out, then start looking into the proper paperwork to order your own stuff.

And lastly FWIW, while I was doing this out west I had a 600g system to house it all. I also had a 300g of observation tanks and 200g of QT tanks. The way I looked at it was: Anyone can get some liscenses and tanks to sell coral and fish. But if you can sell HEALTHY stuff, people will come back and in most cases pay more for it. :smile:

 

[rambler67]

While I lived in AZ, I would get corals wholesale, and transshipped. The prices for wholesale aren't as cheap as most suspect. However, Transshipped corals are extremely cheap, but it is a risk every time you buy. The pieces that are in demand are mostly Aussie pieces and they are not cheap, even at a wholesale level.

I would suggest to give it a shot. Don't quit your day job, and do the reef biz on the side. Maybe ask you buddy to let you order a box or two so you can see the process involved, as well as any profit(or lack of) you make. If things work out, then start looking into the proper paperwork to order your own stuff.

And lastly FWIW, while I was doing this out west I had a 600g system to house it all. I also had a 300g of observation tanks and 200g of QT tanks. The way I looked at it was: Anyone can get some liscenses and tanks to sell coral and fish. But if you can sell HEALTHY stuff, people will come back and in most cases pay more for it. :smile:

I would have to agree start out trying it on the side if it grow and goes where you want to then go with it from there.

 

[albano]

I would stay in IT. The reef biz no where near as stable.

+1...maybe (big maybe) you can make a little pocket change, but IMO... don't quit your day job!

 

[evoIX_Reefer]

I am almost done with college - I might switch from Network Security to Computer Forensics though so I might have to see what that entails.

**I would not quit my day job. if anything if, big if, I would turn my day job into part-time. 4 day week 32 hours type deal.

Definitely will QT 2-3 weeks prior to placing into available for sale location.

 

[MatthewScars]

I would stay in IT. The reef biz no where near as stable.

Word. I have my main Corp IT job, and a my own side company with clients I do 'stuff' for.

If you're that stressed at work, hire a college kid or someone to help you.

Get your CCNA/CCNP,CCIE and go make some cash as a network admin somewhere. With a Networking background you shouldnt have to do crappy helpdesk bs

 

[lfsmarineguy]

What exactly is the plan for this business and what experience does your potential partner have with it?

As was already said, looking at a wholesale sheet or even worse a transship list can be incredibly deceiving. Those transship lists are subject to CITES permit fees, large shipping fees and that's before they hit California and we have to get them shipped to the east coast. So when you see a Blueface Angel for $25 on a transship list just know that the fish will ultimately cost at least $100 if not more and that's before you add on the cost of running your daily business (utilities, your time, employees time, food, materials, etc...)

Not to discourage you but rather so you don't have that "I love the hobby so running this as a business couldn't be so bad..." dream in your head, there are far more failures than successes (like most industries) in this business and it's hard to know when to not get involved.

 

[tunicata]

Oh, well, if you're going to keep your main job, then...sounds like a better plan to me!

How stable are you in this new job? Would they take kindly to reducing hours?
If you're becoming overwhelmed at work now without reefing as a side job, I guess you'd have to figure out a way to reduce your IT responsibilities. Interns are always fun (though the amount of time, to train and supervise in the beginning, may not feel like a worthwhile effort.

 

[evoIX_Reefer]

I do not own the IT job. I work for a helpdesk for a med lab that is starting up. It was a quick turn around due to a pending layoff. I got job offers in NY but due to time restrictions I could not take it.

I'm 6 courses away from my Bachelors so that is also on the table that would be hard to do a start up business, college, family and a full time job. My son goes to private school and I have to take him to his advanced learning [KUMON, if you have heard of it].

So I am hurt on time but I am willing to pursue even more time from my sleep and flex schedule to make it work if that is my end goal.


Reducing hours would be questionable.

My ideal would be schedule to meet me at the location on week nights and the weekends would be free.

My "partner" used to own his own storefront and servicing. He was unable to keep up due to his own personal issues I won't disclose. He found selling to a specific group of individuals and doing it from home made enough. He already has a customer list but I would be the one to EXPAND on it.

His setup needs some work, better place, better advertisement or place to get more customers and someone he can trust. I've known him for about 2 years.

I don't want to sound racial but he got into trust issues with selling/working with others so he just doesn't deal with it. That's where someone like me that deals with everyone and I can say my track record dealing with everyone on here. I've never left a sour taste in someone's mouth because of how I am.

I will not sell bad quality to others. EVERYONE deserves to be able to trust someone in this questionable world so I think I try to be that guy.

....i think I rant too long.

 

[Chiefmcfuz]

Again, it all sounds good but remember, your stock in the LFS trade is perishable, I would stick with what you are doing and if you are unhappy try to find another job in the field. You can also work computer jobs on the side to make some extra cash. As you grow your own side customer base then you can try to switch over to your own Computer Repair/Setup/making business. It is far more stable. Remember there are computers in some form or another in almost every office and household in the world. There aren't as many fish tanks.

 

[evoIX_Reefer]

^^That is also true. I've always had to deal with politics in the IT world in the 3 years out in the civilian world. Pluses and minuses to everything.


**There is also plans to start a restaurant in the near future but I need something to push a little more money to get that started. So plans plans plans. or should I say dreams?

 

[Chiefmcfuz]

People always need to eat, and if your food is good you will have a good customer base. Remember though that the restaurant business is extremely tough. I have friends that own their own restaurants and they spend 16-18 hrs a day there making sure things are in order.