Thinking about opening a lfs

[ReefLord]

This is a stick up! Start bagging those rastas one by one... Don't be stingy on the water!

 

[saltwaterinbrooklyn]

Don't stall me fat boy !! I want every lobo , scoly , and Hanna checker in the bag right now!!!

 

[zenfish]

I've been in the fish business for 25 years, I have worked for every major aquarium shop in Brooklyn & Manhattan... it's a dead business. It is literally dead. Internet killed the LFS.

First time business owner that basically knows ZERO about the pet store business?

Save your money and your sanity.

 

[stbarnabas]

It may be funny for you or you can make fun of it .. But for me as victim it doesn't Sounds good .. I'm just glad it didn't happen to you all .. Good luck

 

[zenfish]

It may be funny for you or you can make fun of it .. But for me as victim it doesn't Sounds good .. I'm just glad it didn't happen to you all .. Good luck

I don't think it is funny at all. I had a good service business for quite a few years but never wanted to carry livestock for that exact reason. Did not want anyone coming to my house, my garage, or anything like that.

 

[dnov99]

I've been in the fish business for 25 years, I have worked for every major aquarium shop in Brooklyn & Manhattan... it's a dead business. It is literally dead. Internet killed the LFS.

First time business owner that basically knows ZERO about the pet store business?

Save your money and your sanity.

I agree with this 100%. IMO save your money and look for another business to invest in.

 

[Dan_P]

Myself and a friend of mine are thinking about opening a lfs. This is just a idea and we're just brainstorming. Upstate where I am located there are no lfs besides your petco and petsmart. For dry goods we/you can always go to the reliable Russ at saltwater critters, but for livestock you have to travel at least a hour to max reefs in Yonkers or 45 minutes to fishtown in Paramus nj. Now we all know for a good deal people will travel. I am a living example of that. I travel all around the city for good deals and rare finds. Not that I want to put wear and tear on my car, or be away from my family for periods of time while I'm stuck in NYC traffic but I am a hobbyist and I love this hobby so that's what I do. Being the fact this is just a thought I am looking for feedback, advice, personal knowledge, etc. I have never owned a business before so I have no knowledge whatsoever. I did study accounting in school so I am great with numbers. I know it can't be as easy as finding a location, setting tanks up, buying some fish and then waa lah. There has to be start up costs, insurance, electricity, water, shipping, death. Just things that need to be taken in consideration. Thanks for your help and suggestions. This is not a dream. It can be done if chosen to do. This is more of should we or shouldn't we. I would hate to lose love for this hobby just on a idea

Pros
-big life accomplisment, very rewarding, it is one of the big the American dreams
-exteme challenge, no safety gear
-potentially financially rewarding

Con's
-high probability of failure, total investment lost
-very stressful to you, family, friends and the dog
-no free time
-your selfworth and identity may become indistiguishable from the business, you will eat and sleep LFS

Should you? If "pros" are emotionally more than 2x greater than "cons", go for it. If you have enough money. Most business start ups fail because they are under capitalized. They don't have enough cash to survive until the business becomes viable. If you have an "angle" different from every other LFS. Location may not be so important. If a rather elite hobby really needs another generic vendor. As much as reef keeping seems so pervasive to us, it is still a niche business that is not catching on like smart phones.

You might try working in a LFS for a month or two to see what it is like.

Good luck!

 

[reefer4eva]

You also have to take into consideration of supply and demand...as this might work out in a small community where there are many interest in this hobby within a 10-20 mile radius.also keep in mind that not many want to travel far even for that rare coral or even a great deal,I myself passed up on free stuff just cause of the time traveled to get it and we all know time is money!

 

[tttony]

Is it worth it to mark up livestock 20-50% after the set up of a actual store front ? Better of getting a few orders transshippeed and meet with a few wholesalers and even if you can
Make a dime flipping fish/ coral

 

[Lenny718]

Don't do it! I learned my lesson lol. You'll do great the first few months cause your the new show in town but it will die down and you'll regret it. Don't rely on MR for customers they always want to get something for nothing and if your competitor is 25 cents cheaper they will not give you there business and probably bad mouth you on the fourm lol. Also it's very cut throat, you have to price match or practically sell for cost to keep up with other vendors and stealth vendors. Enjoy the hobby put the money in your tank not a store!

 

[piranhapat]

I think it's a tough business to get into. If money isn't a issue than go for it. I believe location is important for LFS. I don't think online hurt the LFS. The online store has what people are looking to buy. Where LFS isn't stock and prices are twice as much. Plus LFS has hard time keeping up with demand. Causing people to looking else where like online where they would find it. You would need a very good wholesale and healthy stock. The market is demanding more and more where LFS just can't keep up. I just got back from Turks and a lot of people love snorkeling and diving. Which means at least half would have some kind of aquarium. Bottom line most LFS that are successful have services that take care of people or business Aquariums. Only way I see to be successful in this business is if your not paying rent. Your over head is low and your not relying on business to support your family. It's a rich man hobby and you need right connections.

 

[lnevo]

You should open a steakhouse. Setup a section easily blocked off for private parties and VIP guests and put a massive tank in there. You got tttony can do all the fancy woodwork for you

 

[Aquarium Village]

I say go for it, you only live once

 

[thirty6]

You should open a steakhouse. Setup a section easily blocked off for private parties and VIP guests and put a massive tank in there. You got tttony can do all the fancy woodwork for you

Cool idea

 

[Arati]

come down and work at the store for a few weeks and that should be enough to open your eye's to the reality of it. pm me if you want

 

[zenfish]

I think it's a tough business to get into. If money isn't a issue than go for it. I believe location is important for LFS. I don't think online hurt the LFS. The online store has what people are looking to buy. Where LFS isn't stock and prices are twice as much. Plus LFS has hard time keeping up with demand. Causing people to looking else where like online where they would find it. You would need a very good wholesale and healthy stock. The market is demanding more and more where LFS just can't keep up. I just got back from Turks and a lot of people love snorkeling and diving. Which means at least half would have some kind of aquarium. Bottom line most LFS that are successful have services that take care of people or business Aquariums. Only way I see to be successful in this business is if your not paying rent. Your over head is low and your not relying on business to support your family. It's a rich man hobby and you need right connections.

nah, the LFS was killed by the internet, by wholesalers who allow Tom, ****, and Harry without a store to buy stuff at wholesale, and the shippers who sell to "vendors" without a store-front, etc etc... it's very basic.

Prices are twice as high in an LFS because internet "stores", owned by corporations, are buying in massive volume, making a tiny profit, and putting every mom and pop store out of business.