I’ve been in this hobby since I was a kid - more than 35 years ago. I used to own a small freshwater tropical fish hatchery in central Europe, and breed some fish here, as well, including marine clown fish, in 1994 and ‘95. Well, my education is in IT (Internet), but I still work with aquatics (presently, marine invertebrates) and always wanted to have a B&M aquarium store.. Lately, I am thinking more and more of opening one. An online store is nice (less financial risk involved), but I like to talk to people, to interact more directly. I used to work at such a store, for two years, about 15 years ago, in Redmond, WA, and loved it. That one has closed, in the mid ‘90s, and others around here. However, some new ones opened, and I think they don’t do that bad -they’ve been in business for over 10 years now, and seem to be doing well. My question is: can one make a decent living owning an aquarium store? I am not under the illusion that one gets rich with such enterprise - I only want to make a decent living; you know, pay the mortgage, and have enough left for ends meat. Is that doable? I always wished one, since I was in my 20's, but never took that step. Should I be careful what I wish for? Any input from you guys will be really appreciated. Thank you.
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Can one make a decent living owning an aquarium store?
- Thread starter mushroomcorals
- Start date
I also have been thinking the same thing. My plan would be to offer low prices period! There is only one other LFS in the neighboring city with a limited amount of stock. The only thing that stops me is the risk of failure and amount of capital that I need.
I don’t know if I want to base my business solely on low prices. Also, no matter how big a fish store is, it’s still going to be somewhat limited to stock, so I would base my business on quality stock and good customer service rather than on a high number of species and cheap prices. A relatively small size store (max 2000 square feet) that offers healthy specimens and great service is what I have in mind.
I hope that folks with this kind of experience will eventually be kind enough to offer their thoughts on this issue - negatives or positives, I don’t care. I just want to hear some qualified opinions. Thank you.
I hope that folks with this kind of experience will eventually be kind enough to offer their thoughts on this issue - negatives or positives, I don’t care. I just want to hear some qualified opinions. Thank you.
PRICE SERVICE QUALITY
There's a business addage that states that a business can offer it's customers only two of the three at any time. One always is sacraficed for the other two.
First, in this environment with MO and the big guys cornering the market, my advice to you would be to raise you customer service standards above the rest and maintain superior quality livestock.
Second, understand and appreciate the fact that location is paramount. You may be successful on some side street in a warehouse tucked away from mainstream retail businesses, but establish yourself in a town/city with no demand for your services and you are doomed from the start.
And keep a clean store.
But to answer your question, YES, it is possible to make a good living in this industry.
There's a business addage that states that a business can offer it's customers only two of the three at any time. One always is sacraficed for the other two.
First, in this environment with MO and the big guys cornering the market, my advice to you would be to raise you customer service standards above the rest and maintain superior quality livestock.
Second, understand and appreciate the fact that location is paramount. You may be successful on some side street in a warehouse tucked away from mainstream retail businesses, but establish yourself in a town/city with no demand for your services and you are doomed from the start.
And keep a clean store.
But to answer your question, YES, it is possible to make a good living in this industry.
Some issues I see in this industry, is that if you want to run a pet store, and make good money, hire employees that don't know what they are doing, that way they can't spend time helping the customers, and they will tell the customers to buy this bottle, or buy another bottle to fix their problem, and yes you can mix that fish with this fish, and no this fish won't get any bigger.
That's not the way I run my store, but it is the way many stores are run. And customers fall for the other store model over and over, just like a dog returns to it's vomit.
I also get tired of spending time with customers explaining things to them, when they will often use up lots of my time getting advice so that they can walk out and use that advice to buy mail order.
Remember the mom and pop hardware stores?
Wayne Sallee
Wayne's Pets
[email protected]
That's not the way I run my store, but it is the way many stores are run. And customers fall for the other store model over and over, just like a dog returns to it's vomit.
I also get tired of spending time with customers explaining things to them, when they will often use up lots of my time getting advice so that they can walk out and use that advice to buy mail order.
Remember the mom and pop hardware stores?
Wayne Sallee
Wayne's Pets
[email protected]
Thank you, Rascal - high standards customer service and quality live stock is exactly what I intend to do. The importance about location it is, indeed, very important to success.
What do you think about specialized items type of store, like either exclusive marine or freshwater and live aquatic plants? Should that help with standing apart from the “Big Guys” who focuses more on freshwater bred-and-butter? Or should I carry both, but higher quality and better service? Thank you.
What do you think about specialized items type of store, like either exclusive marine or freshwater and live aquatic plants? Should that help with standing apart from the “Big Guys” who focuses more on freshwater bred-and-butter? Or should I carry both, but higher quality and better service? Thank you.
Mushroomcorals,
I think it is getting harder to make a decent living in the biz. The wholesale distribution chain has been broken down and many wholesalers will sell freely to almost anyone. Many dropship for certain etailers so they can offer livestock to your customers at less cost than you can tank and house it. Many manufacturers also dropship for etailers. The general public seems to be buying more and more via the net. The big boxes also take a sizeable chunk out of the supplies end of the biz. There are also conservation issues that may effect livestock supply in the near future. I think it can still be done, but it would have been a lot easier 10-years ago. There are so many unknowns that it would have to be considered a risk. If you really want to then go ahead and give it a try, you seem to have the right stuff to make it work. Good luck.
Mitch
I think it is getting harder to make a decent living in the biz. The wholesale distribution chain has been broken down and many wholesalers will sell freely to almost anyone. Many dropship for certain etailers so they can offer livestock to your customers at less cost than you can tank and house it. Many manufacturers also dropship for etailers. The general public seems to be buying more and more via the net. The big boxes also take a sizeable chunk out of the supplies end of the biz. There are also conservation issues that may effect livestock supply in the near future. I think it can still be done, but it would have been a lot easier 10-years ago. There are so many unknowns that it would have to be considered a risk. If you really want to then go ahead and give it a try, you seem to have the right stuff to make it work. Good luck.
Mitch
Thank you Wayne Sallee - I don’t intend to have a pet store. I have only marginal experience with other animals, and I find it overwhelming to handle a multi-speciality store. Others can do it with no problems, but I like to exclusively focus on what I love to do - aquatics. I understand your frustration about some customers who come into ones store just to pick ones mind, and go someplace else to shop, like MOs. Some things can not be changed, so I’ll try to improve things where I can and have control over. Good luck to you.
What size store do you have, and what do you think about specializing? Thank you.
What size store do you have, and what do you think about specializing? Thank you.
Again, you are going to have to consider the needs of your particular demographic. Hobbyista are becoming more and more savvy and know where the best pricing is. That can drive you crazy and really distract you if you let it. My advice is to get a firm grasp on hte idea that you aren't in business to satisfy EVERYONE. Pick a target audience and go after them.
My specialty was/is (I am in the process of getting out of my business currently) high-end custom aquariums. I am good at it, I've established a name over the years, and it's very profitable. And this aspect I could have been (and will be) doing out of my house for the last 10 years. Unfortunately, the store that went along with it came with a high price and the overhead sucked up a lot of those profits. The reality is there are just too many stores locally competing for the same piece of pie.
I would suggest you contact your potential dry goods suppliers and see if they can assist you with their product offerings and pricing. For standard supplies (tanks,lights, chemicals, etc.) you really are at their mercy. Realize though that the truck that delivers to you once a week likely delivers to everyone else in town as well.
Also, look at the demand and the supply of freshwater. Most of the stores in my area have scaled back in that dept. because of the Petsmart/PetSuperMarkets et.al. Only the store with a seasoned clientele continue with their freshwater offerings.
My specialty was/is (I am in the process of getting out of my business currently) high-end custom aquariums. I am good at it, I've established a name over the years, and it's very profitable. And this aspect I could have been (and will be) doing out of my house for the last 10 years. Unfortunately, the store that went along with it came with a high price and the overhead sucked up a lot of those profits. The reality is there are just too many stores locally competing for the same piece of pie.
I would suggest you contact your potential dry goods suppliers and see if they can assist you with their product offerings and pricing. For standard supplies (tanks,lights, chemicals, etc.) you really are at their mercy. Realize though that the truck that delivers to you once a week likely delivers to everyone else in town as well.
Also, look at the demand and the supply of freshwater. Most of the stores in my area have scaled back in that dept. because of the Petsmart/PetSuperMarkets et.al. Only the store with a seasoned clientele continue with their freshwater offerings.
mushroomcorals":au6ewroe said:Thank you Wayne Sallee - I don’t intend to have a pet store. I have only marginal experience with other animals, and I find it overwhelming to handle a multi-speciality store. Others can do it with no problems, but I like to exclusively focus on what I love to do - aquatics. I understand your frustration about some customers who come into ones store just to pick ones mind, and go someplace else to shop, like MOs. Some things can not be changed, so I’ll try to improve things where I can and have control over. Good luck to you.
What size store do you have, and what do you think about specializing? Thank you.
Even though the name of my store is "Wayne's Pets", it's mainly aquatics.
Specializing has it's benefits, and drawbacks. It would probably be best for you to specialize.
Wayne Sallee
Wayne's Pets
[email protected]
Rascal":9ue59i2s said:My advice is to get a firm grasp on hte idea that you aren't in business to satisfy EVERYONE. Pick a target audience and go after them.
Rascal, it is exactly what I would do.
Rascal":9ue59i2s said:My specialty was/is (I am in the process of getting out of my business currently) high-end custom aquariums. I am good at it, I've established a name over the years, and it's very profitable. And this aspect I could have been (and will be) doing out of my house for the last 10 years. Unfortunately, the store that went along with it came with a high price and the overhead sucked up a lot of those profits. The reality is there are just too many stores locally competing for the same piece of pie.
I understand, but do you feel that your store helped you get the customers for the high-end custom aquariums? Do you think that you would have gotten your present number of aquarium accounts out of your home office, without having a storefront? Personally, I always thought that a store helps substantially to acquire this kind of jobs. Thank you.
Dizzy, thanks a lot for your input. I understand what you are saying, and know the issues very well. We now live in an interesting transition time, where business as we know it is diversifying. Internet mail order, drop-ship, etc, it is here to stay, and it will not go away. We all have different opinions about this, but its just the way it is. I still like to directly interact with people. However, as we everything in life, to survive, one has to adapt. Thanks for your advice and encouragement.
WayneSallee":bwasdgz0 said:Even though the name of my store is "Wayne's Pets", it's mainly aquatics.
Specializing has it's benefits, and drawbacks. It would probably be best for you to specialize.
WayneSallee, thank you for the info. Can you, please, name some of the benefits and drawback of specializing? Thank you.
My store was an absolute requisite for my success...for a number of reasons.
My store helped greatly with that initial impetus of a customer base. It is pretty easy to generate 'new' customers in the first year or so, kind of like 'new restaurant syndrome'. It's important that you ride that wave as long as you can, and if you are fortunate enough to succeed you will transition to the next phase without a blink.
My store allowed me to diversify into three separate and distinct divisions within my business - retail, maintenance, and custom aquarium installation. This is where it got a little funky. I like to be challenged, and the custom aquarium division was my baby. It took roughly 10 years to establish the reputation I have at this point, and like I said before I am now in the process of separating myself from the regular retail side of the business (which includes the storefront). The reality though is that the custom aquarium side was ZERO part of my original business plan...the retail was.
Where are you considering opening your business?
My store helped greatly with that initial impetus of a customer base. It is pretty easy to generate 'new' customers in the first year or so, kind of like 'new restaurant syndrome'. It's important that you ride that wave as long as you can, and if you are fortunate enough to succeed you will transition to the next phase without a blink.
My store allowed me to diversify into three separate and distinct divisions within my business - retail, maintenance, and custom aquarium installation. This is where it got a little funky. I like to be challenged, and the custom aquarium division was my baby. It took roughly 10 years to establish the reputation I have at this point, and like I said before I am now in the process of separating myself from the regular retail side of the business (which includes the storefront). The reality though is that the custom aquarium side was ZERO part of my original business plan...the retail was.
Where are you considering opening your business?
Rascal - Thank you for your advice. I am interested about the aquarium installation and maintenance aspect. I've done it before, while in College, and kept a few accounts that I really loved (beautiful aquariums, and very nice people - best combination). But now I wish to finally open my own store. Personally, I don’t feel getting into the proverbial “rat race,” since I really enjoy what I do. I will definitely offer aquarium installation and maintenance, since I am already doing it (at a very small level, though), and like it. I live on the west coast - Seattle area.
Aquarium service was a key component of my business, and is likely responsible for my ability to land many of our custom aquarium accts. We peaked with 4 employees in our service department, which sounds impressive but was an achilles heel as well. My store was located 1/4 of a mile from the ocean and when the surf was up I would expect at least some of my staff not to show up. It got to be so predictable that if it was a really good swell I would call my clients up the night before to reschedule their cleaning. Employees make things tough, but definitely a necessary evil.
The custom aquarium end of the business evolved out of nothing. It was just one of those things where I enjoyed that aspect of the business, like to be challenged with new designs, am savvy re: construction techniques, and basically put a really nice tank together. That is the side of the business I am holding onto as it is the most rewarding to me, including financially. I attached one of my aquariums, a 1300 gal reef.
The custom aquarium end of the business evolved out of nothing. It was just one of those things where I enjoyed that aspect of the business, like to be challenged with new designs, am savvy re: construction techniques, and basically put a really nice tank together. That is the side of the business I am holding onto as it is the most rewarding to me, including financially. I attached one of my aquariums, a 1300 gal reef.
the only bit of advice i would give is this,seperate the business from your hobby. it is very easy to use the business as a way to expand your personal tanks and treating the business like it is a hobby will get you in trouble. don't fill your tanks with the livestock you like, fill them what will sell. don't start giving friends special discounts because it will never stop.i would go so far as to get rid of all your personal stuff before you open so you can focus on what needs to be done with the store. i opened an angelfish breeding operation with a partner years ago and learned this little lesson the hard way.
mushroomcorals":33ppr7in said:WayneSallee":33ppr7in said:Even though the name of my store is "Wayne's Pets", it's mainly aquatics.
Specializing has it's benefits, and drawbacks. It would probably be best for you to specialize.
WayneSallee, thank you for the info. Can you, please, name some of the benefits and drawback of specializing? Thank you.
One advantage of specializing, is that you can be the best in that area.
On advantage of being a full line pet store, is that wholesalers are happy to be able to sell you more things, and manufactures reps will give you more attention for the same reason.
Wayne Sallee
Wayne's Pets
[email protected]
Local store here used to have the guys at the airport keep tabs on my shipments and would have them photocopy the packing list of what we got in. Only found out about this after a buddy of mine said that they offered him $20 for this info.
If this retailer did business with the same wholesaler they would then call them up and say that they would take their business elswehere if they didnt stop shipping to us. If they didnt do business with the wholesaler they then found a new wholesaler to try out.
If this retailer did business with the same wholesaler they would then call them up and say that they would take their business elswehere if they didnt stop shipping to us. If they didnt do business with the wholesaler they then found a new wholesaler to try out.
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