Come on be HONEST! Who has...

revhtree · May 6, 2012

Don't lie who has had "champagne wishes and caviar dreams" of opening a fish and coral store?

Let me say that it is not something that I would advise people to do. I have never ran one but I know enough people who have. It's takes a lot of FULL time work, patience, and know how to be successful. Not to mention the capital to be able to get started and to sustain the "nice" fish and coral needed to drive customers to your store or website.

Don't get me wrong it can be very successful and profiting. It can be fun and exciting. But most fall flat on their face not ever realizing what it really takes to do the job. I admire the guys who do it and are successful.

But that is not what this thread is about.

This thread is simply me wondering how many of you have ever thought about it? I have. Of course that was early on in my reefing career before I knew better! LOL!

What about you? Be honest! :tongue:

Akwarius · May 7, 2012

Rinky-dink fish stores are usually a bust, but there is a huge market for reef tank setups and maintenance. There is a local store in Tucson who finally understood the market for this and has expanded to two locations in barely over two years of business. They even bought out the competition!

bige · May 7, 2012

I have. I see the problems and know I could do it right. The problem for me is, the best one in town is down the street. So I would have to go far from my house to open. Have talked to owner about buying him out but he has promised ownership to a 10 year employee. Have also talked to that same owner about buying the lot behind him (which he owns) and building a grow out facility. The problem with that is, he can get coral cheaper than I can offer. But I won't give up. Things change.

dankreef · May 7, 2012

I think it would take the fun out of it when you have to do it as job.

Saltgator · May 7, 2012

I have as well. My sole purpose was to provide " home grown coral " and tank bred fish. I wanted to be able to special order any fish for anyone, but I'd like to be able to bring someone a tang that hasn't seen the ocean, and would be more adapt to our glass boxes, and many other fish that we love that would keep our oceans thriving and us happy at the same time. Wishful thinking but I'll be able to retire fairly young (@ 43 yrs old, currently 31) and would live to buy a warehouse off the beaten path and dedicate my time to providing for the hobby. We'll see.

AZDesertRat · May 7, 2012

Not me. One of my best friends owns the LFS closest to me and seeing his struggles over the last 20 years tainted me. In Phoenix I have seen probably 25 or 30 good, clean and honest LFS come and go in my 30 year hobby and its sad to see. Even before the internet and online shopping it was a struggle with the mail order pet shops, today its about impossible since many of the wholesalers compete directly against the clients they depend on? Stupid business model but unfortunately very real.

Knight_Fall · May 7, 2012

I haven't thought of opening a fish store exactly, but i would like to reach a point in my reefing where it would be possible to supplement my income. i think running an actual fish store would take some of the joy out of maintaining one at home. i wouldn't mind cutting or breaking up a fewer of my nicer pieces for a little extra money to feed this addiction......

Ace25 · May 7, 2012

I helped setup a LFS and worked there the first 6 months to help them get on there feet. It is SO MUCH WORK and $$$$$. I left when I saw the owner and staff getting burned out already (and I couldn't blame them) and started to not take nearly as good of care for their livestock as they started out to do. That experience was enough for me to never even consider trying something like that myself. I like the hobby... as a hobby. It is enjoyable for me. Turn it into a business where my livelihood is at stake, first thing to go would probably be my home aquariums, and I just can't have that. I have never made a dime off this hobby, but I have spent well over $50k in my lifetime on the hobby and I am still happy and find the hobby incredibly rewarding.

cdness · May 7, 2012

Fragging and grow out yes. Fish store itself would be a no.

The local owner of our LFS had a really nice tank at home. The store was only partial saltwater. He has since converted the whole aquatic section to saltwater. In time he lost interest in his own tank as maintaining saltwater stuff was his job as well as his hobby. By losing interest he lost many of his corals at home, but had a thriving system at the store. He very recently tore down his tank and home, sold all the hardware, and has no plans to set up another tank at home.

There is something to be said about making a business out of something you love to do as a hobby... You end up losing the hobby side and become all business. The hobby just isn't the hobby anymore.

fish doctor · May 7, 2012

done it 34years and counting
seen the hobby change for good and bad
watched a lot of stores come and go and people lose there life savings
its not for the weak or hobbist

gooch · May 7, 2012

Did it, got burned out, lost a ton of money, made a lot of mistakes, regretted it.

Would I do it again? I always say no. But you never know. I have a store in town I like and like to support and have no desire to compete against them. If they would close years from now I may consider it down the road but right now that is not an option. After eleven years in this industry I have made a lot of contacts and friends so I might have a slight advantage over others thinking the same thing but I would want my store to be upscale and unfortunately Green Bay Wi could never support it. So I am 99.7 percent positive that it would never happen.

MattL22 · May 7, 2012

Unless ur in a city doing big time maintenance jobs I would imagine it would be very very tough to turn a profit! If you own a Lfs and have a family your looking at thousands a month just too pay ur family's medical ! Then hopefully ur able to put a bit into a 401k or something then you have too pay yourself and employees! Not to even get into the overhead costs! Idk rather keep my job if my tank grows out enough maybe become vendor on local Fourm sell high end sps / zoa/ paly but wouldn't do brick and mortar store!

MattL22 · May 7, 2012

I just don't think there r enough reefers around too support the stores! If I did for some crazy reason get involved in it the store would also do dog/cat grooming,walking, obviously food and supplies basically a pet store with a great salt water section!

frugner · May 7, 2012

my friends have been building a lfs for the last month, it's about 75% done. they have years in the maintenance and tank building side and are collaborating to create a lfs.

Wy Renegade · May 7, 2012

Considered it strongly when a local buddy sold the only viable LFS in town, but decided I just can't afford to lose my retirement at this point. However I may consider it again when I retire here in a few years.

privitor · May 9, 2012

My Vision

I been lurking but had to register for this question

Of course like most people it is my personal dream to have a store.

People say that you loose the passion but i dont think i would. Give me the change to finally have a carreer doing something i love instead of doing a job i hate and im all over that. Most people hate their jobs, so why not enjoy going to work everyday.

In thses post you say new owners break down there personal tanks, So what? At home my wife only lets me have a small reef tank. If i open a store i would build a multi hundred gallon tank that i can share with my friends and customers so i dont see a down side to that.

Unlike some of you that are in Arizona or Green Bay, Im in Florida where there is a demand for tank maintenance and access to nearby suppliers.

I would focus on more of the coral farming and fish breeding side of the business since this is the future of the hobby. Also i think to thing to do to succeed in the business is to innovate the market With something new. The companies that fail try to just sell stuff. You will never make it just selling stuff. If i open my business i would design new equipment with my name on it or try cross breeding like ORA did with the white clown fish!

And lastly i have a big problem with my LFS cause they are really the only store in tow so their prices are ridiculousness but they can charge what they want cause the only real computing is like 2 county away! I have found out that they are making an annual revune of between 500k and 1.5m per year. I dont know what there operation cost is but there has to be some profit at even 500k annually.