Considering opening a reef shop in OKC, OK

[k_dog345]

I'm currently living I Florida, but I'm moving back to my home state, Oklahoma soon. Since being in Florida I got into saltwater tanks. So I don't really know the market in Oklahoma.

I have a pretty good idea of what I would want my shop to be like.

So I have some questions

1) how is the market for saltwater tanks in a land locked state like Oklahoma? Is it generally profitable?

2) if I decide to go forward with the idea (it's just an idea right now), what are things to consider? Where should I start?

3) those of you that are in OKC vicinity, how is the reefing community? Is it big? Small? Medium?


Thanks!
Kyle

 

[Duke4Life]

Your not the only 1 that's had this idea lately. I'm moving 2 an area myself that doesn't have much. I'm planning on starting out of my house due 2 the start up cost, a buddy that just opened 1 a year ago locally said he has about 20-30 thousand in just purchasing the tanks and equipment needed.

 

[pelphrey]

I don't have any experience with this, but my local shop doesn't really carry coral because it just isn't a "hot" item. Now if you offer shipping and have an online presence I think this would really help.

 

[MaddyP]

I grew up in OK and spent the fist several years reefing there. The market is good in that a few good stores exist but they are not common. The downside is the hobbyist base is small compared to higher population areas. Okies don't want to spend money on the setups or corals like Californians/Floridians do. If you are to be met with success, Tulsa would be a better area as the population is higher and average income is greater. Tulsans also spend more freely on hobbies.

 

[ReeferBob]

I see aquarium stores go under all the time. I am in the DC Metro area and if we can't support a local store, I think others areas would be worse. Online is probably the way to go, but then you are competing against other, bigger online re-sellers. For online it really comes down to reputation and price. You have neither since you are new and won't have the volume to get price discounts. Not to mention having your website built and managed is probably going to run upwards of $10k-$20k by itself.

It's a tough business. Even tougher to make a decent living from. Are you ready to work 18 hours plus per day for less than minimum wage?

Make yourself a real business plan, or have one done and see where you stand. Having it done is a better idea and probably the best $3k-$5k you will spend in this venture!

 

[stunreefer Verified Sponsor]

LFS are still very viable without an online presence.

Talk to tenured successful store owners. Ask the pertinent questions.

One thing to know about this industry: the clients are not always right. The animals come first, always. If the animals are healthy and happy, your clients will inevitably be happy too.

 

[k_dog345]

Thanks for the feed back guys! I'm taking from this a couple of things

1) having an online presence is good. Thankfully I'm a programmer, so development costs would not be a factor for me as I can easily build and deploy web stuff

2) might be hard work. I'm hoping that it would not be, as I'll continue to be working a full time software job. I've envisioned this potential oppurtunity to be start it up, create a solid maintenence schedule for the tanks documented in a clear way for the people I employ to understand. And then provide assistance where needed and spend the end of my day floating around the shop and making sure all is good

3) Okies may not spend as much money on corals. This is what's drawing me away from this potential venture. I have some cool ideas for the shop. But I'm scared that the market just won't be there. Id hate to have a huge financial loss diving into this business. I'll have to just heavily consider this, and do my research. Perhaps talk to other store owners when I arrive.

4) big startup costs. Yeah, I expect that. Thankfully there's business loans out there. But hopefully it would be worth it considering point 3.

 

[singleshot]

I live very near Tulsa (10mins) and I know of 4 saltwater stores within 35mins of me, tho I mainly only shop at one. Okc has about 4/5 shops that I know of I'm sure there are more, but from what I've really seen or not seen from them is an online presence, I think online and store front would be great in Okc as almost nothing or very poor ones are all to choose from here.

 

[tonto95]

The rents will be your major obstacle. I have been to some of the stores in dc area and they get pushed out by rising rents. Your location will be the key to sucess.

 

[k_dog345]

I live very near Tulsa (10mins) and I know of 4 saltwater stores within 35mins of me, tho I mainly only shop at one. Okc has about 4/5 shops that I know of I'm sure there are more, but from what I've really seen or not seen from them is an online presence, I think online and store front would be great in Okc as almost nothing or very poor ones are all to choose from here.

Which store do you shop at, and why?

Also, mind responding with the stores you know of that immediately come to mind?

 

[singleshot]

Which store do you shop at, and why?

Also, mind responding with the stores you know of that immediately come to mind?

I shop at Ultimate Reef 95% of the time. I chose them as my main go to LFS cause they are knowledgeable, friendly, have a good selection of fish and corals (common and rare) also carry a wide variety of dry goods. They have tanks to showcase also for those of us always looking to upgrade. From time to time they also have a Q/A with a rep from company talking about new products coming out, last one was a rep from Neptune showing the new apex.The only negative I can say them is they started carrying FW fish/plants I know business wise it's smart. It's just a personal thing but it won't stop me from shopping there.

Now for the ones that come to mind first hand. Ultimate Reef, Advanced Aquatics (2 locations) and Pet Solutions. Hope this helps

 

[Nissota]

Don't forget about Coralguy if in the Tulsa area. it's a small store that started out of a garage but they have amazing displays, knowledge, and great corals.

 

[singleshot]

Don't forget about Coralguy if in the Tulsa area. it's a small store that started out of a garage but they have amazing displays, knowledge, and great corals.

I always seem to forget about the coralguy, I have never been there. Guess I need to make just a special trip to check it out.

 

[Chad82110]

I grew up in OK and spent the fist several years reefing there. The market is good in that a few good stores exist but they are not common. The downside is the hobbyist base is small compared to higher population areas. Okies don't want to spend money on the setups or corals like Californians/Floridians do. If you are to be met with success, Tulsa would be a better area as the population is higher and average income is greater. Tulsans also spend more freely on hobbies.

We have quite a few good shops in Tulsa. You are right the good stuff seems to go fast. I would say somewhere east of Tulsa would be a good idea.

 

[jsker]

Write a business plan. Run the numbers, and if it does not make since with in 5 years do not do retail. You could also think about maintainance, and do sales to clients, then when there is enough client base, start a brink and mortar business

 

[Reef'nOkla]

Which store do you shop at, and why?

Also, mind responding with the stores you know of that immediately come to mind?

I shop at Prestige Worldwide Corals. Great reef only shop, very knowledgeable and super good prices.

 

[singleshot]

I shop at Prestige Worldwide Corals. Great reef only shop, very knowledgeable and super good prices.

Are they open on sundays? I'll be driving back from Texas this weekend and want to stop by there, I've seen their corals on my Facebook feed.

 

[Reef'nOkla]

Are they open on sundays? I'll be driving back from Texas this weekend and want to stop by there, I've seen their corals on my Facebook feed.

Yes they are open till 7 pm on Sundays