Start a business

[Darryl Norrell]

Hi I'm thinking about starting a business selling tanks and equipment for reef tanks online I'm needing information on how to go about doing this

 

[Daddy-o]

Do you have a tank running?

 

[kapnkush608]

Do you have a website? I can help you with that. Pm me and we can discuss what you would need to get started for an E-commerce website. I do design, development and hosting.

 

[Devaji]

Hi I'm thinking about starting a business selling tanks and equipment for reef tanks online I'm needing information on how to go about doing this

do it!
not trying to be a dream stealer here BUT your gonna have to bring your A game to compete with stores like BRS, marine depo, saltwater aquarium, aqua cave, etc. but it can be done.
I am sure that is what ppl said about BRS now there the top reef site.

I think you will need to find your niche market. how are you going to stand out?
lots of things to think about. I am sure you have thought all about this.
good luck

 

[HuduVudu]

Hi I'm thinking about starting a business selling tanks and equipment for reef tanks online I'm needing information on how to go about doing this

Make sure you are capitalized and that that capital is money that you can lose.

Just saw that Aquarium Specialty went under, keep that in mind.

Doing a business is an awesome learning experience, but it is expensive. I would say that if you are youngish the money is very well spent even if you lose it. The lessons that you learn will more than pay back over time in better decision making and greater understanding.

Good luck and don't forget marketing is everything.

 

[daybreaksky]

Everything is possible and business plan is key.
it should include at least all the points below:
- Your goal and target market
- sales avenues for distribution - you mentioned online but could be ebay, etsy, walmart, local stores in your state
- overhead such as physical warehouse, storage, staging space (a lot of wholesalers that sell glas for example won't even talk to you unless you have a business location and proper licensing)
- freight and shipping carries and agreements with them
- licensing and proper state registration
- policies on how to deal with warranty issues etc as laws differ between states and need to be handled accordingly
- initial capital
- most importantly, is the profit worth your time, as many items are low margin and require very high volume to compete

just the tip of the iceberg.
I started an online business 4 years ago, in a year i quit my day job and never looked back. + i work for myself - i haven't had a day off in 4 years

 

[Fishingandreefing]

Ooooooh this is going to be a tough one as other mentioned above you gotta compete with a lot of already established business who already offering free shipping and whatever, how you’re standing out?

if you got the funding, building custom made tanks or acrylic tank cover might be a better direction.

a lot of reefers like acrylic lids but two key points that they ended up not buying are

1. Too expensive

2. Too long of wait time

if you can solve the above, it’s a good start to make some money.

 

[Fishingandreefing]

Oh and be prepared, a lot of new business, you don’t make any profit from the first year or two, if you can sustain it.

 

[Darryl Norrell]

I'm looking to sale big name tanks online thru amazon or my on site or something of that nature just looking into it right I still have at least 6 more years in the military

 

[Fishingandreefing]

I'm looking to sale big name tanks online thru amazon or my on site or something of that nature just looking into it right I still have at least 6 more years in the military

Let me ask you this, will this “business” to be your side gig or main income? If you got 6 years to go, I mean there’s a lot of things can happen

 

[Darryl Norrell]

Side gig until I'm out or possibly until I retired if I stay in for 20 yrs

 

[Fishingandreefing]

Side gig until I'm out or possibly until I retired if I stay in for 20 yrs

Are you doing it for the money, fun or both? For those are in the business or know, on average how much of a profit can one make? For example, if a Red Sea sells for $1800, how much actually a retailer paid?

 

[Darryl Norrell]

Are you doing it for the money, fun or both? For those are in the business or know, on average how much of a profit can one make? For example, if a Red Sea sells for $1800, how much actually a retailer paid?

Both really I enjoy the hobby myself but I would also like to make a little extra as well