Could you run your own FS?

[shallowreef]

I don't know if this should be in the water fountain or not so if it is in the wrong spot could a mod please move it. Thanks.


Okay,

So i was on craigslist this morning and i saw a wholesale SW business for sale for 350K and i was wondering how hard it is to run something like that. Then i thought about how hard it would be to run a LFS and if i'd even have the knowledge to open a LFS. I can honestly say that there is no way that i could run my own place at least not at this time. Only because i have to call my LFS at least two times when i get a new fish or coral to ask them a Q. So i am curious do any of you think that you have enough knowledge to open and run a LFS? Money and customers isn't a problem to consider its just do you think you know enough about the hobby and about all the fish that this trade has to offer to help customers? I'm curious to hear what people are going to say. So post if you could or not and say why. If there are any owners on here which i know of at least one post your feelings.

This may seem dumb, but its very quiet this morning and i have no work to do so i am bored out of my mind!

 

[spongebob lover]

A few months a go Jiddy bom bom started a thread about this... i don't know if you wanna read this

http://www.reeffrontiers.com/forums/showthread.php?t=15290

I personally can't run a LFS because of immigration papers , money, and knowledge on everything since i would always try to help or give advice to the customer .

 

[NaH2O]

There is no way I'd own a LFS. Understanding all the various types of equipment would be harsh, because equipment is not my strong suit. Plus, I'd have a hard time carrying stuff I don't believe in, but perhaps the customers want. Also, trying to compete with online vendors would also be difficult...especially with drygoods (considering my location and a huge online retailer is close by). Another thing that would be hard for me, is I'd want to QT everything, and I understand that probably wouldn't be too practical. Anyway, those are my initial thoughts.

 

[shallowreef]

Gabby,

Thansk for the link but its a little different than what i'm talking about. But Thanks anyways.

Nikki,

I totally didn't even take that Dry goods and online vendors into thought good point though. But do you guys think that you have enough experience/knowledge of SW to be able to run your own shop. Nevermind sales or what you would stock just would you think that you could properly plumb a FS and have knowledge to help you customers for everything that they need to know?

I mainly got this idea because i really trust my LFS and no matter wahtr i ask him he always has an answer for me and I find it to be amazing that he knows so much about fish and the hobby in general.

 

[spongebob lover]

Thansk for the link but its a little different than what i'm talking about. But Thanks anyways.

LOL!!! sorry dood i understoon your thread wrong ... my excuse is that i got up 3 times last night to feed Olivia.

Of course i don't have the knowledge of running an lfs, i'm still lacking the knowledge on pieces of equipment and plumbing that someone would need .. so i think i'd be out of business in a month .

I think Krish on the other hand could run an lfs .

 

[Herefishyfishy]

I have known over a dozen good people who have attempted a retail saltwater LFS and have known 4 in wholesale. The wholesalers employed hotshot Young dudes to run the salt department. One employed a sharp newly graduated biochemist who was into the hobby and very knowledgeable. This was the only successfully marine wholesaler of the group and even he lost it all on a huge cold snap caused power outage 5-6 years back. All 4 are closed or selling freshwater only. Shrimp happens.

Of the retailers, many were young aggressive excellent salesmen with awesome overseas connections. ALL are out of business for various reasons. This is a harder trade to make a buck in than being a full time artist or day trader. Better success rate at a blackjack table.

Takes a lot more than knowledge of the hobby and a love of sales. Requires hard work, excellent connections, excellent communication skills, accounting, a big stake to set it up right, financing, a ready market with good PR and support of your public, and a mountain of good luck.
Mike

 

[spongebob lover]

Takes a lot more than knowledge of the hobby and a love of sales. Requires hard work, excellent connections, excellent communication skills, accounting, a big stake to set it up right, financing, a ready market with good PR and support of your public, and a mountain of good luck

I totally agree with you dood

 

[Krish]

...And it takes a whole lot of patience to deal with some people so if you have a short fuse, I'd take up boxing or something else

 

[spongebob lover]

...And it takes a whole lot of patience to deal with some people so if you have a short fuse, I'd take up boxing or something else

i can imagine Nick beating up someone for not getting the right pump :lol:.


Krish, i still think that if you were in the States you would be able to run an lfs and make good money

 

[shallowreef]

Yeah but do you guys think you have the knowledge to do it? I wanna ask my LFS what is the most important thing to him for keeping his business alive other than clients/customers. I wonder what he wil say?

 

[spongebob lover]

I wonder what he wil say?

i think he will say money and food for his family .

 

[shallowreef]

most likely... i was leaning towards experience. He has been in this hobby for quite awhile so i am guessing that experience and trial and error are his big things.

 

[Skimmy]

to answer your question, yes i do think i have enough experience and education to suceed where others have failed with a lfs...
the 2 biggest things that happen to people are mis management and undercapitalization.
people have no reason to go and buy ANYTHING from a local store, unless that store offers you;
complex troubleshooting abilities,
helpful,friendly service,
fast aquisition or in stock needed products,
competitive prices.

the only thing people are buying from you in a lfs is your ability to design their systems
and troubleshoot their problems, they can get the equipment and livestock online anywhere
...and probably for cheaper.
it's all about professional attitude and knowledge, that is what you sell people..

 

[shallowreef]

Thats what i wanted to hear. Thats cool you mentioned two other things that i never thought of.

 

[NaH2O]

I wouldn't say I have enough knowledge to run a LFS. Although, I'd probably get experience really quick with livestock I never kept before. I don't know....I'm all about people learning things on their own, and making decisions based on their research. That's why I wouldn't be very successful. I could give recommendations, but I would want them to consider all their options. Maybe I'd set up some computer stations to RF, and have them search for information to answer their issues. Like I said....I wouldn't be a very good owner

 

[burning2nd]

i dont know, id say, that

if you played your cards right. and new how to run a biz a little bit you could do it.

if i had my own all i can say is that i would have a screen siting somewhere that had taps opened to every reef forurm on the internet (even the ones i can read cause there in another laungue) but

but i keep it simple. it seems in my time that i have learned that you should make a hobbie that you like your job.

what ends up happpening most of the time, is you will kill your hobbie and start hateing what you have gotten your self in

on the other hand. a lfs with the right setup, a few good kinda smart people that know how to point and click would be a useful assest. i think that these fourms are the best source of info. even for a lfs you could take something that a customer asked post it and tell them what you think (or what the hole internet thinks)

 

[james734]

No way. Not for me. I would fail..

 

[moortim]

I know I don't have enought knowledge right now but I would like to someday. I shop at Aquatic Dreams and I think if there is a way to make it work, then Kevin has figured it out.
Mark (skimerwhisperer) is right, the hardest part is competing with the internet stores, but it is possible, I have saved some extra money several times so I could buy a piece of equipment from Kevin, rather than online, just because I love his store and want him to have the buisiness. If I could ever accomplish something like that then I think I could do it.

Tim

 

[DonW]

Working capitol and lots and lots of insurance. Shoe string business fail real quick. Knowlege will come and in the mean time can be bought.

Don

 

[RockyHeap]

As a past wholesaler that brought in 300 pounds of Live Rock at a time, the biggest thing I saw in the LFS industry is the continual influx of new stock into the tanks, they had a hard hard time keeping everything stable when once batch of rock was good, and the next load a 30-40 count addition of anemones would over-load a tank and crash it........you see it at PetCo all the time with cyano break out.