I want to open a saltwater specialty store. Any advice?

[Blood Shrimp]

I have no definite plans, but it is something I have been really considering lately. The biggest competition is petco that is like 10 minutes away and their selection is usually crap and I could easily offer the same or lower prices since they are kinda high. My selection could tower over theirs. My biggest concernd str where would I buy equipment and stuff from that I would want to sell and is there a big enough market to go saltwater exclusive. If I got the ocasional rich person who wants a reef and doesn't know what to do, man I would clean up. The tank itself, sand, rocks, filters, fish, everything......

Bad idea? Good idea? Tips? Anything?

 

[matts125]

where are you located?

 

[jsmkmavity]

petco is not your competition. they only weed out the dummies for you and when someone is serious they will be looking elswhere for livestock. dont sweat the lost sales in dry goods as the margin of profit isnt that great after shipping anyway. if theres noone near you doing this go for it, but be prepared to be married to the store for a couple years before you can go on a vacation. if there are other stores in the area you need to look VERY hard at the potential customer base. anywhere your at you will need to get someone elses customers at your store. if you have the best product and a good location its easy but still takes time.

 

[onehawksfan]

I've spent almost a whole Saturday taking a ferry and driving just to go to a fish store that was supposed to be "all that". I've driven over an hour each way to go to another. Good prices, good selection, friendly and knowledgable service goes a long way in this business my friend. Good luck!

 

[goby2004]

put one in woodinville!!!!

where were you looking to put it?

 

[mmkeeper]

Go to Yourreef.com and email John, then you might call him. He open his store about a year ago after being an online line only store from his garage. He might give you some advice.

 

[Curtswearing]

Here's more good info.

http://www.wetwebmedia.com/AqBizSubWebIndex/Biz Index/Biz index.htm

 

[Blood Shrimp]

petco is not your competition. they only weed out the dummies for you and when someone is serious they will be looking elswhere for livestock. dont sweat the lost sales in dry goods as the margin of profit isnt that great after shipping anyway. if theres noone near you doing this go for it, but be prepared to be married to the store for a couple years before you can go on a vacation. if there are other stores in the area you need to look VERY hard at the potential customer base. anywhere your at you will need to get someone elses customers at your store. if you have the best product and a good location its easy but still takes time.

Good post.

There's another store in the next city over that is pretty good with saltwater. Definitely better than Petco, but overall it's still a crapshoot. These stores barely ever have any good fish in. When they get them they all sell out. Is it that hard to order the right inventory?

What really beats me is why I've never seen a pet store sell stuff like chaeto. To me that seems like a cash cow. I buy a ball for like $20, seed it with mysids, pods, mini stars, etc. Let it grow to huge size and there I have a renewable inventory. I would push hard because of its great benefits. I for one wish I could have bought it from this kind of environment instead of internet where I had to pay for shipping and had more die off.

There's live rock. I could buy boxes of every kind. Cure it. Sell it for twice as much easily. There's petco that sells it for $9.99 a pound and it's just one kind of crappy rock. I could see it for cheaper and offer all types of premium rocks.

Just a few ideas, but I really want to get the ball rolling.

 

[Herefishyfishy]

Takes a lot of $10 and $20 profits to pay the overhead. The remaining money goes to repaying the initial investment and IF (very big if) there is anything left after, that goes toward your wages. I have seen a lot more failures than successes and by very well connected hotshots. I would like to see more stores, but take your time and do a LOT of study and figure the potential cash flow. In most cases, I would recommend against starting any specialty store unless there was a huge customer base in a hot market

 

[Blood Shrimp]

Yea that is what I am afraid of

 

[burning2nd]

i think reguardless of price.... quility is the most inporent thing...

carrie good stuff...
Like Rio,tunze, salifret, tropic marin, Inverts, coral's, Outter orbit, AGA, Cs product's pluming product, valves' replacement bulbs (diffrent size's) hqi bulbs.


hose (meny sizes), cleaners, fish traps, diffrent brands of food some frozen....


really i dont know why you would want to do this.... beside makeing a head-ache for your self, and most likely ruining your hobbie for your self... you will be up against fighting your keep your store looking clean and good.... keeping your live stock alive (you money from burning up)


Imo i would leave it to the sorry sap, who has to run his own store... just IMO...

u will reseve a large disscount on meny things... so you can make your mark up, and try to make some money. but besides that....

i beleave in a few sort years, your will be looking at the hole thing like a job... not an injoyment.

but if you do let me know ill come check it out.

GOOD Luck

 

[mmkeeper]

One of the biggest cost you will have if you want a good size store with a lot of live inventory will be your utilities. Think of what your tank uses in electricity and multiply it, and you pay commercial rates which are higher.

 

[burning2nd]

++ back up genarator's

depending on how big were talking...

i would never in a million years put my self thur that stress...

unless it was just for fun... but 2 do it and try to make money would JUst IMO suck

 

[Blood Shrimp]

Yea I highly doubt I would ever do such a thing. It would be a great accomplishment, but is just way too much work.

 

[burning2nd]

it would be a great accomplishment, agreed.... but Head ache is the result... IMO


just leave it to the (LOL) pro's (lol)

 

[edwing206]

Where is this store going to be?

 

[mmkeeper]

Start in your garage with frag tanks and setup an online store. Low investment. Learn the business then look to go bricks and mortar. Get in with the local club selling frags.

 

[burning2nd]

Nice, that is a good idea....

that would be like the 5th or 6th person in the last couple of days that said some thing like that....

 

[mmkeeper]

I have a friend who did that, a year ago he opened his store and already had an online business and local guys who used to come to his house. He would go and still does to the wholesalers in LA and pick out his inventory, he alos would buy colonies and frag them and sell them for $10-$15 each and make more that the colony was worth.

 

[ecobalance]

fear

Don't let fear stop ya................:shock: