Opening a Local Fish Store Questions/Comments/Concerns

[NeedAReef]

not for nothing but if the #'s in your handle indicate what some might think...you might be better off setting up that kind of store to supplement your Saltwater hobby.....

 

[Pntbll687]

I am not sure about this advice. These are so easy, that the market will be saturated in no time, unless you have a huge market like New Youk, LA or Houston.

I’ve sold hundreds of frags of those to my local lfs

 

[oliver1812]

For QT maybe I offer like a QT package that’s everything you need to instantly set one up.

I thought about this. I told one of my LFSs that if they offered a QT package (instructions,tanks, heaters, meds) I would have totally bought it.
I feel it would have shortened my research time and saved me from buying fish and they not survive.

 

[Keithb22]

What coral stores are in Royal Oak? I’ve been using Preuss’ for most aquarium needs.

 

[oliver1812]

not for nothing but if the #'s in your handle indicate what some might think...you might be better off setting up that kind of store to supplement your Saltwater hobby.....

From the info he provided up front…I think that is the case..

He is trying to get out of it and switch to slinging live rocks.

 

[oliver1812]

One of my LFSs offers a service where they will come and pick up your tank, animals and all the gear for free. A lot of people use it to avoid all of the hassle with trying to sell online. Or they need it gone for a move, they upgrade or just getting out of the hobby etc.

The cool part is that they then resell the stuff in their store. They have a very good used equipment section and they price them really fairly. That stuff never lasts long and for the LFS it’s all profit. Just cost the couple hours or so of labor to go and pick it up.

I LOVE this part of all of my LFSs (pretty much all the LFS in my area have a used equipment section) if a place has a good used section I am there at least once a week looking for a good deal. However, for some odd reason I always leave with a $10/$20 frag or two or some fish food or some chemicals that I was low on that I might as well get while I am here.

 

[klc]

Ok so let me put aside the financial aspect of it all, perhaps the OP has what he needs to pull it off. One of my biggest pet peeves about LFS is fish stock. Im a fish guy and I like to shop for fish. I absolutely cannot stand it when a store has empty tanks, or even worse a whole wall with a bunch of clownfish. I get it, those new to the hobby want clownfish and a hippo tang in their nano but not everyone who visits a store is a newb and those who have been in the hobby for a while want to see and buy fish. I'm all over the place with it, sometimes I'll buy a starry blenny, sometimes it'll be a blotched rabbitfish and then there are occasions I'd buy a dussumierri tang if they had one. And illumination for fish tanks is important, put nice lights over them so the fish's colors pop. Nice, clean, barebottomed display tanks with a very good assortment of fish will sell fish. Some large pvc elbows or a single piece of rock in the display is all that's needed, make it easy to catch your fish. There is one LFS in the Phoenix area that I like in particular, I even go out of my way to visit at least once a month. They almost always have a full stock of fish for sale. One thing they do that I love is they print out plastic labels for each fish and stick them on the tanks with a tab that they peel off and put on your bag when you buy them. It has the common and scientific name, the location where they were collected, and the date when the fish arrived at the store, plus any other critical info the store might think the new owner may need to successfully keep the fish. The staff is pretty good at it too, when you ask them to bag up that 2" vlamingi tang, they always ask you how big of a tank you have and if you're aware that fish will get really big. The same goes for any fish that is on the pricey side, they will have a senior member of staff talk to you about it first, they truly care about the fish and your continued satisfaction with your hobby.

A big tank full of seasoned rock is a welcome sight when I see it. And I don't mean the Caribsea painted concrete rock although I'm aware of the state of rock collecting currently. I've never seen it done, but having some of the Florida aquacultured rock for sale would be nice. TBS and the others will definitely sell to a LFS for wholesale cost. I think Walt Smith still exports "wet boat rock" that is something to look into. It's all better than the mess dry rock is.

I've got lots of ideas, I get inspiration from WWC, their retail shop is next level. It wasn't built up overnight though lol.

 

[gbroadbridge]

Hello everyone, I am looking for A LOT of feedback here. I would like feedback from hobbyists, diehards, store owners, and guys fragging in their basement.

I am considering opening up a brick and mortar store specializing in marine aquatic life. We would be located in Southwest Michigan. We would also carry freshwater and some other pet supplies dog/cat food etc.

My background
I have been in retail or sales my entire working life. I started selling furniture at 16 years old my first retail management job was in my late teens. Managing a small local owned furniture store. From there did some various commission sales jobs. In my mid twenties I started working at Rent-A-Center and with in 6 months was promoted to manager of a store set to close with in the year. I built a team that turned the store to where it remained open for my tenure with the company. I trained 4 employees that became managers of other stores with in the company two of which are still running stores for them now. While managing that store it was rewarded with a multitude of store of the month/year awards as well as awards for profitability with in the company. After leaving RAC I entered the Michigan Cannabis industry and opened a total of 7 retail stores and a processing facility. Cannabis in Michigan has been EXTREMELY unstable, we have sold 4 of the retail stores and currently are have the 3 remaining retail stores up for investment opportunities or out right sale. Given my extensive retail background I am confident that I will be able to run a successful retail store.

Why retail focused in aquatics?
In my area we have a major lack of aquatic resources. I have been in the Marine hobby now for 8 years and keeping fresh water tanks for 20+ years. I have to drive a minimum of 65 miles to get to a store that is not a big box retailer. So I believe there is a demand but a lack of stores. The last store in that was in our area was destroyed by a tornado this past spring and the owners do not plan on reopening. The selection at the big box stores especially for marine aquariums is very limited as well.

Where do you guys come in?
Although I am confident in my ability to open and run a successful store I would be ignorant to think I know it all or could think of all the in and outs of every scenario. So from y'all I ask the following:

Hobbyist and Diehards - What do you want to see at a LFS? What products are must haves? What products do you not mind waiting for if you have to order online? What products are emergency and you want to be able to grab at the drop of a hat? What have you seen that made you say I will definitely be back? What have you seen that made you say nope not shopping here? What do you expect from the staff as far as knowledge goes? Would you pay extra for a fish to have the LFS QT it? And anything else you guys think would be worth sharing.

Store Owners and home growers - What did you not plan for that happened in the first 6 months, first year? How many sqft. would you recommend as a minimum? What would you never want to run out of? What do you always have even though it might sell slowly? What critters die to easy? What critters sell themselves on site? What would you sell outside of aquatic products? Any vendor recommendations? Where can I save money? What size RODI system and what size reservoir for RO Water/ Saltwater? And anything else you guys think would be worth sharing.

I hope to take all of this and build a store you would all be proud of.

My advice would be to talk to an accountant way before you think you need to, as they will likely point out a lot of costs you have not considered if you have not operated a store before.

Upfront capital can be a dream killer.

 

[Pntbll687]

I am not sure about this advice. These are so easy, that the market will be saturated in no time, unless you have a huge market like New Youk, LA or Houston.

My point was more that the vast majority of coral being sold at lfs is for beginners. For every holy grail torch, several hundred $10 coral will go out the door.

I supply a few lfs near me with coral when I have extra. I sell Xenia for $10, zoas for $5-$15 and gsp for $5. I’ve bought two full apex systems and now building out hydros with selling frags.

Making friends with locals is always a good idea to get well grown out pieces for good prices. I started with store credit for frags, and then cash, and now they buy $750-$1000 at a time so I take a check to make it easier for them.

 

[-XENOMORPH-]

Lfs guy said to me... I have all these hydras etc over these tanks, but look in that case over there? How many do I sell? None, because they're 600 or 700$ People know they can buy lights that work for $200. So nobody is buying them. .....I guess what I'm saying is , have supplies or offer to order but don't stock a ton of extra that no body can afford. Like a guy above said, research that local area. Do people have money? Or is it regular joe? .... good luck.

 

[klc]

I think it's a good idea to build out a store using products you intend to sell, like a working demo of sorts. Leave the stands open so customers can see what goes into a working sump. You can demonstrate how well a certain piece of equipment works fist hand. And like has been mentioned, I wouldn't stock any high dollar equipment, it's just too much cash outlay to keep it on the shelf and never sell it. Your dry goods wholesaler can set you up with a starter stock using the top sellers in each product category. You will need to stock some tanks and stands though, it's easy to sell if the customer can see and touch it, and envision how big that 8' 240 is. Taking it home that day is priceless, at least to me. One of my favorite LFS has a whole bunch of Aqua Japan tanks in stock, it takes up a good portion of the floor but every time I go there are tanks missing from the floor so I know he sells them. There's no freight cost to the end user when you have it in stock, which might sway a decision one way or the other.

Anyways there's lots of things in my head for a new LFS, I've done my research already. But unfortunately I probably won't be opening one anytime soon. Designing, building and operating a LFS isn't for everyone. You'll lose your money if it doesn't work.

 

[Dr. D]

With just a few wording changes, this could be a thread on opening a restaurant. So many people lose their life savings realizing their “dream” of opening one. And then the reality sets in. It’s very, very hard, and the vast majority fail within a couple of years. Surely you’ve seen this in your own community. I’ve cautioned so many people about this in my career.

Unless you have a) significant, positive experience in a similar retail environment, or b) some very unique competitive advantage, or 3) money to burn, I’d strongly recommend caution.

Some will see this as negativity. It’s just experience.

 

[jmcdona6]

With just a few wording changes, this could be a thread on opening a restaurant. So many people lose their life savings realizing their “dream” of opening one. And then the reality sets in. It’s very, very hard, and the vast majority fail within a couple of years. Surely you’ve seen this in your own community. I’ve cautioned so many people about this in my career.

Unless you have a) significant, positive experience in a similar retail environment, or b) some very unique competitive advantage, or 3) money to burn, I’d strongly recommend caution.

Some will see this as negativity. It’s just experience.

This whole thread is basically, very nicely and constructively, telling the guy to run away as quick as he can from the idea.

 

[klc]

This whole thread is basically, very nicely and constructively, telling the guy to run away as quick as he can from the idea.

You bet! Asking the forum for ideas and suggestions is a red flag in itself. He may have been successful operating a cannabis store(s) but selling fish and coral requires multitudes more than baggies and a scale. The upfront costs are enormous.

 

[420reefing]

not for nothing but if the #'s in your handle indicate what some might think...you might be better off setting up that kind of store to supplement your Saltwater hobby.....

The Michigan market is pretty messed up right now when it comes to that. I think the margins on groceries are better.

 

[420reefing]

You bet! Asking the forum for ideas and suggestions is a red flag in itself. He may have been successful operating a cannabis store(s) but selling fish and coral requires multitudes more than baggies and a scale. The upfront costs are enormous.

We have over 2 million in our processing facility. There is a lot more to cannabis than baggies and a scale too. The upfront cost of a pet store are no where close to what entry to cannabis is like.

 

[420reefing]

Ok so let me put aside the financial aspect of it all, perhaps the OP has what he needs to pull it off. One of my biggest pet peeves about LFS is fish stock. Im a fish guy and I like to shop for fish. I absolutely cannot stand it when a store has empty tanks, or even worse a whole wall with a bunch of clownfish. I get it, those new to the hobby want clownfish and a hippo tang in their nano but not everyone who visits a store is a newb and those who have been in the hobby for a while want to see and buy fish. I'm all over the place with it, sometimes I'll buy a starry blenny, sometimes it'll be a blotched rabbitfish and then there are occasions I'd buy a dussumierri tang if they had one. And illumination for fish tanks is important, put nice lights over them so the fish's colors pop. Nice, clean, barebottomed display tanks with a very good assortment of fish will sell fish. Some large pvc elbows or a single piece of rock in the display is all that's needed, make it easy to catch your fish. There is one LFS in the Phoenix area that I like in particular, I even go out of my way to visit at least once a month. They almost always have a full stock of fish for sale. One thing they do that I love is they print out plastic labels for each fish and stick them on the tanks with a tab that they peel off and put on your bag when you buy them. It has the common and scientific name, the location where they were collected, and the date when the fish arrived at the store, plus any other critical info the store might think the new owner may need to successfully keep the fish. The staff is pretty good at it too, when you ask them to bag up that 2" vlamingi tang, they always ask you how big of a tank you have and if you're aware that fish will get really big. The same goes for any fish that is on the pricey side, they will have a senior member of staff talk to you about it first, they truly care about the fish and your continued satisfaction with your hobby.

A big tank full of seasoned rock is a welcome sight when I see it. And I don't mean the Caribsea painted concrete rock although I'm aware of the state of rock collecting currently. I've never seen it done, but having some of the Florida aquacultured rock for sale would be nice. TBS and the others will definitely sell to a LFS for wholesale cost. I think Walt Smith still exports "wet boat rock" that is something to look into. It's all better than the mess dry rock is.

I've got lots of ideas, I get inspiration from WWC, their retail shop is next level. It wasn't built up overnight though lol.

All great advice thank you

 

[EliMelly]

I don’t see running a LFS to be a profitable business unfortunately as most things can be bought online. I would look into LAX aquariums they seem to be the best in the game in LA. I do think they get a lot of business from maintenance though.

I would absolutely adore a place that had a club and an area to hang out and talk reefing though.

Other points some others have mentioned.

Clean disease free tanks.
QT Options Potentially
Coral Variety
Visually Appealing
Used Gear

I’m sure there’s plenty others, but again I don’t see this being a great business in general.

 

[Kipp's Corals]

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