Who owns a lfs?

I have recently looked into it for a friend of mine who was interested in opening a Big Als in my city! They required a $150K investment as well as a 50K franchise fee. They then would come in and setup the store after you aquired a location they found suitable!
So to open open one yourself I would say probably 50-200K depending on the size and how much inventory you wanted to carry! It also depends on whether you want to sell other pets and supplies or just fish! I know our LFS(strictly fish) has quite a small setup, 50-80 15 gal. tanks setup on a central filtration system, cost about 65-75K to get the tanks setup and the first supply of fish, and half the total aquarium supplies he wanted! This is in Canadian dollars by the way! I am really not to sure about the cost in the US though but I hope this helps out a little bit!

I don't own one yet, but am still dreaming. Just bear in mind that turning a hobby into a buisiness isn't always fun. Make sure you want your entire life to be fish tanks (not a problem for me) before you take the plunge.
dave

Go for it, Dave. I would drive the 1.5 hours from Athens to buy my livestock from a knowledgeable source like yourself! PS... sorry for the hijack. I just saw the opportunity to encourage Dave. :OT:

I keep wishing I could start one up, but there are 2 kinds of shops. There are more of the I will sell you anything to make a buck, and the I will do my best to let you know your Pacu will live for 30 years and will need a 300+ gallon tank.

I want to get a fish club going where I live and go form there. Right now I’m breeding some fish and hope to start breeding more, I do sell to 3 LFS. I would think if you could get a good size fish club going to where you could sell the fish that your club breed would be about the best. Not just that you would have some people that you get as staff.

I worked in one.....

I worked in a privately owned fish and pet store for nearly 3 years when I was in my teens. I'd have to say that it was the best job that I've ever had, and if I could make more than $200 a month, i'd still be doing it!!

I'd love to own my own pet store, but I never will. The owners of my store put their entire lives into it. One of them was there in the store at ALL TIMES. The shop was open 7 days a week. These people hadn't taken a vacation in more than 15 years! The only employees were me, another teenage guy, and a 20-something store "manager". Then a Petco opened up across the street and put them out of business. That was that. All those years of hard work can't compete with cheaper fish and dog food.

Anyway, though i'd love to work there, I wouldn't be able to handle the hours required to own it.

I've got to comment on aknif's post and then I have tons of advice. We used to have a nice pet store here. A mom and pop place, literally. It was an older couple and after the wife died (cancer) the daughter helped her dad, but they eventually went out of business. I thought it had a lot to do with places like Wal-Mart starting to carry more of the specialty dog and cat foods as well as two larger pet stores (still locally owned) doing more advertising. It was sad to see them close their doors.

Our town is getting a petSmart soon and I wonder how it will affect the other two fish stores here. I don't suppose it can be too good, since they can deal in volume whereas the local places just can't. But then again, so long as the local places offer something petSmart cannot, they may fare well.

What I am talking about is friendly, knowledgable and accurate sales help. The locla guy has to outwork the big chain to be worth it. I will pay more for better service. Just like a good waiter gets a bigger tip, or if it's cold and rainy, I'll pay more for the better service of full serve gasoline, rather than pump and pay.

The local guy has to know his stuff. He has to bend over backwards for a customer. He has to be prompt and his advice has to be on the money, these days. If not, I'll look up what I need to know on the internet and then save myself the money and head to petSmart, PetCo or whatever place because I don't need that help anymore.

Just always remember that if you DO decide to take the plunge and open your own shop. No matter what kind of pain in the rump some customer is, they can still put food in your mouth and keep your shop open just one more day. Getting to know each customer is really important too.

I love going into this one Gaming and Toy Store in town. The owner, George, knows me and my family by name. He remembers the things I have bought my son already in the Thomas the Tank Engine line, so I don;t screw up and buy a double. He remembers what roleplaying games I play most. He knows my tastes and can recommend a new book, or sometimes hand me a book in a line of games that I never fail to purchase. See what he's doing? He's being a salesman without being pushy. He's not trying to pawn off some crap new game I've never played, he's playing to my interests. This is the personal attention I desire. George charges retail or Manufacturers suggested retail price on everything. Not even a discount for frequent buyer's. He can get away with it. I could just as easily go to the big chain bookstore in the very same strip mall as George and get a 20% discount, but I don't. Becaus eI know George, and he knows me. He's my friend. He let's me stand around his shop and chat for hours. He shows me the new catalogues that come in with this year's hottest new items. He caters to his customer, and that's what ANY prviately owned business has to do in order to compete against the chains. You can't do it with volume and low prices, you have to be every customers friend.

Ask the right questions. See what they like and dislike. See if they are misinformed and if maybe correcting that misinformation can open up a sales path. Do they hate real plants because they heard they cause algae? Clear that up. Show them how nice the real plants are, how much cheaper they are in the long run and how beautiful a living plant looks as it grows. Simple things like this can mean the difference between someone who comes in and looks over your store once, and a custmer who comes back each week, sometimes just to chat and see what new stock you have. It's those "regulars" who sometimes pick up something just because you suggested it and because they want to pitch in and help your business thrive.

There are places online now that help you develop a business plan. Google for them and use them. Lots of them have all kinds of good advice. Entrepeneurs can compete in today's market, they just need to plan ahead, be prepared for that first year (oh, it'll be lean) and have realistic expectations as well as goals. Good luck!

Harlock. I know what you are saying but you need to look at how many people stop in a pet store once a week and get a few fish with there kids. Most of them know nothing about fish and get fish every week and don’t know why they die. I think the smaller stores do better of the hobbies not the weekly shoppers.

got_nailed said:

Harlock. I know what you are saying but you need to look at how many people stop in a pet store once a week and get a few fish with there kids. Most of them know nothing about fish and get fish every week and don’t know why they die.

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And your point? That's an oppurtunity to educate a customer and start that whole "befriending" process. If your point is that some people don't care to be educated, fine, they can shop elsewhere... you're not likely to change that and so you move on. Obviously you can't win them all.

The weekly shoppers go where there the cheapest. Why pay 50 cents more when I can get them cheaper and they last the same amount of time.