Seriously considering starting a pet store... thoughts?

Certainly a fun idea. The LFSs around here use either a central system with the continuous water change or have a blower powering sponge filters in all the tanks. A few of the sensitive fish have heaters but the fish room is kept pretty warm. Both have advantages and disadvantages. Disease spreads quickly and you have to have all your tanks drilled idealy or overflows on them for a central system.

I would start small, however, as chances are, it will be hard to make a decent income from it especially starting out. There is a guy here that use to just sell on the weekends. He raised a lot of his and sold for other hobbyists. His shop was out of his basement and he did it for 20+ years just for the enjoyment and supplemental income.
 
Im not looking to make moolah. I just would like to do it fro the love of animals. The economy up here isnt doing too bad anymore... so I think it would be a possibility in a year or so.
 
why not start an online business and run it say... out of your basement or garage. Learn more about the business aspect of stores and build a clientelle in the meantime. You can put a fraction into what it would cost to open something bigger. I always thought about breeding discus and plants/corals. If you have a large amount of open space within close distance to a water supply then why not?
 
I suggest you keep it as a hobby if you aren't in it to make money. You could always breed and sell out of your house.

But if you are serious in opening a store front do market research. Will there be enough income for utilities, space rent, livestock, feed, stock, insurance, display tanks, equipment and last but not least your salary.


Or try this. It's free:)
http://www.ldwsoftware.com/ft/index.html
 
I would fear for your success, unless you are independently wealthy and can support it; and will not mind losing the sizable sum of money you just might lose.

In the USA many, many jobs have been lost overseas--they are probably not coming back soon. Cheap immigrant and illegal workers are doing jobs which used to support a family for a fraction of the wages which used to paid for such services. 1% of the population here has over 1/2 of all the wealth. The natural resources which used to be plentiful are now disappearing. Even oil is a finite resource, as we are painfully learning. The gold is gone, the timber is gone. The mineral resources are being depleted, more costly resources are going to have to be found and developed. We even fear that we cannot supply adequate health care to all the population, that some will have to go without, or with less than desirable care.

Even more troublesome is that the "New Gold Rush", which will save us and provide abundant jobs and new wealth is NOT even on the horizon. People are running around saying a lot of positive things--attempting to make positive predictions, but in reality, no one can guarantee or promise anything substantial--there is just "little to point at" which is believable!

I am very fortunate, and am semi-retired. I could be fully retired, but I have to take some contracts which I can work at home with to beat the boredom--just got used to working after doing it for so many years. But, I pulled all my money out of the stock market and took losses on my 401K and other investments to put all my assets into gold and government guaranteed bonds--I was lucky, I just "guessed right" and seen this all coming my way; I count my blessings everyday.

I am not a financial adviser, but I would tell you to save your money in rock solid and real assets--at least for the near future, and probably a year, two or more. Now, if you were going to venture into starting a garbage company, or a company to make toilet paper, provide medical care, discount grocery store, etc.--something people just can't get by without, I would tell you to go ahead. You could probably, even in the worst situation, break even. But, I think times will take awhile before it is safe to invest time and money into a hobby business. In many areas here, people are down to basic living expenses and nothing more--after already having lost their jobs and credit cards. For example, look how easy it is to pick up tanks and equipment for next to nothing as people are forced to downsize their living quarters as they loose their jobs and homes, etc.

I know you stated the money is not your main concern, but the hidden costs may catch you and toss you on your head. Heaven forbid, but you could even get "legal actions" brought against you by some disgruntled, and, most likely, insane "customer."

It saddens me I cannot be more positive; but my gawd, a LOT of peoples houses have just been stolen and the criminals not even charged or investigated! But, I have to toss my two cents in and offer caution. And, perhaps I am just being over cautious--and, if that is the case, GOOD LUCK!

Regards,
TA
 
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phoenixn7g said:
Im not looking to make moolah. I just would like to do it fro the love of animals. The economy up here isnt doing too bad anymore... so I think it would be a possibility in a year or so.
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Then forum and ebay / aqubid is your market place..Not everyone might agree, but, for me, if you want to set up a business, your doing it ( to a certain extent ) for the money...business is business...businesses are there to make money...If a business does not do that, it will fail...

Just my opinion....
 
NO NO NO. do not start a business espec. brick n mortar where you must cover a lot of fixed costs (as previously mentioned) - rent, insurance, inventory. as some have suggested start out of your garage or basement or even your spare room in the house (if you have those luxuries of space).

selling online is tough cuz you have no established reputation.

also, has some have suggested, you need to get more small biz info whether online, local advisors, local bank, etc. as also stated opening a business is to make money not make hobby of it.

do some market research (can your local community sustain your business, is there a demand - not just one or two who think it's a good idea & they'd be your 1st customers type of deal), how many households have aquariums, what is the potential for new starters, etc.

come up with a business plan (which includes not only cost estimates, fixed & variable - i.e. rent includes security deposit, construction, fish/non-fish supplies, inventory, utilities) but also # of & size of tanks, types of common easy to sell fish, what supplies/brands to carry, water supply, work/prep area, etc.).

economy is still in a recession - so fish keeping is a luxury that many may/can start but may not grow with you to sustain your business.

as one stated, hidden or unexpected costs (fish loss, not just one or two, or disease breakout) hit you & your hobby is a lost cause no longer fun.

if you can breed some fish & sell online/locally that be a good start. consider some of the easier fish - spark some interest.

but if you do decide I would anwer your inquiry as follows:

1. select space where rent is low (best in your own home somewhere) & can allow for expansion, security deposit, utility costs, construction costs, advertising, phone, taxes, vendor/suppliers, storage space, etc. etc. etc. by no means an all exhaustive list needed.

2. # of tanks --> size of tanks --> types of fish --> quantity

3. filtration - try multi central system each for fresh water community tanks, cichlids, discus, feeders, goldfish/specialty golds related. this way they won't cross contaminate each other when disease hits. or a combo set up, some on central, some on their own separate filtration.

4. QT tanks (unlike the large LFS & many local LFS - they just float the bags then dump)

5. make list of all supplies to carry from tanks, filters, heaters, lighting, meds/water treatments/test kits, foods, gravel/decorations, plants, accessories, maintenance supplies, plastic bags, etc. etc. etc.

6. get all your tanks cycled.

7. then order your fish, supplies

8. then observe their conditions to be sure no disease outbreak.

9. treat-QT asap

10. after a week or 2 open your doors & wait for them to come rushing in.


I don't think I covered all the steps but hopefully you get the gist. We all wouldn't want you to bite off more than you can chew.

but good luck either way.
 
Alot of you mentioned the economy in THE UNITED STATES. I dont live in the US. The economy up in Canada is bouncing back ATM. Alberta I would say was hit the least, as we were the "richest" province to begin with, hence we suffered less.
 
phoenixn7g said:
Alot of you mentioned the economy in THE UNITED STATES. I dont live in the US. The economy up in Canada is bouncing back ATM. Alberta I would say was hit the least, as we were the "richest" province to begin with, hence we suffered less.
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Ahhh, than Canada is an island? Last time I checked, many Americans were investing in business and resources in Canada. Heck, every time, lately, when I call a computer help line for assistance with hardware, I am hooked up with some operator in Canada!!!

When that money dries up, there may, or may not, be another pool of money which "they" can switch to. In the meantime, if I were you, I'd be open to the idea that the rest of the world economy DOES have an impact on Canada--albeit, it may be a delayed one, i.e. may take months or a year before you feel the real effect up there.

But hey, I am not a financial adviser--but if I were, I'd like to think I could do a better job than those which got us here!

Regards,
TA
 
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