runn3rb3an
Active Member
Just out of curiosity has anybody on this site actually owned/ own a lfs??
Does anybody here own a lfs??
- Thread starter runn3rb3an
- Start date
subie41ife
Member
I always wonder that same question. I dont know why but I do lol.
scottnlisa
Member
Originally Posted by runn3rb3an
http:///forum/post/3262836
Just out of curiosity has anybody on this site actually owned/ own a lfs??
For as much as I spend at my LFS, I should at least own some stock in it.
http:///forum/post/3262836
Just out of curiosity has anybody on this site actually owned/ own a lfs??
For as much as I spend at my LFS, I should at least own some stock in it.
t316
Active Member
There are a few as I recall (can't remember who), but for the most part they keep their mouths shut and just read. There is an inherent conflict of interest between "most" lfs owners and truely responsible fish keepers. It's very difficult for them to make a buck while properly handling livestock and giving proper advice.
speg
Active Member
Originally Posted by T316
http:///forum/post/3263223
There are a few as I recall (can't remember who), but for the most part they keep their mouths shut and just read. There is an inherent conflict of interest between "most" lfs owners and truely responsible fish keepers. It's very difficult for them to make a buck while properly handling livestock and giving proper advice.
I don't see it being that difficult honestly. It's just a problem with being lazy and uneducated about the hobby.
http:///forum/post/3263223
There are a few as I recall (can't remember who), but for the most part they keep their mouths shut and just read. There is an inherent conflict of interest between "most" lfs owners and truely responsible fish keepers. It's very difficult for them to make a buck while properly handling livestock and giving proper advice.
I don't see it being that difficult honestly. It's just a problem with being lazy and uneducated about the hobby.
aquaknight
Active Member
Originally Posted by runn3rb3an
http:///forum/post/3262836
Just out of curiosity has anybody on this site actually owned/ own a lfs??
Is there any specific you'd like to know?
http:///forum/post/3262836
Just out of curiosity has anybody on this site actually owned/ own a lfs??
Is there any specific you'd like to know?
mrdc
Active Member
Originally Posted by reefraff
http:///forum/post/3263270
Very hard to make a decent living at it. Too much internet competition and ***** and smart. The only ones I know of that stay afloat do so by doing tank maintenance on the side.
Or you have to offer a little of everything like reptiles, birds, rabbits, ... The tank maintenance and animal boarding is what one of my stores really relies on. Another store is open only from 4-8 during the week and 10-8 on Saturday. I beleive the owner has another full time job and the store is more of a way to satisfy his love for the hobby.
http:///forum/post/3263270
Very hard to make a decent living at it. Too much internet competition and ***** and smart. The only ones I know of that stay afloat do so by doing tank maintenance on the side.
Or you have to offer a little of everything like reptiles, birds, rabbits, ... The tank maintenance and animal boarding is what one of my stores really relies on. Another store is open only from 4-8 during the week and 10-8 on Saturday. I beleive the owner has another full time job and the store is more of a way to satisfy his love for the hobby.
stdreb27
Active Member
There is one store in houston, that has a huge following. But he has a handful tanks, so it is a low overhead, then he has a couple of nicefrag tanks, that he sells less common stuff, then a HUGE frag tank in the back. So he makes enough money to stay afloat with a nice car and toys.
mrdc
Active Member
Originally Posted by stdreb27
http:///forum/post/3263311
There is one store in houston, that has a huge following. But he has a handful tanks, so it is a low overhead, then he has a couple of nicefrag tanks, that he sells less common stuff, then a HUGE frag tank in the back. So he makes enough money to stay afloat with a nice car and toys.
I believe the biggest overhead for a popular store here is payroll because he owns the building. He’s been there for over 20 years so I am sure it hasn’t always been “easy”.
http:///forum/post/3263311
There is one store in houston, that has a huge following. But he has a handful tanks, so it is a low overhead, then he has a couple of nicefrag tanks, that he sells less common stuff, then a HUGE frag tank in the back. So he makes enough money to stay afloat with a nice car and toys.
I believe the biggest overhead for a popular store here is payroll because he owns the building. He’s been there for over 20 years so I am sure it hasn’t always been “easy”.
runn3rb3an
Active Member
yea actually I wanted to open an internet business selling frags eventually and was going to get everything at wholesalers. The only thing is that none of my lfs want to tell me a good place around here and im not too sure about the legal part. I know you would need a business liscensce or tax id or something so I think im going to start off with an ---- store to just test the waters and see how it goes. (no pun intended)
t316
Active Member
Originally Posted by runn3rb3an
http:///forum/post/3263483
yea actually I wanted to open an internet business selling frags eventually and was going to get everything at wholesalers. The only thing is that none of my lfs want to tell me a good place around here and im not too sure about the legal part. I know you would need a business liscensce or tax id or something so I think im going to start off with an ---- store to just test the waters and see how it goes. (no pun intended)
I was a cat's hair away from doing what you are thinking about. My suggestion....drop the idea. First, there are thousands of people out there doing the same thing. Second, unless you can eliminate about 2/3 of them, you will never be able to compete. Third, finding a wholesaler is not that big of a deal. It's more of a matter of where to sell. You will start off with friends, family, and word of mouth, but it hits a dead end due to reason # 1.
My suggestion is to sell only "YOUR" frags. If you are not setup already, get a BIG frag tank and start producing your own. Sell off of craigslist. Then go from there. Forget buying from wholesalers and reselling the same pieces for right now.
http:///forum/post/3263483
yea actually I wanted to open an internet business selling frags eventually and was going to get everything at wholesalers. The only thing is that none of my lfs want to tell me a good place around here and im not too sure about the legal part. I know you would need a business liscensce or tax id or something so I think im going to start off with an ---- store to just test the waters and see how it goes. (no pun intended)
I was a cat's hair away from doing what you are thinking about. My suggestion....drop the idea. First, there are thousands of people out there doing the same thing. Second, unless you can eliminate about 2/3 of them, you will never be able to compete. Third, finding a wholesaler is not that big of a deal. It's more of a matter of where to sell. You will start off with friends, family, and word of mouth, but it hits a dead end due to reason # 1.
My suggestion is to sell only "YOUR" frags. If you are not setup already, get a BIG frag tank and start producing your own. Sell off of craigslist. Then go from there. Forget buying from wholesalers and reselling the same pieces for right now.
runn3rb3an
Active Member
Yea I'm not really out to make a killin I just enjoy the hobby an thought I might take it on this direction and see how it goes. Believe me I won't be quitting my day job lol. The reason I am looking for a wholesaler is because for the money it will take me to fill a frag tank I will be making nothing. I work at a lfs and theyvtell me some things that are very interesting lol. They buy a colony of let's say acro for 8.99. They turn around and split that into 10 to 20 pieces and sell each for 14.99. The markup is really rediculous in this hobby.
So why buy a drag for that much and let it grow out when I can get the colony and frag it up is my logic lol. I plan to just sell to my reefclub and maybe clist the bay* friends etc as you said. Worst comes to worst I end up with some nice corals bought cheap
(sorry for the bad grammer I'm typing on an itouch)
btw how would I go about finding wholesalers. I assume all need to see tax Ids right?
So why buy a drag for that much and let it grow out when I can get the colony and frag it up is my logic lol. I plan to just sell to my reefclub and maybe clist the bay* friends etc as you said. Worst comes to worst I end up with some nice corals bought cheap
(sorry for the bad grammer I'm typing on an itouch)btw how would I go about finding wholesalers. I assume all need to see tax Ids right?
stdreb27
Active Member
Originally Posted by mrdc
http:///forum/post/3263313
I believe the biggest overhead for a popular store here is payroll because he owns the building. He’s been there for over 20 years so I am sure it hasn’t always been “easy”.
Houston's property values never superheated like alot of other places. He found a delapidated strip mall about 1 exit from a really valuable stopping area and expensive homes. I checked because there are open fronts in his center. And they are chHEAP. his labor is low him and one other girl. It is a bare bones op with good stuff
http:///forum/post/3263313
I believe the biggest overhead for a popular store here is payroll because he owns the building. He’s been there for over 20 years so I am sure it hasn’t always been “easy”.
Houston's property values never superheated like alot of other places. He found a delapidated strip mall about 1 exit from a really valuable stopping area and expensive homes. I checked because there are open fronts in his center. And they are chHEAP. his labor is low him and one other girl. It is a bare bones op with good stuff
speg
Active Member
I think you should go for it. Your goal will have to be to stand out from the rest, and that should be easy to do.
As far as where the wholesellers are.. did you try to google them? My LFS used to show me some of the prices that they get their products for and they increased the price they pay by 200% You can certainly make money...
What I would do is first set up all of your tanks and let them get going for a while... then I would order from somewhere and get a large mix of frags... then I would frag some of the bigger frags into smaller frags, and let them grow. This way you'll end up doubling the money you could have made.
As far as where the wholesellers are.. did you try to google them?
My LFS used to show me some of the prices that they get their products for and they increased the price they pay by 200% You can certainly make money...What I would do is first set up all of your tanks and let them get going for a while... then I would order from somewhere and get a large mix of frags... then I would frag some of the bigger frags into smaller frags, and let them grow. This way you'll end up doubling the money you could have made.
runn3rb3an
Active Member
Originally Posted by Speg
http:///forum/post/3263515
I think you should go for it. Your goal will have to be to stand out from the rest, and that should be easy to do.
As far as where the wholesellers are.. did you try to google them? My LFS used to show me some of the prices that they get their products for and they increased the price they pay by 200% You can certainly make money...
What I would do is first set up all of your tanks and let them get going for a while... then I would order from somewhere and get a large mix of frags... then I would frag some of the bigger frags into smaller frags, and let them grow. This way you'll end up doubling the money you could have made.
My thoughts exactly. I have my parents behind me all the way too which is great. I really can't figure out how to price them though. I don't want them to be so low that people would think that there low quality and I want them to be low enough to at least have some base for customers around me. I'm trying to aim at fair prices for really good quality coral right now lol.
http:///forum/post/3263515
I think you should go for it. Your goal will have to be to stand out from the rest, and that should be easy to do.
As far as where the wholesellers are.. did you try to google them?
My LFS used to show me some of the prices that they get their products for and they increased the price they pay by 200% You can certainly make money...What I would do is first set up all of your tanks and let them get going for a while... then I would order from somewhere and get a large mix of frags... then I would frag some of the bigger frags into smaller frags, and let them grow. This way you'll end up doubling the money you could have made.
My thoughts exactly. I have my parents behind me all the way too which is great. I really can't figure out how to price them though. I don't want them to be so low that people would think that there low quality and I want them to be low enough to at least have some base for customers around me. I'm trying to aim at fair prices for really good quality coral right now lol.
stdreb27
Active Member
You guys are looking at this like the guy who runs across a free 100 gallon tank and thinks that is the cost involved with a sw fish tank. The tank is the cheapest part...
Think about it. The LFS I used to frequent had a 4-5 thousand dollar electric bill each month. A 1000 plus water bill, they had food costs, equipment costs, 2-4 people on payroll. Then the costs of inventory... Basically they had to clear $25,000 in sales per month to break even. assuming a 20% gross margin...
Retail success isn't based in quality of service and knowledge of a product. It is how good and cheap you can get your product in front of a customer... Because the average consumer makes decisions based on price. The trick is to create a customer base, of people who have enough $$ to be willing to pay a premium for service, that is incorporated in the price...
Think about it. The LFS I used to frequent had a 4-5 thousand dollar electric bill each month. A 1000 plus water bill, they had food costs, equipment costs, 2-4 people on payroll. Then the costs of inventory... Basically they had to clear $25,000 in sales per month to break even. assuming a 20% gross margin...
Retail success isn't based in quality of service and knowledge of a product. It is how good and cheap you can get your product in front of a customer... Because the average consumer makes decisions based on price. The trick is to create a customer base, of people who have enough $$ to be willing to pay a premium for service, that is incorporated in the price...