starting a buisness

[mep]

who else has thought about opening a store?
3 of the 4 stores in my area seem to just getting by. only one is doing really well(one store doing good sells all pet items other 3 fish only)
seems like a hard buisness to be in

 

[krishj39]

Yeah it's a tough business. The profit margins tend to me razor thin. I've thought about starting my own business, but it would at least start out as entirely tank setup and maintenance. I think it's easier to make money there since people are paying for a service rather than supplies in a flooded market.

 

[footbag]

One thing that I've noticed is that our local LFS's tend to be run by hobbyists instead of businessmen. Many are good at setting up a great tank, but lack the accounting knowledge to understand whether or not their making any money.
It's all about RETURN ON INVESTMENT. You need to be able to make more in this business then you can in money markets or in another business... Double your money every 8 years is a good rule of thumb. That is of course unless you are in it for the hobby. Then you just need to set up a nice tank!