Starting a LFS, NE Ohio

k-rok

Member
Any FS owners here or anyone that works at a LFS - something other than the huge franchise stores? I have been thinking about starting a store of some kind in my home town which isn't very big - but, there is absolutely no compititon. I have to drive 50 miles to get to the nearest saltwater fish place. I think it would be really cool to make a living doing something you enjoy - although I know it would be a real challange. I'm trying to figure out if there is a real market for this though as I may need to couple it with some other business idea at least for awhile. Any honest, dependable, knowledgable people out there want to start a partnership with me in NE Ohio?
 

blizz75

Member
Sorry i cant help but Good Luck! I know how it is to start a business that is risky. If you have the resources and its something you believe in go for it!
 

torno

Member
OMG please do! We have NO good saltwater fish stores in Northeastern Ohio! I would come every week!
Sorry I don't have any advice but seriously good luck!
 

imurnamine

Active Member
Ohh, do it!
Locally owned pet stores are usually trusted more because they're seen to be more personal than large franchaises. I work at a locally owned store and it's great!
I wish you the BEST of luck! Go for it! :jumping:
 

gen1dustin

Member
Research into a good bit before jumping into anything. I've heard that it is hard/nearly impossible to get a bank loan for a petstore.
 

k-rok

Member
Thanks for the encouragement everyone. What do you think about a LFS with lots of large display tanks coupled with a coffee shop/lounge idea so that people could sit and drink coffee and look at the fish - and then buy them - lol. I've been putting a lot of though in to what would be cool to go along with the LFS. Any ideas?
 

mrdc

Active Member
Have you come up with a name for your store? Maybe get suggestions here like the person did for their sailboat.
 

gen1dustin

Member
I just wouldn't go overboard at first. You can easilly start doing tons of cool stuff with the business that is un-needed & then your in over your head & the business fails. So be careful. Honestly if it is just going to be an aquarium store I'd rent a nice warehouse to start it at. Though if there is a nice little shopping center place for a good price to rent do that.
 

imurnamine

Active Member
Originally Posted by K-ROK
Thanks for the encouragement everyone. What do you think about a LFS with lots of large display tanks coupled with a coffee shop/lounge idea so that people could sit and drink coffee and look at the fish - and then buy them - lol. I've been putting a lot of though in to what would be cool to go along with the LFS. Any ideas?

Combining saltwater and a coffee shoppe would be heaven... How about you come to Alabama and do that, huh? Please?!
 

gen1dustin

Member
Oh yeah, by the way. Places like PetsMart, *****, etc. aren't franchises instead Corporate Chains. To tell you the truth if you could find a pet store to franchise LOOK INTO THAT. A franchise is still locally owned & everything, but your way more willing to suceed. Though honestly I've never seen or heard of a petstore franchise. First thing I would do if your serious is come up with a name, get your articles of orginization, resale certificate, & that way your an actual business & can get on with a wholesale distributor. Oh yeah if your looking at tanks for a shop, check out Marineland's ones they sell to business's they look nice.
 

djm

Member
Petsland is one chain that is franchised.
There used to be a HUGE saltwater fish retailer in NE Ohio. It was over 15 years ago that I went there and I can't remember where it was or the name of the place. (yeah, I am lame like that) I do remember that it was somewhere in the region between Cleveland and Akron.
Starting your own shop is a VERY risky venture. Sure, you'll be doing something that you love, but let me be the Devil's advocate and point out some of the major down sides to having a saltwater shop. The maintenance bill will be HUGE- (that is just for live tank management and doesn't include property leasing, utility bills, insurance premiums, staff salaries, etc. in the equation.)
While it is great to actually SEE a specimen at a shop before paying for it and taking it home, you won't be able to compete with online vendors and make a profit. Hardware is also becoming increasingly difficult for local operators to sell. My last trip into local pet stores was over 6 months ago. I went in knowing that the prices would be marginally higher than online prices. I was wrong. The prices are ASTRONOMICAL compared to online. They have to be to pay the overhead. I'm sorry, but I vote with my wallet. Just for an example, I won't pay a local pet store $8 for the same carton of carbon that I can get for less than $3 online just to support a local business.
I am sure there are enough people around that ONLY buy things locally and have never shopped on the internet that you may be able to have some cash flow- for a while.
I'd love to see your shop if you ever open it! I doubt that I would pay the amount of money that you would have to charge just to keep the doors open though.
 

imurnamine

Active Member
I'd rather pay some extra cash to see my merchandise in person and have it 3 - 5 days sooner, but that's just me.
 

djm

Member
Originally Posted by ImUrNamine
I'd rather pay some extra cash to see my merchandise in person and have it 3 - 5 days sooner, but that's just me.
I can somewhat agree with that. But "some extra cash" for a local retailer is easily 30% more for livestock and well over 70% more for equipment and accessories. Sure, I would pay 30% more for a fish if I could see it every day for a month in a dealers tank to be sure it is acting properly. The problem comes on the non-living side of the business. I doubt a fish store would ever survive by just selling fish (inverts, plants, etc.). They have to rely on income from stocked items (heaters, powerheads, air pumps, etc.) that they have have to buy in advance to stock their shelves. Many of these items will NEVER sell, so the prices for everything has to be increased to cover the items collecting dust to not sustain an overall loss. You are paying 4 extra dollars for a can of fish food because the ick treatment isn't going to sell huge volumes even though a retailer has to have it available for sale in case someone is looking for it.
I have bought fish through mail oder before the internet was even mainstream, and I haven't been disappointed yet. That is what helps me be so bold with my opinion. I'm sur that if I had ever felt ripped off OR I was looking for a prized $300 item, my business may go to a trusted local dealer.
Another point I didn't touch on earlier is the fact that it is damn near impossible for a lfs to quarantine their new arrivals. That can be WAY worse for the store owner than it is for the buyer. A buyer may pay 30% more knowing that they have seen the perfect fish and just write it off when it dies of some disease. But if a store's tanks get infected, it can wipe out thousands of dollars worth of inventory. THAT is a huge risk.
I am in no way trying to dissuade K-ROK from following a lifelong dream. I also don't want K-ROK going into this venture without some knowledge of the possible downside to the idea.
 

k-rok

Member
Yeah I've thought of all the risks and potential downfalls of a saltwater fish store. I had thought about starting it out in my basement as an "by appointment only" type place. This way I would not be paying rent and wouldn't have to pay any employees. I have to find out if this is possible first as I'm afraid the zoning laws may not permit it. Any thoughts about this idea?
 

gen1dustin

Member
Originally Posted by K-ROK
Yeah I've thought of all the risks and potential downfalls of a saltwater fish store. I had thought about starting it out in my basement as an "by appointment only" type place. This way I would not be paying rent and wouldn't have to pay any employees. I have to find out if this is possible first as I'm afraid the zoning laws may not permit it. Any thoughts about this idea?
I dunno in a way I was thinking that earlier. You also don't need a business liscenes in most staets if it is ran through a home, but you would still need your articles of orginiztion(Basically the proof you formed a company) & a resale certificate, that would probally be needed to get on with a wholesale distributor. The only thing is getting out there. What I've learned in the business is a lot of times you can get the stuff just as cheap as anywheres else gets it from their distributor. So running it out of a home would help you make more profit & sale at a competitive price to others. There is a huge risk in starting any business, but that is why it's not for everyone & if your an entrepreneur like I am then OK. Research & Beware. One thing you need to be sure of is this, is this business big enough for you to suceed. Meaning is there enough people into saltwater tanks in your area?
 

k-rok

Member
I've been wondering about the demand for saltwater fish and supplies myself. How do you find out? All I know is that within a 50mile radius there is no saltwater fish places, and there is only one real Pet Store in my area. I thought about putting an ad in the paper for my store before I even decide to have one for sure to see how many calls I get. Any other ideas to gauge demand?
 

tangwhispr

Member
Originally Posted by K-ROK
Thanks for the encouragement everyone. What do you think about a LFS with lots of large display tanks coupled with a coffee shop/lounge idea so that people could sit and drink coffee and look at the fish - and then buy them - lol. I've been putting a lot of though in to what would be cool to go along with the LFS. Any ideas?

Actually I am in the process of this, In addition to my computer business, building spec homes...I am doing a Internet Cafe/Deli, and Fish Store, They have 2 seperate entrances, but have a share a common wall with a 800 gallon display tank for people to enjoy, we are having Fresh/Salt, and Pond supplies, Maint & Installation.
 

tangwhispr

Member
Originally Posted by K-ROK
Yeah I've thought of all the risks and potential downfalls of a saltwater fish store. I had thought about starting it out in my basement as an "by appointment only" type place. This way I would not be paying rent and wouldn't have to pay any employees. I have to find out if this is possible first as I'm afraid the zoning laws may not permit it. Any thoughts about this idea?

Probably not a good idea, as you have a bunch of strange people showing up at your house....and you would need a variance to run it outta your home.
 

gen1dustin

Member
Originally Posted by TangWhispr
Actually I am in the process of this, In addition to my computer business, building spec homes...I am doing a Internet Cafe/Deli, and Fish Store, They have 2 seperate entrances, but have a share a common wall with a 800 gallon display tank for people to enjoy, we are having Fresh/Salt, and Pond supplies, Maint & Installation.
That is a great concept there.
 
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