If you check the web, LFS owners post a lot, that:
- running LFS is more to support the hobby, than for profit - expenses are high, and customers are looking for a better deal all the time, so no money for a better personnel,
- we should buy dry goods and equipment from LFS, to support them, because livestock sales are not bringing enough profit,
- LFS in a small city near very big city is a good option: closeness to airport and cheaper, customers from big city will come and stay in line before opening, and almost all will be sold within hour (Mississauga posts at RC),
- club kind of store, with knowledgeable advising owner (geek, running store, in original wording, if memory serves), has less chances, than buy and go away kind (no insult intended, I also prefer to buy and go away).
I know two kinds of businesses, that worked for their owners, not exactly retail LFS:
- mail order only: dry goods, equipment, food; cheaper, better choice, rare finds, next day at your door, after $100 purchase shipping cost is comparable to public transit cost, after $200 - free. No retail expenses, no livestock life support, no customer service boys (they are boys here
).
- started as online frag seller, now has a shop (can't say, retail or online only) with imported corals. $8-12 frag, the corals you rarely will see readily available in LFS (like plain neon-green candycane, white pom-pom xenia and bright red mushrooms), minimum order $100, but the content of parcel is worth of $300. Shipping should be pain in the neck - he sends by Greyhound at 6 AM, and I received at 6 PM, all alive.
But I'm only a customer, just had experience with two last and had seen posts of LFS owners on the web.
Good luck to you!