Starting my own fish store?

R

reefstore

New member
Hi, I'm looking for advice on starting up my own fish/aquarium store.

I'm a senior in high school, graduating in a few days and going to college in the Fall for Business and Biology.

I've wanted to work in a zoo for a long, long time.

But failing that, I want to have my own aquarium store.

I'm looking for advice on what to do to achieve this. Is a business major a good start? I've been keeping some kind of fish for a long time, so I know at least the basics. I still have a lot to learn about the hobby, and there's no doubt that it'll change a great deal while I'm in college. But I have lots of time to learn - I wouldn't be starting this up until after college, most likely.

So I'm looking for any advice that anyone could give me. Does anyone have their own business? What advice can you give me?

Thanks
 
I would highly recommend you find a reputable fish store in your area to work for. This will give you a lot of hands on experience before venturing out on your own.

Second, there is a lot, and I mean a lot of info in this forum. Find some build threads to read, they can great sources of information.

Knowing the basics simply isn't enough. Think of all the questions that potential customers or existing customers would ask, ie., how do you treat such and such a disease, will these lights work for my system? The list is literally endless.

Good Luck!
 
Being a business major sounds like it would provide some formal education as to what running a business involves, a part time job at a fish store might provide some hands on experience of what it's really like.
 
Alright, getting a job at a LFS definitely seems like a good first step to me, besides, I'm gonna need the money. And I'll be doing a lot of reading!
 
I think you are on the right track with the business major and the part time job. I think the biggest thing to overcome in a business is not having a proper plan and discipline. Good luck!
 
I agree with others: start with a job at a LFS and get a feel for the business. Also, I'd recommend finding a few different small business owners, and talking to them about what their experiences have been, both good and bad. My spouse is a small business owner, and while it's rewarding, it's HARD: 100+ hour weeks, slow times with reduced pay, needing to be on top of all the details . . .

If you talk to a few small business owners, and are realistic about what will happen, and you create a solid business plan based on research, you can likely have a rewarding career.
 
Ok. First thing you will need is money to back you up. It is going to cost you thousands just to get started. A buisness degree will not help your store in any way. Im not telling you not to go to college, im just telling you the way it is. Your goal now should be to save a good amount of money if this is what you really want.
 
ludnix said:
Being a business major sounds like it would provide some formal education as to what running a business involves, a part time job at a fish store might provide some hands on experience of what it's really like.
Click to expand...

Great advice. Being successful in this endeavor is not about knowing the "fish side" of the business. Being successful is understanding business models and profit and loss statements. The best way to make a lot of money owning an LFS is to start with a very large amount of money.
 
Faye said:
Ok. First thing you will need is money to back you up. It is going to cost you thousands just to get started. A buisness degree will not help your store in any way. Im not telling you not to go to college, im just telling you the way it is. Your goal now should be to save a good amount of money if this is what you really want.
Click to expand...

A business degree is essential if you really want to go into this; otherwise you will lose a LOT of money rather quickly.
 
snorvich said:
A business degree is essential if you really want to go into this; otherwise you will lose a LOT of money rather quickly.
Click to expand...

+ a million. It's hard enough to being succesful as a small business owner with the proper eduction. Not getting that education will almost guarantee failure. You are on the right track going to college for a business degree. I was/am a zookeeper for over eight years. I know how competitive it is. Best of luck in either venture.
 
mikecc67548 said:
take some accounting courses and learn quickbooks and dont employ friends
Click to expand...

hahaha...short and sweet and the best advice given on this thread yet. I pulled this open because when sell my current business I hope to open my own reef store. Mikecc couldn't be more right. I have a business degree. I've owned my own business for nearly 7 years. Profitable and debt-free from day one. I'm sure anyone would say it's a successful business, but I'd give anything to go back in time and have someone give me that exact advice.

I had accounting courses in college for my business degree, but it's not really enough. I've spent more money on accountants simply because I didn't trust myself. Had I a better education in accounting I could afford a nicer tank right now!

You end up so dependent on accounting software and Quickbooks is the king for small businesses. It's intuitive and cheap enough to pick up easily, but it takes years to master as it can be very complex. Spend the money up front on at least some basic lessons in Quickbooks and you'll be glad you did.

Whatever you do RESIST THE URGE to higher ANY friends no matter what. The best case scenario for you is that everything goes perfectly and there's never a problem. This won't happen. Worst case scenario is you destroy a friendship and the business you worked so hard for. Anything in between is a pain in the *** you don't need. It's just not worth it.

I applaud your tenacity and forward thinking when it comes to your future. I'm 34 now and I wish I had been thinking like this prior to graduating HS and going to college with a real goal other than getting laid and partying. Not bad goals, but it's good to have some more substantiative ones at the fore-front! Good luck kid!
 
Business training, enough capital, get some OJT all true & good. You can have all that & more, but if your going to run any business that deals with the public PEOPLE SKILLS is the most important single thing. IMO Then there is your ability to be able to answer the same questions over & over, sell livestock to people you know will kill them, spend hours educating some one then learn they bought every thing some where else because it was a buck cheaper, & still enjoy it.

If you have these bases covered then go for it.
 
Just my opinion...

To gain a huge profit off of a small fish store is highly unlikely. Most LFS struggle to balance their budget, most end up going out of business due to bigger competition (online/cheaper big chained stores) swallowing their customers.

If I were you I would start up with a small store in the basement/ or fish room. Sell corals/breed fish and sell locally or online. Then after a few years if that is successful move up and purchase a place and start your business.
 
After graduating with a business degree in management and administration concentrated in entrepreneurship the first thing you are going to need is capital. It's going to take a ton of money right from the beginning to get things up and running.

The other thing that was said learn quickbooks and don't hire friends is great advice. I have been using quickbooks in the small business I work with now and it is a great software for accounting purposes. Take accounting classes in addition to the ones you are going to have to take required for your major and pay attention in them. Good luck

I could go on and on but if your in it to make money then this is not a good business to go into IMO
 
cheap colorful frags will draw them in when on sale, healthy, plump fish at reasonable rates, as well as helping out the local man will bring them back.

Just my 0.02

maybe try what walmart does, tell them you'll match the competition, whenver possible.
 
You must log in or register to reply here.

Similar threads

A
Large reef tank from years ago?
Replies
5
Views
186
polywise
polywise
M
AQma AQuarium Log – New Android app for reef keepers
Replies
0
Views
134
magu
M
A
Aggressive fish competition
Replies
2
Views
109
AidanCfish
A
ClownBubbaJoe
Can I trust My Favorite Fish, A Clown Trigger In A Reef Tank ?
Replies
12
Views
400
lebowski
lebowski
P
New installation / No a new Hobbits
Replies
14
Views
265
Pump_Guy
P
Back
Top