Reality of owning a fish store?

This is something that has always made me curious... what is the reality of owning/establishing a fish store? I’m not sure how many/if any people here do more than causal selling of excess fry, but I would like to hear the opinions of people.

I am but a sophomore in high school, entertaining the possibilities of what I could possible try to achieve after college and holding a stable job for a while. I plan to study something in the business realm, perhaps accounting or something of the like. While I know that I could do it if I put my effort into it, but would it be a venture that is worth it? At the moment I’m more of a casual hobbiest with a simple two tanks, but I’m currently restrained by moving every couple years, but I believe a pet-related career would be right for me. I would also be open to having a small section dedicated to reptiles, which I also own.

Something that everyone can answer... what would you want to see other than a healthy stock? Where in the US do you think has a need for a good LFS/enough potential interest?

Don’t be afraid to tell me that opening a fish store wouldn’t be a good idea haha!

 

Small businesses have a high failure rate and if you succeed hours are long, but life is for living

 

I’ve always had the impression that owning your own LFS would be tough. Especially if you are starting brand new and not buying one that has already been around for a number of years.
Just thinking about the bills (water, electric, rent/lease) makes me think it would be hard to really turn a major profit.
However, I think that can be offset some if you branch out and sell online. Maybe not livestock, but supplies and equipment. I think that would be the only way to do it. Especially now with the mass transition to online retail.

 

One thing I've noticed is that you have to have something that draws customers in, something that the chain stores don't have. Otherwise, people will just go to the chain stores. Customer service and knowledge is one part of that. But to give more specific examples, there are two aquarium stores in my area that have done well. One is a saltwater store that sells their own captive bred seahorses, which seems to be pretty unique in the world of saltwater. The other one, which is the one I go to, is a Freshwater store that sells a lot of rare and unique fish. I've seen stuff like Flowerhorns and Freshwater Stingray. They also do custom orders at no extra charge, which is pretty neat.

 

Cory has a few videos where he talks about the business model of aquariumcoop - you could look for them on youtube.

 

My LFS is more of a local pet store. They have an awesome reptile section and rodent section, and also bring in cats and dogs from the local animal shelter from time to time. The fish sections though are definitely the most expansive though.

For me, the draw is that they have a much wider selection than petco/petsmart, the workers are knowledgeable, and they quarantine all their fish prior to display, so I usually only give them an extra week of quarantine, and that faster quarantine period is really nice for me. I trust them and appreciate the care they take with all their animals.

I think wanting to open a LFS is a great idea, the US needs more small businesses. However, after having watched my mother struggle to keep her art gallery open for more than ten years, I can say I personally wouldn’t want to start from scratch like she did. However, if it’s what you want to do it can be pretty rewarding

 

Let’s start with running your own small business no matter what it is you will earn half of what you do now per hour of work you put in, your employees will work there 38hrs a week and get paid their hourly rate you will work at least 80hrs a week and take the scraps left over after the bills are paid you have no sick leave, annual leave or any other entitlements that employees get. So be prepared for that, you don’t run a small business to become rich you do it for the love of that business and the “freedom” of being your own boss.

I looked into buying an established fish/aquarium store and although the business had been established for over 10 years the profit margin was tiny and the hours of work would have been massive. In this day of big chain stores I think it is very hard to make a profit in the industry. The two stores that I use one is a bigger store that sells a lot of stuff that isn’t rare but also not common, they have a really strict quarantine policy and buy back fish stock from good customers but will quarantine for a minimum of 1 month.

The second is a store in an old warehouse this store is only open 3 days a week to the general public and open by appointments other days. She is more specialised imports all her own discus (which are amazing) but also imports special orders and super rare fish. She is expensive but she has half her warehouse setup for quarantine and will have the stock in there for 2-3 months before selling.

Sorry this is so long. I’m a small business owner and know the headaches that come with it.

 

A big thank you to everyone who has responsed

I’ve always had the impression that owning your own LFS would be tough. Especially if you are starting brand new and not buying one that has already been around for a number of years.
Just thinking about the bills (water, electric, rent/lease) makes me think it would be hard to really turn a major profit.
However, I think that can be offset some if you branch out and sell online. Maybe not livestock, but supplies and equipment. I think that would be the only way to do it. Especially now with the mass transition to online retail.

Yeah, that’s a major point. Those bills must be MASSIVE. I agree, having an online store definitely would be needed today’s world. That should be a relatively easy thing to implement, but getting a positive reputation when there is already quite a few online stores out there may be difficult.

One thing I've noticed is that you have to have something that draws customers in, something that the chain stores don't have. Otherwise, people will just go to the chain stores. Customer service and knowledge is one part of that. But to give more specific examples, there are two aquarium stores in my area that have done well. One is a saltwater store that sells their own captive bred seahorses, which seems to be pretty unique in the world of saltwater. The other one, which is the one I go to, is a Freshwater store that sells a lot of rare and unique fish. I've seen stuff like Flowerhorns and Freshwater Stingray. They also do custom orders at no extra charge, which is pretty neat.

Oh wow, that’s really neat! I would love have a local LFS with seahorses. If I were to specialize, I would probably focus on cichlids and the more rare species, likely breeding them as well.

Let’s start with running your own small business no matter what it is you will earn half of what you do now per hour of work you put in, your employees will work there 38hrs a week and get paid their hourly rate you will work at least 80hrs a week and take the scraps left over after the bills are paid you have no sick leave, annual leave or any other entitlements that employees get. So be prepared for that, you don’t run a small business to become rich you do it for the love of that business and the “freedom” of being your own boss.

I looked into buying an established fish/aquarium store and although the business had been established for over 10 years the profit margin was tiny and the hours of work would have been massive. In this day of big chain stores I think it is very hard to make a profit in the industry. The two stores that I use one is a bigger store that sells a lot of stuff that isn’t rare but also not common, they have a really strict quarantine policy and buy back fish stock from good customers but will quarantine for a minimum of 1 month.

The second is a store in an old warehouse this store is only open 3 days a week to the general public and open by appointments other days. She is more specialised imports all her own discus (which are amazing) but also imports special orders and super rare fish. She is expensive but she has half her warehouse setup for quarantine and will have the stock in there for 2-3 months before selling.

Sorry this is so long. I’m a small business owner and know the headaches that come with it.

No need to apologize, it’s great to have input from a business owner! Thanks for the examples you gave. You make a good point, owning a small business seems like a lot of work. A strong quarantine system seems to be a common theme in this thread for very understandable reasons.

 

Other than healthy stock, something I find important is consistency.

There's a fish store where I live that sometimes has almost nothing, and sometimes has nearly 100 tanks full of stock. It's hard to know if I will be able to find what I'm looking for. I've seen them have racks full of tank equipment, as well as completely empty shelves.

In contrast, another local store has consistent and medium stocking--african cichlids, common tetras, bettas, catfish, loaches, shrimp, and gouramis are almost always in stock. They also keep a consistent amount of saltwater fishes, but that's not my area of expertise. Generally they have your standard filters, substrates, foods, etc. which makes it even easier to do all my fish-related shopping there.

Obviously low prices are never a bad thing if you can manage it, as well as locations that are easy to access.

 

The most successful fish "store" owners these days seem to be online retailers/breeders.

You don't need to rent out a space for a store. If you live somewhere where you can build a pole barn or have a full empty basement or something along those lines you can breed and raise fish on your own property. Along with selling fish online you can become a fish supplier to local fish stores as well instead of just selling to individual hobbyists.

Much easier said than done of course. But an actual brick and mortar store seems to be the most difficult and risky way to go about having a fish "store"

 

In my area we have 7 LFS all within a 10 -15 mile radius, and everyone has been in business for years. 2 of them are Petco and Petsmart ( nether 1 do I shop at ) LFS need not only fish, reptiles and birds, they need a good assortment of all the other items that customers will need.

Remember when a customer walks in to buy something last thing you want is for them to walk out empty handed.

 

^^^ I would love to have that kind of variety. I live in NJ and actual brick and mortar fish stores are few and far between (excluding PetSmart/ Petco). 7 that close would be amazing

 

Every one I've seen that lasted also sold other pet products. The only fish only places I've seen with legs are super specialty places.

There is an old joke about pretty much any kind of business... "If you want to make a million dollars in X, start with two million dollars."

 

This is something that has always made me curious... what is the reality of owning/establishing a fish store? I’m not sure how many/if any people here do more than causal selling of excess fry, but I would like to hear the opinions of people.

I am but a sophomore in high school, entertaining the possibilities of what I could possible try to achieve after college and holding a stable job for a while. I plan to study something in the business realm, perhaps accounting or something of the like. While I know that I could do it if I put my effort into it, but would it be a venture that is worth it? At the moment I’m more of a casual hobbiest with a simple two tanks, but I’m currently restrained by moving every couple years, but I believe a pet-related career would be right for me. I would also be open to having a small section dedicated to reptiles, which I also own.

Something that everyone can answer... what would you want to see other than a healthy stock? Where in the US do you think has a need for a good LFS/enough potential interest?

Don’t be afraid to tell me that opening a fish store wouldn’t be a good idea haha!

Cory from has a YouTube video about owning a fish store.

(I know it’s a long video, but I think it would be helpful)

 

Something that’s important to me (which might not be too important to other people) frequent post of a fish stores stock on social media. This might only matter to me because I live an hour and a half away from an lfs so I like to know what they have in stock before I leave.

 

Something that’s important to me (which might not be too important to other people) frequent post of a fish stores stock on social media. This might only matter to me because I live an hour and a half away from an lfs so I like to know what they have in stock before I leave.

Totally agree with this. My LFS is 15 minutes away, which is not terrible (Especially compared to yours) but their website is awful and I never know what they have. Dry goods or animals. This means I often end up calling them to ask about stock, which I'm sure is annoying

 

What do I know of my LFS?
It is on its 3rd owner since I found it.
1st was "bad with money" and sold all his stores to go become an insurance salesman. Mainly bettas and some pigeon supplies catering heavily to the Hmong community. He owned 2 of the 4 betta shops near me at the time.
2nd was BIL of first and only picked up one of his stores. Had a "buy 10 bettas and the next one is free" punch card.. so yeah, fighting fish sales was the major part of the business.
3rd. Current owner. Has a good full time job outside the store. So the store is only open a few days a week. While the betta selection is still top end there is a heavy focus on exotics. (the betta punch cards are gone)

Current owner spends a lot of time at the airport. Either picking up shipments or dropping them off.
He is successful and looking at getting a bigger place.
Why is he successful? He has "guys". At least one in Africa, several in SA, several in Asia, etc. He is not running through American distributors/middlemen as far as I know. So he can get stuff that you do not see very often.
Here is the problem with "guys". You make your order and pay for it. Then you see what fish you get. You do not ask for refunds when they send you something else. This mean you may think you are getting CW111s but you get something else instead. Make sure the value is balances and your "guy" is not just ripping you off.
Specialize. I wouldn't add reptiles as they will take up space and you will be out competed by the local reptile shop in that field.

If I was your age and wanted to run a fish shop:
So when you "take a year off after HS to go travel Europe" Mainly go to Germany and connect with breeders and then hit SA and connect with people and then go hit Asia and hit all the hot spots to connect with fish breeders/catchers. Arrange all your visits before you leave the house.
In HS I'd look at trying to learn Spanish, German, Portuguese, Chinese, and anything else fish oriented. Get to the point you can at least stumble along in it. Find friends who speak it natively to stay in practice (hopefully friends who are into fish).
In college major in something that will get you a job that can pay for a fish shop, minor in business. Working your way through college in fish shops (not big box). If you can intern at a major aquarium we are all jealous of you (nephew in law just interned at Shedd). Work in fish shops now. Save and invest ALL your money.

Employees, you will pay them poorly and they will quit without notice. You are not a bad person, you will also pay yourself poorly, possibly worse than you pay them.

Where to set up?
1. Someplace with a large airport.
2. Someplace that only has big box fish stores.
3. In an Asian community if you are in the US. This is the best place to live if you love fish (it also includes great cook outs).

Always remember "Doing something as a job is the best way to lose passion for something you love.".
Start planning now and always ask "What is wrong with this?" not "How awesome is this idea?"
Good luck and don't break any laws.

Yeah, this is why I want to be a breeder or researcher or even roam South America catching fish for a shop, rather than owning a shop. Someone in one of these fields can probably explain why my dream is not what I think it is.

 

I am looking to operate a LFS one day. I have traveled across several different states and visited LFS. I think many LFS typically run the same concept with little to no variation other than store layout and cleanness. Through my observation, I realized that many LFS simply lack customization to attract customers. Let's take a step back and understand from a novice perspective seeing or hearing the word, "Local Fish Store." Their thoughts that come into mind is a store that sells fish and aquarium goods. They do not see other aspects of the hobby that makes it so great which one will learn much later down the road.

1. Carpentry/Woodworking
2. Aquaponic
3. Paludarium
4. Aquascape
5. New/Rare/Exotic Section

If a LFS had a carpentry section with carpentry tools for customers to build their aquarium stand, then I think it would be a wonderful idea. Sign a waiver form, have dimensions guide posted so the customers will know how to build their stand with minor amount of measurements. In order to attract customers, I think LFS should have a barrel full of old water for people in the gardening hobby can come into the store and get 5 gallon buckets of it for free. Furthermore, I think there should be a lot more customization options for Aquascaping where hobbyist can use an open space aquarium to put rocks and wood together to design their scape prior to purchasing. In addition, a Paludarium setup would really intrigue customers. Lastly, for experience hobbyist, a new/rare/exotic section for fish, plants, corals, etc would make customers looking for the next best thing about the hobby be intrigued to create a new setup.

I know I am posting about my business idea, but I do not care because I want to help this hobby, and I do know if I will ever accumulate the cash needed to start one. I think LFS focus way to much on free knowledge and selling fish. A fish got to have more. Just my honest opinion.

 

Sadly, I believe it's all about location, location, location. The neighborhood will dictate the final decision re what kind of lfs, if you want to succeed.

 

I think handing a customer a Sasquatch circular saw and letting them build a stand is a way to lose an expensive circular saw and to get sued out of existence when they fail to follow safety rules. I doubt a waiver will save you. They may also sue you years down the road when they lose a bazillion dollars in fish and suffer damage to their house when the rack they built at your place fails.
You also give up tons of fish space for the workshop that will have few people using it. Maker spaces are already around, I'd let them shoulder the risk.
If I was going to put a workshop in my LFS I'd use it to make BIG custom tanks.

I'm not sure about using space to store water change water when that space could be used for more fish. Now just having a community garden next door where you pump your waste could work. Charge extra for plots as it is "organic".

LFS has an aquarium "sandbox" for people to play with decor. No one uses it.

 

I want to see many/exotic fish, lots of live plants(for sale), beautiful, clean and well maintained display tanks lots of hard scape (including driftwood) and knowledgeable staff.

 

I think handing a customer a Sasquatch circular saw and letting them build a stand is a way to lose an expensive circular saw and to get sued out of existence when they fail to follow safety rules. I doubt a waiver will save you. They may also sue you years down the road when they lose a bazillion dollars in fish and suffer damage to their house when the rack they built at your place fails.
You also give up tons of fish space for the workshop that will have few people using it. Maker spaces are already around, I'd let them shoulder the risk.
If I was going to put a workshop in my LFS I'd use it to make BIG custom tanks.

I'm not sure about using space to store water change water when that space could be used for more fish. Now just having a community garden next door where you pump your waste could work. Charge extra for plots as it is "organic".

LFS has an aquarium "sandbox" for people to play with decor. No one uses it.

As with everything, there are safety protocols to follow in any business. A waiver form is important to protect the business from any liable damage because the customer understand that they accept all the risk involved. It should be written clearly and concise about DIY setup and not responsible if the stand collapses. Technically, I think a lot of space is not needed for woodworking due to the customer can supply the wood themselves. A business should always do risk assessment to minimize risk and to succeed where others are scared to dive due to what you have mentioned. It is no different than buying a new Aqueon or Marineland aquarium, the tank goes kaboom, floods the house, etc. They clearly state they are only responsible for the replacement of the tank. Not the inhabitant or water damage to the house.