Ideas on how to start an LFS

Guyonthecouch39 · 02/27/2007, 08:51 AM

Hello, everybody.

Ive been having the idea of starting up my own LFS for the past few years and now im actually thinking about doing it. Granted im still a very long way off from making this move, I was just wondering what would be the best way to set up the tanks. Would it be better for all the tanks to be set up to one big system? (One for freshwater, and one for saltwater) I was thinking about doing something like that, and then have separate systems for the coral tanks. Any ideas??

Thanks in advance,
Mike

hammerswinger · 02/27/2007, 09:09 AM

skip it. I used to run a mail order dry goods website and devised many plans for a store front. You will not make that much money for the time you put in. I would recomend you go work in one for a year or two then see if you still like it. This industry will chew you up, spit you out and leave you never wanting to see a fish tank again.

hammerswinger · 02/27/2007, 09:10 AM

And i was doing about 500K a year in sales online, not the biggest but not the smallest either. If you ventuire into online retail expect between a 15-20% profit margin before exspenses which by the way is a terrible margin.

ambaratur · 02/27/2007, 09:10 AM

My LFS has a system just like you describe. The really cool part is that the sumps and refugium for the coral/invert system are visible to the customers and the workers can explain their purpose to help educate.

Also the individual tanks in the large systems can be disconnected from the rest in order to medicate if needed.

And of course you need quarantine / treatment systems in the back.

I am no expert - just wanted to confirm your expectations because my LFS is very good at it.

hammerswinger · 02/27/2007, 09:10 AM

A good business plan is where i would start though.

matter1331 · 02/27/2007, 09:13 AM

From what I've been told by the LFS owners around me (before I moved to Galveston), if you're going to open a store, you HAVE to have a service business as well. I used to work at one and our store was run by the service customers, without them there wasn't enough from livestock/dry goods to keep the store running.

hammerswinger · 02/27/2007, 09:59 AM

thats true. I did service on the side as well. I had 10 accounts and they made me over 1500 per month easy. It took about an hour and a half per tank per month to keep them up and in good shape. Retail is hard, look at all the crybabys on here complaining how much their local stores charge. Imagine hearing those complaints when your income depended on a certain mark up,. Then you have the store lurkers who hang out just to tell customers you have no clue, those are my personal favorites!!!

RumLad · 02/27/2007, 04:01 PM

Could you stand not having a vacation, ever again? Or at least not until you find a person to run your store for you, that you can trust.

And imagine the financial hit an extended power outage could take on your expensive display tanks.

Better off sinking all that time and money into your own private fish heaven in the basement. Much less hassle.

IndyReefMan · 02/27/2007, 05:03 PM

Maybe just stick to drygoods. Check premium aquatics on-line prices and then check how much your local LFS charges for the same item... nice margin. For example, I just bought a four line air pump for aerating my newly mixed salt water at Premium Aquatics for around $20. I saw the exact same pump at an LFS for $65.

Abraham1907 · 02/27/2007, 05:11 PM

If you want to know how to set it up, go to a ton of fish stores, and see what you like the best. Then ask the owner about how they did it and if they would change something if they had the chance. Pick your favorite or a combination of a few and there ya go.

02/27/2007, 08:51 AM	#1
Guyonthecouch39 Registered Member Join Date: Nov 2004 Location: PA Posts: 6	Ideas on how to start an LFS Hello, everybody. Ive been having the idea of starting up my own LFS for the past few years and now im actually thinking about doing it. Granted im still a very long way off from making this move, I was just wondering what would be the best way to set up the tanks. Would it be better for all the tanks to be set up to one big system? (One for freshwater, and one for saltwater) I was thinking about doing something like that, and then have separate systems for the coral tanks. Any ideas?? Thanks in advance, Mike

02/27/2007, 09:10 AM	#4
ambaratur Premium Member Join Date: Mar 2006 Location: Flagstaff, AZ Posts: 776	My LFS has a system just like you describe. The really cool part is that the sumps and refugium for the coral/invert system are visible to the customers and the workers can explain their purpose to help educate. Also the individual tanks in the large systems can be disconnected from the rest in order to medicate if needed. And of course you need quarantine / treatment systems in the back. I am no expert - just wanted to confirm your expectations because my LFS is very good at it. __________________ "God is dead." - Nietzsche "Nietzsche is dead." - God Click my red house for my 125 gal. tank build thread. Member of Northern Arizona Marine Aquarium Society (NAMAS) Current Tank Info: 125g AGA MegaFlow - 150lbs Fiji live rock - 50g DIY sump/fuge - Tunze 9010/9015 Skimmer - Eheim 1260 - 2x Seio 1500 - 5x 80w IceCap T5 Retro - PhosBan Reactor 150 - AC Jr. Controller - Typhoon III RO/DI - Mixed Reef

02/27/2007, 09:13 AM	#6
matter1331 Registered Member Join Date: Dec 2005 Location: Galveston, TX Posts: 167	From what I've been told by the LFS owners around me (before I moved to Galveston), if you're going to open a store, you HAVE to have a service business as well. I used to work at one and our store was run by the service customers, without them there wasn't enough from livestock/dry goods to keep the store running. __________________ Matt 7 gallon sps/clam tank 46 gallon anemone and clown tank 215 gallon sps dominant tank 60 gallon mixed reef Current Tank Info: 7 gallon sps/baby clams, 46 gallon anemones and clowns, 215 gallon sps dominant, 60 gallon mixed reef

02/27/2007, 04:01 PM	#8
RumLad Registered Member Join Date: Feb 2007 Location: Suburban Chicagoland Posts: 794	Could you stand not having a vacation, ever again? Or at least not until you find a person to run your store for you, that you can trust. And imagine the financial hit an extended power outage could take on your expensive display tanks. Better off sinking all that time and money into your own private fish heaven in the basement. Much less hassle. __________________ "If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. " H. D. Thoreau

02/27/2007, 09:09 AM	#2
hammerswinger Moved On Join Date: Jun 2005 Location: USA Posts: 315	skip it. I used to run a mail order dry goods website and devised many plans for a store front. You will not make that much money for the time you put in. I would recomend you go work in one for a year or two then see if you still like it. This industry will chew you up, spit you out and leave you never wanting to see a fish tank again.

02/27/2007, 09:59 AM	#7
hammerswinger Moved On Join Date: Jun 2005 Location: USA Posts: 315	thats true. I did service on the side as well. I had 10 accounts and they made me over 1500 per month easy. It took about an hour and a half per tank per month to keep them up and in good shape. Retail is hard, look at all the crybabys on here complaining how much their local stores charge. Imagine hearing those complaints when your income depended on a certain mark up,. Then you have the store lurkers who hang out just to tell customers you have no clue, those are my personal favorites!!!

02/27/2007, 05:03 PM	#9
IndyReefMan Registered Member Join Date: May 2005 Location: Indianapolis, IN Posts: 477	Maybe just stick to drygoods. Check premium aquatics on-line prices and then check how much your local LFS charges for the same item... nice margin. For example, I just bought a four line air pump for aerating my newly mixed salt water at Premium Aquatics for around $20. I saw the exact same pump at an LFS for $65.

02/27/2007, 05:11 PM	#10
Abraham1907 Moved On Join Date: Oct 2006 Location: Illinois Posts: 167	If you want to know how to set it up, go to a ton of fish stores, and see what you like the best. Then ask the owner about how they did it and if they would change something if they had the chance. Pick your favorite or a combination of a few and there ya go.