any advice on setting up an LFS store

[robkob]

I personally think you already have the most important thing.... The passion and love for the fish...

I disagree (respectfully). You need a sound marketing plan. If you don't have one, you are doomed no matter what. There are a ton of replies about customer service and merchandising which are important, but these are all secondary to marketing. I have owned a advertising business for 11 years, and can tell you a million stories about great businesses that failed becasue they didn't know how to market themselves. And there are a ton of businesses that survive with mediocre customer service (petsmart and petco) because they have great marketing plans and resources.

And I disagree with the guy that said don't do it to get rich. It's not a 40 hour work week kind of job. The stores around here that make it are open 7 days a week. That's gotta get old real quick if you are not seeding a comfy retirement. It needs to be very worthwhile financially.

 

[captainawesome]

if I knew of such places around where I live I would definitely go there over the others, even if the prices were way higher. I strongly encourage this idea, and I really hope you do it and do well with it.

 

[filiportela]

good luck

 

[12 Volt Man]

I have 8 years experience in the retail fish trade, and in that time I have learned a few things:

1. good help is hard to find at normal retail wages offered.

2. selection of drygoods is very important, not just fish. You want to try and make your store a "one stop shop" for all the customer's needs.

3. Most of the money is made off of the drygoods area. The livestock area has a lot of losses before the fish even get into your tanks in transit, and not all of this is recoverable.

You CAN make profit but it may take a while to build up a customer base in order to make this happen.

Marketing and proper placement of fish is KEY:

for example, place catfish on bottom tanks so people can see them, place gouramis on top tanks so people can see them too.

If you put catfish on the top or surface gouramis on the bottom, no one will buy them because they can't really see them.

Try and display fish to their best advanatage:

eg. blue/red fish on black gravel.

dark fish on lighter gravel.

Set up some information stations explain how easy it is to grow live plants, set up saltwater etc.

4. Set Up Display tanks in the store is a GREAT way to sell fish.

Have adults on display and stock juveniles. They will fly out the door when people see what they look like when they grow up.

5. there is a balance between selling products/fish and making sure your customer is successful.

for example, even though fishless cycling is the better method to cycle tanks, you can't sell a customer a set up and then tell them to go away for 4 week before they get fish for it.

they will have gone somewhere else long before that to get fish from the competition and you run the risk of losing the customer forever.

So, you need to sometimes do things that you might not normally do in order to keep the business growing.

Hope this helps!

 

[Morledzep]

ps your dog is so cute!

thanks Liz,
Thats my Otis, he's 11 years old this year. That pic was taken last summer.

 

[Red Devil]

I disagree (respectfully). You need a sound marketing plan. If you don't have one, you are doomed no matter what. There are a ton of replies about customer service and merchandising which are important, but these are all secondary to marketing. I have owned a advertising business for 11 years, and can tell you a million stories about great businesses that failed becasue they didn't know how to market themselves. And there are a ton of businesses that survive with mediocre customer service (petsmart and petco) because they have great marketing plans and resources.

And I disagree with the guy that said don't do it to get rich. It's not a 40 hour work week kind of job. The stores around here that make it are open 7 days a week. That's gotta get old real quick if you are not seeding a comfy retirement. It needs to be very worthwhile financially.

I can see why you are in the marketing business because you are awesome looking at the whole picture.. my husband has already mentioned to me a few times.. if we do this be prepared to spend 15 hours a day there.. 7 days a week.. if we do this it is all or nothing.. so yes that kind of dedication you need some finacial reward.. but he also said that you cannot expect to make much money right away.. you do need to reach people.. you do need to market yourself.. either by tv or radio.. you must get the word out that you exist and then have everything they need when the people come so they keep coming back and tell others to come as well.. great info you posted..thanks!

 

[Red Devil]

I have 8 years experience in the retail fish trade, and in that time I have learned a few things:

1. good help is hard to find at normal retail wages offered.

2. selection of drygoods is very important, not just fish. You want to try and make your store a "one stop shop" for all the customer's needs.

3. Most of the money is made off of the drygoods area. The livestock area has a lot of losses before the fish even get into your tanks in transit, and not all of this is recoverable.

You CAN make profit but it may take a while to build up a customer base in order to make this happen.

Marketing and proper placement of fish is KEY:

for example, place catfish on bottom tanks so people can see them, place gouramis on top tanks so people can see them too.

If you put catfish on the top or surface gouramis on the bottom, no one will buy them because they can't really see them.

Try and display fish to their best advanatage:

eg. blue/red fish on black gravel.

dark fish on lighter gravel.

Set up some information stations explain how easy it is to grow live plants, set up saltwater etc.

4. Set Up Display tanks in the store is a GREAT way to sell fish.

Have adults on display and stock juveniles. They will fly out the door when people see what they look like when they grow up.

5. there is a balance between selling products/fish and making sure your customer is successful.

for example, even though fishless cycling is the better method to cycle tanks, you can't sell a customer a set up and then tell them to go away for 4 week before they get fish for it.

they will have gone somewhere else long before that to get fish from the competition and you run the risk of losing the customer forever.

So, you need to sometimes do things that you might not normally do in order to keep the business growing.

Hope this helps!

Excellent .. i will print this out and frame it if i pursue the fish store..valuable things to always remenber and concider..and especially the last one.. because you never let a customer leave your store unhappy.

 

[Red Devil]

if I knew of such places around where I live I would definitely go there over the others, even if the prices were way higher. I strongly encourage this idea, and I really hope you do it and do well with it.

Thank you and thank you everybody.. your all just awesome with all your info..never thought there would be so much solid rock information when i started this thread..i am overwhelmed with all of you.. Just the fact that you all could relate to me so many important issues.. thanks so much and now we will see what happens once we sit down and decide......

 

[ddyerfamily]

GOOD LUCK........I WISH I COULD OPEN STORE.

 

[Red Devil]

GOOD LUCK........I WISH I COULD OPEN STORE.

Thank you.. still have not made the big decision yet.. have to look into alot of things yet....