any pet store owners here??? i would really appreciate the help. ex or present

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scalesandfins

Feeder Fish
MFK Member
Apr 22, 2010
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sportsmans paradise
ok so the pet store my fiance works at is brand new. about 6 months old. but the owner is tired of it bc her husband that started the store left.... so im thinking about buying it.... she offered 50grand for shop and everythin in it. but the manager and my fiance are goin to inventory everythin and see whats actually in there and make her an offer.
i have been goin back and forth as to weather i should buy it or not. i have been wanting to own my own business for a while and a pet store is right up my alley. i honestly think between me my fiance and the current manager (a good friend i have know for about 6 years so i trust him) we could get that store in business and make some money. but they seem to think we wont make money for a few years....
i want yalls opinion. i know some of you have been in this situation and some of you may have passed it up or takin the chance.... i always try to live with no regrets and i have a feeling if i dont do this i will regret it for quite some time.
so what do you guys think we should do?
oh and i would stay at my current job for a while till we got it goin good.
 
i own a pet store. dont worry about the inventory. what i do is sneak in other pet stores and take the live stock and other products and stock my shelves with that. its 100% profit. thats a great percentage that nearly no store can do. its fool proof.
 
So, pet stores and hobby stores are hit hardest by rough economic times. People tend to cut back their hobbies and focus on necessities. Selling a few mollies or guppies won't pay the rent, so make sure that your business plan allows for slow times, rough months, and bad economies. Here are some helpful links no matter what business you're in:

http://usgovinfo.about.com/od/smallbusiness/a/whybusfail.htm
http://www.gardnerbusiness.com/failures.htm

You need to remember that it's a business and it needs to be separate from the hobby. You need to look at everything as dollars and cents. A tank with an amazing fish for 1k doesn't do anything compared to the tank of african cichlids that sell for $8 a piece all day long. Look at it as dollars/gallon and compare that with cost/gallon to operate. Make smart decisions based on those principles, and you'll have a much better shot at making it out of the first few years.
 
thansk for the tips guys.
bee, thats a great idea! and in a few months i wont have any competition! yeehaw!!
clay, yes they do get hit hardest BUT, texas hasnt seen much of the hard times compared to most states. this store actually gets a good amount of business its main prob is the current owner. and its a exotic pet store. no fish at the moment. i might add a few tanks for bread and butter fish tho.
hahahaha kev! i told tom that yall are moving to texas!! the fishing is better here and yall can run around and take out my competition :)
 
bump!
 
Go for it. Are you in San Antonio? The stores here are awful and they are always busy. If you can open one and show the customers a good store, you'll make money. The one I work at right now has had many opportunities for success but the owner passes them up because he is a cheap ass. He is afraid to spend a penny even when he knows he can make a huge profit. Yes there is a big economic crisis going on right now but I see people buying 55 and 125 gallon (complete set ups) every day I work.
 
You need to look at the books ! if the store does not already turn a profit you Will loose money f a s t ! and most businesses don't make a profit for the first year or 2 so be prepared to add more cash until it pays for itself. livestock is usually a break even thing at best when you consider feed, deaths water changes and your time. the money in owning a lfs is in the hard goods, tanks, filters, stands, supplies etc most people now days shop at the chain pet shops because they get a better deal on food and supplies than what you could give, the chain stores buy supplies by the semi load from each manufacturer, a small lfs buys by the pick up load you will have a hard time competing with that. Do not let any of that discourage you because a quality lfs will always be in demand. you will have to find a way to stand out above the rest.
 
This is one of the ideas I had for a retirement plan! it's still 20-30 years off but it would be a nice change of pace from the business I have now. There are a few nice LFS around here but some real crappy ones too. I think I could compete.

One thing I noticed around here is that while many of the stores sell setups, none of them seem to showcase them. They feel like an after thought. the largest tank I see stocked are 75's usually and even then it's only one or two. There is a store here that sells consignment tanks larger than that but I have not found a store that I can walk in to and buy a 125/150/180 complete brand new and take it with me.

Another option is to pull a Gordon Ramsey and ask the locals here or on the street what they are looking for in a pet store that they can't find. Get a reputation as the "go to" store for a certain item and go vertical from there.
 
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