can aquarium shops still be profitable?

[metalslug]

I just saw the thread on a queens shop go under...was wondering can a shop in nyc really make more than 4k a month? Because in nyc thats average rent now.

 

[koop171]

IMO fish retail is a hard place to be profitable. Unless you have top notch fish and sales people.

It's to easy to get your equip from the internet and for much cheeper. So IMO if you don't sell top nothc fish you won't last long.

 

[JD7.62]

The only shops that are open around me also provide in home service and I think that is where they are making their money.

 

[metalslug]

well, I know that H20(elmhurst queens) is out of business, and I was considering buying it, but certain things seem to be holding the sale. The rent on the place is 4k, which is actually great, but I just want to get a feel of what people may actually think. If this place can actually turn over more than 4k a month to cover all expenses.

 

[Fallen]

You would need to check their books. Could have been just bad management of the business

 

[ANIMALHOUSE]

IN NYC, Petco and petland kill the LFS with prices for food and stuff.

Only thing LFS would have is Hard to Get Fish.

But by far the competition is Fierce.

Petland Every Mile or so apart

 

[ANIMALHOUSE]

Also petland now stocks all the Good stuff i see people talk about on the forums,

From Aqua Clear filters and sump Kits to Diatom Filters and Saltwater setups

Plus you can get a 55 Gallon Stand and Tank for about 90 Bucks

i bought a 75 Gal from Petland for 80 Dollars (tank Only) where my LFS was Selling it for 179.99

 

[metalslug]

ok, the thing is, they owner(owners) do not want my accountant to look over the books...lol...maybe is a sign not to buy but start up small...lol...

 

[jcardona1]

ok, the thing is, they owner(owners) do not want my accountant to look over the books...lol...maybe is a sign not to buy but start up small...lol...

red flag!!! i would think this sort of due diligence is normal when acquiring another business, but i have no experience in this. im sure they wouldnt let you look through everything, but some limited review should be possible

 

[metalslug]

yeah i mean the rent is high, but cheap for the space and local. They quoted me "number" the store did when at its peak. I know he said that the last year they did not profit to problems I wont divulge here, but I at least would like to see the 1st two years to see if I can make up the expenses. I also told him that the books is standard business practice when selling a business.