Money Made By Fish Store Owners

  • We are currently upgrading MFK. thanks! -neo
CHOMPERS is right. Just because you have a degree in fiance, accounting, economics or business, it does not really mean anything. Most business owners are English and Engineering majors anyway.

My dream is in one of the most riskest business out there: nightime entertainment. Just the setup alone of a nightclub will cost me about half a million. To give it a distinct or non-cookie cutter layout will cost me a another quarter of a million. Stocking everything and operating it will cost me more than the setup and layout alone. Not to mention, it is a high risk market since there are numerous competitors and many fail and shut down within the first 2 months. Most nightclubs don't even get a return or break the margin until their first 5 or 10 years in. The chance of a business like that to survive for that long is minimal. Yet, I still choose to persue this.

Ever wonder why most business owners are old or retired? Ponder on that for a moment.
 
Facts and Myths:

Fact: Over 80% of businesses fail in the first 2yrs. If you can make it past that you are ahead of the curve. FACT

Fact: What you will learn in the first year of owning a business will be more than ANY educational experience OVER YOUR ENTIRE LIFE. FACT

Fact: Being a 'new start-up' you are automatically starting at the bottom of the ladder, even if you are more 'honest' than the others doing the same type of work. Their name is out there yours is NOT. FACT

Myth: Sorry to say Chompers, engineers aren't the most well rounded people. Since we are speaking in generalities, they are usually the most narrow minded and egotistical. I do not know you on a personal level, and happen to agree with 90%+ of what you put on the forums; I would say you are the exception to the guys I deal with on a daily basis. I think a person with a well rounded background and an overall 'bright' person makes what his/her success in life will be.

If I were to start a company today or had $$$ to invest gotta go with something that CANNOT loose. In the USA today there are fewer and fewer AUTOMATICS. What I see: Medical, specialty financial markets, and property (commercial/housing).

My experience, just so you don't think I am pulling it out of my keester: Sold my first co @ 25yrs old (no wasn't internet co.), second business partnership got out luckily of bad deal @ 29yrs. old. Now I work for the MAN. Do I wish I was the owner/boss - yes and NO. You live and die with it, it can OWN you. Imagine the days you have now good and bad, just multiply them by 10 or 20. And if you do truely care about the business like a child you will laugh and cry with them ESPECIALLY IN THE BEGINNING!!!! And if you have owned a business for any length of time - you will never have an issue getting a job with THAT experience.

-I will now get off the Soap box.
 
brown_eye_crushers25;739096; said:
Myth: Sorry to say Chompers, engineers aren't the most well rounded people. Since we are speaking in generalities, they are usually the most narrow minded and egotistical. I do not know you on a personal level, and happen to agree with 90%+ of what you put on the forums; I would say you are the exception to the guys I deal with on a daily basis. I think a person with a well rounded background and an overall 'bright' person makes what his/her success in life will be.
Click to expand...

That is more to do with the culture attached to those fields. You will find a lot of trade and engineering people have that attitude. However, when it come to education, it is well-rounded... except for English. Almost every engineering students I met have horrid understanding of university-level English. Other than, they are more rounded than majority of the fields.

It depend on what you define well-rounded anyway.

Anyway, if you decide to become a LFS owner -- good luck, you need it. The only LFS in my hometown is that annoying Petland corporation. Other LFS tried to start up, but the only ones that managed to stay afloat are the bait shops or converted to dealing dogs, birds and cats exclusively.

Face it, people are more willing to spend more money on a good quality dog than a rare fish or a goldfish in its prime condition. To a lot of people, fish (and reptiles) are temporary pets.
 
TheBloodyIrish;739789; said:
Face it, people are more willing to spend more money on a good quality dog than a rare fish or a goldfish in its prime condition. To a lot of people, fish (and reptiles) are temporary pets.
Click to expand...

if talkng in general terms (and i beleive we are), I'm afraid I have to agree with you, bloodyirish. very unfortunate for people wanting to put up their own lfs. A lot of people think of fishtanks as wells we throw money in.
 
Soo I live in Gresham Oregon and CB's fish store makes a damn good living.. the guy who owns it doesn't come from money at all.. His fish a very reasonable priced, along with his tanks/supplies.. he also does a lot of the local office buildings with there tanks. But he just bought a 1.2 million dollar house, owns a denali and a corvette both with extra's on them.

I'm not saying that every fish owner is like this... but there are some that are doing very well
 
I dont know, but I do know that I'm getting $20 for my red belly piranha trade in on saturday, and they are going to sell him for around $80... they have ones slightly smaller with no where near the coloration at about $80... kinda sad considering I'm a loyal customer there lol..
 
some interesting responses on this thread.

and a big lol at the high and mighty engineer. why is it that every engineer i know or went to school with thinks they have the answer to everything?

anyway, back to the thread.

if you are truly interested in opening a LFS, don't do it for the money, at least not in the beginning. that will only come after you've established yourself, normally taking years to accomplish. i thought about opening a LFS last summer, but after analyzing everything (especially the competition and my handicap, i'm white in a generally thai/chinese dominated marketplace) i decided to stay where i'm at. i was ready to get started with a 500K warchest, but i didn't think it would be enough.
 
First off this thread is about 6 months old, but since it is at the top of the list again I guess it's worth a reply.

At the local pet store where I used to shop they had a pretty big fish selection, but like others here have said the profit comes from things besides the fish. Alot of their money came from dog/cat food, selling exotic reptiles, turantulas, etc. Also they did maintenance on people's tanks and outdoor ponds.

But most of their money came from doing live shows for kid's birthday parties, at schools, and whatnot. They would bring some interesting animals and show them to the kids, let the kids pet the baby alligator, hold a snake, stuff like that. They traveled all around the east coast doing stuff like this, almost like Steve Irwin (RIP) or Jack Hannah and the kids loved it, and so did the parents.

So it just goes to show you that owning a business is alot more involved than just setting up a store, stoking it, putting up a few ads in the local paper, and hoping people show up and give you their money so you can pay your bills. Just my thoughts.
 
the one i worked at...made no money at all..2000 was good for a saturday lol
 
Zoso;738863; said:
Just so you all know, you will make no money. As a matter of fact, owning a pet store triples your chances of contracting leprosy. So do not start up a business. Especially if you live in the NE PA area.

j/k It would be good business sense to scare prospective entrepaneurs away!


I was thinking about starting up a Fish store/ breeding/ pond construction and maintenance business, i figure if you do a little bit of everything, you will get by. Was also considering doing electrical and plumbing, and landscaping, as one must be proficient in these to do a good pond.....maybe a little building maintenance......all of course after i get my bachelors in aquatic biology..... and do a fair amount of field work and build capital.
Click to expand...
leprosy, what is this india. i thought that whent away here in the states long ago. what would you get it from a customer with his arm falling off?
 
You must log in or register to reply here.
MonsterFishKeepers.com
Top Bottom