opening new fish store
- Thread starter dovii_6
- Start date
Completely agree with this! I worked part time in a Pet Store for a few years while I was in school. I don't see anyway A Pet Store could stay open selling cichlids only. The bread and butter are 80% plus of sales. 85% of customers have 29 gallon tanks or smaller and have little to no interest in cichlids. I live in N.C., so keep me updated. Good luck, but I would reconsider your thinking.
How about 'Planet Cichlid', but most customers wouldn't know what a "cichlid" is. Lol.
OP I totally understand what you're saying (I'm not trying to troll), and I think that a store that specializes in cichlids is fantastic, I'm just saying you might want to have other things in addition. It's true, many hobbyists come into stores and are enamored with the cichlids, but 90% of the time they are incompatible with the fish they already have. That being said, many other fish species will work with many cichlid species, and people like to incorporate variety into their tanks. For example, if you're selling African cichlids, many people would love to be able to buy Synodontis cats to add to their tanks. Kribensis cichlids usually work well in a community tank, and discus look fantastic with schooling fish. Not to mention, it's easy and advisable to sell dither fish for certain cichlid communities. And just about every freshwater customer out there wants a pleco or other algae eater. People with snail problems will want loaches, people with hair algae may want flagfish, siamese algae eaters, or amano shrimp.
And if they have to get rid of fish to get cichlids, they are going to want to trade the fish in. By not accepting trade-ins you are only hurting your business. Most stores will often offer store credit for trade-ins at about 1/2 of their sale price (depending on markup). That way the people spend money in your store, and they spend it on products you have marked-up. Take this example:
Assuming both of the products (fish traded in and the new fish) are valued at $10 retail. If everything was a 2x markup for example, they would trade in their fish, getting $5 credit. Then, they spend their $5 credit and $5 cash to buy a new fish, which you paid $5 for. You have just broken even, and you still have a fish in your tank valued at $10! (spent $5 wholesale price for your original fish, gave $5 credit, and collected $10 from the sale.) From a trade-in you have actually made more than you would from a regular sale, and the customer is happy because they saved money and ensured that the fish will have a new home.
Furthermore, if another store gets the trade-in, the customer will be forced to spend money at that store. If you're lucky they get a cichlid there and come to you for the rest. If you're unlucky, they've stolen your customer.
Just my 2 cents from my experience. Best of luck and feel free to ask any questions. That store I was talking about (Marine Warehouse) has an incredible cichlid selection, but they've been in business for over 30 years because they have everything else as well.
And if they have to get rid of fish to get cichlids, they are going to want to trade the fish in. By not accepting trade-ins you are only hurting your business. Most stores will often offer store credit for trade-ins at about 1/2 of their sale price (depending on markup). That way the people spend money in your store, and they spend it on products you have marked-up. Take this example:
Assuming both of the products (fish traded in and the new fish) are valued at $10 retail. If everything was a 2x markup for example, they would trade in their fish, getting $5 credit. Then, they spend their $5 credit and $5 cash to buy a new fish, which you paid $5 for. You have just broken even, and you still have a fish in your tank valued at $10! (spent $5 wholesale price for your original fish, gave $5 credit, and collected $10 from the sale.) From a trade-in you have actually made more than you would from a regular sale, and the customer is happy because they saved money and ensured that the fish will have a new home.
Furthermore, if another store gets the trade-in, the customer will be forced to spend money at that store. If you're lucky they get a cichlid there and come to you for the rest. If you're unlucky, they've stolen your customer.
Just my 2 cents from my experience. Best of luck and feel free to ask any questions. That store I was talking about (Marine Warehouse) has an incredible cichlid selection, but they've been in business for over 30 years because they have everything else as well.
That actually makes a lot of sense and Ur right I probably will keep othrrr fish in there cause I my self in my tanks have synos plecos and barbs I'd be pissed if I couldn't get those at the spot I was buying my cichlids
Sent from my SCH-I605 using MonsterAquariaNetwork App
Sent from my SCH-I605 using MonsterAquariaNetwork App
How bout, "Carolina Cichlid Connection" or "Appalachia Aquarium Supply" for a more generalized name.
Unless you plan on shipping fish, as part of your business plan, you may want to consider a canvas of what most people in your general area keep/prefer, and what size tanks they have.
If there is a local fish club, see what those people want or don't.
I happen to keep mostly Central American and Madagascar cichlids, but what I breed, I basically have to give away, or at best, trade with the few fish club members who like those fish.
When I was breeding haitiensus, other than a few I shipped, I gave hundreds away.
Many of the cichlid breeders in my area drive hundreds of miles to fish shows to sell young cichlids for $3 or $4 each, and I usually go to those breeders, or other club members for fish, very seldom to LFSs.
Most stores rarely stock what I want, because the general public doesn't want, or even know what they are, and if the store orders them, they sit for months in their tanks if they do get them.
If there is a local fish club, see what those people want or don't.
I happen to keep mostly Central American and Madagascar cichlids, but what I breed, I basically have to give away, or at best, trade with the few fish club members who like those fish.
When I was breeding haitiensus, other than a few I shipped, I gave hundreds away.
Many of the cichlid breeders in my area drive hundreds of miles to fish shows to sell young cichlids for $3 or $4 each, and I usually go to those breeders, or other club members for fish, very seldom to LFSs.
Most stores rarely stock what I want, because the general public doesn't want, or even know what they are, and if the store orders them, they sit for months in their tanks if they do get them.
If you have the word "cichlid" in the name, don't get upset when 98% of your customers mispronounce it. (Maybe 99% in NC...sorry couldn't help myself 
)...
The name is important but more importantly:
Have you developed a business plan?
How much of your business will be from your storefront? How much online/mail order?
Have you scouted locations?
Will you be selling just fish or supplies, etc.?
Who is your target customer base?
As for names, I'd choose a few and test them with the folks you want to be your customers (or better yet have someone else do it).
My favorite fish store in our area (since, of course, closed) was called, "Tropical Fish World." The sign out front just said, "Tropical Fish." Simple and prospective customers knew what was there (from like 1986 when it opened to 2010 or so when it closed)...
Matt
)...The name is important but more importantly:
Have you developed a business plan?
How much of your business will be from your storefront? How much online/mail order?
Have you scouted locations?
Will you be selling just fish or supplies, etc.?
Who is your target customer base?
As for names, I'd choose a few and test them with the folks you want to be your customers (or better yet have someone else do it).
My favorite fish store in our area (since, of course, closed) was called, "Tropical Fish World." The sign out front just said, "Tropical Fish." Simple and prospective customers knew what was there (from like 1986 when it opened to 2010 or so when it closed)...
Matt
