Business owners!! How did you get started

I am originally from Chicago and Ohio, now living in Florida. I have seen many great aquarium stores up north that have everything you need to get started. Here in Florida where ever you go the LFS locations here never seem to have what you need when you need it. They offer to order it for you, but I can do that. There are two stores here that I will recommend to anyone. However they are both like 30 miles away from me. I would like to try and change that. So I wanted to ask for advice from those who started their own stores. I have four guys that share the same dream as myself. But where would I begin.
Where do you get the money to begin?
What licenses may be needed etc?
Any advice from the pros would be helpful. With your help maybe the dream can become a reality.

 

Bank loans. Might try Geekdafied as he is doing some stuff on the side.

 

Good luck my friend, I pondered that idea once and at least here in Miami, I would have dished out at least $200,000 to start. Plz dont get me wrong, Im not trying burst your bubble, just sharing my esp. You'll need to calculate setting up all the tanks that you will need. Buy tanks already made or go custom. The lighting for each tank. Get good dry goods contact(wholesellers). You need to have AT LEAST 6 months of rent as a back up. Most, if not all LFS, supplement they're income by making custom tanks for their customers and others. Find a good livestock wholeseller. Location...location...location. These are just a few things to think about. Luna

 

I have a plumber, electrician, woodworker, accountant, I can do some web design and have my Bachelors in IT. All of us love saltwater aquariums and are knowledgeable in the hobby. We have great ideas and all share the same vision. So the biggest thing is like you said is the start up money. I am here in Tampa. Would it be better to buy like a small retail location or to lease?

 

If you have the ability to buy a LFS that is up and running and is at a good-great location, that would be ideal. If your able to buy a location, that would be great, but most ppl who start out usually lease at first. Luna

 

I hate when a store does not keep products stocked.Or has out dated stock.

 

Well the hardest part... once you work out all the fun stuff on paper, get your tax, id, and reselers license... you'll then realize that the large stores like Super Pets, Dr. Foster & Gross, PetSmart's, etc... well they will have the power to sell stuff cheaper than you can buy at wholesale prices... I have all my ducks in a row, but when I need to sell someone some equipment, I just go to drsfostersmith.com and order it...

These BIG places have whats called purchasing power. And unless your starting something super huge, there is no way to successfully compete. Especially in Florida! That has to be the hardest place to open a marine store.

If you want to follow your dream, start slow, do some aquarium maintenance, buy some tanks and start aquacultring some corals... find a little nitch, and grow from there.

 

You could try something like a Marine Catering company. Grow/Hatch/Conjure critters in a building/home and try an online or by phone marine maintenance and supply company. You'd have to advertise quite alot to make your existence known, but it's essentially the same result as an LFS. You could hire a delivery boy and get a truck like an old ice cream truck.

My .199 cents and spitting out what's going on in my head.

 

I could share all sorts of ideas with ya...

 

Run don't walk, not to be rude wait till you have some one try to haggle a price with you on coral, fish or dry goods. Then they pull the well I can get it over here for this price my advice go there. Never knew that a store was a swap meet. Then you have the lovely frag fests hmm I would like to see one of them with a license , Dept. of Ag certificate or see if they are paying state sales tax. If you sell it play by the rules we have to. Also most of the really good LFS in this area are gone. I could go on why not to due it, I own RS for one reason only, I love the trade and it is a division of our primary company for reasons you can figure out on your own.