I Need Feedback on my Business Idea.

First a little background. I am a reasonably successful practicing attorney now. In a former life however, I was a leather technologist. I ran a factory that made enough leather for about 5000 pairs of shoes a day. My father is now retired, but he has a lot of experience in manufacturing, particularly wood products.

I'm telling you all this to help focus the discussion. I'm considering starting a business. I have some resources and a lot of experience making good products. I have limited, but ever growing experience in reefkeeping.

I want to build aquariums. In particular, I feel like the stands available these days are an afterthought. I believe stands can be made higher quality, they can be much, much more accessible. They can be thought out to accomodate what is going on in our tanks. The stand should also cleanly integrate the lighting for the tank.

Too many folks have to either get an engineering degree, or suffer through a disordered, tangled mess. In addition, the systems on the market are just not aesthetically pleasing. I think we can build tanks in the U.S. that are both visually and functionally better than anything available from Europe.

I have several competing plans right now. The ones I currently prefer are to offer (a) stand with integrated reef controller (purchased from current manufacturers), ATO, heater, and integrated sump, or (b) the above plus return pump, plumbing, and tank (probably acrylic since I have an acrylic manufacturer and it ships better). The third plan would be to integrate lights, vortech for circulation, skimmer, and optional dosing pumps as a complete plug and play package.

I expect to price towards the higher end. I want to build, in return, the visually and functionally best reef ready system on the market. Solid wood, selectable custom finishes, furniture matching capabilities, etc.

Please pick me apart. Tell me everything you would like to see, everything wrong with the idea, and everything you can think of that would make for a better product.

 

This sounds like a very EXPENSIVE stand. All the componets are high end and having to buy them all at once would put a pretty big dent in the pocket book. A lot of reefers are on budgets and piece together a project instead of forking out most of the cash up front. Not sure how practical it would be and how much business you would get. If you were to do it as a side thing that would be great but if it was a full time deal im not sure how much cash you would have coming in.

 

I think it is a fine idea. Ryan, you have to understand, most people with the really "high-end" setups, don't partake in the Forums, other than "check out my 6000 gallon tank!" Most people that have the $10,000+ setups did not build it themselves, or pick out the equipment. They went to a store, and the store sold them what they carry. There are exceptions.

I think this could be a great plan! I enjoy the process of the build myself, but for those that don't want to DIY, don't care, or just can't, this is ideal! Go BIG or go home!

 

Ryan, thanks for the input. A quick response just to include my thoughts in the mix.

1. The complete integrated system would indeed be expensive. That is one reason I'm considering selling with less already included, at least as an option. That said, I can significantly beat Elos pricing. I don't know how big the market is for a top of the line product, but it must be there.

2. While it would initially be a small operation, I would not get into it if it was doomed to be that permenantly.

 

Haha, thanks! Go big is definitely the plan.

 

Yes there are lots of people that buy big expensive systems because they dont want to build them. I guess it would be all about how you market into the population that you are trying to sell to.

 

A nice stand and clean all in one system can really "make" the tank so to speak. You can have a beautiful tank, but without a nice stand it just isn't complete in my eyes. I think its a great idea as long as you can find the clients willing to shell out that kind of money.

If you can beat out elos in price then i think it could work. I see your in Houston, there has to be some people there willing to buy. Around here it probably wouldn't work so well (iowa).

 

Are you planning to market/sell these online, or in a local market? I'm afraid that the people who would spend this kind of money for a high end, plug-and-play system are the kind who would just walk into there LFS and buy whatever they can put together with a maintenance package. Not really the kind who are going to research the internet to find the system they want. In the right market with the right high-end clientele, and partnership with local retail outlets, it could work.

I would think a better plan might be to offer some decent stand options, or even plans or kits, for the hobbyist who wants a furniture quality, semi-custom stand that fits their system, accomodates all the hardware, cords, ventilation, etc but doesn't want to hire a custom builder to do all the work for him. Those are the people who might find you online, and be willing to pay a little more for a stand beyond the basic mdf crap that are usually offered.

 

personally, i think that there are two different markets out there, one of which this would work for and one that it wouldnt.

for the consumer who is higher class and will just shell out the money in order to get a system in their house, they are the kind of person that would rather have it set up instantly and have nothing to do with the running of it, for this, they would be aiming towards a FOWLR tank, one that you could setup as a whole plug and play system, but that varies from a REEF tank.

for the person that wants a reef tank, that is the consumer that will not buy this setup, they are more of a DIY kind of person that is going to take the time to do the research and set up a tank the way and take care of the reef in the way that they want.

(PHD in marketing) just fyi

 

There are loads of integrated systems on the market doing quite well as reefs. I just don't think they're very good. I think we can do better and make them look better.

I think if my target price was $10,000, you may have a point. It isn't. I think I can sell equipment at less than the current high end, but do a better job (I don't have to import).