Just curious

[Dinosaur]

Did anyone of you ever though of starting a marine business?

If yes, what is your constraint besides money?

[Ian]

Yes! me and my friends.

While looking for shop location, the flowerhorn virus started and a plague of LHFS appeared!!!!

[harlequin]

Actually did thought of opening up a reef shop years ago. Specializing in reef setups for 150G and above.

But you've to give up lots of things, especially time. Weekends and public holidays are gone permanently.

Lots of overtime, maintenance and manpower.

Singaporeans tend to be cheapo when they buy things, always ask for discount.

Which means that you have to strive on enough margins to make or break.

[Achilles Tang]

I guess the standards and knowledge of contemporary marine tank-keeping will improve at LFS.

I suspect a lot of hobbyists are more knowledgeable than LFS. Or they are selling stuff that doesn't work and so get repeat customers. I guess that's the only way to make money.

If I opened a fish shop, I'll probably go broke coz I won't carry a lot of stuff.. heh heh!

Do you think I should open up a shop? Who will support me?

AT

[harlequin]

AT,

If we hobbyists really go open a reef shop, i guess we will all go broke very fast as we won't be selling anything thats good as all the good stuff goes into our own tanks.

Some of the LFS are just making a quick buck without ever thinking of the end result of the customer.

[Dinosaur]

Yes! me and my friends.

While looking for shop location, the flowerhorn virus started and a plague of LHFS appeared!!!!       

My 2 cents is that location is not really an issue when such specialised trade is concerned. We the crazy hobbiest will just flock the place.

The next question is where to find supplier?

<_< anybody ??

[Dinosaur]

Actually did thought of opening up a reef shop years ago. Specializing in reef setups for 150G and above.

But you've to give up lots of things, especially time. Weekends and public holidays are gone permanently.

Lots of overtime, maintenance and manpower.

Singaporeans tend to be cheapo when they buy things, always ask for discount.

Which means that you have to strive on enough margins to make or break.

If its really a hobby it is then not sacrifice. How many people can really do what they like, do what they enjoy? Miserable ...... most pple only work for survival.

[Dinosaur]

I guess the standards and knowledge of contemporary marine tank-keeping will improve at LFS.

I suspect a lot of hobbyists are more knowledgeable than LFS. Or they are selling stuff that doesn't work and so get repeat customers. I guess that's the only way to make money.

If I opened a fish shop, I'll probably go broke coz I won't carry a lot of stuff.. heh heh!

Do you think I should open up a shop? Who will support me?

AT

kekekekeke .........

[Chris]

IMO, if you really like marine or reef, you won't like to sell these things. Instead you like to keep them and watch them bloom and you will be reluctant to let them go, especailly to people you think who may not know how to treat them well. So, I won't do well selling marine or dogs. I will pick who is capable to look after before selling. Finally, must close shop cause got no business.

IMO, I think a lfs owner must know a lot but not like marine so much....no emotional attachment to the stock coming in, only the cash register. Also, conscience to offer genuine advice.

I'll just keep to my job and think of it as a mean to my end, setting up a nice aquarium at home.

[Dinosaur]

IMO, if you really like marine or reef, you won't like to sell these things. Instead you like to keep them and watch them bloom and you will be reluctant to let them go, especailly to people you think who may not know how to treat them well. So, I won't do well selling marine or dogs. I will pick who is capable to look after before selling. Finally, must close shop cause got no business.

IMO, I think a lfs owner must know a lot but not like marine so much....no emotional attachment to the stock coming in, only the cash register. Also, conscience to offer genuine advice.

I'll just keep to my job and think of it as a mean to my end, setting up a nice aquarium at home.

Thanks Chris,

But I also understand there is a limit to what a tank can take regardless how big it is. Of course, you get the advantage to keep some and share the rest (with some profit, of course )

This is seriously a highly addicting hobby Ya knaw!

[victorp]

Starting a business related to your hobby is good as it is an incentive for you to work harder and not give up along the way. Of course, you must be willing to sacrifice your social life especially during the early days of your business. Also, you must enjoy helping out your customers with their setups - dishing out good information, showing them what to do and not to do, etc. will ensure repeating customers and new customers as well (a good and updated web site of your business with good information on marine setup and the like will help tremendously). First impression counts a lot!

Besides the above, you have to be mindful of your business operation; keeping track of inventory and cost are most important, and do not neglect your accounts and book-keeping - you must be diligient or else when the time comes for reporting taxes, it will be a big headache for you if you don't keep your books properly.

Try not to start a business alone; get an additional partner or partners who have similar goals and visions (you and your partner(s) must agree on these and how to attain them so that conflicts can be minimised later).

I feel that location for a marine business is not crucial as long as there is convenient transport (and parking spaces) nearby. As long the space is sufficient for your stock display, office, training/demo/social area (if your business is customer-oriented - strongly recommended), and the rent is low, it should be okay.

In addition, like every other business, you will find difficult customers and some may even drive you up the wall *but* never loose your cool and try to back out of the deal (in this case, a reasonable white lie will not really hurt ). Of course, it will be excellent if you can perserve and persuade these customers to your side.

(Disclaimer: these are just my opinions)

[pospeh]

I really commend those ppl who are willling to start a marine lfs.

You have a fixed overhead in terms of rent and utilities that will cost thousands of dollars per month, plus you need to earn enough to pay for your own and your assistant's salaries.

I have no idea what margins they would earn on livestock, but there is also a high risk of losses due to disease.

You also have to have sufficient stock of dry goods and equipment that will easily tie up thousands of dollars, plus all the initial overheads in setting up the holding tanks and show tanks.

They must be under a tremendous pressure to earn enough money to pay all the bills and feed their family.

Add to this the fact that it is NOT a business that you can ever realistically hope get rich at.

So lets give those LFS owners a clap of hands, and support them as much as possible.

Without them, no hobbiests would be able to buy livestock and equipment, and without the guaranty of the steady income from the LFS, the wholesalers would not be able to exist either.

[woonming]

hmm ! i hate accounts !!! so buz is bad trade for me ...

heheh but i have seen my managers at my hotel selling his LH babies for like $20 per babies to fish shop at one time and he had like a few thousands of them ...

also i know people also breed beta (fighting fishs) and sell them ....

hehe!

Yes! me and my friends.

While looking for shop location, the flowerhorn virus started and a plague of LHFS appeared!!!!

hehe so ian u going to sell LH !!!!

[anakjoh]

I guess specialist will find it difficult to open shop because u will get all sorts of customers - some only want a nice tank without 2 much work - some will make do with bare minimum without excellence. If u are in business, u can't choose yr customers. Can u conscientiously sell stuffs to irresponsible reefers knowing very well death knocks at their glass tanks?

[victorp]

Can u conscientiously sell stuffs to irresponsible reefers knowing very well death knocks at their glass tanks?

In this case, go ahead and sell the stuffs to them if they insist *but* at every opportunity during the sale itself, warn them the dangers again and again, and let them know you will not be responsible. Make sure you state your warning on the Invoice and ask the customer to read and sign it; keep a copy!

[Dragonet]

I have the contact details for several marine livestock suppliers! Details copied by a friend from shipment boxes left outside LFS in Lor Halus. But I suppose an import license is needed before we could do anything.

[dodo]

hmmm...seems like we are having a start in certain areas contact details...etc as for import license...i thk it applies to the LS suppliers only...y do retailers need import license for????

[Dinosaur]

hmmm...seems like we are having a start in certain areas contact details...etc as for import license...i thk it applies to the LS suppliers only...y do retailers need import license for????

Yes, I believe a license is required if you plan to import directly instead of getting from local importer (more expensive). I have though of a fairly good location, new and spacious but deserted. Rental should be relatively cheap, as the whole shopping complex is empty except a shop & save on the basement.

Think of it, cheap rental, fully air-condition building, although deserted, but should not be a problem due to the nature of such businesses.

Ps: I am not thinking of starting one there, no marnne. Just wanna share.