Today we are going to see a great business. It does not only offer goldfish for homes but also allows us to have many larger clients, such as medical offices, shopping, etc. It has large aquariums and therefore requires maintenance services and more quantities of fish. While it can be a tricky business to start, but with passion. You can have a very profitable and rewarding business. Let’s know how to start an aquarium shop.
How to Start an Aquarium Shop
The aquarium business is perfect for those people who have a passion for fish and everything related to them. You also have to be a patient person, because although it is a profitable business, it is often a bit annoying to clean tanks or aquariums.
What happens during a typical business day?
Some of the most common tasks performed are:
- Feed and care for fish, plants, and tanks to maintain attractive sales displays.
- Receive shipments of new cattle / acclimate new fish to their display tanks
- Maintain the inventory of new tanks, accessories, and food.
- Provide friendly and useful service to any client without prior appointment.
- Reconciliation of sales receipts and daily invoices.
- Offer home services for large customers with fresh or saltwater aquariums.
- Investigate custom orders for exotic fish and new aquascape designs.
- Maintain and train your person.
What is the target market?
The target market is divided into three types, families looking for cheap and easy-to-maintain fish. Then fishing enthusiasts looking for large aquariums and exotic fish, and commercial customers looking to fill large aquariums with all types of fish.
How does a pet fish store make money?
Today the profit margins can reach up to 100% on the sale, although the costs of water, the loss of fish and electricity can reduce that percentage a bit. The most significant benefit of this business is in the different home services that are provided. These services can also provide water analysis, water treatment, aquarium decoration, etc.
What is the growth potential for a pet fish store?
It is a business that offers excellent opportunities, so you can have a small store and expand quickly (if you wish) because as I mentioned, it is a business that leaves up to 100% percent margin. Also, it is a business that aims at a market with high purchasing power, so its growth potential is very high.
What are some skills and experiences that should be had?
Some of the skills that must be had to achieve success are:
- Excellent knowledge and experience in the care of aquariums and fish.
- Basic Accounting Skills.
- Excellent customer service.
- Good cleaning standards.
- Strong organizational and leadership skills.
- Ability to build relationships with suppliers and repeat customers.
What are the investment costs for a pet fish store?
To open a small business, you need between $ 50,000 and $ 100,000 in investment, where everything depends on what type of fish you sell. Species that are saltwater and more exotic can increase their costs exponentially.
How much can you charge customers?
Most customers will buy food and gravels, which are usually sold between USD 7 and USD 45. Exotic species can be sold between USD 100 and USD 1,000. The good thing is that they do not need to be stored. Then for home services, cleaning a simple tank can cost between $ 60 and 80 dollars.
What are the monthly expenses for a pet fish store?
The monthly expenses will be water and electricity. Taxes should also be taken into account, which may vary depending on the area.
How much profit can a pet fish store generate? Earnings can vary greatly, but a fish store can generate profits of between $ 100,000 to 190,000 dollars annually. If it offers manufacture and installation of aquariums, the profits can reach up to USD 400,000 per year.