Opening a shop - Aquatic supplies -Advice?

Malt_Vinegar

Malt_Vinegar

Malt_Vinegar

Don
Joined
20 Oct 2002
Posts
17,190
Location
In a house
Hi Everyone!

I am fed up of my "career" in IT, I am 26, and earning a mediocre salary, commuting long distances, not enjoying my work anymore and genuinely looking to move my life to another place, where I work for myself and do things the way I want to.

As an avid lover of all things fish related, I have decided to start looking into opening an aquatics store near to where I live. Possibly with some form of online selling aspect to help increase sales.

Has anyone else here set up their own retail business, and perhaps save me learning some of the lessons the hard way! What pitfalls am I going to need to avoid??

Once I have some read around the subject, and compiled all my research, I will be creating a business plan, and looking for a small business loan to raise the required capital for the startup.
 
I have a few friends who do this for a living. You should speak to some small independant aquatic retailers. Its not easy and if you're stocking livestock, certification required IIRC and a lot of capital needed.
 
Thanks :)

I have downloaded a Barclays Business startup guide, and am ploughing through that. I am also having a look around the area of units for rent, so I can work out pricing, and what sort or size shop floor I would require.

How important is location? Would an aquatics shop really benefit from being in a high footfall area, as in my experience I tend to seek them out to make specific purchases.

alexthecheese said:
I'd do some work up front and set up an internet shop for it at the same time. Then at least you don't solely rely on people walking through the door.
Click to expand...

Not a bad idea. I would probably intend to have the online section open the same day as the store, all things being equal :)

panthro said:
I have a few friends who do this for a living. You should speak to some small independant aquatic retailers. Its not easy and if you're stocking livestock, certification required IIRC and a lot of capital needed.
Click to expand...

Im aware its not easy, and yes I would be stocking livestock. Initially only fish though. Not really into Reptiles/insects/spiders. Can you elaborate on the certifcations required? I would like to have a look a the regulations, and do some reading!
 
Last edited:
Good luck! Having just got into tropical fish I am always down my local shop buying various bits, didn't realise it was such an expensive hobby! Having looked on a well known auction site you can get food on there very cheap, but i do prefer supporting my local shop
 
Going straight to a shop setup means you'll incur high fixed costs straight away, in addition to the costs of buying stock, while your cashflow could be very inconsistent.

Starting online only might be a better idea if you have some storage space for stock.
 
Dolph said:
Starting online only might be a better idea if you have some storage space for stock.
Click to expand...

Or even look at some sort of drop shipping arrangement.

Or maybe approach an existing aquatic company and ask if you can run an online operation for them. Just make sure who's responsible for what is well set down (if you can dig out some of Spie's posts on the early days of OcUK you'll find out why).
 
Dolph said:
Going straight to a shop setup means you'll incur high fixed costs straight away, in addition to the costs of buying stock, while your cashflow could be very inconsistent.

Starting online only might be a better idea if you have some storage space for stock.
Click to expand...

I dont really have space for stock, so would have to rent space anyway, which is why I thought opening a store would be a simpler process in the long run. Initial high costs are expected, and would (hopefully) be factored in to starting capital.

I also have found an aquatics store near my current location that has been vacated. I am going to see if I can get a look inside, and see what the setup was there. I am also going to see if I can make contact with the old owner, and see what was the cause of closure. I would not want to be moving into a location that was doomed from the start :)
 
Oh, my timescale for the project is 6-12 months at this point. Probably nearer 12 months If I am realistic. I want to make sure that if this all goes ahead I have every avenue researched and cover all my bases to give this the best shot of working :)
 
Malt_Vinegar said:
I also have found an aquatics store near my current location that has been vacated. I am going to see if I can get a look inside, and see what the setup was there. I am also going to see if I can make contact with the old owner, and see what was the cause of closure. I would not want to be moving into a location that was doomed from the start :)
Click to expand...

If they were a limited company you might be able to get their accounts from companies house.
 
Start online first. You can rent space in a warehouse and keep your stock there. I rented space for 6 months to keep some gear and paid something like £20 a month and it was rather sizeable.
 
Someone I know owns an aquatic store and around 80% of his sales are online, the store itself is more of a hobby/warehouse for him. The 20% who actually come in the shop are locals that know him well and like to come in to chat about fish etc. Definately start online as it is expensive to setup a decent system.
 
You must log in or register to reply here.
Back
Top Bottom