Should I re-open my LFS?

[fishetcinc]

As you guys know, I closed my LFS, Fish Etc Inc , earlier this year due to personal reasons (ie. divorce). It was fun while it lasted and judging by your reviews here on RC, everyone liked it as much as I did. However, I just didnt feel like running the "family business" by myself.

But now, I am having serious withdrawl symptoms. I keep seeing some amazing stuff coming from overseas and I feel that nobody in town has really stepped up to fill in the gap in terms of quality and price. And now, a pair of investors have expressed serious interest in getting Fish Etc back into business.

The current plan is to re-open Fish etc as an online store out of a warehouse without all the retail shop overhead or markup. Pricing would be inline with online prices but locals could always come pick up to save on shipping. We would primarily concentrate on cherrypicks, aquacultured pieces and lots of frags but will also offer select fish, critters and wild pieces.

For those of you who never got a chance to visit my old store, here is what you could expect:

http://archive.reefcentral.com/forum...hreadid=664312

http://archive.reefcentral.com/forum...hreadid=692574

http://reefcentral.com/gallery/showp...t=1&thecat=500

http://reefcentral.com/gallery/showp...t=1&thecat=500

http://reefcentral.com/gallery/showp...t=1&thecat=500

Let me know what everyone thinks about this idea. Your votes and comments could very well decide whether I go through with this or not.

K.

["Umm, fish?"]

I certainly can't imagine anyone here voting no. Let's see. Online prices, no shipping, we pick the animal, on animals you've shown us that have our mouths watering, and we all are crazy enough about the hobby to take time away from our lives to spend online.

I think if you could just get a number of people who consider themselves members, you'd have the number of people who'll vote yes on your poll.

Any clue what part of the city you're looking at? I'm sure rents are probably cheaper on the north side of Denver....

[BrokeColoReefer]

cant wait!

[The Haj]

Hell yeah, Go for it !! I am sure I got the job at Central ,give me a pm and I will fill you in..

[MBX5]

Would be great to get cherrypicks local! Wouold you sell dry goods also?

[586danh]

just starting out in the reef world and would be very interested in a good online outlet

[freddie40]

YES.

[Deeparchae]

YES, reopen, Pretty please.

[Whaledriver]

I think "inland aquatics" in Indiana is a similar operation. Just open as a retail store one day a week on Saturdays.

I have seen this happen in the hobby shop industry ie model trains. Use the retail sales as a bonus to the internet sales instead of the other way around.

[wstellwagen]

YES


Walt

[gsxrguru2]

As a new reefer I know that I would jump all over the opportunity to save some money on stocking my tank with your stuff. Please do this!

[bmwardo]

Originally posted by fishetcinc
The current plan is to re-open Fish etc as an online store out of a warehouse without all the retail shop overhead or markup. Pricing would be inline with online prices but locals could always come pick up to save on shipping.
K.

K-
It seems with such a competitive market this is really the best solution. It would be good to not only feed your addiction, but it certainly pleases me to see knowledgeable and honest people stay in the retail area of the hobby. You have my support. Thank you for being such an accurate source and active member on the boards!

[dsandfort]

Could you open it up here?
d

[Misfit6669]

After Fort Collins, maybe here in North Pole.
J/K
If you were happy running your store, I would say hell yeah, do it. However, just coming off a divorce, I would be a bit concerned about making any possible rebound decisions. Would this new store cause any problems with future relationships down the road. I would advise taking some time before making such a big decision.
Brian

[Bovetek]

YES!!!!!!

[CastleRock]

I agree 100% with Brian but if it made you happy I vote yes

[artful-dodger]

It sounds good. But one of the things that made Fish Etc. special was the beautiful retail setup. I think we should all be thinking of this as a totally new business venture as opposed to a reopening--the same management but a different business.

That isn't meant as a negative, just an observation.

You know the business aspects of the wholesale and retail trade better than any of us. But, I have to wonder:

Is it possible to make a living bringing in specialty fish, ensuring their health and then shipping them back out individually? It seems that there are several other online specialty fish retailers. How will you differentiate yourself from them? How long will it take to get sufficient name recognition to sustain the business? How/where will you promote the new business? How much will that cost?

No need to answer...just ponderings...

[herefishyfishy2]

K-

100% support you getting back into the business however you deem it best for you to be successful. I will be there no doubt.

[Martin's Reef]

Yes, Yes, Yes! I would love to see a store of this nature. As there is only one great LFS IMO as of now.

[scchase]

Yea Fort Collins desperatly needs a premier fish store Greeley is just to far as soon as John moves Greeley closer then maybe....

[rkl303]

I love the idea(voted yes).

But the way it set up it sounds like it, it may be too much local competition for the other LFS though. I'm sure its about partly about market efficiency but wouldn't want you to be seen as the walmart of LFS. Maybe dry goods should be priced at online prices and live goods at retail prices might be friendlier...and maybe I am going to make alot of enemies soon if everyone hates my opinion.

[smokedsalmon]

YES!! Is The store on parker and florida?

[jimfed1]

Yes, if this is what you want to do , then GO FOR IT!! I am sure you would have the support of all of us to help any way we can.
Jim

[fishetcinc]

Wow ... it's good to know I am not the only one excited about this concept. Thanks for all the complements as well. I cant give out too many details yet but you can be sure that all this positive feedback is having a very strong influence in the descion making.

As always, Misfit6669 and Artful-dodger , you raise some good points of consideration. I have probably turned down a dozen or more similar offers to reopen my store for the same exact reasons pointed out. So you can be sure that if I do act on this, it will be after very thorough market research and soul searching.

rkl303, there is a prevalent misconception (even among some LFS owners) that LFSs compete directly with each other. But the reality is that on any given day, each LFS will have a completely different livestock selection from the next LFS. Even the same species of coral or fish will differ in quality, health, coloration, size, behavior, etc from store to store. So it's unrealistic to think that one LFS could possibly out compete the others solely on price. The real competition and threats to the average LFS are other hobby businesses (videogame stores, electronic stores, etc) that compete for that expendable cash in people's wallets. If I reopen my store, my goal will be the same as before: to add upon and raise the bar on the LFS market. I have no interest in being a ... ugh ... walmart like business.

Keep those votes coming!

K.

[husker267]

Another yes vote here. The idea of a warehouse/on-line store is great. The bottom line with many hobbyists is money. They will go to where ever they can get the best deal. If you couple low prices on livestock and dry goods with a new store anywhere close to the caliber of Fish Etc - it will do well.