Ideas On Starting A LFS?
Im not sure where this fits in, but I have been wanting to own a fish store. Now, This is no soon idea, I'm only 14. But would really love some information on it. Could someone give ideas, needs, and all of that good stuff or direct me with a link to an existing topic.
Have a look here
Excellent business plan, most importantly follow your dream!!! :)
14 yo and you have a dream. It's a good start. I suppose education is the critical one. Nothing says buy fish from here like a marine biology degree or something of the like. Business degree will always help. Good people skills( for customers ). Location would be a big draw card and maybe a few ideas like master classes for new hobbyists. My two cents
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I don't think having a degree in marine biology is important at all. If you are going to get a degree, Business is FAAAAR more useful when it comes to running a business.... You can have all the fish knowledge in the world, but if you don't know how to get/keep yourself in the black, who cares?? It's a business first and foremost. Yes, it's important to know your product, but there isn't anything you are going to learn about aquariums studying marine biology that is going to make you more successful than what you can learn yourself over the next 10-15 years.
Oh yeah, and make sure you have good credit. You're going to need it for that $200,000 loan. Number one reason new businesses fail is a lack of start up capital, so make sure that you get enough for both the business AND your personal needs. Get as much money as you can.
John, it's great that you're doing research. It shows you have one important quality already. There is some great advice here. Learn about retail and finance in general. Talk to successful people in the business. At your age, you won't be seen as a competitor and they'll probably be very open with you. Try to get an idea of what it's like to be self employed. It's not for everyone; however, if it fits your personality, it can be very rewarding.
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