How to Start a Pet Fish Store

Part 1 - How to start a Pet Fish Store business - Background

As the proud owner of a pet fish store you not only will sell goldfish to young fish fanatics, you also have the opportunity to build a large commercial customer base tending to those interested in large aquariums in doctors offices, restaurants, and other public spaces. A wide range of accessories such as gravel, plants, and filters are offered to keep your customers’ tanks clean, healthy, and unique looking. It can be a challenging business to open, but if you are passionate about fish, it can be a creative, rewarding, and profitable venture involved in customer service, design, and animal care.

Our guide is in 3 parts:

• Part 1 - How to start a Pet Fish Store business - Background
• Part 2 - Our planner tool to see if this idea is the right fit for you
• Part 3 - Action plan to get started

What are the costs involved in opening a pet fish store?

For a small store front, you will need $50,000 to $100,000 for the initial investment, depending on the type of fish you intend to stock. Salt-water and exotic species exponentially increase the cost of livestock. Expect to have two years of capital available while you build your customer base.

What are the ongoing expenses for a pet fish store?

Your largest constant expenses will be water and electricity. When looking for a location, keep local rates in mind. Shipping can be significant for live fish deliveries.  Otherwise, standard business costs such as the lease, payroll, and the cost of inventory will be your main concerns.

Who is the target market?

Your clients will most often be of three types: families looking for inexpensive, low-maintenance fish, lifetime fish hobbyists, and commercial clients looking to fill large aquariums. The fish hobbyist and the commercial client will provide you with the most profit per purchase, and they are also highly likely to become regular clients. Hobbyists will return on a steady basis to replenish their supply of tank maintenance products, and commercial clients will be in need of someone to perform regular maintenance duties on their aquariums.

How does a pet fish store make money?

While you can see a retail markup of 100% over wholesale on a single fish, the costs of water, electricity, loss of other livestock, and time can quickly lower that margin. The largest profit is found in in-home services supporting large commercial clients. These services can include tank cleaning, water testing, water treatment, etc. Accessories such as gravel, plants, and decorations offer the most consistent income with a general profit margin of 10-30%.

How much can you charge customers?

Most of your standard consumable supplies such as food and gravel will retail from about $5 to $40. This price applies to small live fish popular for home aquariums, as well. Special order exotic species can retail for $100 to $1000, but may not require you to stock them.  For out-of-store services, regular tank cleaning can be priced starting at $60 and rise from there according to aquarium size and any additional tasks completed for the client.

How much profit can a pet fish store make?

Your numbers can vary significantly, but a successful local pet fish store can expect to profit $100,000 to $180,000 from net sales of up to $400,000 a year with a solid customer base.

How can you make your business more profitable?

Service, knowledge, and cleanliness are the hallmarks of a successful aquarium store. While selling a new customer’s first fish is exciting, it’s the return trips for food and filters that will keep your business profitable. Providing exceptional customer service along with free and accurate advice will encourage your customers to keep coming back.

Day-to-Day and Growth

What happens during a typical day at a pet fish store?

When you run your own fish store, on any given day you might need to:

• Feed and care for the fish, plants, and tanks in order to maintain attractive sales displays

• Receive shipments of new livestock/acclimate new fish to your display tanks

• Maintain inventory of new tanks, accessories, and food

• Provide friendly and helpful service to any walk-in clients

• Reconcile daily sales receipts and invoices

• Offer in-home services for large customers with fresh or saltwater aquariums

• Research custom orders for exotic fish and new aquascape designs

• Maintain and train your staff

What are some skills and experiences that will help you build a successful pet fish store?

These skills are helpful to develop in order to build a successful pet fish store:

• Extensive knowledge and experience in the care of aquariums and fish

• Basic accounting skills

• Excellent customer service

• Good housekeeping standards

• Strong organizational and leadership skills

• Ability to build relationships with vendors and repeat clients

What is the growth potential for a pet fish store?

It is possible to expand from a small storefront on Main St. into a larger location as you build a dedicated pool of customers. Larger metropolitan areas will be better able to support a busy location as you can offer more services for high-end clients.  Some startups have expanded into multiple locations as they built a solid reputation for healthy fish and happy customers.

What are some insider tips for jump starting a pet fish store?

First determine that your neighborhood needs a local fish store and select a high-profile location that is exposed to heavy foot-traffic. Your local hobbyists will enthusiastically tell their friends about your business, but you’ll need to actively work all your connections through social media, printed, radio, and television ads to expose potential customers to your new business. A direct marketing campaign can help reach new lucrative commercial clients.

How and when to build a team

A small local storefront will still need more than just you to get the ball rolling. You’ll want to hire a small team of clerks to help clean the tanks, keep the store neat, and check out customers while you’re working on orders. Make sure your staff members enjoy working with live animals and that they want to learn all they can about your fish and your products. If you anticipate a large commercial client base, make sure your technicians have sufficient education and transportation.

Part 2 - Is a Pet Fish Store business the right fit for you?

Part 3 - Action plan to launch your Pet Fish Store business in 90 days