Traditionally, business plans are broken down into some combination of these 9 nine sections: executive summary, company description, market analysis, organization and management, service or product line, marketing, funding, financial projections, and appendix. Be as detailed in your plan as possible. Make a list of the smaller details about your business, such as owner’s and employees’ responsibilities, the types of services you’ll provide, and what prices you intend to offer your products at.
Another good way to do this type of research is to learn what leading aquarium shops are doing, then figure out how you could do it better. For example, if a major aquarium shop offers free next-day installation, see if your store can offer free same-day installation.
For example, if your aquarium shop is located in the United States, it is required to be licensed under the Animal Welfare Act. If you’re unsure what licenses, certificates, or insurance you’ll need, you may want to hire a business attorney who can help guide you through these legal questions. Ideally, try to hire one with experience working with pet stores.
You may not want to be directly next to your competitor, since customers may consistently choose your competitor’s store over yours. However, you should aim to be in the same shopping center or area of town, if you can. If you’re planning to only sell materials online, you don’t need to worry so much about where your store or warehouse is located.
You might also be able to buy some of these items, such as cleaning supplies, online or from a mass retailer.
For best results, try to hire workers who have previous experience working in aquarium shops.
Distributors are also sometimes called wholesalers, brokers, or jobbers. You can also ask your competitors who they get their supplies from, although they probably won’t be too keen to help you.
You can acquire your fish either from saltwater fish collectors, who capture the fish in the wild, or from freshwater fish farms. Note that you’ll need to know how to take care of exotic fish before you can buy them and sell them in your store. Examples of exotic fish to stock in your store may include African cichlids, angelfish, or swordtails. You should also aim to stock both freshwater and saltwater fish. Although most home aquariums house freshwater fish, you’ll want to make sure you’re catering to as many potential customers as possible.
Make sure you feed the fish the right type of food each day. For example, some species of fish eat tropical flakes, while others eat bloodworms, while still others eat shrimp eggs and krill. Measure the pH levels in the tank each week to make sure they’re within an acceptable range for the type of fish in the aquarium. Clean each aquarium each week and replace the filter every month.
If your competitors offer a particular incentive for their customers, try to outmatch them. For instance, if they offer a buy-one-get-one deal, create a buy-one-get-two program to steal their customers. Appearance is one of the most neglected aspects of aquarium shops. Remember that the appearance of displays reflects the health and quality of your livestock, so make sure to focus on that.
The same goes for radio ads versus television commercials.
Remember, people won’t be as interested in your website if it never gets updated. Be innovative in how you cultivate your online presence. For example, consider posting fun videos about your store to YouTube and other social media websites to get people talking about you.
