That depends 
If he/she has deep pockets, a firm business plan, more startup capital than even the worst projections, then sure - and a backup plan to boot. The hobbyists always run to the "latest thing" to hit town, especially if there's bargain-basement prices and PhD level service
Seriously - the answer depends on what his/her expectations are. If he/she expects to open up a gold mine, the answer is NO. If he/she has a passion for the hobby *and* good business sense *and* ample resources, then sure - why not? I did Except the "ample resources" part - I have been running on a shoe string since the get-go and that was probably my biggest mistake - being undercapitalized - and Fenner pegs it in his articles on his site referenced above. I should have read that part more closely
As long as he/she has realistic expectations I don't think it's fair to say not to do it - after all, I did, as have others before me. And while Jeff's comments were sort of tongue-in-cheek about checking with other stores to see if they're for sale - that's not bad advice. Investing in a going concern may be better than trying to start from scratch in these parts, and that may be why so many stores have changed hands, versus new startups - although there have been a reasonable number of new startups - some seem to make it, some don't.
Oh yeah - and we also forgot to mention Athens Pet Store - our own former moderator Rover. His store was full-line but had a huge aquatics section - fresh and saltwater. I was sad to see Glenn get out of the biz, he is one of the good guys. Not exactly in Metro ATL but worthy of mention. While we're in Athens, Athens Aquarium went out of business some years ago, and was reincarnated also.
On a more positive note, Jorge Medina who sold Aquarium Showcase a couple of years ago, and "retired", has returned to GA near Augusta and has opened Star Aquatics (I believe that's the name). Jorge is one of those folks who has either started or purchased going concerns over the years, built up the business, then sold it. Then he does it again - he can't seem to help himself *g*... but he's a good businessman, and he demonstrates that it can be done. Ironically, his stores have never been known to be the cheapest in town - but he caters to the higher end market, and apparently he must be making money at it or he wouldn't keep jumping back into it. I like Jorge and his wife Angela very much, and I have a ton of respect for them. I think they have owned about 5 stores since 1987 when they started - I had a long conversation with them once, just before they sold Aquarium Showcase, and they told me about stores they'd bought and sold, and what they'd started from scratch. Gluttons for punishment *g*!
It really does seem to be a transitional industry around here. Stores come, stores go, but in particular, stores FLIP. I've sometimes perused the businesses for sale ads online, and honestly a pet store can often be purchased as a going concern, with a customer base, for around the same price as it would cost to start one from scratch, with no customer base. Just something to ponder...
Jenn
If he/she has deep pockets, a firm business plan, more startup capital than even the worst projections, then sure - and a backup plan to boot. The hobbyists always run to the "latest thing" to hit town, especially if there's bargain-basement prices and PhD level service Seriously - the answer depends on what his/her expectations are. If he/she expects to open up a gold mine, the answer is NO. If he/she has a passion for the hobby *and* good business sense *and* ample resources, then sure - why not? I did
Except the "ample resources" part - I have been running on a shoe string since the get-go and that was probably my biggest mistake - being undercapitalized - and Fenner pegs it in his articles on his site referenced above. I should have read that part more closely As long as he/she has realistic expectations I don't think it's fair to say not to do it - after all, I did, as have others before me. And while Jeff's comments were sort of tongue-in-cheek about checking with other stores to see if they're for sale - that's not bad advice. Investing in a going concern may be better than trying to start from scratch in these parts, and that may be why so many stores have changed hands, versus new startups - although there have been a reasonable number of new startups - some seem to make it, some don't.
Oh yeah - and we also forgot to mention Athens Pet Store - our own former moderator Rover. His store was full-line but had a huge aquatics section - fresh and saltwater. I was sad to see Glenn get out of the biz, he is one of the good guys. Not exactly in Metro ATL but worthy of mention. While we're in Athens, Athens Aquarium went out of business some years ago, and was reincarnated also.
On a more positive note, Jorge Medina who sold Aquarium Showcase a couple of years ago, and "retired", has returned to GA near Augusta and has opened Star Aquatics (I believe that's the name). Jorge is one of those folks who has either started or purchased going concerns over the years, built up the business, then sold it. Then he does it again - he can't seem to help himself *g*... but he's a good businessman, and he demonstrates that it can be done. Ironically, his stores have never been known to be the cheapest in town - but he caters to the higher end market, and apparently he must be making money at it or he wouldn't keep jumping back into it. I like Jorge and his wife Angela very much, and I have a ton of respect for them. I think they have owned about 5 stores since 1987 when they started - I had a long conversation with them once, just before they sold Aquarium Showcase, and they told me about stores they'd bought and sold, and what they'd started from scratch. Gluttons for punishment *g*!
It really does seem to be a transitional industry around here. Stores come, stores go, but in particular, stores FLIP. I've sometimes perused the businesses for sale ads online, and honestly a pet store can often be purchased as a going concern, with a customer base, for around the same price as it would cost to start one from scratch, with no customer base. Just something to ponder...
Jenn
