Rcpilot
Reef enthusiast
I must be nuts. I might try to get a small business loan and buy the LFS. :shock: The LFS that is about 1 mile from my house he is trying to sell out.
Here is a list of whats in the store:
79 -- 40g breeder tanks. They are up and running with livestock.
59 of those tanks are freshwater with undergravel filters and a common oil less air pump that is mounted in the back of the store.
20 tanks are dedicated to saltwater. 6 are for corals. 6 are for inverts. 14 are for fish.
All the SW tanks are running on refugiums with separate sumps and skimmer tanks. Each set of 6 tanks is running on the following setup:
There are 2 of the 40g breeders. One is the sump, skimmer and return pump. The other tank is the refugium.
There is a 180g SW display tank in the front of the store. It has about 150lbs of live rock and 1 large tang. (not sure what it is) It is running on a 55g refugium and a 40g sump with some kinda big skimmer. The lights are MH and more than adequate for a nice reef.
There is about $800 worth of livestock in the store right now. Only about $100 of that is saltwater. The rest is in FW.
The bread and butter of the store is in freshwater fish sales. But, if you stocked the SW tanks, it could produce about 40% of the overall sales each week.
The store produces about $20,000 in sales per month. Operating costs run just under $3000/month.
The cost to purchase the store and livestock is $25,000
I would need an additional $25,000 in operating capital. This would give me the cash I'd need to stock the tanks full. Right now, the tanks are about 10% of capacity. It would take about $5000 to stock the tanks full. That would leave about $20,000 in operating capital.
The store has about $2500 worth of dry goods in stock right now. He is willing to sell it to me at a loss for $1750.
The current markup is 2-3X Keystone on livestock and about 60% on dry goods. He is doing pretty well at that rate.
I have calculated it out on paper and I think I can make it work. If I kept doing exactly as he has been, I should net about $85k per year. Thats NET -- meaning AFTER I pay the bills and Uncle Sam.
I'd need a $50,00 loan to do it though. I don't have that kind of cash lying around. Who does? :shock:
How many of you would even consider it?
Here is a list of whats in the store:
79 -- 40g breeder tanks. They are up and running with livestock.
59 of those tanks are freshwater with undergravel filters and a common oil less air pump that is mounted in the back of the store.
20 tanks are dedicated to saltwater. 6 are for corals. 6 are for inverts. 14 are for fish.
All the SW tanks are running on refugiums with separate sumps and skimmer tanks. Each set of 6 tanks is running on the following setup:
There are 2 of the 40g breeders. One is the sump, skimmer and return pump. The other tank is the refugium.
There is a 180g SW display tank in the front of the store. It has about 150lbs of live rock and 1 large tang. (not sure what it is) It is running on a 55g refugium and a 40g sump with some kinda big skimmer. The lights are MH and more than adequate for a nice reef.
There is about $800 worth of livestock in the store right now. Only about $100 of that is saltwater. The rest is in FW.
The bread and butter of the store is in freshwater fish sales. But, if you stocked the SW tanks, it could produce about 40% of the overall sales each week.
The store produces about $20,000 in sales per month. Operating costs run just under $3000/month.
The cost to purchase the store and livestock is $25,000
I would need an additional $25,000 in operating capital. This would give me the cash I'd need to stock the tanks full. Right now, the tanks are about 10% of capacity. It would take about $5000 to stock the tanks full. That would leave about $20,000 in operating capital.
The store has about $2500 worth of dry goods in stock right now. He is willing to sell it to me at a loss for $1750.
The current markup is 2-3X Keystone on livestock and about 60% on dry goods. He is doing pretty well at that rate.
I have calculated it out on paper and I think I can make it work. If I kept doing exactly as he has been, I should net about $85k per year. Thats NET -- meaning AFTER I pay the bills and Uncle Sam.
I'd need a $50,00 loan to do it though. I don't have that kind of cash lying around. Who does? :shock:
How many of you would even consider it?