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General Business Discussions This is a general purpose forum open to business related topics concerning Reptiles and Amphibians that are neither appropriate for the Board of Inquiry, nor sales, purchase, or trade solicitations. |
02-05-2003, 04:24 AM
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#1
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opening small pet shop specializing in reptiles and small exotics
I'm opening up a pet shop in new york state and have not been able to find any viable resources regarding my business, can you recommend any sources to for any pertanent info?
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02-05-2003, 02:37 PM
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#2
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Since no one else has replied, I'll give it a shot:
First, check out your local chamber of commerce. They might have some general information.
Then, check out your local Small Businessman's Association. They might also have some general information.
Among that info, you might find out what local authority you need to check with about any particular laws or regulations regarding running a pet shop in specific.
You should look at your city, county, and state statutes in regards to dealing in animals and any restrictions on species. Some places to look besides possible listings of the laws on government websites might include your city council, and county board of supervisors for local ordinances. They can probably point you in the right direction at least for researching local requirements if you give them a call.
That's about all I can think of off the top of my head. There are a lot of other things to consider such as storefront costs, insurance, laws regarding employees (HR is a sticky area, and you'll need at least some help to run a clean store), tax structure, a business plan if you plan to get a loan (and good even if you don't), supply channels, and marketing, just to name a few.
Good luck.
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02-07-2003, 03:25 AM
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#3
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I am not in any way telling you not to open your store if that is what you want to do, but I will caution you to wait. The current economy and business climate is probably the worst we have seen in a decade for the pet trade. Several friends and customers of mine that own pet stores, in metropolitain areas have just recently gone under and several others are talking about it. With all the unemployment, fear of war in three or four different spots around the world, combined with the stock market below 8,000 (today) and sinking consumer spending and retail confidence, I would just like to tell you to wait a few months to see if things improve and then decide. It would be a shame to put yourself and your money into a store only to have it go under after a short life, due in no part to anything you have done wrong. Just my opinion. Evan Stahl
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02-07-2003, 08:47 AM
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#4
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I agree with Evan 99%. Right now can be a very difficult time to open a retail location. Everyone has the same tone of caution as Evan, which means they are holding their money to see what happens. Luxury items (herps and other hobbies) are taking a beating.
Here's my other 1%. If you have capital behind you right now can be a great time to get started. Because of other businesses falling on hard times there is an abundance of used equipment that can be had for cheap. So instead of financing all new stuff (display counters, warehouse racks, tape machines etc) you can pick them up at 25% the cost and pay for them out right giving you a solid foundation to ride out the economic times. A lot of people are looking for work (or even second jobs) and are more open to alternative work schedules (what is usually a stay at home mom, may be interested in picking up 2 or 3 days per week at a low wage to help make ends meet for example). Advertisers are able to negotiate more aggressive for rates (newspaper, radio and other mediums are dying right now). The reason that these venues are looking for advertisers is that a lot of companies have pulled in their horns and stopped advertising as much. This means that your ads (which cost half the regular amount) are competing against half the number of other advertisers. I know a local company that did this exact same business plan here in the 80's and 90's. He's one of the few construction companies that owns all his big machinery outright. Business slows down... he just parks everything and waits it out. No big lease bills to worry about or other money drains.
Business plan is a must. Doesn't have to be highly structured like one you'd need for a loan, but if you don't know where you want to go how can you get there? I do 12 month plans and review every 3 or 4 months. They don't get followed to the T as you need to react to business as it happens but it points you in the right direction and then the reviews allow you to make sure you're still going in that general direction
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02-07-2003, 09:11 PM
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#5
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Daniel, I agree with you 100%. In fact I am going in the afternoon to buy some $2500 rack units from my friends store that is now closed for $500. I still think the caution applies though, if you can't make money, it doesn't matter how much you save. It would be like throwing a party and having nobody show up. Evan Stahl
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02-25-2003, 10:39 AM
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#6
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Where?
I was wondering what location you were thinking of opening your store at in Ny?
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