Business Idea

[Odobenus rosmarus]

I recently quit my job because I valued my time enough to say it wasn't worth working there (btw I'm only 18). I'm actually really happy I did that because I've had time to think about what I want to pursue in life blah blah blah. Anyways I have been building on this idea of creating a product (obviously aquarium related!) to sell locally. I don't plan on generating profit INITIALLY but I believe I can recycle the money coming in from this idea to create more products related to the initial one.

 

HERE'S THE IDEA: to make UNIQUE all-in-one nano tanks and sell them as a kit. I would buy all materials and equipment through a company that I know to avoid taxes, fees, and other things. I would likely find a plastics supplier to purchase and pre cut all of my acrylic (outsourcing ) and I would assemble the tanks + filter sections + plumbing and everything myself. The tanks would be UNIQUE sizes (probably between 2 and 20 gallons) and made of acrylic only. The only thing I would include with the tank is the pump and plumbing; all the other equipment (heater, light, skimmer, fuge accessories, ATO, reactors) can be purchased from me separately. I don't want to include equipment for people and then have them ask me to remove the heater because they have their own, then I would have to change the price for them which is inconvenient. So what I'd rather do is sell a "bare bones" tank that only includes the necessary equipment to function, and then all the extras can be ADDED if wanted! Eventually I would like to be selling acrylic inserts to hold media, hold specific reactors, nano skimmers, or even a fuge section (but that might be a later project).

 

There is a high volume of aquarium hobbyists in my city; the demand for saltwater AND freshwater tanks is high! The other benefit of selling the tank "bare bones" is they can be set up for salt or freshwater tanks. I would also be carrying driftwood (my preference is Malaysian) and planting substrates for the fresh tanks. For the salt tanks I would carry base rock and dry sand.

 

The beginnings of this idea would be SMALL, I'm in school and have limited funds for something like this (but I'm willing to invest a little). Initially all I want to get out of this is KNOWLEDGE and EXPERIENCE! If I am only breaking even (not making or losing money) for even the first 6-12 months I will be happy. Obviously if things go well and I make money I'm going to use that to grow things (turn the product into an asset). This is a hobby first for me so I would be having fun constantly, learning and fun is what I'm looking for so if I can make some money while helping people, having fun, and learning! WHY NOT!

 

I think its time to hit SketchUp and share some designs!

[FlamingPrawn]

While I wish you the best of luck i'll be honest - you're a teeny tiny minnow is a pond filled with sharks...These bare bone tanks you'll have to sell for more than "reef-ready" tanks just because you won't get the pricing other manufacturers do. My advice. Go to school and get your degree. Use this hobby as an extra income through coral propagation locally. Even more so then just supply tanks and money. the amount of man hours you're going to have to put in is OUTRAGEOUS. With going to school full time that needs to be your #1 focus. You'll need to attend show and show to get your name out there.

 

There are so many people in the hobby already making money selling frags like WD for $450+. Not to be a debbie downer but its super hard to stand out with something like that. You'd have to have something super crazy.

 

In all, just trying to be realistic But I HOPE in 6-10 months from now I can post back on this and say I was wrong and you become very successful! Follow your dreams, but always have that contingency plan; that's why I say school & degree first, then this

[smiz]

Sounds like a great idea if the market is there. However coming from someone in a similar boat be prepared to be putting A LOT of time into this. Not to mention factoring in R&D time and what not. I have spent more doing things wrong then I've actually earned so far lol. The Learning curve for me at least was tough with acrylic. But I stuck to it and have a pretty cool product (I think) but still am not seeing any money, it all just go back to getting materials, tools, and testing. But since you are not in it for the instant cash flow and are realistic with your goals you should be fine.

 

I think one of the hardest things so far besides the R&D and scrap is customer expectation. People wont necessarily see you as a part time guy doing it for fun, but will see you as a business and frankly don't care what is going on with you in your garage lol, and just want their product.

 

But all in all I've always thought there is a market for pre setup plug and play system and if you can make it work then I say go for it! If anything you will get a associates degree in business communication if anything

 

Let me know when you start needing acrylic cut I can help you out

 

For sure focus on school though!

[Odobenus rosmarus]

While I wish you the best of luck i'll be honest - you're a teeny tiny minnow is a pond filled with sharks...These bare bone tanks you'll have to sell for more than "reef-ready" tanks just because you won't get the pricing other manufacturers do. My advice. Go to school and get your degree. Use this hobby as an extra income through coral propagation locally. Even more so then just supply tanks and money. the amount of man hours you're going to have to put in is OUTRAGEOUS. With going to school full time that needs to be your #1 focus. You'll need to attend show and show to get your name out there.

 

There are so many people in the hobby already making money selling frags like WD for $450+. Not to be a debbie downer but its super hard to stand out with something like that. You'd have to have something super crazy.

 

In all, just trying to be realistic But I HOPE in 6-10 months from now I can post back on this and say I was wrong and you become very successful! Follow your dreams, but always have that contingency plan; that's why I say school & degree first, then this

 

 

Very true, focus on priority number one. Thank you for the feedback!

 

You are right, the amount of work I would have to put in is enormous. That doesn't scare me because I've got LOADS of spare time and energy for projects like this while maintaining those 80's and 90's (I don't get out much lol). What does scare me is, like you said, the other sharks out there.. Getting my product noticed by people won't be easy if I'm a minnow.

 

Propagation is something I've looked into! It is an appealing idea to me. I would need to research or get some first hand experience learning from an established reefer/propagator. Maybe working at an aquatics store would be beneficial.

[Odobenus rosmarus]

Sounds like a great idea if the market is there. However coming from someone in a similar boat be prepared to be putting A LOT of time into this. Not to mention factoring in R&D time and what not. I have spent more doing things wrong then I've actually earned so far lol. The Learning curve for me at least was tough with acrylic. But I stuck to it and have a pretty cool product (I think) but still am not seeing any money, it all just go back to getting materials, tools, and testing. But since you are not in it for the instant cash flow and are realistic with your goals you should be fine.

 

I think one of the hardest things so far besides the R&D and scrap is customer expectation. People wont necessarily see you as a part time guy doing it for fun, but will see you as a business and frankly don't care what is going on with you in your garage lol, and just want their product.

 

But all in all I've always thought there is a market for pre setup plug and play system and if you can make it work then I say go for it! If anything you will get a associates degree in business communication if anything

 

Let me know when you start needing acrylic cut I can help you out

 

For sure focus on school though!

 

 

Dangg you are good with acrylic! Really nice lids

 

Yes, school is priority number one right now and obviously if this interferes with school I would drop this project without hesitation. Lol I've spent too much time upgrading to throw possible entry to university away.

 

Thanks, I will definitely be open to any advice with acrylic. I have built many tanks out of glass (up to 80 gallons) but never built with acrylic before so I imagine there will be a lot of learning. From what I have seen online it seems that acrylic will be a lot better to use for small builds like this. There is also a lot more versatility with acrylic and if the tanks and filter are built with acrylic I won't have to worry about the silicone not bonding to the acrylic (having that issue with a prototype right now).

[metrokat]

Artfully acrylic is sponsor on here and they make acrylic AIO. Oceanbox designs also is a sponsor, so is micro reefs and both make acrylic tanks, I believe both make AIOs. I also have a couple of local guys that are acrylic tank builders, anything you want. I just ordered a frag tank from advanced acrylic. You have competition but there is a place for everyone in this hobby. Good luck with your endeavors.

[LeCharlesMuhDickens]

I quit my "career" 5 years ago and started a business. Competition is good, it drives any marketplace and breeds innovation and new ideas. It takes money though, a lot of it, and long hours to get going.

[olemanwinter]

There is a company doing this already that advertises on this very forum. Their tanks are silly expensive.

 

It's called "artfully acrylic"

 

Their AIO 16 gallon tank is "on sale" right now for $305.99 right now with no light and no stand.

 

I'm sure they are great (I have no idea).

 

But the point is you are not only competing with the Biocubes and stuff like that, but you're also competing with people already doing exactly what you talk about.

[Odobenus rosmarus]

But the point is you are not only competing with the Biocubes and stuff like that, but you're also competing with people already doing exactly what you talk about.

 

 

You're right, there are a lot of people doing what I am doing. Luckily no one is doing this I'm my city (that I know of) other than concept aquariums and another custom aquarium builder, but all of the custom tanks and prebuilt AIO's in my area are VERY expensive and most people aren't willing to drop that kind of cash. My product is going to be cheap (because I'm looking for experience and knowledge, not to become a millionaire) I just care about breaking even eventually. Biocubes, fusions, edge, are very hard to compete with and I know what I'm getting in to Lol people will have crazy expectations because the factory built AIO's are really nice tanks.

[FlamingPrawn]

 

 

Very true, focus on priority number one. Thank you for the feedback!

 

You are right, the amount of work I would have to put in is enormous. That doesn't scare me because I've got LOADS of spare time and energy for projects like this while maintaining those 80's and 90's (I don't get out much lol). What does scare me is, like you said, the other sharks out there.. Getting my product noticed by people won't be easy if I'm a minnow.

 

Propagation is something I've looked into! It is an appealing idea to me. I would need to research or get some first hand experience learning from an established reefer/propagator. Maybe working at an aquatics store would be beneficial.

 

Filling up your free time with reefing is the thing to do haha. I know it kept me out of trouble haha. I know it might be a long shot but get a hold of Dave from NanoBox. I know he's come A LONG way and is not the #1 light on this forum and in the nano-reefing hobby IMO.

[shawnd08]

You have to account for material and time. You can make a cheap product if you use cheap material and little time. Unless you are a large company that has the resources and money it's very difficult to make a quility product for cheap.Usually the products from a larger company are cheap and lack quality.

 

Cheap,fast,good... you can't have all 3

 

Deffinetly stick with school and build some tanks on the side. Unless you plan on selling online I would imagine building tanks selling locally would eventually fizzle out.

 

A degree in business sounds like it would be a great fit for you. Good luck on your endeavor.

[olemanwinter]

 

 

You're right, there are a lot of people doing what I am doing. Luckily no one is doing this I'm my city (that I know of) other than concept aquariums and another custom aquarium builder, but all of the custom tanks and prebuilt AIO's in my area are VERY expensive and most people aren't willing to drop that kind of cash. My product is going to be cheap (because I'm looking for experience and knowledge, not to become a millionaire) I just care about breaking even eventually. Biocubes, fusions, edge, are very hard to compete with and I know what I'm getting in to Lol people will have crazy expectations because the factory built AIO's are really nice tanks.

 

I can appreciate that. I've been there. There is nothing wrong with working for zero profit to increase your experience as long as you can keep the lights on. Just have realistic expectations and you'll be fine.

[StevieT]

GFY

[HecticDialectics]

You should call your company something cool like "A Tank" since youre making tanks. Oh! Like iPads! Call it aTank!!

[gulfsurfer101]

Wish you the best kid but be prepared to face some hard facts! You have your competition and that's been laid out before you. Now take into account the cost of starting up. You need material. Those guys your in competition with probably have a source, a supplier they are getting out cheap from. Now what good is material without the right tools. We're talking massive cnc routers and laser cutters for a clean proffesional design. Now were up around or over 10,000 bucks. You need a place to do all this. I'm not too sure how your neighbors are going to like the sound of you sawing and milling away all day. There's anther possible added cost. It's not going to happen overnight. I had a similar dream about ten years ago with a few set backs along the way like kids and a full time job, but start small and build from there.

[paratiddies]

If you're looking to make a little money in the hobby I'd do what someone else suggested and try to peddle some coral. Buy a few higher end/rare pieces along with some nice colorful frogspawn, GSP, etc. (that newer hobbyist are always interested in) and frag/sell them on your local reef forums or craigslist

 

If you've got a larger vehicle (SUV, truck, chi-mo van, etc.) you could try to service or move tanks. It might be a little harder to get started but if you could get a couple of customers and do a good job I think word of mouth would keep you somewhat busy. I had a LFS owner tell me that his sons moved tanks in the summer when they were home from college and made great money, sometimes $1000+ for a days work if they moved a larger tank or several in a day. It's a pain in the ass and something a lot of people with money to burn would rather not jack with themselves. The only potential problem would be cracking a tank, having livestock not make it to the new tank alive, etc. - you might need either insurance or at the very least a nice emergency fund to cover the costs of a potential screw up

 

Either one of these would be much better than trying to manufacture tanks IMO. You wouldn't need a lot of overhead to get started (assuming you've already got a tank or two) and at least with option 2 you would have limited competition - they have to be in your area to service or move tanks, unlike tank or coral sales where you face competition from shippers as well

[Mstefa1]

I recently quit my job because I valued my time enough to say it wasn't worth working there (btw I'm only 18). I'm actually really happy I did that because I've had time to think about what I want to pursue in life blah blah blah. Anyways I have been building on this idea of creating a product (obviously aquarium related!) to sell locally. I don't plan on generating profit INITIALLY but I believe I can recycle the money coming in from this idea to create more products related to the initial one.

 

HERE'S THE IDEA: to make UNIQUE all-in-one nano tanks and sell them as a kit. I would buy all materials and equipment through a company that I know to avoid taxes, fees, and other things. I would likely find a plastics supplier to purchase and pre cut all of my acrylic (outsourcing ) and I would assemble the tanks + filter sections + plumbing and everything myself. The tanks would be UNIQUE sizes (probably between 2 and 20 gallons) and made of acrylic only. The only thing I would include with the tank is the pump and plumbing; all the other equipment (heater, light, skimmer, fuge accessories, ATO, reactors) can be purchased from me separately. I don't want to include equipment for people and then have them ask me to remove the heater because they have their own, then I would have to change the price for them which is inconvenient. So what I'd rather do is sell a "bare bones" tank that only includes the necessary equipment to function, and then all the extras can be ADDED if wanted! Eventually I would like to be selling acrylic inserts to hold media, hold specific reactors, nano skimmers, or even a fuge section (but that might be a later project).

 

There is a high volume of aquarium hobbyists in my city; the demand for saltwater AND freshwater tanks is high! The other benefit of selling the tank "bare bones" is they can be set up for salt or freshwater tanks. I would also be carrying driftwood (my preference is Malaysian) and planting substrates for the fresh tanks. For the salt tanks I would carry base rock and dry sand.

 

The beginnings of this idea would be SMALL, I'm in school and have limited funds for something like this (but I'm willing to invest a little). Initially all I want to get out of this is KNOWLEDGE and EXPERIENCE! If I am only breaking even (not making or losing money) for even the first 6-12 months I will be happy. Obviously if things go well and I make money I'm going to use that to grow things (turn the product into an asset). This is a hobby first for me so I would be having fun constantly, learning and fun is what I'm looking for so if I can make some money while helping people, having fun, and learning! WHY NOT!

 

I think its time to hit SketchUp and share some designs!

 

How do you run a business and avoid paying taxes?

[masssnapz]

 

How do you run a business and avoid paying taxes?

Only accept cash

[Matteo]

+1 college I am only 21 and believe me there is a huge difference of what you learn in 3 years and your perspective on life. Granted I have done more than most 21y/o but entrepreneurship is a very very unforgiving field especially in today's economy.

[Micro-Reefs Aquariums]

Passion, creativity, perseverance, and being honest are in my opinion the values that will keep you afloat in this business. Without them or a loss of them you will soon be overrun by others.

 

Everything all others have stated is true but I will add this:

 

Don't let anyone tell you it cannot be done! Or that it's impossible, those are failure points in your ability to think and move forward!

 

For me, passion and creativity alone, gave me a break to start my company in 2011!

 

I almost lost it all in 2015, when I made a bad business move and many told me to hang up my dream, I didn't and it was PERSEVERANCE and HONESTY that let me bring back Micro-Reefs LLC in 2016!

 

My only regret in life is that I did not have someone ignite me back when I was your age, go for it kid! I wish you the very best!

 

Sincerely,

 

Mike Guerrero

CEO/Owner

Micro-Reefs LLC

[Mstefa1]

Only accept cash

 

I disagree, then it's only a hobby not a business.

[h3dgehog]

I'm with Mike on this. But I think for me personally, I believe honesty is most important. The many reasosns why people tend to fail is because they are not honest with themselves. Do you have the right skills, do you have the right materials, enough conviction and can you really get away not pating taxes legitimately (srsly tho).

 

Thats said if you are honest with yourself and you truely believe that there is something to be had in thia venture, I say go for it. It can be a success or it can be utter failure with money and time down the drain. Wither way a goos learning experience.

 

 

Passion, creativity, perseverance, and being honest are in my opinion the values that will keep you afloat in this business. Without them or a loss of them you will soon be overrun by others.

 

Everything all others have stated is true but I will add this:

 

Don't let anyone tell you it cannot be done! Or that it's impossible, those are failure points in your ability to think and move forward!

 

For me, passion and creativity alone, gave me a break to start my company in 2011!

 

I almost lost it all in 2015, when I made a bad business move and many told me to hang up my dream, I didn't and it was PERSEVERANCE and HONESTY that let me bring back Micro-Reefs LLC in 2016!

 

My only regret in life is that I did not have someone ignite me back when I was your age, go for it kid! I wish you the very best!

 

Sincerely,

 

Mike Guerrero

CEO/Owner

Micro-Reefs LLC

[Micro-Reefs Aquariums]

I'm with Mike on this. But I think for me personally, I believe honesty is most important. The many reasosns why people tend to fail is because they are not honest with themselves. Do you have the right skills, do you have the right materials, enough conviction and can you really get away not pating taxes legitimately (srsly tho).

 

Thats said if you are honest with yourself and you truely believe that there is something to be had in thia venture, I say go for it. It can be a success or it can be utter failure with money and time down the drain. Wither way a goos learning experience.

 

 

There are no corners to cut in any business, doing so only destroys your ability to grow.... Cheat the system once and it will be your undoing....

[Halo_003]

So I'm currently working on getting a company going.. My advice is look at who your competition is, what can you do better or differently? My company is technology based and nobody produces what I intend to, and that head start is crucial, at least in my industry. It's also something protectable legally as intellectual property, which again gives me security on it.

 

Now I don't want to be the downer, I'm 100% supportive of entrepreneurship. However, you can look and you'll find your competition is Innovative Marine, Red Sea, ADA, Mr. Aqua, Micro-Reefs, Artfully Acrylic, Glass Cages, Advanced Acrylics, etc etc. And they all produce tanks, and they all try to produce the new 'it' tank like the 12 long for example. Mike was nice enough to chime in here and give you some advice, but as a consumer looking in, it's not an industry I'd want to be in. Way too small, and way too competitive, and of course your major competition is the DIYer.

 

Acrylic is relatively easy to work with, most people can do it, which is part of the reason there is so much competition. This is part of the reason why a bunch of different people have popped up to do clear acrylic mesh tops, I couldn't even begin to tell you who originally made it, I think the first vendor I saw selling them was PicO.

 

To be clear, it is not impossible! Others have done it, so you have absolute proof it can be done, and you will be able to do it as well. What I'm saying is don't at all expect it to be easy. The aquarium building business is a great one to get started in as an entrepreneurial venture in my opinion, because it's a nice analog to a lot of other business models and industries. Just like with a restaurant though, you've got to have that "secret sauce" that makes your product better than everyone else. You should also expect to do a lot of custom work and one offs for people, that's just a price of building aquariums.

 

Now as business operations tips go, I would recommend just stick to tanks at first, don't stock any dry goods, you will never be able to compete with giants like BRS, MD or Amazon on price. People will go to huge lengths to save a couple dollars on a heater, so personally I'd just have a basic "we recommend these products for this system" table on each tank. I will also tell you, business cards and a really solid website go a long way. I mean it has to be really well made, for that reason I'd recommend Squarespace, it's easy, pretty, and works. It's also what I use and I can't recommend it enough.

[tdannhauser30]

Do it!! People want to support the little guy over all the big names. Get on the good side of your LFS and maybe get them to buy one from you. Do you have any idea on how you will get the word out about your product? putting one on display at a LFS Would be perfect. Now everything discouraging everyone has said is true but I really do think the average consumer wants to support the minnow over the sharks. It makes you Feel better about who your money is going to and just feel better about the product in general when it comes from a smaller more personable company ( some ambitious 18 year working in his garage lol).