SlipperMan":rypd01ml said:
See that is the problem with the area. We tried to do the normal markup and guess what? Absolutely nothing sold. "$23 for a clownfish! You people are nuts!" so we just sat there with an ORA shipment forever. The foot traffic is pretty good for such a small place but what else can we do? We get people in and if nothing sells, we can't afford to just sit there and have bills pile up with product eating more money up. Even though we ARE the cheapest in the area, we don't do business like other places. We won't sell you a shark for a 40g (yes, a store recently did this to TWO different people), or tell you this angel is perfectly safe with corals. Maybe we should start being shady....
We were left with a crappy situation so we're trying to get it back to how the store used to be. We tried the normal markup, lost our ass. So we've been forced to slowly lower prices down to where they are now. Finally there are some funds in the bank to actually work with and make some badly needed repairs (like the 180g on a failing stand.....).
So I'm not sure what to do. It's just an odd situation. This town is goofy, trust me.
Jenn, mind me sending you a PM later with more personal details? Any help from anyone is appreciated.
The bitterness of poor quality lasts long after the sweet price is forgotten.
Is the cheaper competition selling ORA clowns for nothing, or are they cheaper wild-caught specimens? Do you take the time to educate your customers as to *why* it might be worth paying more for a quality specimen that has been acclimated?
I'm not the cheapest in the area - but I'm not the most expensive either. I don't buy crap, I don't buy "rental items" (fragile creatures doomed to fail in short order are both a misuse of wild resources, as well as stealing from the consumer, IMO). I also keep my fish for a time - I don't sell them right away when they come in but people are in the habit of coming in and laying claim to a specimen(s) and picking up when it's ready to go.
If "everybody" has the same "Nemos"... get different stuff... good, sturdy stuff that's different. Make your business stand out from the rest. I have also learned that people will *pay* for good service - but they have to get value for their "extra" money spent.
I just had a freshwater hobbyist leave here after spending $78 in my store. I stopped stocking/carrying freshwater fish at the end of last year - but I keep some basic supplies and provide testing, and troubleshooting/advice. They went to Petsmart and bought a 20g tank and 9 fish in the same day (they now have 3 left... and ammonia out the wazoo...) - I'm working with them to get their tank sorted out in spite of bad advice received elsewhere... and if I'd had some freshwater gravel they'd have probably spent $20 more than they did.
Be creative in your marketing. Money is tight everywhere but there are plenty of ways to market either for cheap or for free. Merchantcircle.com, lfslocator.com, findafishstore.com, Yahoo Local/Yahoo Shopping, Google Business, Facebook, Twitter (I need to do the Twitter thing - that's on my "to do" list). Some of those have "paid" options but most you can make good use of their free options. Have a website? Make sure your meta tags are up to date, and do some google or yahoo searches using search terms that your locals might use, and see where you place in a search. Makes a HUGE difference (I did this earlier this year... people here say, "fish aquarium" so I added that to my meta tags along with more neighboring towns and more people are visiting my website, using those sorts of search strings). Ask some of your regulars to post favorable reviews... offer an incentive even. You'd be surprised how many people take online reviews into consideration when choosing a store to shop with - I learned that just this week from a friend in KS. I don't have many reviews on my shop online but I'm going to start asking my regs to do that for me.
We started a loyalty rewards program this year that has been VERY popular. On slow days we offer "double points" (like this weekend) - we did double points for Mothers Day for Moms and we will for Dads on Fathers Day. We advertise specials and incentive days in our weekly newsletter - also free. You can start a Yahoo group for free, use HTML to use images etc. Takes me about 30 minutes to put a short newsletter together, and I send it out on Fridays and specials are good for the week. I can feature new products, advertise specials and such and keep my store in the front of people's minds.
Make sure that you are listed on the websites of the manufacturers whose brands you carry - that's another free way for people to find you. Make sure your information is accurate and current.
If there's a local club - associate yourself with them. Yes, hobbyists in clubs *can* be a stingy lot - but you're better off being on their good side. I just re-upped as a "sponsor" for a club I founded nearly 10 years ago, and I left it about 5 years ago over "political" issues, but since I rejoined, the experience has been nothing short of positive. Clubs are very loyal to the stores that are loyal to them - and at the end of the day I was tired of people referring others to stores further away, because the other store was a "sponsor" and I wasn't. Now I'm getting plenty of referrals, have my own forum (more free advertising) and loyalty equal to or even better than some of the others - because I'm also active on their general forums, helping hobbyists with their questions.
It all adds up. When I re-joined, several new and returning customers told me that I am "very highly regarded" - which is great - I've earned that, and I'm proud of it. Now it's translating into sales because I'm back in the fray.
As for the "wholesaler issue" - when you stated your disappointing experience, the wholesaler that the other person mentioned did not come to mind for me, but a couple of others I dealt with when I first opened up, sprang right to mind. I'm a small store... very small. Maybe not as small as yours (1380 square feet here - we downsized at the end of last year when we discontinued freshwater fish - we're back to the size we opened with 7 years ago). Make the space count. Make your down time count when you haven't got customers and you're caught up with the grunt work - network online.
Those of us who are creative and resourceful will be the ones left standing when the economy turns for the better. The rest won't. Where do you want to be? I know where I want to be. Those left standing will be leaner, meaner (figuratively!) and ready to see the pendulum swing the other way, back to good and bountiful times.
EDIT: One other thing I forgot to mention... join an industry group like Pet Industry Retailers (petindustryretailers.org) They are for the pet industry as a whole (lots of dog/cat boutiques, self-service dog wash etc.) but there are a handful of aquatics dealers, including myself (we could use more fish folk on there) - while a lot of the info shared won't apply to aquatics retailers, a surprising amount of info is good across the board - such as marketing ideas etc. It's free to join, $10 (one-time) to advertise your shop on their directory, and it's a great resource for all kinds of pet-related info - and now that there are more aquatics-types in the group, there's more aquatics-specific discussion going on.
Jenn