When you first started your guppy hobby most likely you started out with a few fish and one or two tanks, and have become so involved in this hobby that you really want to expand upon it. You may be able to do this by turning your guppy hobby into a remarkable business but if you are even giving the slightest thought to this there are many things that you need to consider.
Are you allowed to start a guppy business from your home?
The first thing is that your guppy business will be like any other business meaning that it must adhere to all of the regulations in your area when it comes to setting up and maintaining a business. You will have to seek out what licenses are necessary and whether you are able to operate this type of business from your home.
In some cases the bylaws will not allow you to run a home business if your area is classified strictly as residential. So your first step is to determine whether you are even in a situation where you are able to do this.If you aren’t then it means that you need to find a commercial location and this means a lot more cost.
Do you understand the cost factors?
The next thing that you need to consider is the cost factor of setting up for a business. If you have just a small hobby operation at the moment then chances are you’re going to need a lot more equipment. As a guppy hobbyist turning to a business you are going to need to breed and this means that you have to have a proper breeding setup. Plus you have to factor in all of the other additional costs that will come with the maintaining and operating of the business. In the end you need to know that there is a potential here to make more money than what you need to spend.
Is there a need for what you are going to offer?
Then you have to determine whether there is really a need for what you are going to produce by way of guppies or if there is a possibility that you can create a unique need. If you have several aquarium shops in your area then these are automatically going to become your competition where at one time they were your provider. If you look at their establishments you are going to see that they have many more advantages to them compared to what you have, but that doesn’t necessarily mean that there isn’t a place in the guppy business world for you.
If you don’t have a lot of suppliers or any in your region that specifically cater to the guppy hobbyist then you have a increased chance of making a successful business. If your restrictions are that you cannot operate a business from your home that doesn’t mean that you can’t to do a online business, however this would mean that you would not be able to open your business location to the general public but would be restricted to working online.
You would have to look at the feasibility of being able to ship your fish or whether you would be in a position where you would have to deliver them if you are going to just service your local area. Then over and above this to increase the profitability of your business you would also probably have to get into selling the accessories that go with the guppy hobby.
If it’s determined at that you only want to sell the fish and not the accessories then the chances are you’re not really going to be able to build your business out as you will probably find that the amount of money that you make per fish is not very substantial.
Is there a remarkable opportunity?
There are many different approaches that that you could take to setting up a guppy business but it really takes a lot of thought and no matter what type of business you’re going into there is always a certain amount of investment. You really need to start with your research first to see if there is a need for what you’re thinking of offering and then you need to develop a very solid business plan.
If you can make your guppy business unique then you probably have a better chance of making it successful. In addition to supplying the guppies perhaps you could add setting up guppy fish tanks and maintaining them as part of your services. This would mean that you would have to go to the locations of your clients, but perhaps your area would support this kind of business?