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Lfs shutting down

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Hi guys.

Hearing rumours that another LFS has shut down on the gold coast. Has anyone heard of this at all?

Hoping it is all rumour but can't find anyone to affirm or deny

Thanks

Brett

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why would a local fish shop not go broke, all everyone on here wants to do is buy cheap fish and not pay a decent price for anything

You just have to give people what they want + a bit of personal service.

A decent price.... is what people are prepared to pay.

Work that out, and you will make enough sales.

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You just have to give people what they want + a bit of personal service.

A decent price.... is what people are prepared to pay.

Work that out, and you will make enough sales.

with respect...I don't think it's as simple as that when the shops running costs are factored in.

It's quite obvious that good price, good product & good service...just isn't enough to stay in many small retail shops.

It's the bigger franchises that are here to stay and the smaller outlets just can't compete with their buying power.

The mounting costs (of water, power) is driving even some of us out of the hobby, it's sadly a vicious circle, we can hardly be surprised when yet another shop closes it's doors.

Edited by kirrabeach2

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If I may, in the most humble way, perhaps expand on what I had said............

All hope is not lost for lfs.

You just cant play the game the way we did a decade ago and think the results will be the same.

Lots of us out there with tanks that like to visit lfs AND if we find things we are chasing, spend money in them.

But ya gotta stay in touch with the market, ya gotta know what people want.

If you cant compete on price with the big guys on certain products, then stock different ones.

This is a massive hobby, with massive variety and massive potential.

I dont think people should be depressed by seeing stores close, but rather they should study them.

Perhaps then, more stores will open and less will close.

work smarter

not harder

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Its not ... just LFS facing these issues .. most brick and mortar buss are all in the same boat .. we are in and contribute to a volatile and changing face of retail.. ( People go to shops to check stock out then back to PC or iphones to chase a far better deal its happening and we are the guilty parties ... THESE ARE CHANGING TIMES IN THE WAY WE SHOP)

The 2 main killers are WAGES and Rents .. if these were more inline with todays Online oportunities then retail will and should flourish at the Bricks level.. We are dammed if we do and dammed if we don't ... (sorry not to steal the threed but this also means oportunity .. just have to be flexiable and able to adjust to the new oportunities ) those that can't bend or see the oportunity will Break and fold like a dry desert twig.

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Its not ... just LFS facing these issues .. most brick and mortar buss are all in the same boat ..

The 2 main killers are WAGES and Rents .. if these were more inline with todays Online oportunities then retail will and should flourish at the Bricks level..

The simple fact is that if a LFS is paying rent then it has a bleak future, if it owns the premises then it has a good chance of survival, provided that in owning those premises the mortgage is sustainable. Waqes are not a big issue - retail shop assistants are not exactly paid big wages, and numbers employed reflect how busy the shop is.

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