What should I check before buying an aquarium or fish store?
Check five things beyond the general buying checklist: the condition of the tank, filtration and water systems, how often livestock has been lost and why, how much the shop relies on one or two knowledgeable staff, who the regular hobbyist customers are, and which suppliers and importers the owner buys from.
An aquarium store is part retail shop and part life-support system. Its stock is alive, its display tanks are working equipment, and its best customers are hobbyists who come back because someone there knows fish. A buyer who reads only the financial statements can miss most of that. Build your questions around the systems, the livestock and the people, and walk the shop at opening time as well as in the afternoon.
Tank, filtration and water systems
Ask for a list of the display tanks, holding systems, pumps, chillers and filters, with their age and repair history. Ask who maintains them and what happens during a power outage or a failed pump. Have a person who knows aquatic systems look at the plumbing and backup equipment with you. Repairs that have been put off are easier to find before an offer than after closing.
Livestock loss and the people who keep it healthy
Ask how the shop records livestock that dies or has to be written off, and what the owner thinks caused the worst losses. A pattern tied to one supplier, one tank or one season tells you something. Then ask who actually does the quarantine, feeding and water testing. If one person carries that knowledge, ask what would keep them on after a sale.
Hobbyists and supplier relationships
Many customers of a fish store buy because of the person behind the counter. Ask how many regulars the shop has, what they buy and how they hear about new arrivals. Then look at supply. Ask which wholesalers and importers ship livestock, whether any account is held in the owner’s name alone, and whether the supplier will keep selling to a new owner on the same terms.
- An equipment list with ages, repair records and the maintenance routine.
- Records of livestock losses and how each was handled.
- The staff who hold the fish-keeping knowledge, and their plans.
- Supplier and importer accounts, and who they are held with.
The general steps in what to check before buying a business still apply. How live animals are handled when a pet store is sold covers the closing day.
Related reading
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Selling
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentAfter buying a business, what is the next step?
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