Breeding Fish For Profit Part 2 / How to make your first $1000 Breeding Fish. Real Fish Talk

Breeding Fish For Profit Part 2 / How to make your first $1000 Breeding Fish. Real Fish Talk


– Hey guys. Cory from Aquarium Co-op. Real Fish Talk, another episode. Today is gonna be part two of the Breeding Fish for Profit slash How to Make Your First $1,000 Making Fish. So, we went over a bunch of stuff. If you haven’t seen the
first one, check it out. I’ll put a link down below
and maybe right here, or something like that. Make sure that you’ve seen the first one, ’cause the first one’s
very important to see before you see this one. This one, we’re gonna focus
on vendor relationships and things like that. The first one kind of
covers what you should breed and how to identify good
products to be making. This one’s gonna focus on,
you’re making the product. How are we gonna deliver it and sell it and make our money? So. Let’s jump right into it. We’ll figure you watched the other one. You’re super interested and you want to see the next part. So the first thing you need to do is marry yourself to a store. So it might be real simple for you. You might only have one store in your area and you need to develop
a relationship with them ’cause that’s the only guy in town. It’s all you can do. Your next store is four hours
away, something like that. You need to become his friend. But let’s say you have
five stores to choose from. Like in Washington, I
might have 30 stores. Like there’s a lot of stores
in the state of Washington and a lot of competition. You need to identify the
one that you want to be in bed with, so to speak, the most. And befriend them and get a
working relationship with them. Here’s why. Let’s say you’ve got, like around my store I’ve got probably three other
stores you could drive to in under 15 minutes. And if you’re making, let’s say, an angelfish or let’s say, guppies. Either one of those, right? If you come and sell me 50 and then you go sell all
my competitor stores 50, see now you’ve sold 200
angels or whatever, guppies, and we all have the same flavor now. Most people can drive 15
minutes to all those stores. And so now what you’ve done is, you’ve put us all against
each other on the same fish. And what’s gonna happen is, let’s say, competitor A is selling
your angelfish for $9.99. Competitor B is selling it for $12.99. Competitor C is selling it for $9.99 also. And then me, let’s say
I’m selling it for $15. I’m the most expensive guy. So now, I look bad to anyone that shopped the cheaper stores. The guy that’s selling at $12.99 looks bad to the two other stores
selling it cheaper, and then those two stores
are selling it the cheapest. They’ll sell the most. I’ll still sell some,
even being the highest, and the other guy will sell some too. What’ll probably happen is, you’ll have it so I sell five out of 50. The guy at $12.99 will sell eight or 10. The guys at $9.99 will sell 20 each. And then, that’s been a month’s time. You have more angels than
you know what to do with. They’re comin’ out your
ears, and you come back to all of us and here’s what happens now. So, you walk into a store
that’s selling at $9.99. They go, “Well, you know, I’ve
got 30 of these things left. “They’re not moving very fast, you know. “I just, I don’t think
I can buy any more.” You go to store number
two that’s at $9.99. He’s telling you the same thing, going, “Well, I still got 30 of these things. “Like, I don’t know. “The market’s flooded.” You go to the $12.99 guy,
and he’s definitely like, “Well, I don’t need any of these. “In fact, I’ve got to put them on sale. “I might have to take
a loss on these things “to get rid of them. “I’m sitting on 42
angelfish after 30 days.” And then you come to a
guy like me that’s going, “Wow, I only sold five. “I’ve got 45 left. “I am gonna discount these
and get them out of my store “as soon as I can.” And we probably all
know that you sold them to all the stores at this point, ’cause we either price
checked each other, we talk. A lot of us are friends. The customers will tell
us, “Did you know this fish “is only $9.99 at blah blah blah?” Hmm, I didn’t. I wish I had known that, you know. And so now, you’re on month two and you’ve sold zero angelfish. You’re literally at zero angelfish. So now you’ve got a big
problem on your hands. You’ve got a bunch of
angelfish, they all need to eat, they all need to be heated. So then, you do the next classic mistake. You go to Craigslist. You start unloading
these fish on Craigslist. You’re going, “Well, I only get $3 “per angel from the store “and they sell them anywhere
from $9.99 to $14.99. “Okay. “If I sell them for $6 each, “I’ll get twice as much
money as I was getting. “I’ll be cheaper than all of them. “I’ll sell more than them. “All right, yeah. “I’ll put ’em on Craigslist
and sell ’em for $6 each.” So now you spend another
month unloading angels on Craigslist at $6 a piece, and you sell 50 of them, let’s say. So all right, you’ve moved another 50. So now, you moved 50 to each of us. You moved another 50 on Craigslist. You made your $300 there. That’s decent money, I’m not gonna lie. But, all the fish store owners now know that you’re unloading stuff on Craigslist. We know now that you’re breeding a product and now you’re selling it against us. So, when you come back in
again, it’s been two months now. We might have sold some more angels, and even if we needed more, we’re goin’, “Well, we’re not gonna buy from you. “You’re selling out from
underneath us on Craigslist. “You’re already selling to our clientele. “That doesn’t make sense.” And so now, you’ve broken any relationship you were gaining with those stores. So, even if you said,
“Well, I knew you guys “were floating on discus,
but I also make these “brick red swordtails. “They sell really well. “We’re gonna go well.” Why would I buy the swordtail from you when you’re gonna sell it to the customers that are coming to buy angelfish
from you on Craigslist? All right, fair, you know. So you’re breaking your trust there. So how do you prevent that problem? How do you prevent that
scenario we just had where you’re making a
fish, it’s a good fish, you had a good price
on it, but no one wants to buy it off you? Well, you’ve got to marry up to a store. So there’s those four stores. You’ve got to supply one of those stores. Pick one. Now, why was I selling it at $15? Why was I the most expensive guy? Because I know what it
takes to breed a fish and typically I am willing to pay more for a fish, so long as
you’re gonna supply it to me, I’m the only guy that has
it, you keep the quality up super high, it always
comes in the size I need, it always comes in perfect,
you’ve done lots of culling, you’ve gotten all the bent fins out, and it’s a perfect fish
every time for my customer and they love it. I might be able to give you $5 each for a fish that I sell for $15, and you always keep me in supply. It works out great. But the problem is, angels breed too many. Most fish breed too many. How do you deal with a spawn of oscars? Oh, they just crapped out 5,000 oscars. You could sell to every store in the state and you’d still be left with 3,000 oscars, so you’ve got a problem there. The problem is, just
because you made a fish doesn’t mean you’ll get to sell it. That’s the thing to know. You need to price protect
what you are selling though. So, let’s say you married up to my store, and let’s say these
are really nice angels. I don’t even know what strain, but let’s just say, man, I can’t live without these angelfish, all right? Yeah, they’re great. They’re the best ones I’ve ever seen. I’m giving you $4 each,
so that’s good money on an angelfish. You sell me 50 at the first shot, and then you’re selling me
30 every month after that. So you’re getting like $120
a month off of angelfish. The problem is, you can
still make way too many. So what you want to do
is, stop making angelfish. So make a spawn. A spawn’s gonna be like 700 angelfish, and if you know you’re
selling me 30 of them every month, well guess what? One spawn pretty much is
like almost a year’s worth of angelfish. All right? So that means when they
lay eggs every week, don’t pull them. That’s how you end up being like in the first video example. You’re a guy with 50 aquariums
filled with angelfish that you can’t unload. You raised up more than
the market can bear. That’s a bad idea. So what you do is, you
approach a guy like me. You sell me your angels and you go, “Look. “I’m flooding out on angels.” Either, A, we need to unload
these to a wholesaler, which typically you’ll go
through a store for that. Or B, you want to sell
them on like AquaBid or something like that. Like, outsource them. Get them leaving the state, and you want to make sure
that your store knows this. You don’t want them to
find out from a customer. You don’t want them to
find out by themselves. You come to me and you go, “Look. “I’ve got way too many of these things. “I’m gonna start selling
them out of your market. “And that means I’m gonna ship them away. “It should have very minimal
impact on your actual store.” And usually the bubble is a 50-mile bubble around a store. If there’s 50 miles all
the way around that store that you’re not selling
to, or inside that bubble that you’re not selling
to besides that store, that’s a safe range, and if
the store can’t accept that, you might need to play
with a different store. But I’m not worried someone
that lives 50 miles away, they’re gonna travel an hour to get to me. You can sell to that store
that’s closest to them, ’cause most of the money
for a store is made locally. So, outsource outside
the store’s selling range and be open about it. When you’re sneaky about it, all that does is make a store think you’re selling out from underneath them all the time. Other outlets you don’t
really want to sell in, the local fish club. If you’re selling on a
local forum and fish club, you may as well be selling on Craigslist. It’s one thing to donate like,
a group of fish to the club and go, “Yeah, we’re
gonna raise some money,” and things like that. It’s another thing to set up shop and go, “Yep, Cory’s Angelfish Emporium. “Stop by every Saturday. “I’ve got a million fish for ya.” You know? The best breeders I’ve ever worked with, they actually are salesmen for my store. They show off their fish
and they go, “Look at this. “I’ve got the best fish
of, blah blah blah, “you’ve ever seen.” And people go, “Wow! “That is the best fish
of that I’ve ever seen. “Can I buy some from you? “I need it so badly, I’ll
give you whatever you want.” And they say, “No, you can’t buy from me, “but you can buy from Aquarium Co-op.” Or, “You can buy from this store. “I only sell to them, and
they can sell it to you.” And what that does is, that builds loyalty between the stores and the breeder, and a good breeder knows this. They know that if they
really stonewall every time and never sell to the
public, we will buy from them that much more. We love that. We love that they’re a salesman for us, they protect our margins,
and as a byproduct, we get to buy more from them because it’s that win-win-win scenario. So, the breeder wins because
the customer buys a fish. Even though it’s not
from breeder to customer, it goes, breeder, to me, to customer. The customer’s happy because
that was an amazing fish. The breeder’s happy
because I buy more fish. I’m happy because I sold a fish. Now, people try to cut
out middlemen all the time and that’s where you get
in this sticky situation. There’s always more money to be made but it’s never long-term money. Breeding fish is a very
long-term industry. Your money is made over
long periods of time as opposed to, like, I got
in, made a bunch of money, and got out. Those people will always exist, but they’ll never be around
to make a ton of money on it. And so, you don’t want to
cut out your middlemen, because the middlemen, if they’re
doing their job correctly, should be selling a decent amount. And if the middleman isn’t,
and I’m the middleman, I’m the store, if I’m
not selling enough fish, there’s a problem. Either, A, I’m very bad at selling fish. Okay, so let’s say that’s not the problem. Let’s say I’m selling
lots of fish at my store. It’s got a good reputation,
things like that. Sometimes the price is too
high, or the market’s flooded. If you’re breeding, you know, a super red bristlenose plecostomus, and so are five other people in the area, it’s not really my fault
that they’re not selling super fast out of my store, you know. So you may just tone
down production on those for a few months, and then ramp it back up when other people jump out of the market because what always happens is… Someone’s making good money. Someone picks up that you’re
making good money on that. They start breeding it. They’re on the way up. Oh, a few people are breeding it. I should get in on that. It must be good money. So it really surges, so
production’s way up here, but all of a sudden the price
for that fish is down here. So then, after the surge
starts coming back down, less are being produced, more people are getting out of it. It’ll come down. You think like, “Why
isn’t the price rising? “Less people are making it.” Market’s super saturated. So basically, it has to crash. And so, the people that
are making this fish are still going down. Here’s the price. The amount of people making
it’s below the price now. No one’s making. Everyone got out. So then what happens is, naturally no one’s making this fish. Give it three or four months. Well, super red bristlenose
used to be everywhere. I don’t get it. They used to be like $3. They were super cheap. Everyone had ’em. No one’s got ’em. Guess what. The price starts going up a little bit. We have to ship them in from out of state and then pretty soon, the five guys that are making bristles are going, “Wait a second. “They’re paying $6 a bristlenose again. “Hold on, I’m getting back in. “I’m getting back in.” And then it’s gonna do it again. So, you need to be, you yourself, the guy watching this video, or the girl, whoever you are watching this video, you need to be the stable
guy, the stable person, so that when the price is here and we’ve got elevated production, everyone and their grandma’s making ’em and it’s crashing, you’re
the one person still there making them, and you’re going, “Yep.” So we’ve figured out that
the price line was $3 and you go, “Yep, I’ll
supply them to you at $3. “I’m not gonna jack up the price to six.” $3, because you know what? You then control the market. So everyone that needs
a super red bristlenose has basically got to come through you. And it’s all at $3, and if you
raise the price to $6 again, the other guys just join back in. They’re gonna drive it down. So you’re gonna go, “I was getting $6 “and then I was getting $4
and then I was getting $2 “and then I was getting nothing “’cause I couldn’t sell any of them.” You’re much better off
getting $3 every day for years and years and years and years than $6, $4, no dollars for five months and then back up to $3,
and then no dollars. You want slow and steady so you can get your production rate dialed in to how many are actually sold. And that’s a very important step. Most people go, “Well
I made a blobbity-blah. “I can breed rams. “Well now, I’m gonna be
the biggest ram breeder “you’ve ever seen. “I’ve got five million rams.” That doesn’t do you any good. You need to diversify. That’s kind of another topic, or more speaking about that. So, we’re marrying up to a fish store. The other thing you want to do is, you want to marry up to
the way they do business. So if you know that you’re
gonna breed African cichlids, it does you no good to
marry up to my store. I don’t sell very many
African cichlids at all. And so, you want to go to a store that is gonna sell a lot of Africans, and it’s the same token
when you’re varying your products that you offer. It doesn’t really do you much good to go, “Well I breed discus. “I breed African cichlids. “I breed guppies. “And I breed Apistogrammas.” Because typically the same store isn’t gonna be known for all of those, and you’re not gonna be
known for all of those. You’re gonna be known for,
yeah he does okay discus. He does great African cichlids. His guppies are, eh, they’re okay. And then, I don’t even remember
what the fourth one was but maybe that’s not so good either. You want to be known as the guy like, “This guy, he’s got Corydoras
and guppies dialed in. “Like, this guy has got it goin’ on,” or, “Oh man, you’re not
getting Cory’s swordtails? “He’s got the best swordtails around.” You want to get something you’re known for and then branch out from that, and you just want to keep
adding stable product lines to what you offer. What you don’t want to do is, let’s say no one’s buying
your super red bristlenose. You don’t want to stop breeding them. You want to continue to have them at that $3 price point… Let’s say you needed five
tanks to keep up with demand for the last three years. If no one’s buying ’em,
scale down to one tank. You’ve still got them. If someone said, “I need 20 bristlenose,” you can go, “I’ll have them
there to you tomorrow.” You want to be able to fulfill that order, but use some of those other things to do some other things, like, “Oh, I’ve got guppies. “I’ve got green dragon
bristlenose going here. “I’ve got Corydoras goings in this one,” so that your offerings expand. So let’s talk about other ways
to interact with the store. One, you want to come in with
some market research done. And so, you need to know what
something should sell for before you tell them the price. People all the time,
they come in and they go, “What would you give me for…” Let’s just pick a fish. Let’s say it’s a green Moscow guppy, and I go, “Well, I mean, I
guess it depends on quality, “and how many fish are we
talking, and how big are they? “Are they ready to sell right away? “I’d like to see some.” And you’re just gonna get
all these ambiguous answers from me because I don’t know the quality of product you have. You might think it’s the best. I might go, “Well, I’ve
seen a lot better.” Or I might go, “Wow, you do have the best. “What do you want for them? When you leave it to us, it
puts us in an awkward situation where we don’t want to offend you, but we also don’t want to overpay, so we end up skirting around the thing, dancing around for 30 minutes going, “Well, uh, well, what do
you want to see for it? “What do you want?” And it makes it a lot easier on us if you come in with a
piece of paper and you go, “Look, I’ve got Green Moscow guppy pairs “that I want to unload at $6 a pair. “They’ll be full grown.” And you showed up with a sample. I can’t stress that
enough for the breeders. Always come to a store with a sample. And what that means is, if you’ve got 500 guppies sitting
there, you need to bag up six pairs, and you need to come to a store that you want to make friends with, and you come with a piece of paper. It’s got your little, what
you’re calling yourself. You know, Cory’s Aquatics. Jim Bob’s Blood Parrots. Whatever it is, and then
it says the price list. It goes, okay well, and
your contact information. Oh my God. I almost forgot that. That is the worst thing ever. But, that’s what I want
on the piece of paper so that we can contact you
if something was to go wrong or these things are selling amazing. So many people go,
“Well, I’ll stop back in “and see how they’re doing.” We need an email address. We need a phone number. We need these things so
we can call you and go, “Hey, we need more.” And you want us to do that. So, a piece of paper that says, “Green Moscow guppies, $6 a pair,” your contact information, and then you give the store six pairs. And why do you give the store six pairs? Because we don’t have to evaluate whether that fish is worth $6 or not. If you give me six pairs,
and I put them into a tank and they live, and they’re doing well, and I sell them, instantly I know the price of $6 is justified,
because that means that I made at least $12 off that pair, and that I can get $12 means I can pay $6, and you started with goodwill. You started a transaction
between, let’s say, it’s you at home breeding
and me, the store owner. You walked into my store one day, gave me a piece of
paper, and then handed me $72 worth of fish. That’s a great way to start,
as long as I sold them. So when I see you next I go, “Hmm. “That worked out pretty well. “What else you got?” “You got some more of those? “I’d like to buy some of those. “I’d like to keep making money from you. “That was a good start.” And you can never really
have that conversation go badly if you start
out with donating fish. Now, if you walk in and
you talk me into buying the six pairs at $6 a
pair, and I invest $36 and none of them sell and I see you two or three weeks later, when you walk in I look at you as a $36 loss,
and I’m not excited to see you and I don’t want to hear
about how you’ve got the best super red
bristlenose I’ve ever seen. I’m going, “Well, I heard
that sales pitch last time “and they’re not selling. “That’s the problem I’m having, so…” So yeah, you need to test your market. You always want to donate fish, and I know that seems counter-intuitive, but realize, in a market
where you might take $1,000 from me every year off of one tank, to hand me $30 worth of fish
to start that relationship is a no-brainer. And so, a lot of breeders,
they’ll always bring a sample of the fish before
they negotiate the price. Everyone’s on the same page. And sometimes we might go, “Well…” You know, a good breeder,
usually they’ll bring in a fish. They won’t even ask for the price. It won’t be the first time
you’ve ever dealt with them, but they’ll bring in a fish and go, “Let’s see what we can get for this fish. “Okay, oh wow. “We’re selling that for $20 a pair. “All right, I can give
you $8 or $9 a pair,” when they might have put
down on paper $6 a pair. But we found that out because
fish were donated to me, I made money, and I go, “I think this is a sustainable thing. “This thing sold out pretty quick. “I think we can do this.” And that’s an important aspect, is the relationship
between you and the store. So, protecting that at all
costs is pretty important, building that relationship,
and the end goal is that, you start with
your Green Moscow guppies. Now you’re selling me
super red bristlenose. Now you’re selling me
cherry shrimp and Java moss and snails and and and… All of a sudden you might
be showing up to my store once a month and I’m writing you a check for $400 or $500. That feels pretty good you know. And that’s a sustainable thing. When you can start counting
on income like that and you’ve got four,
five, six months in a row where you’ve gotten at
least $200 out of my pocket, you can start going, “Well,
if I take all this money “I’m making and I start
investing into more tanks, “maybe a little more space,
something like that.” It’s reliable, but a lot of people get that first $200 check
and they go, “Oh it’s on. “I’m gonna invest thousands of dollars. “I can see where this is going. “This is gonna be great.” And it doesn’t always work out that way. Breeders, they don’t
think like a store does or the public does. Like they don’t realize
that you’re cranking out, let’s say you’re selling
500 guppies a month to a few different stores in your state outside of each other’s ranges, and you’re shipping them online. Then summer hits. You’re still cranking
out 500 guppies a month, and yet, no one’s selling guppies. No one buys fish in the summer. So you’ve made this facility,
you’ve got overhead, and you’ve got all these problems. You’re going, “No one’s buying fish. “I don’t get it.” Well, it’s the summer. No one is buying fish, so… You’ve got to take it slow and build the correct relationships, and remember who helped
you build your empire. So, when the guy that took a chance on you buying your fish keeps doing it, you don’t want to forget the little guy, even if you become the biggest trophyist breeder in the world. Always take care of that store that helped you get your start. Go through your middleman when you start selling wholesale. It usually will just work out better. So what’ll happen is, let’s say you’ve got 1,000 guppies in excess. Let’s pick an easier number. 500 guppies. That’s a more logical number, that you need to unload to a wholesaler. Go through your store and say, “Look. “I need 50 cents per guppy. “I don’t care what you can
negotiate with the wholesaler “but I need the 500 guppies
to leave next month.” And if they can sell
them to the wholesaler for 40 cents or 35 cents, don’t be angry that they’re making 15 cents off of every one of your guppies. Be happy that it was a
win-win-win scenario, so that you got rid of your guppies, you got money you needed. And maybe they said, “Well,
I can give you 40 cents “’cause they’re only
gonna give me 30 cents “and I’ve got to make 10 cents “and that puts $50 in my pocket.” And you’re thinking, “Well,
you didn’t do any of the work.” We are doing some of the work. What we’re doing is… You’re using our
relationship with our vendor we buy from, of you
know, tens of thousands, hundreds of thousands of
dollars a year from them, and we’re putting our
reputation on the line that they’re gonna enjoy these fish and they’re gonna be able to sell them. And so, when we take that fish from you we’re gonna want it to arrive, like let’s say our fish delivery, let’s say it’s a hand
delivery and it arrives on a Wednesday. We’re gonna say, “Well,
I need those 500 guppies “Wednesday morning. “They need to be bagged like this.” Let’s say it’s 100 guppies to a bag, or 50 or whatever the
wholesaler’s gonna want. We’re gonna put ’em in a
Styrofoam and a heat pack and get ’em all ready. Then, we’re gonna get our fish delivery and we’re gonna hand all those
fish off to the wholesaler. And typically, we don’t even get cash. That’s the thing. We’re gonna get credit. And so, when we’re saying,
“We’re gonna get 30 cents each,” we’re gonna get 30 cents credit each or we’re gonna get 40 cents credit each and we’re gonna give you 30 cents cash, so we make 10 cents per guppy, but we’re just the middleman
and we made it easy. So instead of you having
to drive four hours to go unload those guppies
and somehow get your way in the door with that
wholesaler, we make it easy. You show up to us. You make your delivery
like you normally would. Like, here’s 500 guppies
for the wholesaler. Oh, here’s the 30 you needed, and these other fish you needed. Oh and by the way, while I’m here, I’m gonna buy this brine shrimp. And then we unload that to there. It’s a win-win-win. The wholesaler should be happy because they go a locally-bred
fish that will live and be nice, I’ll be happy
’cause I made some money on it, my store stays stocked, I
can get it at a cheaper rate. So it’s a win-win-win. You still went home with
money in your pocket and you can further your fish room. The last thing I’m gonna talk
about in this episode is… Just, don’t shoot for the moon, that you can always gouge
someone and get more money but it won’t work out
long term, I promise you. No one likes being taken advantage of and if you’ve got something that the store just doesn’t know how
much it should sell for… Like let’s pretend I don’t know how much a yellow lab cichlid should sell for, or I say, “I think I can
sell them for $20 each.” It’s your duty to go, “Well, I feel like “the MSRP on this fish should be $7.99 “and that’s why I’m selling it
to you at $2 per yellow lab. “And I recommend you sell it at $7.99. “That’s four times your money, “and you’ll sell a lot of them. “If you’re at $20 a piece,
I’m afraid you’re not “gonna be able to move
enough of them for me “and I’ll have to use a different store. “I’d much rather see you
make four times your money “over and over and over again, “which means I can make a lot of them “and sell a lot of them,
versus you sell five at $20 “but I make $50 a month. “That’s gonna be a problem for me, “and so I need you to sell them lower.” That’s part of your job too,
because a fish store owner, as good as they are, they
don’t know every market. They might not know it’s like, oh well, no one’s got yellow labs, then it turns out, well
this store and this store do and they’re selling them at $6 each and you’re trying to get $20. You’re gonna look bad, like just an FYI. I’m not even selling to them, but I’m trying help you make
money so that I make money. Yeah, I mean, ’cause you’re going, “Well, this guy’ll buy 20 off me “and he’ll give me $8 a piece. “Okay, that’s $160.” But you’ve burned that bridge. The minute he finds out that other stores are retailing them at $6 or $8 or whatever it is, he’s gonna look at you
goin’, “That’s that guy “that basically stole from me. “That was nice. “I’ll never buy from him again.” So that’s all part of that relationship. And when you’re in the
big time, so to speak, you might have a
relationship with two, three, four, five stores that are very far away. Like you might go, “Well, it’s
a two-hour trip over there “and I hit two stores while I’m over there “that are 75 miles apart. “And then, this part of the month I go “over to the west and I
hit two stores over there “that are three, four hours away. “And then I go south one week.” And you put, as far as your
car can drive in a day, that’s where you want to be unloading fish all around the epicenter
of your home store that’s the closest to you. Take care of them first. Branch out as you can, but they’re always gonna be the easiest. There’s nothing better
than, oh let me go unload a buttload of fish to the guy
that’s 10 minutes from me, and I can do that every week, versus, oh my God, it’s four hours out there. Yeah, I’m gonna unload to two stores. Only one store’s buying this week. Uck. That means I’m only getting
half as much as I should. And then it’s a four-hour trip back. Like ugh, man, I’m eight hours in. I’m only making this much. But if you don’t keep selling to them, they’ve got no reason to buy from you. You’ve got to be the consistent guy. So your home store is
the one you really want to take care of. They’re gonna buy from you all the time. It’s the easiest to work
with, that type of thing. And then, so you’ve got
all those supply chains. If you can outsupply
those, maybe it makes sense to go online, but I’ll tell you, selling online is its own bear. Everyone wants the
personal level of service. Well, I need you to only
ship it on a Wednesday. Oh and, make sure you have
it held at the post office. Oh, and make sure you do
this, and this, and this. And make sure you only ship me five males and one female because
it’s gonna fix my ratio. If you don’t remember that,
that’s gonna be a problem. Oh by the way, I forgot. I’m actually on vacation, so
you can’t ship it next week. Oh, my work schedule got changed. I need you to ship it on a different day. Can you please hold that? Oh my God, it’s snowing. Don’t ship it. All those things happened in a week. All those things happened in one week, and you’re going, “Well I
still have to go to work. “I am still breeding these fish.” Like, you’ve got your day job, then you’ve got your hobby
job, which is the fish room, and you don’t want to be managing all those other customers. So, it’s a lot easier to
go, “Well, every Saturday “I deliver a buttload of
fish to my local fish store. “Isn’t that nice?” Versus, “Oh yeah, I got
12 packages going out “and they’ve got to go
out on a different day “at a different time, with
a different parameter. “And this one wants FedEx. “This one wants UPS. “This one wants USPS.” So… It’s a nightmare. But we’ll go into that in another video, shipping fish and doing stuff like that. This is just episode number two. Developing a good relationship
with your local store for a local outlet, that is the
easiest money you will make, is a local outlet that can
buy regularly from you. I promise you that. It might not be the most money you make, but it will be the easiest money you make. And for me and many other breeders, it’s our favorite way to make money ’cause it’s super easy and
they’re a great source to have. When you go, “Oh I’m
really looking for this,” they go, “I’ll buy you that wholesale.” And a lot of times I’ll
give fish to my breeders. I’ll go, “I’ll give you the first batch. “Here, take these six fish home. “When they breed, give me the first batch. “We’ll call it even, then
I’ll buy them from you.” You know and so, you’re
not putting money out all of a sudden. It’s a great relationship to have. Make sure you watch the first episode if you already haven’t. Check out our other
episodes on other topics. We do, you know, a day in the fish room. You can see what my fish
room’s like, things like that. Quick tip Tuesdays. We appreciate you watching, and tune in for the next one. Thanks guys.

100 thoughts on “Breeding Fish For Profit Part 2 / How to make your first $1000 Breeding Fish. Real Fish Talk

  1. I have a good relationship already bc I only buy from them even though sometimes they do not have the best fish

  2. I want to thank you for taking time to share this valuable information. I am 50 years young and have many years caring for Cichlids.  Many years ago I was selling Angels to a LFS that had a falling out after a few years of dealing and I sold off all pertaining, but kept personal favorites. I am setting up a Saulosi Cichlid breeding/grow-out room currently. I have the 55 gallon breeder tank ready and waiting for first colony to arrive. My 180 gallon dwarf Mbuna maintank is my pride and joy. I believe it's good for me to sub your channel and I hope you would take the time to look at my channe,l and share thoughts, and possibly sub back. Thanks

  3. Never had a business before, but these seem like great general business practices. Very informative video, subscribing!

  4. so basically lets say guppies, i should buy a quality trio and breed them and sell to the store so there getting a unique fish that only i gave to them ?

  5. right on, no loss on my part just need to get rid of them. that's one thing I like about you man, you don't beat around the bush it's always a straightforward honest answer . thanks for your time it's appreciated

  6. How do you sell guppy pairs? Do they already have to have had fry together? (Breeding pair?) also how do you as a store sell them? Like if I came in and gave you 5 pairs of 3 different strains of guppies (30). How would you sell them, like all in one big tank- separated pairs or will the customers pick how many they want ect. Also why pairs? Will stores accept trios or just males why or why not just random #'s of each? Thank you:)

  7. `I only have a 10 gallon tank with a thermometer and filter. I have 1 male and 2 female guppy at the moment. The females aren't pregnant yet. Is it worth my time to keep breeding them?

  8. Great video series! VERY knowledgeable. Im looking to get into breeding perhaps guppies to start and see where it goes from there. I had mollies breed in my tank once,so many mollies at that time.

  9. Love this series! So funny I was thinking of the free fish trial with "let's see what we can get" when I started the series! Such down to earth advice with an insider perspective. Love it. Thanks man!

  10. watch the video at 16:20 to 16:25. See if you can find my favourite line and favourite part of history XD

  11. Here In Mexico City the only big fish seller are 2-3 huge markets at the other side of town from me so in my part of town the minor pet stores have a bit low quality so if I sell em a bit more expensive and better quality I'll have a monopoly on the market

  12. How do I do market analysis in a city with only 3 fish stores and as far as I know only one of them sells freshwater?

  13. So I've come up to a dilemma, there are no local fish stores in Gwinnett county here in Georgia that sell guppies, or anything like that! Is there anyway to get around this? (Probably not im guessing)

  14. Hey! Thanks a lot for all the work you are doing for us:)

    There is one thing I am not very sure and It is about how do we first enter in contact with the fishstore, are we just like calling them and then come over there and show our samples? If you are reading this, It would be cool if you answer! Thank you a lot

    A 16 y/o fishkeeper

  15. would it be weird to write up a contract with the pet store you're "in bed with" about price and how often they buy as long as theres reasonable stipulations on your part

  16. Geez 700 angels in a spawn? Wow. Amateur hour here (points at self) lost my first two spawns entirely. On the third twelve lived, but half were derpy and I culled them. The six remaining I kept in my show tank and grew out to full size. I was super proud of that. 700 angels, wow.

  17. Ok I got it I have to marry a store I what day should the wedding be what dress do I want to were what flowers

  18. Cory I am kind of merrier to my lfs but the owner has a hard time to be at shop but another store 30 min away the owner is always there and negotiates price over phone and tells me how he wants it

  19. Would electric blue acaras be good to breed and sell to a lfs. I have experence in the past but i sold them myself then stopped

  20. What do you do if there is only one store within a 25 miles (which is a chain store) and the next is 100 miles away?

  21. I am going to start to breed Fancy Guppies for profit. Kept a lot och fish in my life, but I always have atleast 1 Aquarium with guppies. I love them. So that will be the best way for me. Because then I can make good money on a fish that I really like to take care of. 🙂

  22. I have watched this before, but it is great that your old videos came with so much info, so you can always go back again. 🙂 Thanks Cory.

  23. I would have done it all wrong lol. Great teaching. It's like any other relationship, being honest and professional. I'm so interested in the plant end with snails and shrimp.

  24. In a densely populated area , you could sell to every store and it wouldn't make a difference, as long as the fish is in demand.

  25. Thanks for the advice. At the moment experimenting on different techniques on breeding a few bettas

  26. Aqurium Co-op fish is more expensive but thier fish are quarantined and healthy and for me personally I have never had a single one of their fish died on me or be sick unlike the competitors. Because they quarantine and medicate their fish you get what you pay for.

  27. Will any big chains like petco, petsmart, or petsupermarket buy from local breeders? The only local guy lives 30 minutes away while I have these three right next to my house.

  28. I know this video was along time ago but is it okay if you sell guppies and shrimp to store A but they dont want your Angelfish is it okay to sell your angelfish to store B because your main store store A didnt want them. what would the proper protacal be?

  29. Check out video #3 in the series here: https://www.youtube.com/watch?v=GMeMEMTF7j4&index=3&list=PLNM4mDAXGxWwC6MUCEY5CDc2en17DEuHu

  30. Selling online is the way forward in this industry. I can provide fish cheaper to my customers delivered to their door than they could possibly sell in a store with massive overhead costs. It is also a good way to target specialist fish keepers who are looking to buy the rarer stuff. If you're selling to local stores you are limited to run of the mill fish that sell for pennies because that's all they sell to novice fishkeepers in the local area.

  31. A long time ago I made the silly mistake I brought a fish room with out a clue to breed fish 120 4ft tanks and a lot of random fish. I made no money was so dumb but I was also young after a while I worked out how to breed angel fish (pre YouTube) I then reduced my fish room to 6 tanks and was turning out over a $1000 a month. It’s easy to get wrapped up in an exspensive hobby

  32. What advice would you give some one in central WA. Im in Wenatchee and want to start an aquarium business and hopefully branch into fish breeding for a little extra income. Problem is it's all small towns and only a Petco and petsmart are near me.

  33. Well I live in a place where petco is the closest fish store for 6 hours, and I dont think they'd buy from a local breeder, so maybe selling through craigslist or word of mouth is the best bet. There also just might not be enough people into the hobby here to sustain livelihood from selling fish

  34. when people see my fish room , i say yes all the fish go to this shop they take as many as i can breed you can buy them there , loyalty is the key not usary in business never back stab , dont be a scab

  35. since i make my own fish food would that cut cost enough to up profit? or would it not be worth it. I plan to breed guppies and endlers (with some other things mixed in like shrimp). But I'm not sure how much food costs a year for say, two 30 gallon tanks. I produce enough frozen daphnia and mosquito larva to sell to my store. I breed in the spring summer and fall, sterilize and freeze it, then sell. So if I scale up to feed my breeding fish and still keep up with store demands, would it be worth the effort?

  36. You're a shark that looks like a guppy Cory lol. 🙂 Great video. I sold shrimp as part of the hobby they breed like ants for me in local water. What surprises me is that local stores are not more interested in my indestructible local shrimp in local water parameters and other fish here. It did support my hobby and some. Definitely a hobby. Sometimes I feel like it's a biology project. How 'dirty' can the tank look and these guys keep breeding like crazy! (Shrimp don't like a perfect tank). I learned a lot. I hope more local stores start to buy local bred from hobbyists.
    As a buyer, I would appreciate that more.

  37. Also, every time I read 'hope your fish breed' I shake my head in amazement since I'm not sure what to do with 1000 Angels, etc. When I destroyed my Angel eggs I got a lot of whys. I was amazed!

  38. I've always wanted to pick something to breed just as a hobby for fun but I didn't know what to do with the babies, so I never did it, I had no idea that stores would take them from people ! I assumed they had to buy from someone with some sort of licensing. I didn't want my family and friends to get sick of getting fish as gifts 😁 maybe I will give it a shot and see if they will take them off my hands. I don't even want to be paid, it would just give myself assurance that they probably got a decent home.

  39. If I was interested in doing this (the 20 gal guppy/shrimp combo) would you recommend sticking to just 1 strain of guppy, or getting 2-3 different male/female pairs to start, and just letting them interbreed?

  40. I dont get it, so do you have to do something special to make the fish breed? If they just breed on their own or whatever and the store doesnt want to buy anymore at the moment then why not just kill off the unwanted babies? Unethical or something?

  41. To "marry" yourself to a store is just a poor business strategy. No single store will ever be able to take everything you have or to keep up with your production rates. so unless you want to have hundreds of surplus fish while you wait for that store to want more you will HAVE to sell through other means…you're just giving the store control over you and that limits your potential by doing so. Have a main store not a single store… one main store that takes the majority of your fish or takes fish consistently. Then find stores 15 miles in the opposite direction. In my expierence unless it's a specialty shop like a mom and pop fish store people won't travel further than 10 to 15 miles to go to the same petco that's just a couple miles from their house. Sell through as many avenues as you can as long as you don't sell to a store or people within that 10 to 15 miles of one of the stores you supply then you will never have a problem and no good store owner would be upset Infact they would and should be happy to know they aren't the only store interested meaning it's a good product.

  42. Hey Kory! I would like to sell some fish to a local fish store, though I love livebearers and plan to raise some goodeids and I would like to participate in the local fish club auction with the rarer fish. Then sell the more common fish like guppies to the fish store. Do you think this would aggravate the fish store? What is your advice?

  43. I like the video but I just don't get some parts of it. In a retail store you purchase an item and sell it for a markup. Usually double. In this situation it sounds like a breeder who has taken time and effort to breed a fish is not worth as much as a wholesale company. They have to come in and give away fish as samples and hope to get under 33% of the whole sale price because the breeder needs to build a relationship with 1 store ? So you saying the store would rather order a huge company wholesale pricing (which is more than the local breeder) and over night shipping than supporting a local breeder and paying then the worth of the fish ? I just don't get it. I am trying to understand but it just sounds like the middle man is really just trying to take advantage of the local breeder. I'm not trying to be disrespectful just trying to see your side of this topic.

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