Lds

Are there any dive shop owners here that wish they had never opened their own shop?
I worked for a very close friend at his LDS for around a year and he closed due to personal reasons. Though he never made a killin he did do pretty well around the area. He offered very good service and was well know around the area. I was thinking about taking the shop over and givin it a shot but I know that the bussiness is up and down. Ive seen days where people come in all day and days where noone comes in.Just wanted some professional opinions on this. Also would it be easier or should I say better if I start over fresh or try to buy his inventory.

Where's Mike Ferrara when we need him?

My old CA. LDS owner used to say, "Wanna' know how to make a million dollars owning a dive shop? Start with two million!"

the unknown areas of Kentucky this weekend. A lot of of how well you will do with any small business depends on your personality and attention to the myriad of details that must be attended to.

If you can offer what your friend offered and it hasn't been too long since he closed the place you might have good luck re-opening the business due to name recognition. Also your friend may be able to help you with information and advice.

Good luck.

The shop has been closed for a few months now. i could offer what he offered and maybe a little more. he made a few unwise bussiness decisions. The guy he bought the shop from had the shop for many years. aslong as i can remember. Plus he moved it to a better location.

if you have the time and the money, go for it. It seems as though there is a need or a market there for a LDS. One thing to think about. A LDS is a retail business; do you want to be a retailer? Can you merchandise the store to make it attractive to your clientle? Also, can you survive with the competition from internet sales companies?

jbd once bubbled...
Also, can you survive with the competition from internet sales companies?

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Given the impact of internet sales on almost any market, I think this is a vital question to ask for anyone considering opening up a local store. My other hobby - reefkeeping - faces similar pressures. LFS (Local Fish Shops) must compete with online vendors who can stock a wider variety of items in enormous quantities, incur significantly less overhead expenses, provide their wares to interested buyers 24/7 from the comfort of their own home, and offer substantial savings to boot. For reefkeeping hobbyists, the necessity of adding overnight or other priority shipping costs on many of the items we order raises these prices substantially - but they are still often far less than similar merchandise purchased at the LFS.

From my admittedly limited observation of this phenomenon in this - my new hobby - I see the beginnings of the same trends and debates that exist in the reefkeeping community. I'm making no judgments about the "rightness" or "wrongness" of purchasing locally vs. purchasing online - just pointing out what appears to be an obvious and important consideration.

If you have the extra time, money and patience and really enjoy S&M that much. Go for it.

If you sober up in time. Give it a LOT of thought.

The first few years of owning a shop you'll go without sleep, food and money. Deal with rude customers and arrogant, aggressive sales people that are doing you a favor by letting you sale their equipment. Then things will get rough.

CRESSIDVR9 once bubbled...
Are there any dive shop owners here that wish they had never opened their own shop?...

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Yep, I would be one of those.

Owning you're own business of any kind can be hard. The diving industry has its own enique set of quirks. Those are the things you need to know about before you jump in.

Why not just be the store manager and let him continue to own it? You can have a salary-plus-commission based on profitability. Maybe even work out an agreement that over a period of time you can purchase it.

My only concern with your plan to offer him what he offered plus some is that you may be overpaying. There are better ways to analyze the value of a going concern.

PM me if you like - I am in the finance field.