It is estimated that 7.2 million households have a fish tank, and the majority of them don’t know how to properly clean and maintain their tanks to ensure that their fish stay healthy. Because of this, tank service companies are in high demand, yet are often spread too thin to meet the needs of the many households who need them. In fact, most people are unaware that home fish tank maintenance businesses even exist.
If you love caring for and learning about fish, this might be a perfect home business opportunity for you to consider. Whether you are looking to supplement an existing financial situation or want to branch out to a specialized business sector, this is a promising and affordable way to get started.
Pros and Cons of a Home Tank Maintenance Business
Overall, you will have low startup costs because the required supplies can be cleaned and used over and over. Chemicals and other special water treatments are often specific to the client’s needs, so they may not need to be part of your initial overhead. Therefore, you can purchase what you need as you need it.
You will also be working from your home, and although you may set up an office area, you won’t have to pay additional rent. In fact, you can write off this workspace in your taxes.
If this is a side gig, then you can set your own hours. It also gives you room to expand into a more specialized business, such as tank creation or fish tank stocking. And let’s not forget, you will be doing something you enjoy!
The flip side is getting your name out there and marketing your specialty. New businesses often take time to get off the ground and end up economically sustainable, so you may need to put some initial costs into becoming locally known.
You may find that you need to hire help if your jobs become too large, or if you become too busy to handle it all on your own. You also will want to have a plan for emergencies. For example, if you are known for maintenance, you may occasionally need to deal with species care and unexpected issues like leaks.
Steps to Get Started
When you start thinking about moving forward with this idea, it’s time to plan. Create a budget and get some quotes for what it will take to get the initial necessities. Also consider exactly what your services will be and what it will cost for you to offer them, so that you know what to charge to make a profit. Be sure to consider your target audience as well and brainstorm how to get your business name to those potential clients.
Budgeting
Money is always an important consideration to have control of. To run a viable business, you need to think about how money is spent and earned through this whole process. That includes insurance and taxes.
Initial Costs
Make a list of what is essential to start the business, including marketing and office supplies. Include at least three months of supplies to keep on hand to ensure you have things you need in stock and to avoid issues with availability and shipping.
Ongoing Costs
Once your business is up and running, you need to keep track of ongoing costs. You will have a better idea of week-to-week overhead costs once your client base establishes itself.
Service Costs
Keep track of your costs so you know what to charge for your services in order to make a profit. This includes what your work is worth to you on an hourly rate. Be sure to be very detailed with what parts are worth and the time it takes to clean or replace them. For example, what does it take to set up a canister filter and what does that part cost?
Services Offered
Be very clear about what services you offer when you start, and don’t branch out into anything bigger that requires a larger investment until you are turning the profit you need to invest back into your business. That means you need to list what services are offered in advance, and make sure you are prepared for the type of questions your clients may have so you can provide the best service possible.
Set Up Legal Licensing and a Tax Number
Be sure to check into local licensing that may be required for home businesses, as well as insurance that you may need. Also, file your business to apply for a tax number to make your filing easier at the end of the tax year.
Open a Business Bank Account and Credit Card
Maintain a separate business bank account and credit card to keep all of your company’s expenses separate from your personal accounts. This makes them easier to keep track of.
