Recovering the cost of keeping your reef

[treesprite]

***I'm counting trades as sales since this is about recovering expenses not making profits.

 

 

What are other people getting back yearly from coral sales to compensate for expenses?

 

I have a goal in mind for myself, just wondering if it's within reason. Right now I'm still only about 2 - 3 %.

Edited March 7, 2012 by treesprite

[Coral Hind]

We are lucky as reefers because most hobbies don't even offer a way to recover expenses. I think as the tank matures over time the percentage of cost recovery becomes much greater because the corals' grow rates pick up.

[hlem]

its a hobby... I expect no return... if i sell something, its either cause I am bored of it and dont expect what i pay for it or even half in return, hence I just auction it off. Or if I do want to sell something for a profit, its because I want to get more corals, not to gain anything back

[trockafella]

its a hobby... I expect no return... if i sell something, its either cause I am bored of it and dont expect what i pay for it or even half in return, hence I just auction it off. Or if I do want to sell something for a profit, its because I want to get more corals, not to gain anything back

 

 

+1.. Well said.

[Ryan S]

I look forward to the day when I can have a dedicated frag tank that helps cover annual costs such as salt, food, filters, carbon, gfo, etc. That will be very nice!

[MBVette]

When I start cutting some of my corals back I will just give them away; Im not in this to make a profit and the $10-20 bucks I get once in a blue moon is just not worth it. I would rather just share what I have; as when I bought the coral I never expected to make any money on it.

[Chad]

its a hobby... I expect no return... if i sell something, its either cause I am bored of it and dont expect what i pay for it or even half in return, hence I just auction it off. Or if I do want to sell something for a profit, its because I want to get more corals, not to gain anything back

 

Agree.

[Coral Hind]

if I do want to sell something for a profit, its because I want to get more corals, not to gain anything back

 

That's what she is talking about. She doesn't plan to get rich, just help to cover some of the costs. You taking the "profit" from selling something to get more corals is exactly what she is talking about.

[hlem]

That's what she is talking about. She doesn't plan to get rich, just help to cover some of the costs. You taking the "profit" from selling something to get more corals is exactly what she is talking about.

Similar concepts, but very very different ideas.

 

Her thought (correct me if I'm wrong): the goal is to have the tank grow well enough to sell frags to cover cost, more salt, more corals, etc. essentially, the hope is that the tank will maintain itself or at least cover some of the costs.

 

My thought: it's a hobby, I already have an idea what it will cost to have the tank and have an allotted budget set aside to maintain it without needing to sell anything. Along with a monthly coral budget for new corals.. When I says "profit for more corals," it is for that one piece that pushes my allowed allowance.

 

Both ideas is to have money for the tank. but my tank is already budgeted from my 9-5 job, basically I don't plan on recovering any of the money I put into my hobby. If I get any, great, if not I won't be disappointed.

Edited March 7, 2012 by hlem

[DaveS]

Both ideas is to have money for the tank. but my tank is already budgeted from my 9-5 job, basically I don't plan on recovering any of the money I put into my hobby. If I get any, great, if not I won't be disappointed.

 

Hehe are you are able to stay within your budget? If so, I guess it is just a hobby for you. For other's it's an addiction and selling frags is what enables us to get that extravagant piece we just gotta have but isn't within the budget.

 

For me, selling frags allows me to spend more money on the hobby. It's not that I can't financially afford to spend more, I just can't justify it to myself mentally (much less to the wife). So the extra frag money is how I pay for that $50-$100+ exotic frag. I also make a point of taking some of the frag money and giving to the wife so she can splurge a little too. It's not much but having her see that there is some money coming in helps with perception. At the end of the day, there is no "profit". All the money goes back into the hobby. I know some of you guys have seen this first hand after some club meetings- I usually just end up taking the money I got selling some frags and use it to buy stuff from the other guys selling frags....

 

Some may even say this process has down stream benefits. We have all seen a $200 frag become a $20 frag in a year. How did that happen? The cost goes down because the supply is greater but that isn't just from taking more out of the ocean. It is usually from reefers that sell frags. The more people who can sell frags and get the funds to splurge on exotic corals, the more those exotic corals can be grown. The guys who spend big money on exotic corals without selling frags to generate the funds typically won't be bothered to sell the frags after they get and grow out that exotic. Selling frags is part of the hobby and aquaculture movement. The money part is just part of facilitating the process.

[Reloadeddevil]

<br />its a hobby... I expect no return... if i sell something, its either cause I am bored of it and dont expect what i pay for it or even half in return, hence I just auction it off. Or if I do want to sell something for a profit, its because I want to get more corals, not to gain anything back <img src='http://www.wamas.org/forums/public/style_emoticons/<#EMO_DIR#>/smile.gif' class='bbc_emoticon' alt='' /><br />

<br /><br /><br />

+1.

[firecrackerbob]

I used to sell very heavily FOR PROFIT in my last club. I would say I came close to breaking even in the hobby, and IF I had really wanted to, probably could have scaled the operation up. I think building a major system that incorporates natural light really makes the difference between the hobbyist and the entrepreneur (frag-trepreneur?). it can be done if you are willing to deal with the headaches... primarily whining customers... I personally got really tired of it. numerous customers would complain that the frag I sold them (and clearly stated!) that had been grown under MH\VHO didnt look the same under their lighting, then proceed to flame me online and in meetings... after a while of firefighting it got old...

your results may vary though. I would personally suggest ( and what I would do if I ever tried the business again) is to only sell to people in person who come to pick up the frags from your tank... once is purchased its theirs. PERIOD.

 

there is nothing wrong with doing it for a profit. just dont quit your day job

[hlem]

Hehe are you are able to stay within your budget? If so, I guess it is just a hobby for you. For other's it's an addiction and selling frags is what enables us to get that extravagant piece we just gotta have but isn't within the budget.

 

For me, selling frags allows me to spend more money on the hobby. It's not that I can't financially afford to spend more, I just can't justify it to myself mentally (much less to the wife). So the extra frag money is how I pay for that $50-$100+ exotic frag. I also make a point of taking some of the frag money and giving to the wife so she can splurge a little too. It's not much but having her see that there is some money coming in helps with perception. At the end of the day, there is no "profit". All the money goes back into the hobby. I know some of you guys have seen this first hand after some club meetings- I usually just end up taking the money I got selling some frags and use it to buy stuff from the other guys selling frags....

 

Some may even say this process has down stream benefits. We have all seen a $200 frag become a $20 frag in a year. How did that happen? The cost goes down because the supply is greater but that isn't just from taking more out of the ocean. It is usually from reefers that sell frags. The more people who can sell frags and get the funds to splurge on exotic corals, the more those exotic corals can be grown. The guys who spend big money on exotic corals without selling frags to generate the funds typically won't be bothered to sell the frags after they get and grow out that exotic. Selling frags is part of the hobby and aquaculture movement. The money part is just part of facilitating the process.

 

hence, I sell some for that "extra" piece that wasnt "budgeted"... like I mentioned of the "profit"...

[ErikS]

Can't click any of the categories. While I have sold stuff it's never enough to offset much of anything, but then it's a hobby which I view as one directional - ala entertainment. If I couldn't afford it I'd find another hobby.

 

..............Some may even say this process has down stream benefits. We have all seen a $200 frag become a $20 frag in a year. How did that happen? The cost goes down because the supply is greater but that isn't just from taking more out of the ocean. It is usually from reefers that sell frags. The more people who can sell frags and get the funds to splurge on exotic corals, the more those exotic corals can be grown...........

 

Which is another area in which I'm "lucky" - the only use I have to those expensive corals is they give me a laugh. Every single one of "todays hot ticket" has become "yesterdays old news". Folks go batty over one thing, next year it's something else. Like every other fad once it's past the cost goes way down. Corals are the Beanie Babies of the hobby (man did I make a killing on those stupid things).

 

I used to sell very heavily FOR PROFIT in my last club. ........... it can be done if you are willing to deal with the headaches... primarily whining customers...

Been a couple who've tried that - always wanted to know if it was worth the headache

 

But hey, you want to spend time scouring Craigslist to make a nickel on equipment or deal with whining about frags knock yourself out - I'll pass.

Edited March 7, 2012 by ErikS

[Coral Hind]

It looks like four people have voted that they not only cover costs but are actually making a profit. Someone must be doing it right!!

[Ryan S]

It looks like four people have voted that they not only cover costs but are actually making a profit. Someone must be doing it right!!

 

bah. the poll is confusing!!!

[Chad]

It looks like four people have voted that they not only cover costs but are actually making a profit. Someone must be doing it right!!

 

 

LOL, I only see two in that category... hmmm...

 

 

[Hoyden]

I am not sure that making enough to cover your costs necessarily equals doing it "right". For me, keeping home aquariums is hobby, pure and simple. There is no drive to make any money from it. I do it simply because I enjoy looking at my tanks and the cool animals that live in them. Once you try to make your hobby into a business, in my experience, everything changes. As someone who has made a pretty decent living at things most people pursue as a hobby (dog training, scuba instruction), at least for me, making something profitable or even just pay for itself takes some of the fun out of it. YMMV.

[treesprite]

Maybe I should have clarified it as round-about trading. When I see stuff I want and there's no one to trade with fairly (which there extremely rarely is), I have to "trade" for cash then "trade" the cash for what I want. If more people were up to trading, well, that would be great for everyone.

 

For the record, I give away frags far more that I sell them. I like to chose those to whom I give things, so I do not often advertise to the general membership... if I advertise free stuff, I have to give it to anyone who asks even when I know there is someone else who would appreciate it more. If I think someone could benefit from a free frag and have one, I offer it privately, or offer free bonus frags. Sometimes I'll significantly lower a price on something that I do have for sale even after the person agrees to pay what I asked. Call it what you will.

 

We should do a real trade session. No selling for cash allowed. One of those things where you have to trade for something, and if you don't like it, you keep trading around until you get something you want or are at least willing to keep. There will probably be people who end up with things they don't even like - give them to someone who will and call it a freebie. You bring as many items as you want and take home the same number of items, unless you give items away.

[Ryan S]

We should do a real trade session. No selling for cash allowed. One of those things where you have to trade for something, and if you don't like it, you keep trading around until you get something you want or are at least willing to keep. There will probably be people who end up with things they don't even like - give them to someone who will and call it a freebie. You bring as many items as you want and take home the same number of items, unless you give items away.

 

Sounds like a great idea to me!

[hlem]

Maybe I should have clarified it as round-about trading. When I see stuff I want and there's no one to trade with fairly (which there extremely rarely is), I have to "trade" for cash then "trade" the cash for what I want. If more people were up to trading, well, that would be great for everyone.

 

For the record, I give away frags far more that I sell them. I like to chose those to whom I give things, so I do not often advertise to the general membership... if I advertise free stuff, I have to give it to anyone who asks even when I know there is someone else who would appreciate it more. If I think someone could benefit from a free frag and have one, I offer it privately, or offer free bonus frags. Sometimes I'll significantly lower a price on something that I do have for sale even after the person agrees to pay what I asked. Call it what you will.

 

We should do a real trade session. No selling for cash allowed. One of those things where you have to trade for something, and if you don't like it, you keep trading around until you get something you want or are at least willing to keep. There will probably be people who end up with things they don't even like - give them to someone who will and call it a freebie. You bring as many items as you want and take home the same number of items, unless you give items away.

 

 

Sounds like a great idea to me!

 

Isnt that what Frag Swaps are for? I've never been to one so I dont know...

Edited March 9, 2012 by hlem

[CaptainRon]

Isnt that what Frag Swaps are for? I've never been to one so I dont know...

 

 

Yeah... I went to one of those once that was hosted by another club - was kinda neat. All the frags went in a tank, then everyone basically drew numbers to determine the order that they'd select from the frag tank. The downside is of course that there's bound to be things there that no one wants.

[Ryan S]

Yeah... I went to one of those once that was hosted by another club - was kinda neat. All the frags went in a tank, then everyone basically drew numbers to determine the order that they'd select from the frag tank. The downside is of course that there's bound to be things there that no one wants.

 

Has WAMAS done this before? I think it would be fun.

[yauger]

Yeah... I went to one of those once that was hosted by another club - was kinda neat. All the frags went in a tank, then everyone basically drew numbers to determine the order that they'd select from the frag tank. The downside is of course that there's bound to be things there that no one wants.

 

maybe we should have someone monitor what goes into the "frag" tank and undesirable frags don't make their way in the pool...

or basically have a posted list of what is acceptable and not. bring a softie take home a softie and vice versa.