R.I.P Oceanic Corals

[gobytron]

Remember when OA was going out of business and they wanted 400k for their operation?

35k seems like a steal.

I just wonder what chances someone else might have if two smart guys like Paul and Albert couldn't make it work.

I hope they are both healthy and that this decision to close/sell doesn't is solely a business decision.

Hopefully someone who can commit full time scoops it up and keeps it going.

[Reef Pilot]

Originally Posted by gobytron

I just wonder what chances someone else might have if two smart guys like Paul and Albert couldn't make it work.

Need more than just domain knowledge/expertise to succeed at small business. In this case, I think location and traffic was working against them. OA had the same problem.

And as Colby has mentioned, at best, it is still a very tough business. From just a business perspective, lots easier/better ways to make money. Either you need volume (like J&L) or you better have the corner on some niche where you can make some margin. King Ed has it made, too, with not just their location, but also selling all the other pet stuff (incl freshwater), and able to spread the SW expense and overhead.

[Gooly001]

Hi Everyone,

It's been while since I've posted on here and it is moving to see so many people giving us accolades for the work that we've put in over the years.

It is time for me to move on. My wife and I have other business pursuits that doesn't require us to trade time for money. I have decided to sell the business due to my core value that my wife and 2 young children come first over anything else. I have put in way too many hours in the past and regret all the time I've lost with them

So, having said that the store is profitable. It generates enough income to live on thanks to all our loyal and regular clients.

Many of you have expressed why we were closed so often. Because the store is owner operated and we did try hiring students, we felt that our customers were wanting our attention and not a student who's still learning the hobby and wasn't qualified to offer advice to customers who had thousands upon thousands of dollars invested in their tanks. So, most times there was only one of us present at the store and that person would need to leave to do tank consults or maintenance for clients or pick up shipments from the airport. I will admit there were times we took lunch breaks and got called away and weren't able to get back to the store as promised on the signage.

This was the biggest hinderance and a large reason why we weren't able to grow the business much more.

In conclusion, there are a few more reasons why the store ended up in this situation, but those reasons were personal and not business releated. It is my hope that someone qualified would take over the store and help serve all those amazing clients that we have built along those years. It is a huge hole that will need to be filled but it is not one that I am choosing to continue on that path.

Thank you Canreef for all your years of support. The store is for sale and if no one approaches to take over the business, all equipment will be liquidated next week.

One last favour I would ask of you all, would be to help rehome all the remaining livestock that's at the store. All livestock inventory is 50% off.

Thanks again and best wishes to all of you.

Cheers,

Paul

[The Guy]

Thanks Paul for clearing up all the speculation and wondering that has surfaced here on Canreef.
Best of luck to you and the staff , and oh Ya " THANKYOU" for your past services.

[Reef Pilot]

My thanks also Paul for the support and advice you've given me in the past. You will be missed for sure, with your store, and hope the sale goes well. All the best going forward. And hope that you can continue the hobby at least with your own home tank.

[Animal-Chin]

Paul you and Albert are aweome and your store was my favorite by far. I too hope someone takes it over as it was my #1 go to for coral over the last couple of years.

If I didn't have the exact same family values I would scrape together the money and buy your place in a heartbeat, its always been a dream of mine but with a couple of kids, mortgage, ect I can't take the risk of leaving what I'm doing now. I sure would love to though...lol

All the best to you and your family!

[gobytron]

Originally Posted by Gooly001

Hi Everyone,

It's been while since I've posted on here and it is moving to see so many people giving us accolades for the work that we've put in over the years.

It is time for me to move on. My wife and I have other business pursuits that doesn't require us to trade time for money. I have decided to sell the business due to my core value that my wife and 2 young children come first over anything else. I have put in way too many hours in the past and regret all the time I've lost with them

So, having said that the store is profitable. It generates enough income to live on thanks to all our loyal and regular clients.

Many of you have expressed why we were closed so often. Because the store is owner operated and we did try hiring students, we felt that our customers were wanting our attention and not a student who's still learning the hobby and wasn't qualified to offer advice to customers who had thousands upon thousands of dollars invested in their tanks. So, most times there was only one of us present at the store and that person would need to leave to do tank consults or maintenance for clients or pick up shipments from the airport. I will admit there were times we took lunch breaks and got called away and weren't able to get back to the store as promised on the signage.

This was the biggest hinderance and a large reason why we weren't able to grow the business much more.

In conclusion, there are a few more reasons why the store ended up in this situation, but those reasons were personal and not business releated. It is my hope that someone qualified would take over the store and help serve all those amazing clients that we have built along those years. It is a huge hole that will need to be filled but it is not one that I am choosing to continue on that path.

Thank you Canreef for all your years of support. The store is for sale and if no one approaches to take over the business, all equipment will be liquidated next week.

One last favour I would ask of you all, would be to help rehome all the remaining livestock that's at the store. All livestock inventory is 50% off.

Thanks again and best wishes to all of you.

Cheers,

Paul

Well that all makes a whole heck of a lot more sense than some of the insinuations here...

Good on you guys for coming to terms with a tough decision and doing the best thing for you and yours.

[chef]

Good luck going forward Paul , a wealth of knowledge and a heck of a nice guy. When all is said and done, I'm sure you'll b happy with the decision!!! Thanks for all you've done and starting my addiction!!!

[H2o2]

Just would like to add all the best Paul on what ever path u turn down