Wouldn't it be nice if LFS offers layaway?

[biecacka]

I was joking guys about the credit card and points/miles. Was a joke. Haha.
but seriously some people don’t have the credit or the limit to get some items. I like the savings account just for reef items idea Though. It’s like a self operated layaway. However I do think for some people “owing “ the LFS will make them more likely to continue to pay an stick to the plan. Like “accountability” or something.
who knows??

corey

 

[Potatohead]

I never quite understood the whole layaway thing. Why would you want to let the store hold your money and make no interest in that time, just save it yourself and buy when you have enough? If you don't have enough willpower to do that, chances are you will be a financial wreck in the long term anyhow, and should probably get that figured out.

 

[mike550]

Just to be clear I really think that you can enjoy this hobby without going into debt if you are careful with planning and managing your own expectations.

For example, a 40G vs 200G has a completely different cost structure to it. But either one could be very rewarding. Same for equipment and gadgets. There’s no need to get caught up in the latest tech. I’m new to reefinf and still do manual tests and run a very simple system (120G, heater, lights, powerhead, skimmer, and recently added Tunze ATO). An Apex is not a “must have” that’s a “nice to have”. Same can be said about a lot of things.

Not to sound heavy handed but financing a hobby or lifestyle item just stresses me out.

 

[crusso1993]

@Katrina71 @Brew12 @crusso1993 thoughts?

I think a layaway program could potentially be a very good idea. I'll text you.

 

[ChuckD76]

This was what I was trying to say. So who is your LFS? I would like to talk to them if possible

Blue Fish Aquariums in Lyndhurst OH

 

[sde1500]

I would think that the more people involved in the hobby spending money would be good for the entire hobby. LFS and hobbiest alike. So hypothetically a guy can afford the entire system except will say protein skimmer so he lays that away after that there's a guy who now needs salt fish food on a recurring basis this is something that creates Revenue in the long run not just a short-term, again I'm not suggesting that they credit the entire system. Adding more hobbiest brings more overall economic growth.

of course this is slightly off topic for why LFS does/doesn't offer layaway, but I'm all for slowly and carefully putting a system together, utilizing sales and discounts. I also don't think this hobby is struggling for consumers. I am wary of anyone that is funding their fun through debt. Layaway is a no interest deposit with a retailer, and typically comes with added fees. And considering true layaway reserves the physical item, it is inventory that a small store now can't move, but has to hold taking up space. It is why we see large box stores offering it more often than small shops.

If a person can't just earmark some cash on their own for a purchase for their hobby, I don't think they are fiscally responsible enough for the hobby. Sure that person bought all but a protein skimmer, but they needed the store to force them to save for that skimmer? And what percentage of people would be using layway for the final piece of a full system, as opposed to a random purchase they want to make, but can't yet afford. And what next? Said person can now slowly stock their tank with fish and corals. Maybe they will be fine. But the average person, one that would likely use layaway, has very little in savings. Barely enough to cover an emergency. So what happens when a critical life support piece of their tank, the lights, pumps, the tank itself, fails? Layaway doesn't work then. Every thing dies or they end up going into debt, likely high interest CC debt, to purchase it. Hence my stance, this hobby is a luxury that if you can't afford to put together a system without some manner of borrowing time/money, maybe its not for you.

 

[Gil03]

If i'm not mistaken some online retailers offer 90 day same as cash or something similar. I wouldn't expect a struggling LFS to hold onto big ticket items for someone that may buy over a now buyer.

 

[biecacka]

You can also shop the classifieds and find good deals on many pieces of equipment.
when I ordered my Bubble King skimmer, it wasn’t in stock at the moment and the retailer let me put 500$ down to hold it until it was in stock. They then actually just drop shipped it to me. But my MP40’s and orpheks were all bought used from someone in the hobby.
They’re plenty of ways to fund this hobby, I’m not suggesting layaway or credit card, I’m just saying I could see how some could benefit from it. Doesn’t mean it’s for everyone.

corey

 

[gotmesalty77]

I picked up 3 three month old xr15s, 2 mp40s, rms mounts and 3 hanna checkers. Full line of red sea Chem big bottles for $1040. There was other stuff too I just can't remember. Nothing was made later than April of last year. I got a brand new in box vectra m2 $225 and my bubble magus D8 for $100 used only for a frag swap. I personally refuse to pay retail. I can afford the hobby no problem and have been since 2012.
I personally try and see the best in folks and think the cost of equipment for many is unnecessarily prohibitive. I'm pretty well versed in economics and in the long term it would benifit all of us if companies made more sales. Larger market would increase competition and drive cost down trying to attract those newcomers. Now I'm not saying layaway would create this but it could spur economic growth. I just see it as a net positive.

 

[Devisissy]

As a small business, because it's a pain in the butt. I can't keep track of all that. However, I have thought of using affirm.

 

[DivingTheWorld]

Have you considered a Classic Apex? I see lots of people upgrading to the new model and selling their old ones on Craigslist or the forums. I still run a Classic and don't plan to upgrade unless they drag me screaming. lol

 

[Katrina71]

I'd be a fan of auto drafted monthly payments. Zero apr.