If you have read some of my previous articles, you know that I have shared some of my thoughts about owning a tropical fish store. The landscape has changed dramatically in this industry over the last ten years. It is progressively more difficult for the small business owner to make it in this kind of business. I would like to share with you an idea that I have been kicking around for a little while.

I'm going to define "serious hobbyists" as those that have more than one aquarium, have an interest in breeding and raising different varieties of fish, and would probably belong to an aquarium organization (such as the Minnesota Aquarium Society) if they had the opportunity. Serious hobbyists remind me of farmers and ranchers. Like a farmer or rancher (they are not the same thing, if you too had grown up in Wyoming you would know this), the serious hobbyist has chores to do, meaning livestock and crops to tend to.

Serious aquarium hobbyists might be wise to follow the lead of their farming brethren. For over 150 years, co-operatives have been a way of life, a way of doing business, and quite possibly a way of survival for many of these people.

Before I review some of the important features of a co-op, let me address what is probably the first thing that comes to mind for the more capitalistic readers. Are you asking yourself, "Why would I want to start a not-for-profit business?" Rest easy, donít fret, cool your jets. Some not-for-profits (NFP henceforth) make a ton of money. 

What would your time and efforts be worth to such an organization if you were running it? $30,000 or $40,000 or $50,000 a year? What if you could do it on part-time basis? Is $10,000 or $20,000 a year enough? Thatís a salary expense for the organization, not a "profit" of the organization. In fact, lots of individuals profit nicely from their jobs at NFP organizations. Now Iím not saying that you should look at a co-op as a way of getting rich, but you donít have to go into the poor house to start one either. 

Next, I will outline the basic tenets of running a co-op for fish hobbyists. These are similar to the "principles" that have been developed by the International Cooperative Alliance (ICA). I have modified them slightly to conform better to the specific type of co-op that I am interested in.