as for fry... well... you will have many of them, and not many options for getting rid of them.
if you have larger fish, it makes a good food source...
...you can call a few of your local lfs's to see if they'll take them... you can rarely ever sell convict fry. i couldn't even get the stores around here to TAKE them from me... so, good luck with that.
other possibilities include culling the fry... which means disposing of them in some humane fashion. i, personally, couldn't do this very effectively to an entire batch of fry every couple of months.
i decided to get rid of my female and opt for a solitary male only in my 29. dealing with the fry was going to be waaay too much of a hassle.
maybe you can find a friend near you that wants to fry for food? there are always 'free convict fry' adds up at my lfs. they really get to be a handful since no one wants them.
I had a breeding pair in a 10 gallon tank. It was my first tank and first ever cichlids. They would have a batch of babies every few months. After the fry got to a certain size they were own their own and basically got eaten by the Mom and Dad.