How to Start a Pet Business

Tuesday, March 12, 2013

How to Start a Pet Business

A pet business is a great opportunity for an animal lover. There are so many types of businesses you can open, depending on your level of knowledge and interest. Whether you want to start a pet business that sells pet products or offers a pet service, consider the following steps to assist in your endeavor.

Decide on the type of pet business you would like to start
There are a number of services that you can offer pet owners, such as pet grooming, dog walking and pet sitting. You could also offer retail opportunity for pets, like a pet or pet food store. Determine which opportunity you would like to pursue.
Get more training so you can provide a better service to your clients
If you are a dog trainer, you can improve your techniques by taking intermediate or professional dog training classes. A dog groomer can attend an accredited school. Further education would be more pertinent if you were interested in being a veterinarian. This profession asks for more advanced formal education. Find out what is expected of you in the capacity that you hope to pursue.

Design a business plan that outlines your business goals

Include the methods that you will use in achieving your goals. Determine how you will finance your business and the estimated timeframe in which you hope to accomplish your individual objectives.

Get financed if you don't currently have the funds for your pet business start-up

Depending on the type of business you will be opening, you will need to purchase tools, equipment and administrative supplies. You may also need to lease a location if you will be running your business onsite.
Research the pricing of your competitors
You don't want to be too inexpensive, but at the same time, you don't want your prices to be too high. Find a price bracket that is both competitive and profitable.
Choose a location for your pet business
Opt for a high traffic area where your services will be more visible. Some businesses can be operated from your own home, such as a dog walker. A pet sitter would not need a specific location either, since you will be going to the pet owner's home to perform your responsibilities. An onsite location would need to be leased, so make sure you select a location that is within your budget.
Set aside a marketing budget for advertising your new pet business

Depending on your finances, you could consider advertising in your local paper. You could also post leaflets in pet stores and print up business brochures that you can hand out to your current clients. Consider an incentive for referrals, such as a discount for a pet's next visit or a coupon for a next purchase.

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Pet BusinessDecember 10, 2013 at 6:33 PM
How to Start a Pet Business, Pet Business, Pet Shop
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Easy Tips and Ideas to Start Business

Although anyone can start a business, many people fail because of a bad product or improper research. If you want to start your own business, you can improve your chances for success before you even begin. In order to make your business successful, start strong and make sure that your idea will hold out for the long haul.

Have a Good Product

Ensure that you plan to sell something useful. Although you may think that your product is important or special, that doesn't mean the general public will agree. Ask friends, family and strangers what they think of your product. If they don't seem that interested, ask them why. With their suggestions, you can either improve the product or scrap the idea completely. According to Brad Sugars of Entrepreneur magazine, most small businesses fail because they sold a product that didn't have an adequate market. This also applies to small businesses that provide a service. A lawn-care business might be useful for part of the year in a northern state, but it is in-demand year-round in the south. Consider whether people will actually want to use your service and get constructive advice from those not afraid to give their opinion.

Research Local Businesses

Research local companies before starting up your own business. This will not only give you an idea of the amount of competition you will have, but it will also help you price your product or service. If you're looking to start a wedding photography business, you may find during your research that the market is over-saturated in your area. If not over-saturated, you should contact each business and ask them for a price list. Alter your prices so you can stay competitive with the competition in town. Researching similar local businesses will also help you decide where to locate your business location. Try not to start up a store or office close to another business of your type. If your small business is located away from similar business types, this will cause locals to choose you over businesses that are farther away from where they live.

Get Professional Advice

You may know someone who has started their own successful business. Ask him for advice and listen to his stories of how he started his company. You may gain useful advice on the good and bad ways to start a business. Local entrepreneurs can also introduce you to local product providers or advertisers that you may not have met without their help. Accept any advice with open arms, especially if the advice is coming from someone successful in the area.

How to Calculate Business Start Up Costs

Starting a business in no easy endeavor. It takes a great deal of research, perseverance and hard work. While sweat equity will make your small business more successful, you will most likely need real capital to get the business started. Before you start raising capital and/or investing your own funds, the first thing you need to do is determine the total start-up costs.

Step 1

Determine your costs of sales. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. However, not all businesses sell products. In this case, the cost of sales is primarily the direct labor involved in making the sale. For example, to open a small shoe business entails purchasing enough inventory ($10,000) to stock the store.

Step 2

Determine professional fees. Planning your business structure, i.e., limited liability corporation or general partnership, means hiring an attorney. There may also be the need to pay an attorney for help with establishing trademarks, copyrights, and patents. In this scenario, that puts total professional fees at an estimated $20,000.

Step 3

Determine technology costs. Technology can greatly reduce the cost of labor for small business if used effectively. Most small businesses require computers, printers, cell phones, website development, Internet access, software applications, information security, data storage, and outsourced information technology (IT) consulting. If the cost of technology is $10,000 to start, add an additional $5,000 a year for maintenance (hint: maintenance is not included in start-up costs).

Step 4

Determine administrative costs. This varies with business types and may include items such as business insurance, office supplies, product packaging, parking, rent, express shipping, desks, chairs, fax machines, phones, or anything else necessary to operate the business daily. A good estimate for start-up administrative costs would be $5,000 for the first six months.

Step 5

Determine initial sales and marketing costs. Now that you have your product, you need to let folks know about it. Sales and marketing costs generally include marketing materials for presentations, printing stationery, business cards, advertising, trade show events, and public relations. These initial sales and marketing costs can add up to $3,000.

Step 6

Determine the wages and benefits needed to secure a staff. This includes employee salaries, benefits, workers compensation, and payroll taxes. Let's put the cost of wages and benefits estimated at $20,000 for the first three months of business.

Step 7

Add all costs associated with starting the business for a total. Be sure to only include business start-up costs that will be incurred in the first three to six months of operations. For this example, the calculation is: $10,000 + $20,000 + $10,000 + $5,000 + $3,000 + $20,000 = $68,000.

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Tuesday, March 12, 2013

How to Start a Pet Business

Decide on the type of pet business you would like to start

Get more training so you can provide a better service to your clients

Design a business plan that outlines your business goals

Include the methods that you will use in achieving your goals. Determine how you will finance your business and the estimated timeframe in which you hope to accomplish your individual objectives.

Get financed if you don't currently have the funds for your pet business start-up

Research the pricing of your competitors

Choose a location for your pet business

Set aside a marketing budget for advertising your new pet business

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