Are you a pet lover? Pet store business is perfect for pet lovers. People who have knowledge and experience of retail merchandising. A one stop pet store with allied services is a profitable and self-rewarding business. You have two options here. You can initiate of your own store. Otherwise, you can start the business buying a franchisee of a reputed brand. In your own business the entire retail management, sourcing, and marketing are your responsibility. You will enjoy the total net profit. In a franchise setup, the parent company will take responsibility for operational and marketing aspects in a revenue sharing model. You can start this business with small startup capital.
Pet Store Market Potential
The global pet industry is booming. The major reasons are the increasing pet ownership and as well as increasing the spending per pet. People now increasingly perceive their pets as part of the family. They are willing to spend even during tough economic times. The growth of the industry can be attributed to a number of factors, including increasing awareness of the benefits of pet ownership and increasing per capita disposable income. The study found that having a constant, affectionate companion helps reduce stress and lower blood pressure. The simple act of a daily walk provides fitness for us as well as our pet. It is even hypothesized that the greater psychological balance brought by the companionship of a loving animal lowers risk of heart disease. Pet owners purchase holiday presents, designer outfits, clothes, toys, food, and specialty shampoos for their pets. This increased personification of pets has resulted in a massive increase in the number of premium products available for pet care.
Starting a pet store business plan
Crafting a detailed business plan is the must in starting this business. Decide first on how much product you will be going to start. According to you will need to find out retail location. Space must accommodate a store front and back storage area. Determine your pet store business objective. Identify your target niche audience and how you will be going to promote your shop. Decide what are the allied services you will be providing. Calculate how much startup capital the business demands. These all will help you starting the business with confidence. You must furnish your business plan in front of investors if you are seeking finance.
Pet Store Business License
Every type of retail business demands specific licensing and tax regime from the concerned department. Check with your local business licensing office for a list of business license and permission requirements. Every state has a list of animals that are restricted from sale. Many states also have a list of animals that can be sold, but must be registered with the authority. Make sure, you are starting the business with all proper licensing and compliance fulfillment.
Pet Store Establishment
Selecting a right location is the most crucial decision in pet store business. Ensure that your store has enough parking space and broad storefront.
Ask an interior designer to create a floor plan. This will help you to get a well organized retail setup. Secure space for product display, billing counter and storage.
Sourcing the material is one of the key aspects of making the net profit. Providing the quality product at a reasonable price is the key focus area of a successful pet store retail business. Some of the popular items are food, treats, toys, collars, leashes, cat litter, cages, soap, shampoo, powder, and aquariums. You can also provide engraving services for pet tags. This provides the owner’s contact information in case the pet gets lost.
Procure the resources and tools carefully. In retail venture floor staffs play the major role in conversion. An individual having experience in pet supplies business is the perfect for pet store retail operation. You must have a POS (point of sale) software. It will help you in managing data and inventory of the store.
“For Further Reading”
Promote Your Pet Store Business
Promote your pet store offline as well as online too. Making the pet owners aware of your store is the most important part. Create your stationery items such as business cards, brochures, letterhead carefully. Business cards play an important role in brand promotion. With some free online resources, you can make your own logo and business cards. To know details Click Here.
Publish some advertisement in pet magazines. Give advertisement in local dog shows or pet contests. You can also host an event. Think about some promotional utility items like shopping bag etc. Partnering with complementary and non-competing other businesses is a great way to network and develop cross-promotions. It benefits both of you. Promote complementary products and services along with the primary products. You must create a business website with a blog. Promote your business in the social media community. Facebook provides a great platform for you to connect with many target markets. It provides a great platform to connect with families, young people and even seniors. You can also sell the products from online marketplaces like amazon and eBay. You may also consider having your own online pet store.