Some pet shops sell companion animals including dogs and cats, reptiles, amphibians, rodents and fish.
Independently-owned pet shops are in high demand because they often provide specialized knowledge, top quality products and a better user experience in comparison to big-box retailers. Starting a pet shop is not unlike starting any other business, though there are certain considerations that you must make when dealing with animals and animal products.
Instructions
1. Create a business plan before anything else. This is going to be your guide for the establishment of your pet shop business, encompassing every aspect of starting, running and growing your business including your marketing plan, your capital goals and what types of products you will be offering. Your business plan will not only be your guide, but also a useful tool in obtaining funding or finding the right location for your shop.
2. Choose how you will operate your business. You can run a brick-and-mortar pet shop in your local area, or you can operate your pet shop online depending on what types of products you intend on selling. If you want to sell live animals, you must run a brick-and-mortar component of your pet shop brand, where as a pet supplies shop can run either online or off.
3. Put together a budget based on the building costs, equipment costs, costs to operate your business and the initial costs for your inventory. Get all of these numbers down on paper so that you can plan accordingly, especially if you need to seek capital funding from outside sources like banks or other lenders. Keep a close eye on the costs of your various inventory, including live animals, pet supplies and other related costs.
4. Secure the financing that you need to run your pet shop. Make sure that you keep track of everything that you purchase along the way for tax purposes and proper business accounting along the way.
5. Set up your brick-and-mortar pet shop or put your pet shop website together depending on which business model you decide to pursue. Another business model is a combination of both, a brick-and-mortar pet shop that also sells inventory over the internet for a greater market reach.
6. Hire help if you need it. Wearing too many hats can stretch you thin and cause problems in your company. Hire sales associates, a manager, an accountant or all three if you need the assistance. You should try to hire individuals that have pet shop experience, or experience working with animals and animal products for the best results. Make sure that you apply for an Employer Identification Number (EIN) if you hire people so that you can file payroll taxes accordingly.
7. Open your pet shop as soon as you are ready. Do not be afraid to take things slow at first while you grow accustomed to running your new business. Do not be discouraged if business is slow at first, as diligence and hard work will grow your business over time as long as you are patient and persistent. Try running a special, like free pet food when you buy a new pet, to bring more customers in during the first days of your operation.
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