Americans love their pets. More than 83 million dogs and more than 60 million cats are beloved members of families. Add in birds, fish, hamsters, ferrets, and the numerous other animals people share their lives with and it’s easy to see how many creatures cohabitate with humans.
Pets require care from their people. They all need food and water and some need cages or terrariums. Collars, leashes, toys, and grooming supplies. The list goes on.
Pet owners need a place to buy all of these items as well as pets themselves. That’s why there are pet shops and a well-run store can be very profitable. For people who love animals, owning a pet shop can bring in as much joy as profit. How does one get started in the pet business?
Business Plan and Start-up Capital
Before reaching the point of setting up a store and acquiring the tools you need, the eager future owner must put together a business plan. A successful shop requires detailed planning. A good business plan will contain overviews of the pet market where the store will be, estimated costs, a marketing plan, and other information that potential investors or partners will want to see before putting up any money.
It takes money to start a business. A building must be purchased or leased, and inventory and supplies acquired. Start-up capital is essential to any business. Finding investors who are interested and convincing them the shop will be profitable takes a dynamic presentation backed by solid data. A partner, either silent or active can also help provide funding, as can a business loan.
As for equipment, you can boost efficiency with all-in-one tools that perform several tasks at once. For example, a pet retailer can conserve resources and valuable counter space with a fully integrated pet shop POS software, one that can handle not only payment processing, but inventory management, various transactions, and customer loyalty and reward programs all in one convenient space.
Find a Location
A good location is vital to the success of any business. A pet shop should lie near vehicle and foot traffic to make it easily visible to potential customers. Locating a shop near other places that pet owners patronize such as veterinarians’ offices, adoption centers, and dog parks is an excellent strategy as people will frequently stop in to check out the store.
Design of the Shop
How a shop is set up has a major impact on how successful it is. Items for sale should be placed in categories and everything should be easily visible to people who are browsing. Customers like a smooth shopping experience where they have no trouble finding what they are looking for.
It’s also a good idea to allow customers to bring their pets into the store. Often, a dog will sniff around and find a toy that it likes, and the owner can help but make the purchase. It also gives employees a chance to interact with pets as well as customers. People tend to find that endearing and it can prompt them to keep coming back.
Get Inventory from Vendors
A store has to have something to sell and vendors are where it comes from. There are many suppliers and it’s worth taking the time to vet some of them. Talking to other pet shop owners and getting recommendations is a good place to start as is conducting internet searches for wholesalers. Attending trade shows allows a pet shop owner to ask questions of vendors and get a feel for how they do business.
Once vendors have been secured, inventory is acquired and must be managed. This is where POS software enters the picture. It records the cash coming in and inventory going out and can alert the owner as to when more of a particular item must be ordered. A good POS system is a worthwhile investment.
Hiring
Even a small shop will need a few employees. A manager, sales associates, and stock people are all necessary. Place ads in local papers or online to bring in applicants. Careful interviews determine who has the skills, experience, and enthusiasm. It’s also important to determine how well an employee will fit in with the others in the business as well as deal with customers.
Marketing
A solid marketing plan is important to let customers know that the store is in business and where it is. Local television and newspaper ads are still viable. A solid internet presence including a website and social media pages will also help drive business.
For people who love animals, owning a pet shop can be a dream come true. It can be a profitable business provided the necessary steps are taken to start it up and set it up properly.
