Pets offer many benefits to their owners, including affection, comfort, companionship, protection, and a way to meet others, just to name a few. The desire for a pet and the need for the supplies that accompany the animal are driving a strong market for pet stores. As you set out on the exciting adventure of opening a pet shop, use the following steps to establish a solid foundation.
Write a Business Plan
No matter what type of business you establish, writing a business plan is vital. It acts as a guide for all of the steps that follow and helps you stay focused on your end goals. Start with an overview including the name and physical address of the company, your intended goods or services, and your purpose, as well as a mission statement. The quality of this plan affects your ability to obtain financing.
The location of your storefront is a top priority. A location that is easily accessible will mean more customers and lower marketing costs. One good tip is to find a space near a dog park, veterinary office, or adoption center. Before finalizing your decision, look for neighborhoods with evidence of pets.
Obtain Financing and Licenses
With your business plan in hand, you’re ready to approach a bank or other business lender to get the funds you need to secure your location and begin operations. Be sure to factor commercial insurance costs in your estimated costs of operation.
You will need a business license, and some states require a pet shop license. As part of the approval process, plan for regular inspections. Check zoning regulations as you scout out locations. Thoroughly research the legal restrictions and requirements for owning and caring for pets in your state.
Include a Variety of Services
Some pet stores offer grooming and others connect customers with obedience trainers or veterinarians. If you have competitors, these services can attract attention to your store. Make sure you hire experienced professionals to represent your shop positively.
Lay Out Your Store and Visual Presence
A floor plan that encourages customers to move through the store at a leisurely pace often leads to more sales. The right quantity of products also encourages transactions; more product availability improves sales, but too much can lead to unhappy customers. Showcase popular items, make impulse buys easy to grab, and use a cross-merchandise tactic to promote increased purchases. Attractive displays that you refresh regularly are also great tools for encouraging customers to grab more items.
Set Up an Inventory System
Your system must handle a lot of details, including item names, descriptions, product IDs, supplier names, and sales prices. You’ll need the cost per item, quantity on-site, tax rates, reorder dates, and more. Modern shops use inventory management software, such as the comprehensive software available through etailpet. This software may also include online selling potential, marketing, and point-of-sale features. This software also simplifies online sales and record-keeping.
Look for applicants who have pets and who work well with animals. Depending on the size of your store and your business goals, look for a manager and sales associates. An inviting job posting may invite the attention of quality applicants. An accompanying job description includes daily tasks, required qualifications, and any special benefits you’re offering. Provide thorough training once you have employees and commit yourself to treating employees with respect and rewards for hard work.
Plan a Grand Opening Event
Use this event to kickstart your marketing efforts. Reach out to your family, friends, and pet owners in the area, as well as members of the media and social influencers. Offer coupons, samples, and photo opportunities to encourage attendance. Remember that marketing is an ongoing process. Your budget should include regular ads, events, and other tactics.
If you love animals and feel passionate about connecting pets with people who can love and cherish them, a pet shop may be an exciting and rewarding venture. Thoroughly research these steps and others to ensure a strong foundation for a lasting business.