Most pet owners spend a lot of money on their pets, lavishing them with gifts and treating them almost like human beings. The consequence is an opportunity that any sharp individual can exploit to their advantage.
Plan and Steps to Start a Pet food Business
- The range of foods and pets out there is large, and the requirement and expectations of different pet owners varies.
- Know whether stock food for all types of pets (from dogs to hamsters) is profitable for the business and choose one niche if its not possible to make good margins with all types of pet foods.
- There are two options on the kind of operation to have, one is no premises with an online presence, and products are shipped to the customer, and the other is to have a premises and have customers get their supplies from the shop.
- Find out the variety and estimate the number of pets and pet owners in the general reach of the potential premises.
- Veterinary hospitals can be visited to help in establishing the number of pets. Find out the local authorities rules and regulations governing pets, and any regulations governing their treatment.
- Find out if there is a pet owner’s association in the locality, or any institution that may cater to pets and their owners, to find out what presently the pets get and what they miss in the market.
- The location of the store should be chosen with caution as it will affect the customer numbers greatly.
- The location should be in a high visibility area, to increase the number of impulse shoppers and maximize advertisement through the store front.
- The competitions’ location should be considered, and one should ensure the store is at least 5 miles from the nearest competitor, in populated areas and more in sparsely populated areas.
- The products that go on sale have to be obtained from suppliers. One can make good relationships with these suppliers in the local area.
- The suppliers chosen should have all the different types of products one’s business needs to stock, this will make it easy to order all the goods from one supplier, and enjoy the saving from consolidated deliveries and discounts.
- One can opt to have the manufacturer deliver directly to the shop especially for the fastest moving brand or the most expensive items.
- The store will need some workers to look after it and run it.
- The staff hired should have some basic knowledge in pet nutrition, polite and courteous, to ensure repeat sales.
- The business will need to have a license from the local authorities to run the store, the options include registering it as a sole proprietorship, or a limited liability company.
- The business will also need a tax identification number for the purposes of payment of taxes, assigned by the relevant revenue collection agency.
- The business can reach the potential clients by advertising in the classifieds of a local paper, or in posters.
- The business can also invest in a website, to increase exposure in todays tech-savvy environment.