How to Open a Pet Supply Business
If you are thinking about starting a pet supply business, but don't know where to begin, all you need is some basic knowledge of the business start-up process. You will also need a proactive plan, proper location, and a systematic marketing approach that will allow you attract a regular customer base. The following article will assist you in making some key decisions before you start so that your supply store may open with as little hitches as possible.
Instructions
- 1 Get to know your area. Contact animal shelters and other pet stores in the area, and examine their services and products. Doing so will help you get to know which pets are common to your region. Note which supplies are hot sellers and what most pet stores carry. Also note what area stores do not carry. This may represent your opportunity to fill an important need not being met by your competition.
2 Research your competitors. Flip through your telephone book for a list of pet supply stores. If your directory is outdated, contact your Chamber of Commerce or County Clerk's office for an updated list. Note the number of chains, franchises and local businesses. This will determine whether a share of the traditional retail market exists.
3 Decide on product lines. Once you have an idea of which pet supplies your market needs, choose your product lines. Start with general items like pet food, toys and treats. This will allow your customers to come to you for things they need on a regular basis. Specialty products such as photo albums, bedding, pet-related art, and unique waste-removal products are great products that can differentiate you from other stores in town.
4 Find a location. A pet supply business will generally be most successful in areas of high traffic next to other retail stores. Choose a location with easy access, preferably with access off of a parking lot. You may also do well in a less bustling part of town, depending on your niche. Your space should have room for ample shelving, sizable store frontage and a visible sign. A commercial Realtor will help you find a suitable location based on your available capital and objectives outlined in your business plan.
5 Get a business license. Apply for a business license through your state and local government. The appropriate applications can be obtained from your city's Treasurer's Office, Secretary of State or Department of Revenue.
6 Stock your store. Consider hiring a retail merchandising firm or marketing company (see Resources). These professionals can help you properly arrange your store so it's visibly pleasing and functional for your customers. Make sure your store is clean, properly lighted and outfitted with proper color schemes. Neutral and warm colors such as gray, beige, light brown and off-white are usually suitable for most retail settings. If you have questions, contact an interior decorator.
7 Invite members of the local business community and the general public to celebrate the opening of your store. Send out invitations and run ads 1 month before your event. Chamber of Commerce officials are often helpful planning grand opening celebrations for new businesses.
8 Consider buying a franchise. It's no secret large chains and franchise pet supply stores have stronger buying power than small, local businesses. This almost always equates to lower retailer prices, which sometimes negatively affects the local businesses from competing. Franchises, however, play an important role in many areas in which they operate. If you have trouble competing against the larger supply stores, consider a franchise with a proven marketing system and solid wholesale pricing structures that allow you to pass savings to customers and still specialize (see Resources).
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