How to Start a Home-Based Pet Supply Business
Instructions
- 1 Determine your selling platform. Do you want to sell online, retail or both? Selling online will reduce the amount of overhead you have; however, you will need to develop a website and set up a merchant account in order to receive payments. Website development can be somewhat complex, and although there are many do-it-yourself solutions out there, the success or failure of your online business can be directly attributed to the look, feel and functionality of your website.
2 Determine if you want to sell your own line or resell someone else's. Selling someone else's pet supplies is probably the easiest way to become established in the marketplace. While you do not have to obtain permission to resell any particular line, it adds credibility to your business if you can claim that you are an authorized reseller. To obtain permission to resell (as well as receive wholesaler rates) contact the manufacturer of the item(s) you wish to resell. Getting that permission is a bit harder. Many manufacturers require businesses to have retail, as well as an online presence. Many require you to purchase large inventories of stock before allowing you to resell. Plus, your profit will be hampered based on whether the manufacturer limits your selling price or raises the cost of obtaining inventory.
3 Apply for a business license and insurance. If you decide to sell retail, then visit your municipality's business office to apply for a business license. Apply for a sales and use tax certificate. It will be your responsibility to collect and report sales taxes each month. The good news is that you will be able to purchase your inventory without having to pay sales tax on it, thus reducing your overhead costs. While you aren't currently required to collect and report sales taxes on online sales in most jurisdictions, you still need to obtain a business license.
4 Get customers. The most important aspect of any successful business is getting customers to buy things. Market your business in order to be successful. If you are an online business, then join and actively participate in related forums. Discreetly draw attention to your website, or use social media outlets to promote your business.
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Start a Home-Based Pet Supply Business
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