You have probably heard most of the adages that emphasize the importance of planning. Like “if you fail to plan, you plan to fail” or something about the journey being cut in half where you plan the route successfully or a whole bunch of other quotes you may be familiar with. Well, the thing is they are all correct. They might be a bit cliché and somewhat corny but they all point to the fact that planning is an essential part of life that shouldn’t be ignored. Usually planning for anything whether a party or prom or a business meeting or even a vacation is an essential part of the act itself and winging it is most definitely not a bright idea. There are a lot of reasons why people plan and it could range from saving money to making the most of the resources available for a project. For pet shops, starting out might look simple but it is usually more complex and like every other business, it does need a lot of prepping. One of the ways to prep for this is to create a business plan that could let people know what kind of business you run. If you are looking for funding, the perfect business plan could act as a catalyst and help you gain credence in the eyes of your investors. Where it isn’t about funding, a pet shop business plan will help you monitor the progress of your business and determine what methods are more suitable and the ones that should be abandoned. 

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First things first, try as much as possible to do all the homework required for starting a business especially a pet shop business. There are a lot of people in the field so precedence shouldn’t be hard to come by. 

Checklist to to write a Proper Pet Shop business plan

•   You would need to understand why you want to start a pet shop business in the first place and what purpose it is going to fulfil in the long run. 
•   Get to identify, understand and analyze your potential market or the target audience for your pet shop business. Look at the size of that audience too if it suits your business ideas.
•   Find out what it is you need to get the business or company started. Your knowledge of pet services is an example. Where you have not had the requisite training or experience in pet services, starting a business of this nature unless you intend to outsource it all would be an attempt in futility. Yes, you love pets but most times this is not enough. In this situation, you would need to identify continuing education programs that have to do with pets and this should be tied to which service you would want your business to specialize in. 
•   Start making samples or in this case rendering pet shop services to the neighbouring area.
•   Identify some possible locations where you could pitch your tent.
•   Find out the cost of starting the whole business. What would it take to get the business up and running? Though this business could be a low cost depending on the area of expertise, it is still advised that you know exactly what the financial expectations are. 
•   Identify potential investors and while you’re at it, make sure your business meets all the requirements an investor would need. 
•   Take a look at the competition. This would give you an understanding of the target area and if their businesses are booming or running at a loss. Where they are doing well, this suggests that there are a lot of pet owners in the area and this is a good sign. 

 

Now that you have done the preliminary work, it is time to write out the pet shop’s business plan. There are a lot of things that should be contained in a document of this nature and each will be listed with an overview of what the content should be and what is required of a pet shop business.

Executive Summary

So, while this is written last, it usually comes first in your business plan. It is basically a summary of everything your pet shop business stands for and what it has to offer. So you would start out by introducing the business and its location, followed by what products or services it renders. The summary should be short enough to keep things interesting and long enough to cover the subject matter. It should be catchy though so people can easily remember and adapt. 

Products and/or Services

This is basically a precise and apt list and description of all the products and services your pet shop wishes to render. So, you could include pet grooming, pet food sales, sale of pet toys, daycare, etc. Make it fun and entertaining. You are meeting a need, creating supplies for demands so make your work sound interesting. You could give a detailed description of the services but be sure to keep it short and simple. 

Vision Statement

This is usually long term. Something you want to achieve with the pet shop business in the long term. For example, you could want to become the best pet shop business in your country or state. 

Mission Statement

This is more specific and less abstract. A mission statement is usually a practical means of achieving the vision statement. In this instance, the mission statement would be “To provide sustainable pet services for all our clients and to maintain a state of the art customer service all year round”. 

Market Analysis

•   Trends

This would naturally include the market trends visible in the business at the time and how you intend to conveniently maneuver those trends if they are indeed bad. One trend when it comes to the pet shop business is that pet shop owners now include some pet services say like grooming or daycare to add value and boost sales of their products and to generate more income. 

•   Target market

Another aspect of the market analysis would be the target market. Who are your potential clients and why? In places like the United States of America, there are laws guiding how pets should be handled and those laws act as a bar on the population. So this means that they are likely to look out for the most ideal conditions or products for their pets. This would also mean that pet store businesses will be held to a higher standard than before. So your business plan should state what your target market is and who is the audience you look to attract. 

•   Competitiveness 

Thirdly, you would need to market your business competitive advantage. With a lot of people in the pet business, you would need to stand out and be exceptional or have a tremendous customer service to survive the competition. This is why it is absolutely necessary to inculcate your X ingredient, something peculiar to you that sets you on the edge over all other pet businesses. This would need to make its way to your business plan. Tell the world or your investors to be how you intend to make them a lot of profit despite the competition in the industry. 

 

Sales/Marketing Strategy

•   Income 

This is where the money is talked about. Let’s start with the sources of income. Your pet business undoubtedly has income from different channels, the more the merrier anyway. So you would need to make a list of all the different products and services that your company indulges in that is a source of income. So you could say, pet foods, pet grooming, pet retailing, daycare center. All these are different ways that the business makes money. 

•   Projections 

While it may be like counting your eggs before they are hatched, a sales projection will be needed too. Sales projections are usually based on the current obtainable price of products and services in the market give or take the underlying factors that may influence it. They are also based on the position or location of the business. Your target area has a way of affecting you drastically. Where you are in a high-end area, sales may be easy but some locations do not have a lot of pet owners or lovers and this is part of what should have been researched before obtaining a space. The sales forecast is also dependent on the fact that you do not have the same level of competition in the target area. However, even when all these are put into consideration, the forecast could be higher or smaller. 

•   Marketing 

Marketing your business is another pertinent aspect of your business plan. When drafting your business plan, you would need to include your marketing strategies and how you intend to get your business to the world. This would give the investor an understanding of what the business means to you. Marketing your business could include conducting awareness programs, roadshows, making use of publicity materials such as ads and banners and the rest of them. You would need to show that you have your strategies and they have been tested and trusted and recommended by professionals. 

Publicity and Ads 

With every business comes the need to publicize or run the risk of losing out. So you could include all the places and measures you intend to take to get the desired publicity you need for the business. Usually, new businesses need these more because older businesses have stood the test of time and are trusted. So inculcate modern and advanced modes of publicity like the social media which is way faster and easier. You need to show that you understand the perks of advertising and you have all it takes to get it right. 

Pricing 

Your pricing strategy must be through the roof and should be all-encompassing of other pet-related businesses in your location. While you may not be able to visibly compete with older and bigger pet businesses around, try as much as possible to make sure your pricing does not exceed theirs giving your customers more reason to patronize them. This would also be included in your business plan. 

For everyone willing to patronize your business, be sure to let them know the payment options. This is necessary in a business plan as it suggests the mode of payment for the products and services rendered. Stick to digital modes of payment. You would need to speak to your banker about this. 

Sustainability 

This basically has to do with the sustainability or otherwise of your pet business. This usually depends on the loyalty of one’s customers and the competence or otherwise of the employees. Where this is present, the business will thrive in difficult conditions. This needs to make its way to the business plan to assure the investors of your competence in the pet business. 

Another aspect of your business plan that may be of importance is your organizational structure. Usually, this shows the duties and responsibilities of the staffs in the company and what they are entitled to in the long run. This shows that the business has a structure laid down and it also encourages career opportunities for those who are going to be employed to fill these positions. A business structure could include the following positions: chief executive officer, store manager, human resources manager, sales and marketing manager, accountants, cashiers, customer service agents, pet handlers, groomers and trainers and a lot more. Stating these and listing out what is required of each of them shows some level of organization, something investors love to see. 

The essence of a business plan is to help you sell yourself to your potential investors irrespective of whether your business is old or relatively new. It could also be to keep you in check when it seems you are wilding out. This is an art that needs to be mastered to make your business better appeal to people. 

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