guest blogger Brandon Butler
According to research, Americans spend an average of $100 on their pet each month. So, it comes as no surprise that the pet care industry is a profitable industry to be in, especially if you are thinking of starting up your own pet care business.
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Pick a niche business idea
There is a plethora of opportunities for entrepreneurs who want to enter the pet care business such as opening an e-commerce pet store, pet training, pet grooming, pet sitting, and much more. It is important to first decide on which business appeals to you and that ideally matches your strengths so that you have a great start.
Next, create a business plan
Creating a business plan is a vital step in establishing any business, and a pet care business is no different. It is a blueprint that details all the steps to get to where you want to be. Essentially, a business plan is your go-to plan that will involve all of the details of every aspect of your business. This will help you stay on course. Some of the details of a well-put-together business plan include your mission statement, the products or services you offer, your goals, sales and marketing objectives, your financial projections, etc.
Of course, one section of your business plan that’s going to require a fair amount of detail is the marketing plan. Moreover, you’re probably going to have to use many marketing channels and marketing tools to market your new business effectively. For example, business cards still work really well today (despite being around for decades) for marketing purposes. Business cards are also perhaps more memorable than email marketing because they are a tangible reminder of what you have to offer. With an online business card maker, you can customize your own business card using a premade template.
Getting the business basics in place
Creating a name for your business that is catchy, but that also speaks volumes about what you do can be a tricky thing to do. Also, it should be memorable enough so that your business instantly comes to mind when your services are needed. Next you have to decide on a business structure and start the filing process for that. You will need an EIN number, open a separate business bank account and apply for any licenses or permits if you need one.
Examine your financials
This can often be a complicated step if numbers aren’t your forte. However, it is vitally important if you need startup capital to achieving your business dream. That said, if you’re looking for additional capital, then a business loan isn’t your only option. Of course, you can also acquire start-up capital through other means such as bootstrapping, angel investors, venture capital, etc.
In conclusion, starting your own pet care business should be fairly given the high demand for pet care products and services. A genuine love for animals and a carefully thought-out plan will make your new business venture a success.