Start & Run a Pet Business (eBook)

Contents
Introduction xi
1 The Different Types of Pet Businesses 1
1. Service 3
2. Health Care 5
3. Retail 6
3.1 Online retail 7
3.2 Storefront 8
4. Nonprofit and Volunteer Work 8
2 Prepare Your Business Plan 11
1. What Goes into a Business Plan? 14
1.1 Executive summary 14
1.2 Mission statement 15
1.3 History and background 15
1.4 Description of your business 15
1.5 Company values 16
1.6 Operations and employees 16
1.6a Location and facilities 17
1.6b Equipment 17
1.7 Market research 17
1.8 Sales and marketing strategy 18
1.9 Financial plan 19
1.9a Income statement 19
1.9b Cash-flow projection 20
1.9c Balance sheet 22
1.9d Start-up costs 22
iv Start & run a pet business
1.10 Forecasts and projections 24
2. Revisit Your Business Plan 24
3 Setting up Your Business Structure and Obtaining Financing 29
1. Deciding on a Business Structure 31
1.1 Sole proprietorships 31
1.2 Partnerships 32
1.2a Partnership agreement 32
1.3 United States corporations 33
1.4 United States Limited Liability Company (LLC) 35
1.5 Incorporating in Canada 35
2. Business Licensing 36
3. Business Identification Number 36
4. Business Bank Account 37
5. Bookkeeping and Accounting 38
6. Sales Tax 39
7. Filing Tax Returns 40
8. Finding a Lender 41
8.1 Banks and other financial lenders 41
8.2 Financial investors 42
8.3 Personal loans from friends or family 42
8.4 Grants 43
4 Choosing a Location 45
1. The Home-Based Pet Business 47
2. Leasing Commercial Property 49
2.1 Additional costs 50
2.2 Renovating leased property 50
2.3 Time period 51
2.4 Other considerations when signing a lease 51
3. Purchasing an Established Business 52
Contents v
4. Joining a Franchise 53
5. Buying Commercial Property 56
6. Laws and Bylaws 58
6.1 Zoning regulations 58
6.2 Breeding bans 59
6.2a Breed-specific legislation in the United States 59
6.2b Breed-specific legislation in Canada 61
5 Marketing and Advertising Your Business 63
1. Identifying Your Target Market 65
2. How to Reach Your Clients 66
3. Marketing Goals 67
4. Types of Advertising 67
4.1 Online advertising 68
4.1a Websites 69
4.1b Blogs 70
4.2 Flyers and posters 70
4.3 Cross promotions 70
4.4 Word of mouth 71
4.5 Community and charity events 71
5. Cost Analysis for Advertising and Promotion 72
6 Working with the Pet Community to Promote Your Business 75
1. Shelters and Rescues 77
2. Supporting Nonprofit Organizations and Charities 78
3. Collaborating with Other Pet-Based Businesses 78
4. Pet Expos 79
5. Trade Shows 80
7 Hiring Staff and Acquiring Equipment 81
1. Hiring Help 83
vi Start & run a pet business
1.1 Hiring part-time or full-time employees 83
1.1a Employee wages 84
1.2 Accredited staffing: contracted employees 85
1.2a Paying temporary employees 85
1.3 Where to find qualified staff 86
1.4 Interviewing potential candidates 86
2. Buying Equipment and Products 86
2.1 Setting up accounts with suppliers 88
2.2 Selling products on consignment 89
2.3 Tracking your inventory 89
8 Ethical Practices When Working with Animals 91
1. Be Aware 95
2. Ethical Purchasing 96
3. Ethical Business Practices 96
9 Future Trends of the Pet Industry 99
1. The Growth of the Pet Industry in the Last Decade 101
2. What the Pet Industry Is Today 102
3. Further Expansion of Your Business 105
Worksheets
1 Income Statement 21
2 Cash-Flow Projections 23
3 Balance Sheet 25
4 Start-Up Costs 27
5 Cost Analysis for Advertising and Promotions 73