Did you know that pet owners spend nearly $70 billion a year on their pets? Why not capitalize on some of that spending with a pet store of your own? If you love pets and are looking for a small business, a pet store might be right for you.
If you wondering how to open a pet store, you’re in the right place. Use these 5 tips to get your business up and running.
How to Open a Pet Store
With any small business, you’ll want to study the viability of a pet store business. Will your community support a small pet shop? Is there enough interest and traffic? Do you have appropriate resources to invest in a brick and mortar store? If you answer yes to these questions and decide to move forward, there are some steps you’ll want to take.
1. Create a Business Plan
A business plan is necessary for businesses of any size. This plan will establish your short-term and long-term goals, services you want to offer, supplies you will sell, and any expenses you anticipate.
You can also determine responsibilities, staff needed, and plan for marketing efforts. You’ll definitely want to have a complete and thorough business plan if you are seeking funding for the pet store.
2. Get Licenses, Insurance, and Other Necessary Permits
Dealing with animals will likely require specific licenses and insurance. Check with your local government to make sure you are meeting all of the requirements. There are also federal laws, such as licensing under the Animal Welfare Act and the USDA Animal and Plant Health Inspection Services.
Because you will be dealing with animals, you will require specific licenses and insurance to start your business. Check with local authorities before you start your business and then obtain any licenses, certificates, and insurance required by law to run a pet store.
3. Find a Space for Your Store
Finding a good space for your store is important. Think about foot traffic, parking, and proximity to other stores. Once you find an appropriate location, you can plan an opening and start buying merchandise and equipment.
Once you’ve obtained proper financing, you will need to rent a retail space for your pet store. Renting an appropriate space will allow you to start buying supplies and get set up to make profits.
4. Purchase Supplies and Stock Your Store
Your business plan should include the various supplies you’ll need as well as the products you plan to sell. Use this time to establish relationships with suppliers and other retailers. Think about unique products you might stock, like summer dog cooling pads.
If you are providing services, such as grooming, you’ll also need supplies for that part of your business. If you plan to sell animals, getting them from reputable breeders will be important. Check their credentials and make sure each animal you receive is healthy.
5. Market and Open Your Store
After you’ve stocked your store, it’s time to plan a soft opening and a grand opening. Use the soft opening to work out any kinks and tweak your business as necessary.
The grand opening can include different events, contests, giveaways, and specials. You want to attract customers and give them a reason to return to your store.
Ready, Set, Go!
Now that you have some concrete steps to take, it’s time to make it happen. Use these tips on how to open a pet store to make your dream a reality. Check out our blog for even more resources for starting a business.