How to Start a Pet Supply Business
The latest census surveys tell us that more than 60% of American homes now have at least one pet. This means that the market for pet supplies is wide open. While major pet supply companies such as PetCo and Pet Supermarket are offering stiff competition to the small local pet supply businesses, there is still plenty of room for success in this area. All that is needed is a proper business plan, a plan for competing with the larger stores, and a commitment to providing the best service possible.
The Basics
Starting a pet supply company will be no different from starting any other company with respect to some of the basic principles of small business entrepreneurship. A new business needs capital, which can be obtained through bank loans, angel investors, the government, or friends and family. Next, a good location based on curb appeal, neighborhood surroundings, and necessary parking space is required. Finally, an advertising plan, whether it be through the local newspapers, television, or direct marketing needs to be created.
Pet Specifics
The major pet supply chains are growing larger by the day. This makes it more and more difficult for small businesses to compete, as the major chains may offer lower prices, and other options that can't be offered by a small business. On the other hand, many of these pet supply stores are sorely lacking when it comes to variety. Make a list of every conceivable pet a person might have, and stock at least two items for even the rarest pet need. Bridles for horses, beds for potbelly pigs, chipmunk feed; exotic pets are quite popular and have various needs. Owners of more exotic pets find the larger chain stores to be remiss in providing their supply needs, so this is a good niche to occupy for a smaller shop.
The Internet
On the internet, all stores have more opportunity to display their products. A fledgling pet supply store can certainly have a website that looks just as good, from an aesthetic standpoint, as any of the major pet supply chains. Branching out to the internet lets a small business attract customers from all over the world, who would never have the opportunity to visit a local store in another region.
Trendy, Trendy
Keep a close eye on the latest trends in both pet choices and pet supplies. For instance, the popularity of Paris Hilton has turned the Chihuahua into a fashion statement. Playing to the market for these pets will enhance the sales of the shop. There are always new trends, by researching and staying on top of the marketplace a new business will maintain its viability.
