If you plan on starting a business, you should definitely consider opening a pet store. This is especially true if your town does not have any good pet store despite having a large number of pet owners. That is simply an opportunity which is waiting to be exploited. But before you go about investing your money to set up a store for pets, you need to know the basics of the business. And below, we will look at seven things you must keep in mind when opening a pet store
1) Consider The Laws
First, you need to check the local pet store laws to ensure that your shop will not be violating any rules. You need to keep the store within the guidelines set up by the local authorities to avoid getting fined or even shut down. The laws not only deal with the setup of the business, but also its operations and activities. For example, a pet store that sells a cat or a dog will have to issue a veterinarian authorized certificate to the buyers during the time of sale. If you do not abide by these laws, you can end up in legal trouble.
2) Registration And License
Next, you need to look into the registration and license of the store. For this, you first need to decide on the business structure. Consult a good attorney and they will know what type of registration is required based on the structure of your business. The store will have to be registered with different levels of government bodies. In addition to registration, you will also need to obtain the necessary licenses from both the state and city governments. Plus, the store will also need to be registered with the IRS and other state taxes.
3) Store Location
Just as with any other business, the location of the store is very critical to its success. As a rule of thumb, your store must be located at one of the busiest spots in the town. This will ensure that you get the maximum number of people. Plus, there must be adequate free space around the store so that customers can park their car during their visit. If the customers have to park the car far away from the store, then it is very likely that they would avoid coming to the place.
You also need to find out reliable wholesale suppliers and dealers who will provide you the products at competitive rates. For this, you will have to get in touch with local pet supply dealers and check out their offers. Some dealers will be more open to providing a bigger discount if you agree to source your supplies only from them. Plus, you also need to come up with a payment arrangement and decide what your credit limit will be, the duration of the credit limit, and so on.
5) Marketing And Promotion
The success of any business venture is dependent on how well it is promoted. Your pet store is no different. When you think “How To Market Pet Products Effectively?’, be sure to consider newer and radical ways of promoting your business. Sure, the typical advertisements in local newspapers will work. But in addition to those, you need to consider unique ways of marketing that will make you the talk of the town. For example, you can set up a dog dance competition in the town and make the videos go viral to get exposure.
Consider whether you will only be selling products at your store or will also offer services. Do a good study of the market and explore the possibilities of starting a pet care service. For example, you can set up some space at the store for dog grooming. By doing so, you utilize your existing space to create a new source of revenue. And if there is sufficient enough local demand for the service, then you will surely make a killer profit from it.
7) Employee Training
Finally, remember to provide proper training to the store employees. Nothing will irritate a customer more than rude employees who are uncaring to their needs. And as a result, you will start losing out on regular customers. So, only pick people who have pleasant talking skills as the employees and make sure that you train them properly on how to run the store. If a customer asks any doubt about a product, they should be able to address it. Only such employees will guarantee the success of your pet store.