According to the American Pet Products Association, the US pet supply industry is expected to see over $75 billion in sales in 2019. That’s $3 billion more than what was spent last year to keep “man’s best friend” happy and healthy.
If you dream of opening an animal supply store, then this article is for you! Study these five key tips to starting your own successful pet business so you’ll know if it’s a good match for you.
Key Tasks to Opening a Pet Supply Store
There are some key tasks you should take care of before you hang out that “open for business” sign. These tasks include:
1. Obtain Appropriate Business Licensing
The licenses and permits you’ll need will depend on your business activities and location. Certain local and state licenses are necessary to operate your own pet supplies store.
The US Small Business Administration is a good first place to start to see what each state requires. Once you’ve read up on your state and local requirements, you’ll need to register a business name. You can register this business name with your local city or county clerk’s office.
2. Pick a Store Location
Be sure to pick a strategic location for your animal supply store. Choose a spot that has plenty of customer parking and room for delivery trucks to offload products.
Read your lease agreement carefully. Check to see if rent includes utility costs or other hidden expenses. You should also check to see if there are restrictions on your day/hours of operation.
3. Find Unique Suppliers
Whether its dog food or aquarium supplies, you’ll need to find suppliers to order your products from. Choose products that are uncommon or unavailable at your competitor’s stores. For example, this specific tank clearly sets itself apart from other standard tanks.
Attend upcoming pet trade shows or industry fairs to meet suppliers in your area. You can also ask your veterinarian for recommendations on specialty foods for different animal medical disorders. Local pet doctors can be an effective marketing tool to drive pet owners your way.
4. Promotion and Marketing
Create your business website early to allow potential customers to learn more about the products and services you offer. Use your social media channels to offer “grand opening” discounts on your products as a way to attract pet owners to come and check out your store.
Most of your marketing efforts should be aimed towards local printed advertising. Partner with other local businesses (i.e., dog groomers, veterinarians) to tap into your local pet owner audience. Offer discounts on pet food as this item may be your best selling product.
5. Hire/Train Staff
Your next task is to hire friendly pet-loving staff to help run your store. Search for staff at local animal rescue societies or community colleges. You might also find good candidates at veterinary assistant programs as well.
Be sure to train your staff and advise them of your expectations. Brief them on the important facts of items stocked in your store. Schedule ongoing staff training on industry trends and customer service skills.
Next Steps
Ready to make your pet supply business a reality? The good news is you can start today.
Check the US Small Business Administration website to read up on licensing requirements in your area. Your local chamber of commerce is another good resource for help on complying with these requirements.
Don’t forget to keep browsing our website for more helpful advice. We’re here to make sure your business is one that keeps the fish happy and the cats purring.
