The pet industry is booming, and it’s not showing signs of slowing down anytime soon. According to a 2021 survey conducted by the American Pet Products Association (APPA), about 70 percent of all households in the United States—which roughly translates to 90.5 million families—own at least one pet. That’s a lot of consumers that would need pet food and basic pet accessories, at the very least.
If you’re interested in setting up a pet-related business yourself, you may be overwhelmed by the many options you can choose from. Because there are so many types of products and services you can provide to pet owners, it can be difficult to narrow down exactly what your business should be. To figure out the best choice for you, you need to have a good idea of your business objectives and what you’re willing to do to reach your goals.
That said, here are a few tips on how to decide what kind of pet business to open:
Find Out What Your Options Are
What do you plan to sell to pet owners? Are you keen on building a brand that sells a specific kind of product such as wholesale dog collars, personalized dog beds, custom dog toys, or gourmet pet treats? Or would you rather provide services such as dog walking, grooming, training, or daycare?
In addition to these options, it’s also possible to use your existing skills and knowledge to provide compelling pet-related services to pet owners. If you have experience in digital marketing, for example, you can make a living setting up social media accounts for people’s pets.
If you have a knack for snapping great-looking shots, consider starting a professional photo studio for cats and dogs. When it comes to ideas for pet-related businesses, the possibilities are endless!
Make a List of the Resources Available to You
Your plan for your business is not solely determined by your vision, as it should also be backed by the right set of resources. If you want to offer your services to pet parents, you need to have the right set of skills and credentials first. Only with these can you get your prospective customers to entrust their animal companions to you.
If, for example, you want to open a pet grooming business, you need to have experience in the said field to assure your customers that you’ll get the job done right the first time. If you’re planning on selling goods, you must have a reliable supplier of custom pet products that can help you keep your most in-demand items always in stock.
Determine the Scope of Your Business
When people first entertain the idea of starting their very own business, they often think that they have to offer a wide range of products and services from the get-go. They may also feel that they must immediately be able to serve customers found across the country for their venture to be considered successful.
While there’s nothing wrong with dreaming big, you may end up biting off more than you can chew if you aren’t careful. And without a specific business scope, you won’t be able to accurately identify any potential risks or predict potential problems that may arise.
So, make sure to clearly plan out all details relevant to your venture, including the type of customers you want to serve, where you plan to operate your business from, and what the exact nature of your offerings will be, among many other things. This will give you the information you need to not only serve your customers well but also properly prepare for any possible setbacks.
Get a Good Idea of What Your Market Needs or Wants
Another factor that you should consider is whether or not the products and services that you offer are something that your target market needs.
If there are plenty of dog daycare centers in your area, for example, then it would not make much sense to open another one unless you have something different to offer your prospective customers. However, if there are plenty of pet owners in your area who are looking for dog sitting and walking services in preparation for their return to the office, then that might provide you with a strong opening for your business.
Remember that you’re running a business, and for that company to make a profit, there has to be a need for it. Check out what your online and offline communities need in terms of pet products and services before settling on a business idea.
Setting Up Your New Pet-Related Business for Success
A lot will still need to be done to give your up-and-coming pet-related business a better chance of succeeding. Additionally, the first few months of operating your business might seem like it’s an uphill battle all the time.
Before you get into the thick of it, plan your strategy for setting up and running your business well, connecting with your target market, and refining the products and services that you intend to offer your customers. With the right plan and consistent execution, you, too, can make the most of the pet industry boom.
