If you are serious about developing a Great Pet Care Business, then you need to do your homework on the following topics and become the ultimate expert on every aspect of your pet care business opportunity. Here are the 10 things which you need in your business plan to develop a Great Pet Business.
- The Executive Summary – Your Executive Summary should convey the excitement and passion you have for the Pet Care Industry as well as the timeliness of establishing a Pet Care Services business in your proposed location at this time.. Your Executive Summary should describe what service sand products you will offer, the cost of putting your business together, and the the amount of money you expect to earn.
- The Company Summary – The Company summary should inform the reader of the legal form of your business, i.e. LLC or Corporation, the company ownership, a startup expense summary, and a description of the proposed facility and its location.
- Management and Personnel Summary – Your Management and Personnel Summary should describe the Key Management and Operations Personnel i.e. managers, Assistant Mangers, Kennel Attendants, etc, who will be responsible for the successful operation of the business on a day to day basis. You should also list their respective duties and obligations as well as their experience in business related activities and pet care related experience specifically.
- Products and Services – You will need to define the products and services which you wish to offer in your business such as Pet Boarding, Dog Day Care, Grooming, Retail, Training, and other services, what you will charge for those products and services, how you determined those rates, and how they compare to the rates charges by your competitors, and very importantly how you are going to market your business.
- Competitive Analysis – You will need to conduct a comprehensive competitive analysis in your target market area. The analysis needs to include Veterinary Clinics, Boarding Facilities, Dog Day Care businesses, Grooming and Training Facilities, Pet Sitting Services, Mobile Pet Groomers, and Dog Walking Facilities. You need to know what products and services your competitors offer, what their facilities are like, and what kind of competitive advantage you may have over them ( or they over you).
- Target Market Analysis – You will need to know everything there is to know about your target market, how you determined it, the demographic characteristics of the people who reside within your target market, the pet populations, and the community. You can get some of this from Wikipedia and Google searches, but we recommend that you obtain the most current demographic information available for your target market area. from a company like The Nielson Company http://www.nielsen.com who can provide a target market analysis called A SiteReport or A Demographic Snapshot for your proposed location.
- Sales Forecasts – You will need to develop a comprehensive five year financial forecast for revenue expected from your business operations including two years of month by month forecasts and three additional years of year by year forecasts.
- Expense & Personnel Forecasts – Your expense and payroll forecasts should identify all costs associated with operating your business including payroll, advertising, rent, insurance, utilities, debt service, and and more.
- Projected Profit and Loss – A 5 year Projected Profit and Loss Statement should be prepared to predict income or loss from business operations on a Month by Month for 2 years and a Year to Year basis for 3 years.
10. Projected Cash Flow & Balance Sheet – Your Projected Cash Flow Statement should provide cash flows on a Month by Month basis for 2 years and a Year to Year analysis of cash needed to operate the business on a year by year basis for an additional 3 years.
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