Are you about starting a pet sitting business? If YES, here’s a complete sample pet sitting business plan template & feasibility report you can use for FREE to raise money. There are various businesses that surround pets and some of these businesses will require that you garner a great deal of skills and information so that you can operate optimally.
One of the businesses that you may want to look into starting is the pet sitting business. In the united states of America where people are crazy about pets, this type of business thrives a whole lot.
A Sample Pet Sitting Business Plan Template
Table of Content
- 1. Industry Overview
- 2. Executive Summary
- 3. Our Products and Services
- 4. Our Mission and Vision Statement
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 8. Our Target Market
- 9. SALES AND MARKETING STRATEGY
- 10. Sales Forecast
- 11. Publicity and Advertising Strategy
- 12. Our Pricing Strategy
- 13. Startup Expenditure (Budget)
- 14. Sustainability and Expansion Strategy
1. Industry Overview
Pet sitting business falls under the Pet Grooming and Boarding industry. The Pet Grooming and Boarding industry has proven over the years to be one of the very few established industries to publish consistently strong gains over the past decade, virtually doubling in size and growing even in the midst of recession as consumers purchase a wider array of luxury services for their pets.
The growing industry has benefited from changing consumer attitudes, which increased demand for a variety of new luxury pet services such as pet sitting. Going forward, this trend is expected to gain further momentum as pet ownership rises and owners use their increasing disposable income on services such as pet sitting for their pets.
A report published by the American Pet Product Association (APPA), shows that even though Americans loved pets, those who owned dogs were at 18.9 percent, third on the pet scale. It gave results that the annual growth for this industry is at 3.1 percent from 2009 to 2014, bringing in combined revenue – with other pet sitting services – of $907m as at 2014.
Also as at 2014, there were 22,787 people employed by dog related businesses or as independent contractors, and there were 18,144 dog service businesses. Doggie daycare services have increased in from 2009 to 2014, and will still increase till 2019 despite the poor economic outlook.
This is due to the fact that customers have more disposable income to spend on their dogs, and that dogs are considered part of the family. A report published by Fetch Pet Care shows that franchises all over barely made above 1 percent of the total industry revenue.
This is due to the fact that doggie daycare services is tailor made for immediate localities and neighborhoods, and will have clients seeking to use the services of those who lived around as they believed that these ones were likely to provide a personalized care to their pets when they have to travel out of town or too busy to take care of their pets for the period in time.
According to the American Pet Product Association (APPA) as at 2010, Americans had spent over $47.7 billion on pet products and services, an increase of 4.8 percent from 2009. It was found that 46 percent of households owned more than one pet, and that only 3 percent of households use pet sitting services.
Statistics has it that The Pet Grooming and Boarding industry in the United States of America, is worth $7bn, with an estimated growth rate of 6.6 percent. There are about 106,319 registered and licensed Pet Grooming and Boarding businesses in the United States and they are responsible for employing about 195,070 people. No company can boast of dominating the market; every player in the industry can comfortably compete in the industry.
The Pet Grooming and Boarding industry cum pet sitting line of business is still at its infancy stage, and is projected as a growing industry with more people thinking of investing in pet sitting services; especially as existing pet sitting centers are minute as compared against the population of those who own pets.
Due to the growth of the population of baby boomers, young children, young couples, and the elderly; one can say that this industry will be on a continuous growth especially as people now relate with pets as part of their family and life.
2. Executive Summary
Pet Empire®, LLC is a standard and licensed pet sitting and daycare center and a one stop pet company that will be located in the heart of Arlington – Texas in a neatly renovated and secured housing facility highly suitable for the kind of business we want to run.
We are a company that will carry out all round services as it relates to pets. We will provide pet sitting and pet care services, such as pet shelters, obedience training services, guard dog training services, pet boarding and pet grooming services
Pet Empire®, LLC is a family owned and managed business that takes great delight in helping pets owners take care of their pets when they are out of town and in giving pets the right treatment they need to enable them perform their roles as defined by the owner.
We will ensure that any pet under our custody are well taken care of and in the pursuit of excellence and financial success with uncompromising services and integrity which is why we have decided to venture into pet sitting business. We are certain that our values will help us drive the business to enviable heights and also help us attract the numbers of clients that are needed per time to grow our business.
At Pet Empire®, LLC our clients’ overall best interest would always come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hire professional pet handlers / trainers and vet doctors et al that are well experienced and passionate in taking care and imparting knowledge and skills to pets at various learning ladder.
Pet Empire®, LLC will at all times demonstrate her commitment to sustainability, both individually and as a pet sitting services business, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our clients’ needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our overall business goal is to position our pet sitting services business to become the leading pet sitting cum pet company brand in Pet Grooming and Boarding industry in the whole of Arlington – Texas, and also to be amongst the top 10 pet sitting services cum pet company in the United States of America within the first 5 years of operations.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Arlington – Texas is the right place to launch our pet sitting business.
Pet Empire®, LLC is founded by Dr. Maxwell O’Connor a qualified veterinary doctor and he will run the business with members of his immediate family. Rose Blue. Dr. Bob Blue – Haven is a renowned and licensed Vet Doctor and dog handler / trainer. He has well over 15 years of experience as a vet doctor and dog handler/ trainer for various security agencies including the government of the United States of America.
3. Our Products and Services
Pet Empire®, LLC is going to offer varieties of pet related services within the scope of Pet Grooming and Boarding industry the United States of America. Our intention of starting our pet sitting business is to provide a safe facility for owners of pets to keep their pets whenever they are not in town or when they are busy at work and also to help in developing our client’s pets in any skills and knowledge of their choice as it relates to specific useful competencies they want their pet to possess.
We want to go beyond pet sitting services to helping our clients develop their pets capability, capacity, productivity and performance and of course to also make profits from The Pet Grooming and Boarding industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.
Our products and service offerings are listed below;
- Pet sitting and pet grooming
- Operating pet shelters
- Boarding pets
- Operating dog pounds
- Guard dog training
- Obedience training
- Pet training
- General merchandize of pet related products (pet foods, shampoos, dog tie, dog chains, and pet clothes et al)
4. Our Mission and Vision Statement
- Our vision is to build a highly competitive and successful pet sitting business that will become the number one choice for both individuals and corporate organizations in Arlington – Texas.
- Our mission is to position Pet Empire®, LLC. to become one of the leading pet sitting cum pet services brand in the industry in the whole of Arlington – Texas, and also to be amongst the top 10 pet sitting cum pet services brand in the United States of America within the first 5 years of operations.
Our Business Structure
It is a known fact that, the success of any business is to a larger extent dependent on the business structure of the organization and the people who occupy the available roles in the organization. Pet Empire®, LLC will build a solid business structure that can support the growth of our pet sitting business. We will ensure that we hire competent hands to help us build the business of our dream.
The fact that we want to become one of the leading pet sitting services business brand in the industry in the whole of the United States of America makes it highly necessary for our organization to deliberately build a well – structured business from the onset.
We will work hard to ensure that we only attract people with the right mindset to help us achieve our business goals and objectives in record time. Below are the roles that will be made available in our organization;
- Principal Partner / Chief Executive Officer
- Human Resources and Admin Manager
- Vet Doctor
- Pet Handlers / Pet Trainers for Various Skill Sets
- Accountant / Bursar
- Marketing and Sale Executive
- Client Service Executive
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for providing direction for the business
- Creates, communicate, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization.
- Responsible for handling the overall operations in the vet clinics
- Handles the treatment of pets
- Gives medical advises and recommendations as it relates to the health and welfare of pets.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for Pet Nation® Doggie Daycare Services Co.
- Design job descriptions with KPI to drive performance management for dog walkers and pet trainers
- Regularly hold meetings with key stakeholders (clients and member of the organizations’ board) to review the effectiveness of the organizations’ Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversee the smooth running of the daily activities of Pet Empire®, LLC
Pet Handlers / Pet Trainers
- Handles general pet sitting and pet walking / grooming services
- Responsible for operating pet shelters
- Responsible for boarding pets
- Responsible for operating dog pounds
- Effectively training dogs and pets in specific skills (hunting skills, security skills, running errands and circus skills et al)
- Evaluates and document the progress of pets under his or her care
- Receives complaints from clients and channel it to the appropriate quarters
- Handles any other duty as assigned by the HR and Admin Manager.
Marketing and Sales Executive
- Handles general merchandize of pet related products (pet foods, shampoos, dog tie, dog chains, and pet clothes et al)
- Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents Pet Empire®, LLC in strategic meetings
- Helps to increase sales and growth for Pet Empire®, LLC.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for Pet Empire®, LLC
- Serves as internal auditor for Pet Empire®, LLC
Client Service Executive
- Welcomes / receive clients and their pets by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the HR and Admin Manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Receives parcels / documents for Pet Empire®, LLC
- Distribute mails in the organization
- Handles any other duties as assigned by the Human Resources and Admin Manager.
- Responsible for cleaning the pet housing facility at all times
- Ensures that toiletries and supplies don’t run out of stock
- Cleans both the interior and exterior of the pet housing facility
- Handles any other duty as assigned by the human resource and admin manager.
6. SWOT Analysis
Pet Empire®, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured pet sitting business that can favorably compete in the highly competitive Pet Grooming and Boarding industry in the United States and the world at large.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Pet Empire®, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Pet Empire®, LLC;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the Pet Grooming and Boarding industry, a team with excellent qualifications and experience in dog walking and pet related services including veterinary medicine.
Aside from the synergy that exist in our carefully selected workforce, Pet Empire®, LLC is well positioned in a community with the right demography; loads of people who own pets in the community. With that, we know we will attract loads of clients from the first day we open our doors for business.
As a new pet sitting services company in Arlington – Texas, it might take some time for our pet sitting company to break into the market and gain acceptance especially from top profile clients in the already saturated Pet Grooming and Boarding industry; that is perhaps our major weakness. Other perceived weakness is that, we may not have the required capital to pump into publicity and advertisement as we would love to do.
Beyond every reasonable doubt, the opportunities in the Pet Grooming and Boarding industry is massive considering the number of individuals and corporate organizations who own dogs and other pets who would want to drop them off in pet sitting / daycare or want them to acquire new skill sets and to perform excellently well in their jobs or who would want to bring their pets for treatment or to purchase pet supplies. As a standard pet sitting Services Company, we are ready to take advantage of any opportunity that comes our way.
Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.
Some of the threats that we are likely going to face as a pet sitting services business operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.
There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
Over the years, the Pet Grooming and Boarding industry is one of the very few established industries in the US to publish consistently strong gains over the past decade, virtually doubling in size and growing even in the midst of recession as consumers purchase a wider array of luxury services for their pets.
The growing industry has benefited from changing consumer attitudes, which increased demand for a variety of new luxury pet services such as doggie daycare. Going forward, this trend is expected to gain further momentum as pet ownership rises and owners use their increasing disposable income on services such as doggie day care for their pets.
One thing is certain, the trend in the Pet Grooming and Boarding industry is such that if you want to be ahead of your competitors, you should be able to be highly creative, simplify your processes and you should be able to have loads of testimonies from your clients (pet owners who drop off their pets in your daycare).
The truth is that, if your clients noticed tremendous changes in their pets as a result of your input, then they will be compelled to help promote your organization.
Another notable trend in this industry is the demographic and psychographic composition of those who require the services of a pet sitting services company is expanding as the year roles by; it is becoming trendier for owners of pet to brag about patronizing pet sitting services center.
8. Our Target Market
Before starting our pet sitting services business, we are certain that there is a wide range of both corporate and individual clients who would definitely need our services. We will ensure that we develop strategic pacts with communities and corporate organizations especially security agencies that make use of dogs for guards. This will give us several options to generate revenue for our company.
In view of that, we have created strategies that will enable us reach out to various corporate organizations (security agencies) and individual (pet owners) who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that our pet sitting services is well accepted in the market place. Below is a list of the people and organizations that we have specifically market our products and services to;
- Corporate organizations (especially security agencies)
- Busy business people who own pets
- Busy corporate executives who own pets
- Households who own pets
- Dog breeders
- Students who own pets
- The Government (Public Sector)
Our Competitive Advantage
Despite the obvious fact that pet sitting services are basically a new area of business that doesn’t have stiff major competitors, there are still competitors all the same. The competition available is most likely those within the same locality, and anyone looking to stay above competition would have to consider improving the services offered to pet owners.
Irrespective of level of competitions in the industry, local pet sitting services centers that are serious with the business can comfortably compete with franchises that are located in the same neighborhood. We are quite aware that to be highly competitive in the Pet Grooming and Boarding industry means that you should be able to deliver consistent quality service and you should be able to meet the expectations of your clients at all times.
Pet Empire®, LLC might be a new pet sitting services business in Arlington – Texas, our competitive advantage lies in the power of our team; our workforce. We have a team that are considered experts in the Pet Grooming and Boarding industry, a team with excellent qualifications and experience in dog walking and pet related services including veterinary medicine.
Aside from the synergy that exist in our carefully selected workforce, Pet Empire®, LLC is well positioned in a community with the right demography; loads of people who own pets. With that we know we will attract loads of clients from the first day we open our doors for business.
Lastly, our employees (pet handlers / pet trainers, and vet doctors et al) will be well taken care of, and their welfare package will be among the best within our category (startups pet sitting services centers and pet related businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Pet Empire®, LLC is established with the aim of maximizing profits in the Pet Grooming and Boarding industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. We will generate income by offering the following products and services;
- Pet grooming services
- Operating pet shelters
- Boarding pets
- Operating dog pounds
- Guard dog training
- Obedience training
- Pet sitting services
- Pet training services
- General merchandize of pet related products (pet foods, shampoos, dog tie, dog chains, and pet clothes et al)
10. Sales Forecast
One thing is certain, there would always be corporate organization and individual / household pet owners who would need people to take proper care of their pets or that extra coaching or grooming for their dogs and other pets. This is the major reason why the services of pet sitting cum pet day care will always be needed.
We are well positioned to take on the available market in Arlington – Texas and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow our clientele base.
We have been able to critically examine the Pet Grooming and Boarding industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Arlington – Texas.
Below is the sales projection for Pet Empire®, LLC, it is based on the location of our pet sitting services, vet clinic and of course the wide range of pet related services and products that we will be offering;
- First Fiscal Year-: $120,000
- Second Fiscal Year-: $350,000
- Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are conscious of the fact that there are stiffer competition amongst pet sitting services and pet related businesses in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Pet Empire®, LLC We will also ensure that our clients’ pets are well taken care of and they become experts with the skills they acquire.
We want to build a standard and first – class pet sitting cum pet day care center and pet related business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow Pet Empire®, LLC to become one of the top 10 pet sitting cum pet day care centers in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Arlington – Texas but also in other cities in the United States of America.
Pet Empire®, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our pet sitting cum pet day care center and pet related business by sending introductory letters alongside our brochure to corporate organizations, households and key stake holders in pet industry in Arlington – Texas
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Use friends and family to spread word about our pet sitting cum pet day care services and pet related business
- Post information about our pet sitting cum pet day care services and pet related business on bulletin boards in places like schools, libraries, and local coffee shops.
- Placing a small or classified advertisement in the newspaper, or local publication about our business
- Attend relevant pet related expos, seminars, and business fairs et al
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients.
11. Publicity and Advertising Strategy
We are aware of the role good publicity plays in the life cycle of a new business hence we were able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.
We are set to become the number one choice for both corporate clients and private clients in the whole of Arlington – Texas which is why we have made provisions for effective publicity and advertisement of our pet sitting cum pet day care services and pet related business. Below are the platforms we intend to leverage on to promote and advertise Pet Empire®, LLC;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Arlington – Texas
- Engage in road show from time to time in targeted neighborhoods in and around Arlington – Texas
- Distribute our fliers and handbills in target areas in and around Arlington – Texas
- Contact corporate organizations by calling them up and informing them of Pet Empire®, LLC and the services we offer
- List our pet sitting cum pet day care services and pet related business on local directories / yellow pages
- Advertise our pet sitting cum pet day care services and pet related business in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our pet handlers / pet trainers, vet doctors and staff members wear our branded shirts and all our vehicles are well branded with our organizations’ logo et al.
12. Our Pricing Strategy
Generally for pet sitting cum pet day care services and dog walking services business both per hour billing and flat fees on a weekly or monthly basis applies. As a result of this, Pet Empire®, LLC will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis.
At Pet Empire®, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to all our loyal clients at regular intervals.
We are aware that there are some clients that would need special assistance for their pets, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
At Pet Empire®, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
13. Startup Expenditure (Budget)
In setting up a pet sitting cum pet day care center and pet related business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of, and that your office environment is conducive enough for clients and their pets.
The materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a pet sitting cum pet day care services and pet related business; it might differ in other countries due to the value of their money. However, this is what it would cost us in the United of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $3,500
- Acquiring a facility or apartment for at least 6 months (Re – Construction of the facility inclusive) will cost – $35,000.
- Equipping the pet sitting cum pet day care center (dryers, tables, tubs, floor grills and trays, faucets and often ramps for pets. Additionally, pet-boarding operators must purchase bowls, bedding and cleaning materials, computers, printers, dog tie, dog chains, start – up inventories, furniture, telephones, filing cabinets, and electronics et al) will cost – $50,000
- Launching an official Website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
While a home tutor might not have to incur all these expenses but going by the above report, we will need an average of $250,000 to start a medium scale and standard pet sitting cum pet day care center with a vet clinic in the United States of America.
Generating Funding / Startup Capital for Pet Empire®, LLC
Pet Empire®, LLC is a family business that will be owned and manages by Dr. Maxwell O’Connor a qualified veterinary doctor and his immediate family. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 (Personal savings $35,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
It is a known fact that the future of any business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and of course the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Pet Empire®, LLC is to build a business that will survive off its o
wn cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our pet sitting cum pet day care services and pet related business a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Pet Empire®, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Secure a standard facility for the pet sitting cum pet day care center plus reconstruction of the facility: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the school: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In Progress
- Creating Official Website for the business: In Progress
- Creating Awareness for the business in Smethport – Pennsylvania: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress.