By Jessica Brody
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May 1, 2022
Valued at over $60 billion , the pet industry is a lucrative opportunity for anyone looking to start a business. With technological advancements, new local businesses offering pet grooming, training, walking, and sitting services can reach customers, scale operations, and streamline processes. That’s why Nathan the Beach Cat would like to provide you with the following resources to help you with your future pet care business. Background One of the reasons the pet care industry is hot is that more than 35% percent of customers are millennials, who are adopting more pets than previous generations. More than 76% of millennials have adopted pets, and they’re willing to spend to pamper their furry family members. A survey by Mintel showed that 75% of Americans aged 30 to 40 own a dog, compared to just 50% of the overall population who adopted a dog. Among Australians, pet ownership is also extremely high, with almost half of Australian households owning a dog but a sizeable number owning a cat or a fish. This means you can get clients who will serve your business for the long term. Young people with pets also use technology to buy services, giving you an opportunity to explore e-commerce ventures or a subscription-based model with connected devices like pet wearables. What You Need Before venturing into the pet care industry, you need an affinity for animals. Some of the essential skills for pet care you need include knowledge of grooming techniques, an ability to spot behavioural signals, dog handling and training skills, and the ability to recognise health problems. Also, you need to market your business to reach new customers. Integrating technology in the business needs some proficiency in building apps and should work with an expert if you don’t have these skills. If your petcare business is offering a variety of different services, you may want to create a “doing business as” name. A DBA name allows you to sell your products or services under a new name that’s more relevant to your offerings. If you decide to run your business out of your home, you’ll definitely want to have a dedicated office for work. The good news is that certain home improvements have the added benefit of raising your home’s appraisal value, so make sure you keep those receipts! Barriers to Entry The barriers to entry can be low if you want to start a pet care business. Services like pet sitting and walking require little upfront investment, but training, grooming, and boarding will require capital to set up facilities, health and safety certifications, and to get the equipment you need. When you get started, understand that customer turnover could happen quickly, and it might also take a while before you build a loyal base. Also, running a business requires long hours, and you should provide an always-on-call policy. Often, you are required to be available on weekends and holidays as these are the times pet owners are likely to be traveling. Potential for Growth The pet products market size was valued at $9.9 billion in 2018 and is projected to grow at a steady rate of 5.7% up to 2025. This is attributed to rising pet adoptions and humanisation, driving an increase in spending on different pet products, including food, accessories, and grooming items. Throughout the decade ending in 2017, spending on pet care services doubled. This includes services like pet sitting, veterinary services, pet training, etc. All these highlights point to incredible opportunities in the future, showing great potential for growth over the long term. How to Start a Pet Care Business Now that you know the opportunity in the pet care industry, how can you start your business today? Here are the steps to help you set up your business. First, you must decide what you want to be. There are many things to explore, including selling dog care products or offering services like dog walking and grooming. Next, you need a business plan, and to also find a good location. With these ready, figure out your financing plan if you don’t already have the money. Also, you need certifications for pet care. Conclusion With more young people getting pets, there’s a growing market for pet care services. This would be the recommended time to set up a business in this industry. It’s an industry with great future prospects, ideal for anyone with ambitions. Nathan the Beach Cat is the best place for cat-lovers to shop ! Shoot us an email and we'll get back to you as quick as we can: info@nathanthebeachcat.com.au. Photo courtesy of Pexels