Start-up | |
Requirements | |
Start-up Expenses | |
Product Design | $5,000 |
Prototyping | $6,300 |
Patent Fees | $5,000 |
Website Design | $1,000 |
Marketing Materials: Brochures, Banners, Signs, Trade Show Materials | $4,000 |
Advertising | $1,000 |
Fees: Legal, Licensing, Insurance | $2,700 |
Stationery | $300 |
Home Office Interior Improvements | $1,000 |
Home Office Equipment | $1,000 |
Software | $500 |
Miscellaneous purchases | $500 |
Rent | $1,700 |
Expensed Equipment | $1,200 |
Total Start-up Expenses | $31,200 |
Start-up Assets | |
Cash Required | $40,000 |
Start-up Inventory | $1,000 |
Other Current Assets | $0 |
Long-term Assets | $0 |
Total Assets | $41,000 |
Total Requirements | $72,200 |
Tall Drink of Water designs, develops and markets innovative, functional, luxury elevated pet feeders to design professionals, pet care professionals, government agencies and individual pet owners.
The products are divided into two categories, basic models and deluxe models. The basic models are off-the-shelf solutions that have the following features:
Basic models have one feeding platform that includes a water dish and food dish and a base. The small basic model is intended for small dogs and cats, while the medium through extra large sizes are intended for larger dogs. While these products cannot be customized, they can be personalized with pets’ names, pet’s photos or breed likeness.
Deluxe models can be fully customized – the options are limited only by the buyer’s (and their design professional’s) imagination. Some examples of customized options include sizes tailored for individual pets rather than based on average sizes like the basic model. Owners can add multiple platform heights to one unit or multiple water and food dishes in one unit. If purchased through a design professional, the materials, colors and design choices are limitless.
Over the next five years, the company plans to expand the pet feeder line, introduce incremental improvements to existing products and introduce complementary products, based on customer feedback.
All products will be manufactured by vendors using just-in-time (JIT) methods, unless experience determines that it is more efficient to maintain an inventory of basic models.
According an April 2004 American Pet Products Manufacturers Association, Inc. (APPMA) news release, pet owners are projected to spend “$2.2 billion for other [pet] services” in 2004. That’s a small portion of the more than $34 billion they will spend on all classes of pet care and product spending in 2004. The same APPMA news release reports that consumer spending on pet products has doubled from $17 billion to a projected $34 billion since 1994 when the APPMA first began tracking pet industry statistics.
Based on our industry research, we think we have opportunities to attract customers from the following market groups:
The first three groups were selected because they offer growth outside of the “usual” pet products consumer; their favorable opinion of the product may help establish product reliability, brand credibility and influence individual consumer purchases.
The four target market segments selected for this product are design professionals, pet care professionals, government agencies and individual consumers. Each segment is described below and illustrated in following market analysis pie chart.
Design Professionals Interior designers, architects, and landscape architects, were selected as a target market for this product because the deluxe models are intended to be customized to meet pets’ and owners’ needs. Designers who have clients with pets will have access to a solution that is integral to their designs, not an afterthought. The 2000 U.S. Census Occupations report shows 1,926,689 people in architecture and engineering fields, but for the purposes of this plan, we used the numbers reported by professional organizations rather than Census data, because it is more specific and representative of the populations we would have access to:
Pet Care Professionals Veterinarians, breeders, kennels and pet day care centers also need access to a customized solution that works best for their clients. Veterinarians recognize the health benefits of elevated feeders for pet digestive health, as well as for the the joint, muscle and skeletal health of older pets. They also recognize the benefits and pet preference for flowing rather than stagnant water and can offer these products to clients to address those health needs. Breeders, kennels and pet day care centers all may have multiple pet facilities. Some of these facilities cater to high-end clients who want assurance that their existing or future pets are well cared for. Our customized multiple pet units can meet the pet care professionals’ needs for feeding and watering pets and the pet owners’ need to know that their pets are receiving high-quality care.
We used data from the American Veterinary Medical Association and the 2000 U.S. Census for market data for this segment:
Government Agencies Police departments and fire departments use dogs as service animals. They may benefit from a customized, multiple-pet solution. Parks and recreation departments that build and maintain dog runs or dog parks may also benefit from a customized solution. In our research, we have found that New York City area dog runs often have one water dish used by hundreds of dogs throughout the day. We can offer another way for parks and recreation departments to address the need to offer hydration for pets in these locations: multiple height, water-dish-only units.
Market data for this segment was obtained from the 2002 US Government Census report that shows parks and recreation and fire protection departments as special district governments totaling 1,314 and 5,743 respectively, while state and local police agencies in 2000 totalled 17,784. Further research may indicate that this market should be further segmented to focus on New York City agencies to start.
Individual Consumers The largest number of potential buyers for these products are individual consumers. Industry experts estimate that more than 55% of U.S. households own at least one pet cat or dog; many own multiple pets. The 2000 Census reported a total population of 281,421,960; 55% of that number represents our potential individual consumer market, 154,782,078.
We project that the individual consumer segment will grow at a rate of 10% per year, while the commercial market segment, design professionals, pet care professionals and government agencies, is forecasted to grow at a rate of 5% annually.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Individual consumers (1000’s) | 10% | 154,782 | 170,260 | 187,286 | 206,014 | 226,616 | 10.00% |
Government agencies | 5% | 24,841 | 26,083 | 27,387 | 28,756 | 30,194 | 5.00% |
Design professionals | 5% | 104,200 | 109,410 | 114,881 | 120,625 | 126,656 | 5.00% |
Pet care professionals | 5% | 28,320 | 29,736 | 31,223 | 32,784 | 34,423 | 5.00% |
Total | 7.57% | 312,143 | 335,489 | 360,777 | 388,179 | 417,889 | 7.57% |
The initial market focus will be on the commercial market segments: design professionals, pet care professionals and government agencies. Design professionals were selected because they can recommend customized product solutions to existing pet owners as an added value to their new or remodeled home. Pet care professionals can inform, assure and influence pet owners regarding the health benefits of the products for their pets. Government agencies can offer the product as value added to attract visitors to dog runs and dog parks by demonstrating an interest in the health and well-being to pets that visit them. Other government agencies, police and fire departments that use service dogs can benefit from improved feeding and watering for the larger breed dogs typically employed for this kind of service. Together, these market segments were selected to establish product reliability, brand credibility and brand recognition.
Once the products are established in the commercial market segments, the company will introduce them to individual consumers who think of their pets as family, and are style and status conscious.
To support this strategy, we will attend industry trade shows and enter design competitions. This strategy will allow us to form partnerships with people and organizations that can help the company establish the highest level of product performance and customer service.
In an April 2003 news release, the American Pet Products Manufacturers Association (APPMA) forecasted that pet owners would spend $31 billion for the care, feeding, spoiling and pampering of their pets. According to their April 2004 news release, actual spending on pet products in 2003 was $32.4 billion, $1.4 billion more than projected. Industry researchers estimate that the industry will grow between 5% and 15% annually through 2008.
Industry experts also report that the pet products industry is competitive and highly fragmented with no clear brand leadership, and under utilized marketing opportunities. There are opportunities for successful entry to it that we intend to use to our advantage.
We have many competitors in the pet products industry. Direct competitors are designers and manufacturers of elevated pet feeders and complementary products such as pet fountains. In our research, we identified one direct competitor that is publicly traded, OurPet’s Company. Other competitors include, but are not limited to, private companies:
Indirect competitors for pet-related purchases include, but are not limited to, large public pet products corporations:
Large bricks and clicks retailers:
Online and catalog retailers:
Current consumer buying habits for elevated pet feeders are driven primarily by the products’ functionality, elevating pets’ food and water dishes to a level that is healthier for them or providing flowing water, which pets not only prefer, but is also healthier for them, encouraging hydration and reducing microorganism growth that occurs in stagnant water.
Tall Drink of Water’s strategy is to provide high-quality, functional and beautiful products that are environmentally and socially responsible. We want our products to be the standard by which similar products will be measured.
Strategic Assumptions:
Profits will be used for new product development and incremental improvements for existing products, and to expand our marketing and sales efforts to foreign markets.
Our patented designs and technology will be our competitive edge. There are many elevated pet feeders in the market, but ours will be the first* to market with an integrated, elevated fountain and contemporary designs. With patent protection of the elevated feeder with an integrated fountain, we can potentially capture a large share of the market for that class of products. As patent holders of the technology, we could also license it to other manufacturers to increase revenue and have the branding benefit of being “the original” elevated feeder and integrated fountain product.
Another competitive advantage is that our products provide an off-the-shelf solution for owners of large breed dogs like Mastiffs, Newfoundlands and Great Danes that are, on average, about five inches taller than the existing large model elevated feeders on the market. Our products also address the needs of pet owners who live in small, urban apartments and appreciate contemporary design.
* Based on preliminary patent searches on the US Patent and Trademark Office web site.
In the first year of operation, our marketing strategy will be focused on design professionals, pet care professionals and government agencies. Marketing efforts will include trade show participation, design contest entries, and advertising in industry and lifestyle magazines.
In subsequent years, we will expand our marketing efforts to include individual consumers who may be reached through advertising in lifestyle magazines and on cable television, sponsoring dog shows and competitions, and participation in regional pet events.
The company intends to focus its initial sales efforts on commercial clients, design professionals, pet care professionals and government agencies, to establish product reliability and brand recognition for the company without incurring exorbitant advertising costs. This strategy will generate fewer sales, but sales of higher priced items. The owner will identify and work with these prospects directly. Because of the potential complexity of these orders, delivery times will vary, but the consumer will be provided with an estimated delivery time and regular progress updates by e-mail or fax.
Sales to individual consumers will be completed through the company’s website, by phone or fax, through catalogues and third party websites. The owner will work with manufacturers to determine the appropriate delivery schedule for these items, but anticipates being able to offer consumers 5 – 10 business day delivery terms. FedEx will be the preferred shipping vendor.
The company does not have immediate plans to offer products for sale in retail stores, but this decision will be re-evaluated based on consumer feedback and demand.
Order processing, manufacturing, delivery and shipping will be managed using electronic data interchange (EDI) methods to minimize order processing times, facilitate order tracking and optimize customer and vendor information management.
Products will be manufactured by an independent plastics moulder with whom we have contracted. After the prototypes, they will manufacture the standard feeders in batches of 2,000, and coordinate with us to ship directly to consumers to reduce delivery time. Custom orders will require more lead- and manufacturing time, and will be coordinated with their custom-solutions department.
To ensure that we are meeting (and hopefully exceeding) customers’ expectations, consumers will be asked to complete a satisfaction survey regarding the level of service received from the beginning of the sales process to delivery and installation (where applicable), including follow-up and future service needs.
The sales forecast table shows a worst case scenario of forecasted sales for the first three years of operation. During the first year, our focus will be on sales to commercial consumers, design and pet care professionals and government agencies to establish product reliability and brand credibility. Sales may fluctuate seasonally for design and pet care professionals, and based on budgetary cycles for government agencies.
In the second and third years, we will expand our sales strategy to include individual consumers. The basic, off-the-shelf models, developed for high- and moderate-income consumers will be sold on the company’s website, by phone and fax, through catalogs and third party websites. Individual consumer sales may also fluctuate seasonally, but we are estimating flat monthly sales for all market segments with annual sales growth of 10% for 2006 and 2007 based on an average of the low and high end industry expert sales forecasts.
This time table is flexible and can be accelerated based on demand.
Based on current economic indicators, we set the direct cost of sales to increase at a rate of 5% for the first three years of operation. This too is flexible and can be adjusted based on changes in the economy. Cost of sales below includes manufacturing and delivery costs.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Basic small feeder | $0 | $5,000 | $5,750 |
Basic medium feeder | $0 | $10,000 | $11,500 |
Basic large feeder | $0 | $20,000 | $23,000 |
Basic extra large feeder | $0 | $30,000 | $34,500 |
Custom low-end feeder | $40,800 | $44,880 | $49,368 |
Custom medium feeder | $45,000 | $49,500 | $54,450 |
Custom high-end feeder | $58,000 | $63,800 | $70,180 |
Total Sales | $143,800 | $223,180 | $248,748 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Basic small feeder | $0 | $2,050 | $2,358 |
Basic medium feeder | $0 | $4,100 | $4,715 |
Basic large feeder | $0 | $8,200 | $9,430 |
Basic extra large feeder | $0 | $12,300 | $14,145 |
Custom low-end feeder | $17,000 | $17,325 | $18,191 |
Custom medium feeder | $11,400 | $11,970 | $12,569 |
Custom high-end feeder | $11,200 | $11,200 | $11,200 |
Subtotal Direct Cost of Sales | $39,600 | $67,145 | $72,607 |
The accompanying table lists milestones for our start up goals and budgets for each. Tonya McClendon will be the manager in charge of each milestone, consultants will be used for many functions. The milestone schedule shows our emphasis on planning for design, development and market introduction.
Additional milestone tables will be created for future marketing and sales planning.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Utility patent drawings | 10/1/2004 | 11/1/2004 | $2,500 | TLM | Consultant |
Design patent drawings | 10/1/2004 | 11/1/2004 | $2,500 | TLM | Consultant |
Business licenses | 11/1/2004 | 12/15/2004 | $250 | TLM | Admin |
Prototype development | 11/15/2004 | 12/15/2004 | $6,300 | TLM | Consultant |
Incorporation | 10/1/2004 | 1/1/2005 | $250 | TLM | Admin |
Branding | 1/15/2005 | 2/15/2005 | $4,000 | TLM | Consultant |
Website design | 2/20/2005 | 4/15/2005 | $1,000 | TLM | Consultant |
Print advertising campaign development | 3/15/2005 | 4/15/2005 | $1,000 | TLM | Consultant |
Trade show entry applications | 10/1/2004 | 5/15/2005 | $750 | TLM | Marketing |
Design competition application | 10/1/2004 | 5/15/2005 | $750 | TLM | Marketing |
Totals | $19,300 |
Tall Drink of Water’s website will be the virtual storefront for consumers interested in:
Initially, the website will provide information and direct commercial customers to phone and mail purchasing options. In years two and three we will add e-commerce capabilities to serve our individual consumers.
Marketing an Internet retail business depends on brand recognition and the consumer’s ability to find the business easily. Our strategy includes:
Tall Drink of Water’s website will be developed and maintained by consultants with the ability to measure, analyze and report site activity as well as make recommendations for improvements. website usability testing will be conducted throughout the design process to ensure that the site is both useful and usable to consumers.
The site will be hosted by an Internet Service Provider (ISP) that is reliable, has the ability to grow with our business and that supports electronic data interchange (EDI). It will be imperative for our website to function as consumers expect to reinforce the brand’s credibility and reliability.
Tonya McClendon will be the principal owner and operator of Tall Drink of Water Ms. McClendon has managerial, operational and technical experience in financial services, management consulting, food service, architecture and landscape architecture, and Olympic planning. She has a strong customer service and sales foundation and is comfortable working in environments ranging from small family businesses to Fortune 500 corporations. She has a Bachelor of Arts in Psychology, is studying to become a Certified Usability Analyst (CUA) and is working toward an MBA in Global Management.
Ms. McClendon has a passion for pets, architecture, interior and industrial design. She is looking forward to offering beautiful products of exceptional quality to pets and the people who love them.
Tall Drink of Water will initially have one full-time employee, the owner, Tonya McClendon. In the first seven months, Tonya will be responsible for all aspects of the business, from design, to coordinating with the contracted manufacturer, to taking orders and performing customer service. As part of our initial marketing campaign, Tonya will spend a great deal of time in the first few months demonstrating the feeders at pet care trade shows and liaising with government officials and design professionals.
Once sales begin to climb, we will hire a second person to take over inventory and office management. This person will coordinate orders and deliveries, pay bills, and provide back-up customer service coverage. In the second and third years we plan to hire a part-time sales representative to expand our commercial sales nationally.
The personnel plan will be evaluated regularly and, as growth requires it, a detailed personnel plan will be developed based on business needs with guidance from the Occupational Outlook Handbook and staffing agencies.
Our website, marketing and trade show activities are being undertaken under the advice of independently contracted consultants familiar with the pet-care industry.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
TL McClendon | $28,800 | $32,000 | $37,000 |
Part-time Sales Rep | $0 | $10,000 | $13,000 |
Inventory/Office Mgmt. | $10,425 | $28,000 | $30,000 |
Total People | 2 | 3 | 3 |
Total Payroll | $39,225 | $70,000 | $80,000 |
We expect sales growth will be slow to moderate, and that cash flows will be steady with annual sales projected to equal $143,800, $223,180 and $248,748 for the years 2005 – 2007.
Once the company reaches a sufficient level of profitability and accumulates a cash reserve, it plans to invest 50% of profits in research and development of new products, existing product and operational improvements, and to expand marketing and sales efforts to foreign markets. 38% of profits will be invested in low risk financial instruments. 10% of profits will be used for employee bonuses. 1% of profits will be used to support non-profit organizations that support the health and welfare of women in the United States. The remaining 1% will be used to support non-profit organizations that promote the health and welfare of pets in the United States. These expenses will be itemized in the later years of the business plans.
In the event that the company does not earn a profit, additional funds will be sought to finance research and development (R&D) activities. 100% of funding obtained during break-even or loss periods will be used for R&D, while the investment in financial instruments, employee bonuses and charitable giving activities will be foregone.
The general assumptions for this plan are shown in the following table.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The following break-even analysis table and chart show that with average estimated monthly fixed cost of $7,325 and a 28% variable cost, the company needs to generate approximately $10,000 in sales to break even.
Break-even Analysis | |
Monthly Revenue Break-even | $9,438 |
Assumptions: | |
Average Percent Variable Cost | 28% |
Estimated Monthly Fixed Cost | $6,839 |
We will operate at a profit beginning in the first year based on our worst case sales forecasts. Though we project that we will operate at a loss for the first six months, we will make up for the losses in the second half of 2005 to break even for the year. We also anticipate earning a profit in subsequent years. These projections are conservatively based on solid market research and initial responses from local pet care professionals.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $143,800 | $223,180 | $248,748 |
Direct Cost of Sales | $39,600 | $67,145 | $72,607 |
Other Costs of Goods | $0 | $0 | $0 |
Total Cost of Sales | $39,600 | $67,145 | $72,607 |
Gross Margin | $104,200 | $156,035 | $176,141 |
Gross Margin % | 72.46% | 69.91% | 70.81% |
Expenses | |||
Payroll | $39,225 | $70,000 | $80,000 |
Sales and Marketing and Other Expenses | $5,000 | $5,000 | $5,000 |
Depreciation | $0 | $0 | $0 |
Rent | $20,400 | $20,400 | $20,400 |
Utilities | $2,400 | $2,400 | $2,400 |
Insurance | $238 | $238 | $238 |
Payroll Taxes | $0 | $0 | $0 |
Web site management | $6,400 | $12,000 | $15,000 |
Business travel | $6,000 | $8,000 | $10,000 |
Miscellaneous | $2,400 | $3,000 | $5,000 |
Total Operating Expenses | $82,063 | $121,038 | $138,038 |
Profit Before Interest and Taxes | $22,137 | $34,997 | $38,103 |
EBITDA | $22,137 | $34,997 | $38,103 |
Interest Expense | $4,461 | $3,506 | $2,510 |
Taxes Incurred | $5,303 | $9,447 | $10,678 |
Net Profit | $12,374 | $22,044 | $24,915 |
Net Profit/Sales | 8.60% | 9.88% | 10.02% |
The cash flow table shows that cash flow for our worst case sales scenario (i.e., slow sales for the first three years) provides steady cash balance increases. Once the loan is fully repaid, the cash balance should provide a cushion for future expenses.
The cash flow chart shows monthly projections for 2005.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $35,950 | $55,795 | $62,187 |
Cash from Receivables | $46,790 | $133,679 | $175,704 |
Subtotal Cash from Operations | $82,740 | $189,474 | $237,891 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $75,000 | $0 | $0 |
Subtotal Cash Received | $157,740 | $189,474 | $237,891 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $39,225 | $70,000 | $80,000 |
Bill Payments | $78,089 | $155,278 | $145,235 |
Subtotal Spent on Operations | $117,314 | $225,278 | $225,235 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $9,960 | $9,960 | $9,960 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $127,274 | $235,238 | $235,195 |
Net Cash Flow | $30,466 | ($45,764) | $2,696 |
Cash Balance | $70,466 | $24,702 | $27,398 |
Our projected balance sheet is shown in the following table. Monthly projections are shown in the appendix. The Balance Sheet, even with these conservative forecasts, shows a steadily increasing net worth.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $70,466 | $24,702 | $27,398 |
Accounts Receivable | $61,060 | $94,766 | $105,623 |
Inventory | $13,310 | $22,568 | $24,404 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $144,836 | $142,037 | $157,425 |
Long-term Assets | |||
Long-term Assets | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 |
Total Assets | $144,836 | $142,037 | $157,425 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $26,422 | $11,539 | $11,973 |
Current Borrowing | $40,040 | $30,080 | $20,120 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $66,462 | $41,619 | $32,093 |
Long-term Liabilities | $0 | $0 | $0 |
Total Liabilities | $66,462 | $41,619 | $32,093 |
Paid-in Capital | $97,200 | $97,200 | $97,200 |
Retained Earnings | ($31,200) | ($18,826) | $3,217 |
Earnings | $12,374 | $22,044 | $24,915 |
Total Capital | $78,374 | $100,417 | $125,332 |
Total Liabilities and Capital | $144,836 | $142,037 | $157,425 |
Net Worth | $78,374 | $100,417 | $125,332 |
The following table outlines some of the more important ratios from the Pet Supplies industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 5999.1103.
Our asset ratios differ from the industry standard for two reasons:
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 55.20% | 11.46% | 1.08% |
Percent of Total Assets | ||||
Accounts Receivable | 42.16% | 66.72% | 67.09% | 22.01% |
Inventory | 9.19% | 15.89% | 15.50% | 18.65% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 36.34% |
Total Current Assets | 100.00% | 100.00% | 100.00% | 77.00% |
Long-term Assets | 0.00% | 0.00% | 0.00% | 23.00% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 45.89% | 29.30% | 20.39% | 27.21% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 18.98% |
Total Liabilities | 45.89% | 29.30% | 20.39% | 46.19% |
Net Worth | 54.11% | 70.70% | 79.61% | 53.81% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 72.46% | 69.91% | 70.81% | 38.34% |
Selling, General & Administrative Expenses | 49.91% | 49.23% | 49.60% | 15.66% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 1.52% |
Profit Before Interest and Taxes | 15.39% | 15.68% | 15.32% | 3.70% |
Main Ratios | ||||
Current | 2.18 | 3.41 | 4.91 | 1.83 |
Quick | 1.98 | 2.87 | 4.14 | 1.01 |
Total Debt to Total Assets | 45.89% | 29.30% | 20.39% | 58.09% |
Pre-tax Return on Net Worth | 22.55% | 31.36% | 28.40% | 3.95% |
Pre-tax Return on Assets | 12.20% | 22.17% | 22.61% | 9.42% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 8.60% | 9.88% | 10.02% | n.a |
Return on Equity | 15.79% | 21.95% | 19.88% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 1.77 | 1.77 | 1.77 | n.a |
Collection Days | 50 | 170 | 196 | n.a |
Inventory Turnover | 8.74 | 3.74 | 3.09 | n.a |
Accounts Payable Turnover | 3.96 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 49 | 29 | n.a |
Total Asset Turnover | 0.99 | 1.57 | 1.58 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.85 | 0.41 | 0.26 | n.a |
Current Liab. to Liab. | 1.00 | 1.00 | 1.00 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $78,374 | $100,417 | $125,332 | n.a |
Interest Coverage | 4.96 | 9.98 | 15.18 | n.a |
Additional Ratios | ||||
Assets to Sales | 1.01 | 0.64 | 0.63 | n.a |
Current Debt/Total Assets | 46% | 29% | 20% | n.a |
Acid Test | 1.06 | 0.59 | 0.85 | n.a |
Sales/Net Worth | 1.83 | 2.22 | 1.98 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Basic small feeder | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Basic medium feeder | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Basic large feeder | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Basic extra large feeder | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Custom low-end feeder | 0% | $0 | $0 | $0 | $0 | $1,200 | $1,200 | $2,400 | $1,200 | $4,800 | $8,400 | $9,600 | $12,000 |
Custom medium feeder | 0% | $0 | $0 | $0 | $0 | $0 | $2,500 | $2,500 | $7,500 | $2,500 | $5,000 | $10,000 | $15,000 |
Custom high-end feeder | 0% | $0 | $0 | $0 | $0 | $0 | $4,000 | $8,000 | $4,000 | $4,000 | $2,000 | $16,000 | $20,000 |
Total Sales | $0 | $0 | $0 | $0 | $1,200 | $7,700 | $12,900 | $12,700 | $11,300 | $15,400 | $35,600 | $47,000 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Basic small feeder | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Basic medium feeder | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Basic large feeder | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Basic extra large feeder | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Custom low-end feeder | $0 | $0 | $0 | $0 | $500 | $500 | $1,000 | $500 | $2,000 | $3,500 | $4,000 | $5,000 | |
Custom medium feeder | $0 | $0 | $0 | $0 | $0 | $600 | $1,200 | $1,800 | $600 | $1,200 | $2,400 | $3,600 | |
Custom high-end feeder | $0 | $0 | $0 | $0 | $0 | $700 | $1,400 | $700 | $700 | $1,400 | $2,800 | $3,500 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $500 | $1,800 | $3,600 | $3,000 | $3,300 | $6,100 | $9,200 | $12,100 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
TL McClendon | 0% | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
Part-time Sales Rep | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Inventory/Office Mgmt. | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2,085 | $2,085 | $2,085 | $2,085 | $2,085 |
Total People | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | |
Total Payroll | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $4,485 | $4,485 | $4,485 | $4,485 | $4,485 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $0 | $0 | $0 | $0 | $1,200 | $7,700 | $12,900 | $12,700 | $11,300 | $15,400 | $35,600 | $47,000 | |
Direct Cost of Sales | $0 | $0 | $0 | $0 | $500 | $1,800 | $3,600 | $3,000 | $3,300 | $6,100 | $9,200 | $12,100 | |
Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $0 | $500 | $1,800 | $3,600 | $3,000 | $3,300 | $6,100 | $9,200 | $12,100 | |
Gross Margin | $0 | $0 | $0 | $0 | $700 | $5,900 | $9,300 | $9,700 | $8,000 | $9,300 | $26,400 | $34,900 | |
Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 58.33% | 76.62% | 72.09% | 76.38% | 70.80% | 60.39% | 74.16% | 74.26% | |
Expenses | |||||||||||||
Payroll | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $4,485 | $4,485 | $4,485 | $4,485 | $4,485 | |
Sales and Marketing and Other Expenses | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Rent | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | $1,700 | |
Utilities | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Insurance | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | $20 | |
Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Web site management | $0 | $0 | $0 | $0 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | $800 | |
Business travel | 15% | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 |
Miscellaneous | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Total Operating Expenses | $5,437 | $5,437 | $5,437 | $5,437 | $6,237 | $6,237 | $6,237 | $8,322 | $8,322 | $8,322 | $8,322 | $8,322 | |
Profit Before Interest and Taxes | ($5,437) | ($5,437) | ($5,437) | ($5,437) | ($5,537) | ($337) | $3,064 | $1,379 | ($322) | $979 | $18,079 | $26,579 | |
EBITDA | ($5,437) | ($5,437) | ($5,437) | ($5,437) | ($5,537) | ($337) | $3,064 | $1,379 | ($322) | $979 | $18,079 | $26,579 | |
Interest Expense | $410 | $403 | $396 | $389 | $382 | $375 | $368 | $361 | $354 | $348 | $341 | $334 | |
Taxes Incurred | ($1,754) | ($1,752) | ($1,750) | ($1,748) | ($1,776) | ($214) | $809 | $305 | ($203) | $189 | $5,321 | $7,873 | |
Net Profit | ($4,092) | ($4,088) | ($4,083) | ($4,078) | ($4,143) | ($498) | $1,887 | $712 | ($473) | $442 | $12,417 | $18,371 | |
Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | -345.25% | -6.47% | 14.63% | 5.61% | -4.19% | 2.87% | 34.88% | 39.09% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $0 | $0 | $0 | $300 | $1,925 | $3,225 | $3,175 | $2,825 | $3,850 | $8,900 | $11,750 | |
Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $30 | $1,063 | $5,905 | $9,670 | $9,490 | $8,578 | $12,055 | |
Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $300 | $1,955 | $4,288 | $9,080 | $12,495 | $13,340 | $17,478 | $23,805 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $50,000 | $0 | $0 | $0 | $25,000 | $0 | $0 | $0 | |
Subtotal Cash Received | $0 | $0 | $0 | $0 | $50,300 | $1,955 | $4,288 | $9,080 | $37,495 | $13,340 | $17,478 | $23,805 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 | $4,485 | $4,485 | $4,485 | $4,485 | $4,485 | |
Bill Payments | $56 | $1,692 | $1,687 | $1,683 | $1,803 | $5,495 | $7,032 | $7,996 | $7,486 | $7,201 | $13,674 | $22,283 | |
Subtotal Spent on Operations | $2,456 | $4,092 | $4,087 | $4,083 | $4,203 | $7,895 | $9,432 | $12,481 | $11,971 | $11,686 | $18,159 | $26,768 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $830 | $830 | $830 | $830 | $830 | $830 | $830 | $830 | $830 | $830 | $830 | $830 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $3,286 | $4,922 | $4,917 | $4,913 | $5,033 | $8,725 | $10,262 | $13,311 | $12,801 | $12,516 | $18,989 | $27,598 | |
Net Cash Flow | ($3,286) | ($4,922) | ($4,917) | ($4,913) | $45,267 | ($6,770) | ($5,975) | ($4,231) | $24,694 | $824 | ($1,512) | ($3,793) | |
Cash Balance | $36,714 | $31,791 | $26,874 | $21,961 | $67,228 | $60,458 | $54,484 | $50,252 | $74,947 | $75,770 | $74,259 | $70,466 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $40,000 | $36,714 | $31,791 | $26,874 | $21,961 | $67,228 | $60,458 | $54,484 | $50,252 | $74,947 | $75,770 | $74,259 | $70,466 |
Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $900 | $6,645 | $15,258 | $18,878 | $17,683 | $19,743 | $37,865 | $61,060 |
Inventory | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $3,500 | $4,700 | $4,100 | $4,100 | $3,800 | $6,710 | $10,120 | $13,310 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $41,000 | $37,714 | $32,791 | $27,874 | $22,961 | $71,628 | $71,803 | $73,841 | $73,230 | $96,429 | $102,223 | $122,244 | $144,836 |
Long-term Assets | |||||||||||||
Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Accumulated Depreciation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Assets | $41,000 | $37,714 | $32,791 | $27,874 | $22,961 | $71,628 | $71,803 | $73,841 | $73,230 | $96,429 | $102,223 | $122,244 | $144,836 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $1,636 | $1,631 | $1,627 | $1,622 | $5,262 | $6,765 | $7,746 | $7,253 | $6,755 | $12,937 | $21,372 | $26,422 |
Current Borrowing | $50,000 | $49,170 | $48,340 | $47,510 | $46,680 | $45,850 | $45,020 | $44,190 | $43,360 | $42,530 | $41,700 | $40,870 | $40,040 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $50,000 | $50,806 | $49,971 | $49,137 | $48,302 | $51,112 | $51,785 | $51,936 | $50,613 | $49,285 | $54,637 | $62,242 | $66,462 |
Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Liabilities | $50,000 | $50,806 | $49,971 | $49,137 | $48,302 | $51,112 | $51,785 | $51,936 | $50,613 | $49,285 | $54,637 | $62,242 | $66,462 |
Paid-in Capital | $22,200 | $22,200 | $22,200 | $22,200 | $22,200 | $72,200 | $72,200 | $72,200 | $72,200 | $97,200 | $97,200 | $97,200 | $97,200 |
Retained Earnings | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) | ($31,200) |
Earnings | $0 | ($4,092) | ($8,180) | ($12,263) | ($16,340) | ($20,483) | ($20,982) | ($19,095) | ($18,383) | ($18,856) | ($18,414) | ($5,998) | $12,374 |
Total Capital | ($9,000) | ($13,092) | ($17,180) | ($21,263) | ($25,340) | $20,517 | $20,018 | $21,905 | $22,617 | $47,144 | $47,586 | $60,002 | $78,374 |
Total Liabilities and Capital | $41,000 | $37,714 | $32,791 | $27,874 | $22,961 | $71,628 | $71,803 | $73,841 | $73,230 | $96,429 | $102,223 | $122,244 | $144,836 |
Net Worth | ($9,000) | ($13,092) | ($17,180) | ($21,263) | ($25,340) | $20,517 | $20,018 | $21,905 | $22,617 | $47,144 | $47,586 | $60,002 | $78,374 |
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February 2022
The family pet can bring untold amounts of joy into our lives with their unending affection, playfulness, and unconditional love. Loving them back is a pet parent’s easiest responsibility. Leveraging a pet store business plan can help you provide the products and services that loving pet owners want and need for their pets.
Download this Pet store business plan template article here
Investing in a Pet Evolution franchise could be an opportunity to help other pet owners love their pets just a little more with the healthiest pet products, supplies, and grooming services. Pet Evolution franchise opportunities can help you connect your passion for animals with your business savvy, and your business plan pet store could grow more easily when it’s the right opportunity.
Our Pet Evolution business development team has done much of the hard work for our franchise owners. We’re searching for animal lovers with an eye for business to become part of the Pet Evolution family and open new locations around the country.
The initial pet franchise costs for a single-unit range from $424,500 to $598,550, which includes a $49,000 franchise fee. Once the agreement is in place, the development team can begin helping you build and execute your Pet Evolution pet store business plan.
We offer expert guidance on selecting your store locations, and our support includes assistance during the construction/renovation phase. We also help take the guesswork out of each store’s equipment, signage, and initial inventory processes for a smooth opening.
Our comprehensive five-day training in our headquarters location in Woodbury, MN kicks off training on Pet Evolution products, services, and operating practices. From there, we assist with on-site continued training through the Pet Evolution location’s grand opening.
After your Pet Evolution pet store business plan is put into action, we maintain our support with ongoing training for new products and services. We visit your Pet Evolution location to aid in operations, strategic marketing for your local area, facilities maintenance, and financial guidance.
We vet all the Pet Evolution vendors for approved supplies and equipment, from your inventory to your uniforms. You also have access to our confidential operations manual at all times to help with key procedures, inventory management, customer service, and more.
The Pet Evolution development team offers technological solutions to assist you with inventory tracking, scheduling and payroll, point-of-sale systems, accounting, and security. You’ll also receive marketing support—including help with your website presence for online sales—to properly advertise in your local community and connect with your target market: people who love their pets and want to give them the best life.
Opening a business in the pet care industry can be a smart investment. Pet owners spent more than $100 billion on their furry family members in 2020. $42 billion of that went to pet food and treats, while $22.1 billion was spent on supplies. Grooming services were a portion of an $8 billion category of pet spending for services unrelated to veterinary care.
These numbers can all be part of your pet store business plan’s market analysis, including target demographics, and the products and services you offer.
Pet Evolution has done this work for our owners thanks to our founders, Rian and Mike. The pair grew up loving animals who struggled with chronic ear infections, allergies, and multiple vet visits.
When they determined that high-quality food could have a positive impact on pet health, Rian and Mike set out to create a place where pet lovers could find best-in-class products, services, and top-level customer service from professionals who were as passionate about animals as they are.
Pet Evolution is determined to change the landscape of the pet food industry by offering nutritious, high-quality food that contains no corn, wheat, soy, animal by-products, or artificial colors and flavors. Pet Evolution’s pet store business plan revolves around this philosophy for giving animals the kind of nutritious, wholesome food that helps them thrive.
Nutrition isn’t the only aspect of pet care that enriches our animals’ lives. Part of your Pet Evolution pet store business plan includes up-to-date grooming techniques performed by certified groomers, a mobile nail trimming service to care for pets’ paws at home, and self-service dog washing stations that aim to give pet parents everything they need to safely and comfortably bathe their animal without a lot of fuss. This focus on pet enrichment can help our pet store business plan work for our owners.
We also stand out with our online pet store business plan, because pet owners are increasingly buying their pet supplies online. Pet Evolution helps make it easy for our customers to find nutrition and safety information and place their orders for maximum convenience.
The Pet Evolution Pet store business plan also includes in-depth financial data to analyze operational costs, minimize overhead, and conduct store business for maximum efficiency while serving customers with everything they’ve come to expect from our brand.
Using past experience from our existing Pet Evolution locations, we can steer you past common startup pitfalls and help you avoid the pain points we’ve already overcome. We train you to cover all aspects of how your Pet Evolution franchise location will operate, from operating procedures to marketing promotions, to community outreach programs.
At Pet Evolution, we’ve developed a plan to help prospective owners join our team and get involved in the dynamic and growing animal care and supplies industry. With our focus on enriching the lives of pets and their owners, your passion for animals can translate into a fantastic investment opportunity.
Contact us today!
Looking for a pet business plan template and guidebook that will help you start or grow your pet-related business? This comprehensive resource provides everything you need to know about creating a solid business plan for success in the pet industry. With easy-to-follow step-by-step instructions, The #1 Pet Business Plan Template & Guidebook will help you create a solid plan that will give your pet business the edge it needs to succeed. Learn more about the tools, tips, and techniques included in this essential guidebook today!
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1. describe the purpose of your pet business..
The first step to writing your business plan is to describe the purpose of your pet business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.
It also helps to include a vision statement so that readers can understand what type of company you want to build.
Here is an example of a purpose mission statement for a pet business:
Our mission at [Pet business] is to provide quality pet care products, services and solutions that support the health and wellbeing of pets and the people who love them. We strive to be a leader in the pet care industry, providing innovative solutions that keep pets healthy and happy while educating pet owners on proper pet care practices.
The next step is to outline your products and services for your pet business.
When you think about the products and services that you offer, it's helpful to ask yourself the following questions:
You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.
If you don't have a marketing plan for your pet business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.
A good marketing plan for your pet business includes the following elements:
Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.
In it, you should list:
The second part of your pet business plan is to develop a management and organization section.
This section will cover all of the following:
This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.
Typically, expenses for your business can be broken into a few basic categories:
Startup Costs
Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a pet business varies based on many different variables, but below are a few different types of startup costs for a pet business.
Running & Operating Costs
Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.
Marketing & Sales Expenses
You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your pet business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.
A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your pet business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.
Here are some steps you can follow to devise a financial plan for your pet business plan:
Why do you need a business plan for a pet business.
A business plan is an essential tool for any business, including a pet business, as it outlines the goals and objectives for the business and provides a roadmap for success. It can help in obtaining financing and in organizing operations, and it also serves as a useful reference document as the business grows and evolves. A well-crafted business plan helps identify potential risks and opportunities, as well as analyze market conditions, pricing strategies, and other key factors that can influence the success of the business.
You should consult a professional business consultant or an accountant who specializes in pet businesses. Additionally, you can reach out to other pet business owners and solicit their advice. They may be able to provide helpful tips and strategies that could be adapted for your business plan.
Yes, it is possible to write a pet business plan yourself. Writing a business plan for any type of business can be done with the help of several resources available online, such as guides, templates and free software. A pet business plan should include an executive summary, products and services offered, market analysis, financial forecasts, operational plans, and marketing plans. Additionally, it is important to research the competition in your area and understand the needs of your target customers.
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Our team at Alisal Pet Clinic provides a high level of veterinary care to the Pleasanton community. Our level of care is maintained by the state of the art diagnostic equipment and highly-trained staff utilized to treat your furry loved one. Some of the services we provide include:
We recommend that you bring your pet in for a yearly check-up. This will enable us to determine if your dog or cat is healthy and will detect hidden diseases or abnormal conditions early.
For our senior pets, we recommend blood work and urinalysis to be more proactive and to enable us to address problems early. Since most cats and dogs suffer from arthritis in their later years, detecting this problem and managing it properly make them happy and enable them to live comfortably. It is our goal to help your pet live a long, happy life.
Learn more about our adult pet wellness plans and see which is right for your pet!
Having your puppy examined as early as possible is vital in determining your puppy’s health. On your initial visit, we ask that you bring a fresh stool (fecal) sample so we can check for intestinal parasites. We offer a Puppy Package that covers all necessary vaccines and a fecal examination.
Core Vaccines
For new puppies, vaccinations will need the following boosters
After 1 year from booster, it is recommended that these vaccines are updated on an annual basis.
Determine your kitty’s health as early as possible. We offer a Kitten Package that covers the core vaccines for the kitten’s first year of life and a fecal examination.
Core Vaccines
For new kittens, vaccinations will need the following boosters
Professional teeth cleaning under general anesthesia is recommended once a year or once every 2 years if regular brushing is done at home. The more often you keep up on anesthetic dental cleanings, the less chance your pet will need extractions in the future, and their risk of periodontal disease decreases. These teeth cleanings are vital to prevent heart disease in pets!
All dental cleanings include scale, polish, and seal on the teeth, and constant IV fluids and vital monitoring to ensure your pet is safe through the entire procedure. While under anesthesia, your pet may be given a complimentary toenail trim, anal sac expression, and you can even add microchipping as well. It is a great option for your pet to have all of these services cared for while they are already under!
Keep in mind your pet should have no food or water after 9 pm the night before any procedure requiring anesthesia, including dental cleaning.
Fleas are a common problem here in California. It is one of the most common causes of skin disease and internal parasites such as tapeworms. They are very difficult to eliminate, and sometimes Capstar or a flea bath may be required to completely rid your pet of the flea infestation. Environmental treatment will ensure that the fleas are removed as quickly as possible and do not return to your pet. Flea eggs can remain dormant for 7 months and may come out in the ideal environment for them.
Monthly use of flea products as prevention and treatment is highly recommended. We carry both topical and oral flea treatments in our pharmacy.
A heartworm test is recommended annually. Several oral heartworm medications are available at our pharmacy to prevent heartworms. Before any heartworm preventative is given, it is required to test to make sure your pet is negative for heartworm.
*Intestinal parasites left untreated are very dangerous and can even be deadly to puppies or kittens. They should be addressed as soon as possible.
The most common laboratory testing we provide is blood work which can identify certain blood diseases, infections, kidney and liver diseases, and some hormonal abnormalities. We have an in-house blood machine and use an external laboratory service as well.
We also can perform the following lab services and tests:
If detected early enough, many conditions can be improved or treated with a new diet plan for your pet. This is why lab testing is so important in the diagnostic process.
We perform soft tissue surgery in our clinic. We also provide:
In more complicated cases, we have a Board Certified Surgeon come to the clinic or we can refer you to a veterinary surgical facility.
If your pet is already under for another procedure and is not yet microchipped, we would recommend adding a microchip while they are under. This allows your pet to be microchipped while also avoiding any discomfort of the microchip implantation. You can also have your pet’s nails trimmed and anal sac expressed while they are under.
Please keep in mind your pet should have no food or water after 9 pm the night before any procedure requiring anesthesia.
Pain management, especially for post-surgical patients and senior patients, is a major concern for most pet owners. We try to customize treatment options, especially for our geriatric patients.
The goal of pain management is always to keep your pet as comfortable and happy as possible.
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Day of the Week | Hours |
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Monday | 8:00 AM - 6:00 PM |
Tuesday | 8:00 AM - 6:00 PM |
Wednesday | 8:00 AM - 6:00 PM |
Thursday | 8:00 AM - 6:00 PM |
Friday | 8:00 AM - 6:00 PM |
Saturday | 8:00 AM - 6:00 PM |
Sunday | 9:00 AM - 6:00 PM |
Day of the Week | Hours |
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Monday | 9:00 AM - 9:00 PM |
Tuesday | 9:00 AM - 9:00 PM |
Wednesday | 9:00 AM - 9:00 PM |
Thursday | 9:00 AM - 9:00 PM |
Friday | 9:00 AM - 9:00 PM |
Saturday | 2:30 PM - 6:00 PM |
Sunday | 10:00 AM - 7:00 PM |
Day of the Week | Hours |
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Monday | 9:00 AM - 9:00 PM |
Tuesday | 9:00 AM - 9:00 PM |
Wednesday | 9:00 AM - 9:00 PM |
Thursday | 9:00 AM - 9:00 PM |
Friday | 9:00 AM - 9:00 PM |
Saturday | 9:00 AM - 9:00 PM |
Sunday | 10:00 AM - 7:00 PM |
Shop by pet category.
What your pet needs, when they need it..
We understand the unique bond between pets and their owners, and we're here to offer full-service dog grooming by professionals, our aquatics department for a vast range of fish and aquarium supplies, and our expert dog trainers who are always on hand to help. Shop with your pet for essentials like food, beds, crates and bowls or for fun dog toys or cat scratchers. Visit us and let our experts guide you in every step of your pet journey.
Reptiles can make great pets from the aquatic turtles to the sun-loving snakes. Shop your Petco store to find reptiles for sale to add to your family. Our variety of pet reptiles include snakes , lizards , turtles and tortoises , frogs and toads , hermit crabs and invertebrates . Selection can vary based on location, call to confirm availability. Once you have selected your pet reptile, begin assembling the perfect habitat for their species. Shop the reptile supply aisles for everything your new pet will need including a terrarium and tank , food , substrate , hideaways and more.
Visit your Petco store to view our freshwater fish available. Our vast selection of freshwater aquarium fish varies on what species are in store by location, contact your store for species availability. Our freshwater aquarium fish selection includes, but is not limited to Barbs , Bettas , Cichlid , Catfish , Danios and Minnows , Goldfish , Tetras and Sharks . At each Petco Aquatics Department, educated Petco partners are available to answer questions about the fish for sale, care required and essential supplies .
Our Aquatics Department is equipped to sell saltwater fish and provide everything you need to care for your pet. Educated Petco partners are available to answer questions regarding the saltwater fish available for sale, care required and essential saltwater fish supplies . Remember, the saltwater fish for sale varies by store, contact or stop in at your neighborhood Petco store to confirm species availability. Our vast selection of saltwater aquarium fish includes, but is not limited to Anthias , Butterflyfish , Clownfish , Lionfish , Pufferfish , Tangs and Surgeonfish .
Shop for tasty meals for your pet reptile . Your Petco store carries a variety of menu options to satisfy your pet's hunger with nutrient dense foods. A balanced diet for your reptile can include, but not limited to, live crickets , mealworms and flies to frozen mice to dry reptile food . Our selection of reptile food can vary by store, contact your store to confirm availability.
Browse our selection of small pets for sale as the perfect addition to your family. Our small pet options include ferrets , mice , rats , hamsters , chinchillas and guinea pigs . The small animals we have in store will vary by location, contact your Petco store for availability. Consult your local veterinarian to make sure you and your family are ready to love and care for the new family member. Once you have decided which small pet to bring home, set up a habitat designed specifically for that species. Petco also carries everything you need to provide the perfect habitat for your new small pet including cages , feeders , tunnels , bedding and more. Refer to our Care Sheets on proper care of your new small pet.
Peruse the selection of birds for sale at your Petco. Our pet birds for sale include cockatiels , parakeets , conures and finches . Each Petco location varies on what species are in store, please contact your Petco store for availability. Learn more about each species of bird to determine which will make the best addition to your family from our live bird care sheets . Petco is your local bird store carrying essential supplies you need to provide your pet birds a habitat that can help keep them happy and healthy. Shop our bird cages , food , toys and more.
Our store hours are:
Hours might vary on holidays; please call ahead ((408) 423-9110) to confirm.
Certainly! We offer a Buy Online, Pick Up In-Store option. Just select the Santa Clara store location during checkout on our website.
Yes, we have an in-store vet clinic/animal hospital offering a variety of services including vaccinations, wellness exams, and more. Please call (408) 423-9110 .
Most products can be returned within 30 days of purchase with a receipt. There are exceptions for certain products and live animals; please consult with our store associates for specifics.
We offer a selection of small animals, reptiles, fish, and birds for sale. For dogs and cats, we regularly host adoption events in partnership with local shelters. Please call (408) 423-9110 for live pet inquiries.
Our promotions vary throughout the year. You can check our website, in-store signage, or sign up for our newsletter to stay updated on current deals.
Our stores are partnered with Rover with whom provides: pet sitting, boarding and walking services.
We're always on the lookout for passionate pet lovers to join our team. You can check current openings and apply online or inquire in-store. Or Call (408) 423-9110
Yes, we provide dog training classes for all levels, from puppy basics to advanced training. Please call (408) 423-9110
Yes, we have a full-service grooming salon for dogs and cats. Appointments are recommended, but walk-ins are welcome based on availability. Please call (408) 423-9110 to inquire about appointments or grooming services available.
Yes, Petco Santa Clara provides vaccinations.
Yes, curbside pickup is available at Petco Santa Clara. All of our products that are eligible for store pickup will show this option on the product's detail page.
Hamster and guinea pig prices vary by location. Call your Santa Clara Petco at (408) 423-9110 to check for pricing and availabilty in your store. Or visit our companion animal website for more information on small companion animals.
No, Santa Clara Petco does not sell dogs or cats. However, with the Petco Love program partnered with local animal welfare organizations, you have the opportunity to meet dogs and cats available for adoption at your neighborhood Petco store.
Nearby locations, petco sunnyvale, store services.
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Since incorporation, Paws Pet Store has achieved the following milestones: Registered Paws Pet Products, LLC to transact business in the state of North Dakota. Has a contract in Fargo at one of centrally-located retail buildings. Paws Pet Store will set up its office and retail space in 30,000 square feet.
This simple business plan example for a small retail pet store is projected to generate a net profit of $200,000 in the first year. Other financial highlights are as follows. The initial start-up cost of $150,000. Operating break-even point of $125,000. Gross margin of 35%.
Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a pet store business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of pet store that you documented in your company overview.
It serves as a roadmap, outlining your vision, objectives, and the strategies you plan to implement to thrive in the pet industry. To streamline your planning process and get you started on the right paw, feel free to utilize our pet store business plan template. Our team of experts is also on standby to provide a complimentary review and fine ...
A business plan has 2 main parts: a financial forecast outlining the funding requirements of your pet store and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.
Highlight your commitment to pet health and well-being, your variety of pet supplies, and your dedication to delivering exceptional customer service that caters to the needs and preferences of pet owners through your pet store. We supplied you with text in our business plan. Feel free to edit it to match your idea. 3.
Download the Free Editable Pet Foods Business Plan Template now and pave the way for a thriving, value-driven, and anomalous venture in the world of pet foods. And as always, Keep Pets First. Schedule a Call. Download and edit this free template to quickly create a compelling business plan for your pet food business.
Pet Store Business Plan Package Description. Our Pet Store business plan package includes a pre-written business plan in Word and an automatic financial plan in Excel tailored to the Pet Store business. You only need to put in one or two hours to customize the templates in order to exactly suit your own pet store concept.
Pet Store Business Plan Template If you want to start a pet store or expand your current pet shop, you need a business plan. The following Pet Store business plan template gives you the key elements to include in a winning pet shop business plan.
Pet Store Business Plan Template (Microsoft Word) - $47.00 +Add Excel Worksheet (Recommended) - $35.00 +Add PowerPoint Template and 4 Funding eBooks - $65.00 +Add Business Startup, Finance, Marketing Documents 781 Templates - $185.00 +Add Operational, Employee and Policy and Procedure Templates - $35.00
The management team has a track record of success in the pet store business. The pet store retail business is a proven business and has succeeded in communities throughout the United States. [Founder's Name] has been in the industry long enough to develop lasting connections with local pet owners, suppliers, and leaders in the local pet industry.
If you're interested in joining the pet supply industry, this article will guide you through the 10 essential steps to start, launch, and grow your very own pet supply store business. Step 1: Identify the demand & business opportunity in the market. Step 2: Develop a business plan. Step 3: Conduct a market research.
Starting a pet store can be an exciting and rewarding venture for animal lovers. However, creating a successful pet store business or pet supply business requires careful planning and strategic execution. This comprehensive guide will walk you through the essential steps and considerations for developing a robust pet store business plan ...
Step #6 - Marketing plan for a Pet Store. You can refer to the following sample to write your own pet store marketing plan. Susan's Pet Shop has formed a long-term, mutually benefiting relationship with the local animal clinic, which is located within its 100-meter radius.
A Sample Pet Food Shop Business Plan Template. 1. Industry Overview. The pet stores industry comprises of stores that sell a range of pets, such as dogs, cats, fish and birds and also they sell pet foods and pet supplies, such as collars, leashes, health and beauty aids, shampoos, medication, toys, pet containers, dog kennels and cat furniture ...
2.2 Start-up Summary. Start-up expenses for the company total $31,200 and will be distributed as follows: 52% - Product research and development: design fees, patent fees and prototyping. 19% - Corporate brand development: website design, marketing materials and advertising.
In the ever-expanding world of pet care, starting a pet store can be a rewarding venture. As pet ownership continues to rise, the demand for pet-related products and services is on the upswing.
The initial pet franchise costs for a single-unit range from $424,500 to $598,550, which includes a $49,000 franchise fee. Once the agreement is in place, the development team can begin helping you build and execute your Pet Evolution pet store business plan. We offer expert guidance on selecting your store locations, and our support includes ...
With easy-to-follow step-by-step instructions, The #1 Pet Business Plan Template & Guidebook will help you create a solid plan that will give your pet business the edge it needs to succeed. Learn more about the tools, tips, and techniques included in this essential guidebook today! Written by: Newfoundr. Updated on:
Best Pet Stores in Santa Clara County, CA - The Wishbone Pet Company, Petco, Pet Pals Discount Pet Supplies, Andy's Pet Shop, Pets and More, Pet Shop Santa Cruz, Lil Pals' Pet World, Aptos Feed & Pet Supply, Pet People, Cali Pet Goodz
Founded in 1996, SDF is a non-profit group based in Ojai, California. With the assistance of individuals such as Dr. Mandeep Ghumman, SDF recruits and trains rescued canines, partnering the animals with firefighters and other disaster relief professionals. The funding Dr. Mandeep Ghumman provides to the Search Dog Foundation helps ensure ...
Services. Our team at Alisal Pet Clinic provides a high level of veterinary care to the Pleasanton community. Our level of care is maintained by the state of the art diagnostic equipment and highly-trained staff utilized to treat your furry loved one. Some of the services we provide include:
Please call (408) 423-9110. Yes, we have a full-service grooming salon for dogs and cats. Appointments are recommended, but walk-ins are welcome based on availability. Please call (408) 423-9110 to inquire about appointments or grooming services available. Yes, curbside pickup is available at Petco Santa Clara.