How to Get Financing for an Exotic Pet Store

Financing any new business can be difficult, especially a venture as unusual as an exotic pet store, as it is not mainstream in the retail industry. There are ways to get financing for an exotic pet store if you just know where to look and how to ask.

Instructions

Difficulty: Moderately Challenging

1. Prepare a professional, expansive business plan. Business plans are the key to getting financing for any kind of business. If you do not know how to write a business plan, hire a business plan writer and professional to help you. The money invested in this will come back ten-fold.
2. Consider grants. Free government grants are available in a variety of industries, sizes and through various agencies. Check out USA.gov for a listing of grants arranged by category. Don't forget to check out specialty categories too, like grants for women or minority business owners.
3. Apply for a traditional business start-up loan. Business loans are not based on the type of store you have, but the plan and success that store brings. You will not be judged for the unusual nature of your business (exotic pets), but will need to prove to the bank there is a local market, supply and demand and that you can make the business grow to repay the loan.
4. Choose the exotic pets you are going to offer and the supplies you will carry for feeding and housing them. Find a supplier ahead of time, one who is reputable and fully-licensed to sell exotic animals, and put that information into your business plan. It shows investors you are serious, ready to go and helps them make an informed decision.
5. Find an investor. Look for a business saavy investor with money to invest in an unusual venture, especially someone with experience or contact in the exotic animal industry. They are more likely to see the value in your exotic pet store and allow you to make the majority of the decisions.

Tips & Warnings

• One good exotic pet supplier is Animal World. They offer a large variety of exotic pets and exotic pet supplies.
• The exotic pet world is a highly regulated one, as there are stringent government regulations for the import and breeding of exotic animals. You need to make sure you follow all the rules or you could get into trouble on a Federal level.