How to Open a Pet Store
For people who enjoy being around animals every day, owning a pet store can be a fun and rewarding business. Not only does it allow them to care for and play with the animals, but it gives them the opportunity to pass on their love and knowledge to pet owners. If you're someone that fits this mold, here's what you need to know about how to open a pet store.
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Instructions
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Register the pet store. When opening almost any type of business, you have to register it with the different levels of government, and this is true for a pet store. At the federal level you need to obtain an employer identification number from the Internal Revenue Service, while at the state level you are required to register with the Department of Revenue in order to collect and report sales tax on the pets and products you sell. You may also have to collect sales tax for the local level as well as get a special license, because you will likely have more animals than allowed per city law.
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Learn the demand for pets in your area. Whenever opening a business, it is important to learn the demand for products and services the business can provide, and this is true for pet stores. You should become knowledgeable about what type of pets are in high demand in your area, as this will lead to better sales after you open your store. There are many different ways to find this information out. Talk to veterinarians to see what animals they most often care for, and check animal licenses and permits at city hall. Most cities can tell you not only how many animals are registered but what breeds are most popular.
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Determine what animals you will offer. Although you want to offer popular pets for sale in your store, you can also offer some uncommon and unique pets. You can obtain pets to sell in your store from breeders. It is highly advised that you get to know your breeders and learn the conditions into which their animals are born and raised before coming to your store. Negative news stories about puppy mills have made many people suspicious about buying dogs in pet stores.
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Set the price for the animals. Pricing animals to sell in your store can be difficult. You'll need to take into consideration how much you paid the breeder for the animal as well as how much it's costing to feed and care for it as it remains in your store. The price you sell the animal for should cover all of these expenses and still leave room to generate a small profit for you.
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Find a facility to house your store. The pets you plan to offer for sell at your facility will play a major role in the size and layout of your facility. A fish pet store can be in a smaller location than a general pet store, because several fish can be housed in one tank. However, for animals such as cats and dogs, your pet store will need to have adequate room for them to move around and exercise.
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Learn how to care for the animals. In an ideal world, the turnaround time for pets remaining in your store would be short or nonexistent. The reality, though, is that pets may live at your store for several weeks or even months before a customer buys them and takes them home. During this time you'll need to provide good care for the animals, which may include feeding them, grooming them and caring for them if they are sick. In addition you'll need to get shots and vaccines for many of the animals, especially if they remain in your store for a few months before being bought. You'll need to consider the cost of these vaccines when determining your price for the animal.
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Get insurance to cover your business. With almost any type of business, it is a good idea to get insurance to protect your investment, and this is true for pet stores. Not only do you want to have insurance to cover any disasters that may happen such as a fire or flood, but you also need liability insurance that protects you in the event someone gets hurt at your store. Not only is there the potential for individuals to fall or slip in your store, but they may get bitten or injured by an animal on your premises.
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Hire staff to assist you with the pet store. Caring for the animals in your store and catering to customers with questions and needs often requires more than one person.
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Promote your pets and your business to get business flowing into it. Many people are searching for pets to provide them with companionship; thus your business is ideal for them. Let them know what animals you have to offer as well as how you can help them find the right animal for them.
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Tips & Warnings
A great way to make additional profits in your pet store is to offer many of the common pet supplies that first-time owners need. This allows them to not only get their pet for you but everything they need to go with it all in one place.
