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Introduction

Pet business is one of the leading businesses in manycountries like- UK, USA, India etc. People found it asymbol of status keeping pets at their personal aswell as professional places. A large amount ofrevenue is generated through this business aspeople get emotionally attached to the pets andkeep them as their own family member. Thus, getsready to spend a lot on them.

Define your Business

You must know everything regarding your businessi.e. How you are going to imply. A crisp valueproposition is a good gauge of how clear your ideais. Frame it in a way if you had to explain in oneminute your whole business to any of the potentialcustomer of an investor.

Develop a Business Model

It is very essential to model your business. Itis where you will find the answer to thequestion- How will you make money?You must have a clear idea about thefollowing questions-

What are you selling?

• Types of pets: Dogs, Fishes, Cats,Mice, Guinea Pigs, Hamsters, Lizards etc

• Pet Products: Pet Food, Accessories etc

Who are you selling to?

•Marketplace

•Business to Business

•Business to Consumer

Market Analysis

There is fact which would make you understandthe importance of Market Analysis-“therehas never been a successful entrepreneur thatdidn’t understand his/her market”

A profound Market Analysis requires a hardcore

MARKET RESEARCH

The pet market is steadily spreading its marketpresence in numerous countries. With growingtrends and modernize population, keeping petsat home has increased to an extent.

• According to PFMA Commissions, in 2015, theUK alone have 12 million households that havepets.

• The pet population stands out to be 58 million.

The pets market does not stop here itself rather it starts at this point-

• Research by Capital One revealed that almost90% of people spend up to £50 on extravagantpresents for their pets.

• Britain is a nation of animal lovers and they splashout nearly £6bn a year on their pets.

• Even people spent a lot on pampering their petsas the pet grooming market of the UK aloneaccounts for £2.5bn.

• Health is the foremost thing which must beconsidered when you are talking about pets. Theamount the British spend on pets hygiene isgrowing rapidly and is predicted to grow to£380m by 2017, according to Pets at Home.

Marketing Plan

It is essential for any business to have a provedMarketing Plan for it to achieve heights. Withrapidly increasing competition, it becamenecessarily important to indulge new and savvymarketing tactics in this business to attractmore and more clients.

Marketing Channels you can use to gain theattention of your customer demographics-

Paid marketing:• Pet Shows• Brochures/Flyers• Car Signs• Referral Schemes

Organic Marketing:• Social Media• Content Marketing• E-Mail Marketing• Web Blogger

Strength

Pet Friendly Store

Diversified Product range

Affluent Customer Base

Weakness

Steep Prices

Lacks Brand Identity

Opportunity

Pets Ownership

Hispanic population

Willingness to pay

Threat

Decline in Children Household

SWOT Analysis

Financial Management

This section is used to forecast the netincome, sales and expenses of your e-commerce business. You should create amonthly excel schedule for the following-

•Projected revenue

•Fixed expenses

•Variable expenses

You must answer the following questions about

your service offering:

•How much product do you need to sell per year

to meet your income goals for the business?

•What are the margins on your product?

•What is the lifetime value of a customer?

•How much can you spend to acquire customers?

•Do you have any big capital expenditures early

on that would require you to need to bring in

investors?

•Can you improve gross margins by making bigger

orders from your suppliers?

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