how do i open a pet store?

Answer 1

It is the hardest simple thing you will ever do. You don't need a business degree but you do need a plan.

Enter the business plan. A business plan, if written properly will consider all the variables to make a successful go of a new business.

The most important thing to identify is cost. How much does it cost to get the product out the door and what are the variable costs verses the fixed costs.

Look at a retail pet shop, as an example.

If you had pet shop that costs 3800 per week to keep the doors open without making a single sale. The 3800 per week is the fixed cost, such as rent, insurance and utilities, that must be covered by sales.

The question is how much stuff must be sold to make the 3800 of profit to cover your fixed expenses. The answer to that question depends on your gross profit margin.

Lets imagine (to keep is simple) that you sell fish that cost you $1 each for $2 each. In this example you would have a cost of 50% of the sales price. You have to remember that the cost of your fish is not part of your fixed expenses. Presumable if you never sold a fish, you wouldn't need to buy one and therefore the fish is a variable expense verses a fixed cost.

So in order to reach the profit level of $3800 so that you have enough to pay all your fixed expenses for the week you need sales, and since you make $1.00 profit for each fish sold, you must move enough product to pay not only for the fixed expenses but the cost of the inventory as well. In this example you would have to sell $7600 worth of fish, or 3800 fish at 2 bucks each to reach the magic number. This number is known as your break even.

It is essential that you know your break even, because without that number you can't make a judgment if your business plan is viable.

You also need to consider what effect gross profit has on break even. Lets imagine that you decide to raise the price of your fish to 3 bucks each. Is that a good thing, bad thing or neutral?

First lets look at the effect on break even. You still need $3800 to pay all your fixed expenses, but because you gross profit is now 2 bucks per fish instead of 1, you only need $5758 in sales or about 1900 fish instead of 3800 fish required at a gross profit of 1 dollar per fish. Raising prices! Sounds Great don't it?

Hold on a minute. Lets imagine that you store is at a Mall where you get 7600 people walking through you store with half of the people end up buying a fish - - that was before you raised the price.

Now only 20% of the 7600 buy a fish. Oh oh, you only sold 1520 fish with the new pricing schedule. You're out of business.

Answer 2

It helps to have a business degree.

However, your question is so short and vague that I can only presume that you are not prepared for the daunting task of opening a petstore. I can assure you, now, that no one ever got rich opening a local petstore (Petsmart and Petco are different cases altogether...)

You need a premises, to start with, in a decent area. You will need shelving units, tanks, cages, etc to house your animals for sale. If you're going big on fish or reptiles, you will need to purchase merchandise such as heating devices, light fixtures, rocks, decor, food, etc., and you will need the animals themselves.

Naturally, you will need products to sell. You'll need the bread and butter products which includes pet/fish food, toys, collars and leashes, lighting and filters for aquariums - as well as larger products like tanks and stands.

It is an expensive, time consuming endeavour. You have to compete with large chain stores that probably have lower prices and wider selection. You will undoubtedly spend many difficult months in the red, taking money out a bank loan. You will, of course, need a large bank loan for all these things.

However, with sufficient expertise, drive, motivation, money, demand, and a few good friends, it can work.

Answer 3

I would suggest driving down the street in neighborhoods and snatching children's pets and then selling them in your store. Kidding. It's like any other small business. You need money, time, demand for your product, and a desire to succeed. Find a successful pet store that is in another neighborhood and mimic their plan.

Answer 4

Get lots of money. Find a place. Get pets. Organize. Hire people. Open.

Answer 5

First, I would suggest getting a business degree, as you're probably not gonna be very succesful if you don't understand how to keep a business going.

Then you get a large loan, get in contact with suppliers, and find a place to open up and work from there.

Answer 6

Understand business and math. Get a place to sell pets. If you wanna self run it or hire people. Buy pets or breed your own. advertise

Answer 7

get lotz of pets n find a spot lisence