Choose Your Niche

There are different types of Pet Shops or Stores. Some specialize in a certain area while others have a mix of everything that most of your competitors offer. Familiarizing yourself with the industry standards and common practices in the area that you would choose as your niche will help you in deciding the type of Pet Care to Franchise. Here are some pet store types or categories you can check:

• Pet sitting
• Dog walking
• Pet grooming
• Dog training
• Pet clothing and accessory designer or pet couture
• Veterinary services
• Pet photography and Pet portrait business
• Retail pet shops or pet supply stores
• Pet waste removal services

Evaluate Yourself

Before deciding on which type of Pet franchise to buy, consider an honest evaluation of your willingness to persevere in running your pet care franchise. Keep in mind the possibility of facing the challenges and difficulties you might have to deal with in running your business.

Knowing what you want is a good start in figuring what type of Pet Care Shop to franchise. However, keep in mind that businesses are established and thrives on the fact that it exists to provide a product or a service in addressing a need. Knowing what your customers need (or want) guarantees the continuity of your franchise business, as you continue to provide products and services to address their needs. To find out what’s important for your target market or customers, you can apply any of the following methods for Data Analysis:

• Online surveys
• Telephone interviews
• Face to face interviews
• Market Research

Knowing the kind of business you want to franchise and the needs of your customers give you an opportunity to make good business. However, in a competitive industry with a multitude of franchise options, it is quite difficult to pick one unless you have clearly defined goals and standards. Your standards would help in determining which Pet franchise opportunity to choose. Make sure to check the following:

• Demand for the products/services
• Franchise track record
• Required Investment Capital
• Business rival or competition
• Training and support
• General guidelines and standards

Search Online

There are thousands of possible sources to find Pet franchise opportunities or franchise for sale in Las Vegas. Here are some sources that you can check online:

• Franchise Opportunities
• Splash and Dash
• Franchise Direct
• Sit Means Sit
• BusinessForSale.com
• BizQuest.com
• BizBuySell.com
• Loop.net
• Craigslist
• Franchise.com

Expos

In addition, you might want to attend franchise expos and other related events. If all else fails, you can always scour Google for other sources you can find.

Assuming that you have come up with a list of pet care businesses that are open for franchise, the next step is to establish contact. Most online sources will provide a means for you to be in touch with the franchisor either through email or a phone number. Other websites will require you to provide your email or contact details and the franchisor will contact you depending on their turnaround time. Once contact is established, make sure to secure an appointment for an initial meeting and prepare to ask the following: 

• Your criteria in choosing a franchisee?
• Initial investment capital
• Profit
• The extent of the support you offer to your franchisees
• Amount of liquid capital required to cover the franchise before it breaks even
• The franchise company’s stability in terms of its finances
• Ongoing financial responsibilities in running the franchise
• Marketing fees and royalty
• The background of your executives
• How the franchise started
• How many franchisees the business has and its success rate
• Advantages over competitor
• How disputes are resolved
• Expectations from franchisees
• Franchisee’s scope and territory
• Franchisee’s roles and responsibility

Due diligence is a responsibility that both franchisor and franchisee have to carry out. As a franchisee, involving the assistance of a business consultant, an accountant, or a lawyer is necessary. Unless you have adequate knowledge and background concerning the legal aspects and the accounting side of the business, it would be wise to employ the help of a professional to look into the following documents:

• Financial Statements (Balance sheet, Income Statement, Statement of cash flows)
• Income Statements or P&L Statements (Revenues, Expenses, Profits)
• Cash deposit and payment records
• Utility Accounts
• Bank loans and Lines of Credit
• Minutes of Directors’ Meeting
• Audit Paper files
• Intellectual assets of the business (trademarks and patents)
• Seller’s claims about the business (Reasons for selling the business and its reputation)
• Privacy details (Includes information about customers, trading partners, employees)
• Details about equipment, fixtures, vehicles, plant (Is it licensed? In a good working condition?)
• Existing Contracts with clients and employees
• Agreements (Partnership and Lease)
• Details of the automated financial systems of the business
• Credit and historical details of searches about the business

Contract Sections

To formally enter into a legally binding agreement after taking all the necessary steps to operate your franchise, you may now affix your signature on the franchise agreement. See to it that you have checked the following section of the contract:

• Intellectual Property
• Training
• Royalty
• Term & Renewal
• Advertising & Marketing

Attend Trainings

In addition, make sure to attend the franchiser’s training and review everything that is included in the FDD (Franchise Disclosure Agreement) 

You might also be interested in reading, “How to Start a Franchise Business in Las Vegas”.

IN SUMMARY:

Here are the seven (7) simple steps on “How to Choose a Pet Care Franchise in Las Vegas”:

• Know What You Want
• Know What Your Customers Want
• Define Your Standards
• Research Pet Care Businesses for Franchise
• Contact and Set a Meeting with the Franchisor
• Carry Out Your Due Diligence
• Sign the Franchise Agreement