Do You Have What It Takes To Operate A Successful Independent Pet Franchise

By Marie Hayes

A lot of people believe the only way to really succeed in business is to own your own company. Many have considered the option of starting a business from scratch but understand that a large percentage of them fail. Franchises have instant brand recognition, and can be very successful however. If you are ambitious and love animals, opening an independent pet franchise offering supplies might be the right move for you.

Franchises are not an option for everybody. They require that the owner have certain financial resources before the parent company will consider them. Most expect prospects to show at least a hundred fifty thousand dollars in liquid assets and three quarters of a million dollars in net worth. An initial fee of about fifty thousand dollars is due at signing. On top of that, you will have expenses for equipment, inventory, marketing, insurance, and rent.

If you meet that criteria and want to learn more, you will meet with a consultant from the company to discuss your financial goals and whether they are compatible with the corporate philosophy. You should be given information outlining what the company will expect from in terms of time and finances. Before you leave, you may be offered the opportunity, at which time you can turn it down with thanks, ask for time to consider it, or accept on the spot.

If you answered yes to the offer, you will begin to receive all kinds of paperwork to fill out and return. You will have to retain the services of an experienced franchise attorney to help you sift through the disclosure documents and contracts. You should be invited to meet other owners who can give you insight into the company. You may also be invited to visit the home office and meet the staff.

During this process, most potential owners have questions. Many are concerned that they don't have prior experience in the pet industry or with franchises. Although many owners were very successful businessmen before opening their franchises, prior experience is not a requirement. You will be subjected to a rigorous training period prior to the opening of your store.

People want to know how much it actually costs to open a store. An outlay of half a million to a million dollars is what you should expect. That is inclusive of inventory, equipment, rent, and marketing. The actual cost depends in part on store size, area of the country, the landlord's tenant improvement expenditures, and construction costs.

Prospective owners are curious about the training they will receive and the marketing support they can expect. Most companies give new owners at least two weeks of intensive training before the store opening. They employ marketing professionals who are experienced when it comes to planning grand openings and multiple media advertising.

The pet industry is booming. More people than ever are willing to spend the money it takes to keep their pets safe and healthy. This is a great opportunity for ambitious individuals who see the possibilities and want to capitalize on them.

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