One of the most thrilling thoughts a pet lover could have would probably be to own a pet service business. And if it were as simple as 1-2-3, perhaps 8 or 9 out of 10 pet owners would be considering this as the main source of their income. It does make sense after all–the love for pets is already there, so it won’t be so difficult to understand the target market.
Even if there were a lot of things to learn, I think we will all agree that learning is tremendously so much easier when we are very much interested in that which we are learning. Of course, before even planning on actually taking concrete steps to start your dream business, it would be wise to think about the joys and pains of owning a pet service business and weigh the pros and cons.
The Joys of Owning a Pet Service Business
The love of pets aside, let’s talk about why anyone would want to get into the pet care industry. For starters, it is a profitable business. According to statistics gathered by the APPA (American Pet Products Association), the total U.S. pet industry expenditure reached $72.56B in 2018. So, yes, it is profitable! And this shouldn’t come as a surprise. Pet lovers, after all, are known to splurge on they’re babies even when they don’t like spending on themselves. A dog owner might even be spending more on his pet than on his 6-month old baby.
Another upside to owning your own pet care business is the flexibility in choosing your niche and even your working hours. You can focus on pet-sitting if you wish, or decide to go for pet grooming instead. Choose your work hours, operate purely online, or build an empire of pet grooming centers.
But it’s not just about the money and time freedom. One of the undeniable joys of being in this business, especially for one who is hands-on in the business, is that there is practically no such thing as a monotonous day. There is always something to look forward to. Best of all, seeing the pets and their owners happy with the service you provide is plain and simply fulfilling.
The Pains of a Pet Service Business
Given that there is a great amount of joy and fulfillment daily, it is still a business and it can’t be all play. Part of the source of happiness is that we deal with living, feeling, and interacting beings. And it is for the same reason that there is also a big amount of responsibility involved.
Pet owners rely on pet service businesses to look after and care for their pets; this requires a huge amount of trust. There are times when owners would even give their house keys to pet-sitters.
As for the job itself, especially when you’re just starting and you’re doing the job yourself, know that it’s not all about playing and interacting with them. You should be prepared to handle “accidents” and willing to clean up urine, stool, and even vomit. You should know what to do during emergencies and know how to perform CPR if required.
Also, there is no business without any paperwork. At the very least, there should be a mutually binding contract that specifies the kind and extent of service to be expected by the pet owner.
And as with any business, a pet service business is exposed to the risk of financial losses when unexpected and unwanted situations arise. For example, what if the dog you’re walking suddenly bit someone? What if you’re grooming someone else’s pet and you accidentally injure it, or one of your employees does? Nobody wants nor hopes for this sort of thing to happen, but they do. Some people learn the hard way; some people end up being thankful they were prepared.
We all do hope for the best. But it doesn’t hurt to be prepared for the worst. When it comes to owning a pet care business, it is best to be prepared for situations that might potentially mean huge expenses for the company. And depending on your niche, some insurances are structured to fit your business needs, such as Pet Sitting Insurance, Pet Groomer Insurance, and Dog Walker Insurance.
There are also basic types of insurances that businesses need regardless of the industry they’re in. Property Insurance, for example, covers signage, inventory, equipment, and furniture in the event of theft, fire, or storm. If you plan on hiring employees, then you’d need Workers’ Compensation Insurance which covers an employee’s medical treatment, disability, and death benefits in the event your employee is injured or dies as a result of his/her job.
And if company vehicles are to be used, it would be a good idea to be insured against third-party injury; but even better if you have comprehensive insurance which covers the costs to repair or even replace the vehicle in an accident.
These are just a few that might apply to your business, so don’t hesitate to consult with us about the insurance needs specific to your business.