Your executive summary is the first part of your business plan, but you usually write it last because it is a summary of all the important parts.
The point of your executive summary is to get the reader’s attention quickly. Tell them what kind of pet grooming business you run and how things are going. For example, are you a startup, do you have a pet grooming business that you want to grow, or do you run a chain of pet grooming businesses?
Next, give an overview of each part of your plan that follows.
- Give a short summary of the pet grooming business.
- Talk about the kind of pet grooming business you run.
- Detail your direct competitors. Tell us about your ideal customers.
- Give a quick summary of your marketing plan. Find the important people on your team.
- Give an overview of how you plan to handle your money.
In your business summary, you will explain what kind of pet grooming business you have.
For example, you could specialize in one of the following types of pet grooming businesses:
- Mobile pet grooming is a type of pet grooming service that uses a van or other vehicle to carry all of its tools and supplies to customers’ homes or other convenient places to groom pets.
- Home-based pet grooming: This type of business owner does pet grooming services in their own home. People come to them to get their pets groomed.
- Pet grooming salon: This type of pet grooming business involves renting or buying a salon space. The owner of a pet grooming business has a number of ways to run it, such as owning the salon as the only groomer, renting a space in another proprietor’s salon, owning a salon and renting space to other groomers, or managing the salon and hiring groomers to work for them.
In the company overview, you need to say what kind of pet grooming business you will run and give some background information about the business.
Include answers to things like:
- When did you start your business, and why?
- What important steps have you taken so far? Milestones could include the number of customers served, the number of pets groomed, making X amount of money, etc.
- Your legal stuff Are you set up as an S-Corporation? An LLC? A sole proprietorship? Tell us about your legal structure.
In your industry or market analysis, you need to give an overview of the pet grooming industry.
Even though this may seem pointless, it has more than one use.
First, learning about the business of grooming pets educates you. It gives you a better idea of the market you are in.
Second, market research can help you make a better marketing plan, especially if you use it to find market trends.
The third reason is to show readers that you know what you’re talking about. You do just that by doing the research and putting it in your plan.
In the industry analysis section of your pet grooming business plan, you should answer the following questions:
- How much money does the pet grooming industry make?
- Is the market going down or up?
- Who are your main rivals in the market?
- Who are the main market suppliers?
- What changes are happening in the field?
- How fast is the industry expected to grow in the next 5–10 years?
- How big is the market that matters? That is, how big is your pet grooming business’s potential market? You can figure out such a number by figuring out how big the market is in the whole country and then applying that number to the population in your area.
In the section of your pet grooming business plan called “Customer Analysis,” you must describe the customers you serve and/or plan to serve.
Individuals, schools, families, and corporations are all examples of customer segments.
As you might guess, the type of pet grooming business you run will depend a lot on the customer segment(s) you choose. People would respond differently to marketing campaigns than, say, corporations.
Try to figure out who your ideal customers are based on how they look and how they think. In terms of demographics, you should talk about the ages, genders, locations, and levels of income of the people you want to serve.
Psychographic profiles explain what your target customers want and need. The better you can understand and define these needs, the easier it will be to find and keep customers.
In your competitive analysis, you should list your business’s direct and indirect competitors and then focus on the direct ones.
There are other pet grooming businesses that are direct competitors.
Indirect competitors are other things that customers can buy besides your product or service that aren’t in direct competition with it. This includes businesses like a veterinarian, boarding kennel, or pet store that offer pet grooming services. You should also talk about this competition.
Give an overview of each competitor’s business and list their strengths and weaknesses. Unless you’ve worked at one of your competitors’ companies, you won’t know everything about them. But you should be able to find out important facts about them, like
- What kind of clients do they work with?
- What kind of pet grooming services do they offer?
- How much do they charge (high, low, etc.)?
- What can they do well?
- What do they do wrong?
For the last two questions, try to answer them from the customers’ point of view. And don’t be afraid to ask the customers of your competitors what they like and dislike about them.
The last part of your competitive analysis section is to list the ways you are better than your competitors. As an example:
- Will you make it easier for customers to use your services?
- Will you sell or provide things that your competitors don’t?
- Will you treat your customers better?
- Will you price things better?
Think about how you will do better than your competitors and write them down in this part of your plan.
Usually, a marketing plan has four parts: the product, the price, the place, and the promotion. Your marketing plan for a pet grooming business plan should include the following:
Product: In the “Products” section, you should say again what kind of pet grooming business you have, just like you did in the “About Our Company” section. Then, explain what products or services you will be selling. For example, do you offer services like trimming nails, cleaning ears, brushing hair, or shampooing?
Price: Write down the prices you’ll be charging and how they compare to those of your competitors. In the product and price sections of your plan, you show what products or services you offer and how much they cost.
Place is the location of your pet grooming business. Write down where your business is and how the location will affect your success. For instance, is your pet grooming business in a busy shopping area, a business district, a salon on its own, or a suburban home? Talk about why your site may be the best place for your customers.
Promotions: In the last part of your pet grooming marketing plan, you’ll write down how you’ll get potential customers to your shop (s). Here are some ways you could promote your business:
- Advertise in the local newspapers, radio stations, and/or magazines
- Get in touch with websites
- Put out flyers
- Engage in email marketing
- Place ads on social media sites
- Improve your website’s SEO (search engine optimization) for specific keywords
In the other parts of your business plan, you talked about your goals. In your operations plan, you talk about how you will reach those goals. Your plan for operations should have two separate parts.
Everyday short-term processes include everything you need to do to run your pet grooming business, such as answering calls, setting up appointments, greeting customers, cleaning the salon, collecting payments, etc.
Long-term goals are the goals you want to reach in the future. These dates could be when you expect to book your Xth pet grooming session or when you hope to make $X. It could also be when you plan to open a new location for your pet grooming business.
To show that your pet grooming business has a chance to be successful, you need a strong management team. Showcase the backgrounds of your key players, focusing on the skills and experiences that prove they can help a company grow.
You and/or the other people on your team should have experience running pet grooming businesses. If so, talk about your experience and skills. But also highlight any experience you think will help your business succeed. If your team is missing something, you might want to put together an advisory board. A two-to-eight-person advisory board would help your business by giving advice. They would help answer questions and give advice on how to plan. If you need to, try to find advisory board members who have managed a pet grooming salon or a small mobile pet grooming business.
Your 5-year financial plan should include a monthly or quarterly breakdown for the first year, then an annual breakdown after that. Your income statement, balance sheet, and cash flow statement are all parts of your financial statements.
A more common name for an income statement is a Profit and Loss statement, or P&L. It shows your income and then takes away your expenses to show if you made a profit.
You need to make assumptions in order to make your income statement. For example, if you hire 3 groomers, will each of them take care of 5 pets a day? And will sales grow by 2% or 10% every year? As you might expect, the financial forecasts for your business will be greatly affected by the assumptions you choose. Do as much research as you can to try to make sure your assumptions are true.
The Balance Sheets
Balance sheets list what you own and what you owe. Balance sheets can have a lot of information, but try to boil them down to the most important parts. For example, if you spend $50,000 to set up your pet grooming business, you won’t make money right away. Instead, it is an asset that you can use to make money for years to come. Also, if someone gives you a check for $50,000, you don’t have to pay it back right away. Instead, you will have to pay that back over time.
Statement of Cash Flow
Your cash flow statement will help you figure out how much money you need to start or grow your business and make sure you never run out of cash. Most business owners and entrepreneurs don’t realize that you can make money but still go bankrupt if you run out of money.
When making your Income Statement and Balance Sheet, make sure to include some of the most important costs of starting or growing a pet grooming business:
- Price of tools and supplies for grooming pets
- Payroll or wages given to employees Business insurance
- If you’re starting a new business, you’ll also have to pay for legal fees, permits, computer software, and equipment.