Includes business from the Pet Shops category
Pet shop businesses can include retail stores and services such as dog grooming and care. In order to buy an existing pet shop business you should register for alerts so you are notified when a new business is listed. You can then make contact with the seller and request more information. Usually the seller or broker will ask you to complete an NDA to ensure the confidentiality of the business. Buying a pet shop business requires professional advice during the process to ensure the due diligence is conducted properly.
A good pet shop business will be well established and have a repeat client base. If you are looking at a retail shop with products such as pet-food, bedding, toys, etc you will need to consider the stock at value component of the sale. A good pet shop will have systems in place for ordering stock, managing staff, and communicating with clients. The lease agreement is very important and you want to ensure it has good terms and conditions. If you are looking for a standalone or mobile dog grooming business, repeat clientele is very important as well as a training period so you can meet with the current clients and their pets.
Pet shop businesses and services can be focused on supplying products, services or both. There are retail businesses that sell products and animals as well as provide services such as pet grooming, veterinarian services, puppy training etc. There are service based businesses such as mobile dog grooming, pet sitting, puppy training, mobile veterinary services that travel to the clients home or meet at a location such as a local park.
If you have an interest in animals and pets and love customer service it could be a well suited business. The biggest benefit is for someone who enjoys working with animals, has management experience and is business minded and can continue to own and manage the business. Pet shops are all about providing products and services to pet owners so understanding their needs is vital to the success of your business.
Pet shops are appraised based on a multiple of the net profit to the owner with some market predictions. The determining factor is usually, what will the market pay for this business based on similar sales. Obviously with pet shops there is stock involved, so there is usually a +SAV (plus stock at value) on the price. It is important to obtain professional advice when buying a pet shop as it can be a large investment and you want to be sure you know what you are agreeing to when purchasing. It is important to conduct proper due diligence.
A pet shop can make money by selling products such as animals, pet-food, bedding, toys or medicine. They can also generate income by selling services such as dog grooming, veterinary services and puppy training. Large pet shops may lease out space within their shop for other businesses to provide these services.
The best way to keep track of new business opportunities is to save your search result. You will be notified as soon as a new pet shop is listed for sale.
Selling a pet shop business requires preparation. Having a solid exit strategy will mean your pet shop is ready for sale and has a greater chance of achieving an optimum price. It’s important to be prepared for the sales journey as it usually takes around 6-9 months to sell a business in Australia. Check out Bsales 6 steps to prepare a business for sale which will provide you a checklist and a general step by step guide. Business brokers are licensed professionals who can assist with the sale of your business and market it on websites such as Bsale. Check out the Find a Business Broker section to locate a suitable broker for your business. Bsale also offers advertising direct to business owners.
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