You have a pet care business up and running- congratulations! Whether you took over an existing dog grooming business or built your doggie day care from the ground up, learning how to make or keep your business sustainable is important. Every 6 months to a year, you should assess the current state of your business. Some questions to consider are:
- Which services are most popular?
- What is the client growth rate from when you started running your company to the present?
- How does revenue compare to your business plan forecast?
- How do expenses compare to your business plan forecast?
- What changes are needed in your marketing plan?
If you currently do not have a business plan in place or there are gaps within it that prevent you from answering any of the above questions, it is never too late to create one! For assistance, you can reference the Tail Wagging Paychecks to ensure you are including all necessary information.
When it comes to budgeting for your business, going through the numbers and creating trackable spreadsheets is easier than you may think. Make sure you include the profit margins of each service, the ROI of each marketing strategy implemented, your own yearly salary, and of course, monthly operating expenses. Tracking hard data such as these will allow you to better view your finances and adjust accordingly.
If you are looking for any insight on how to progress your pet care business towards your desired destination, we recommend reading The Dog Gurus’ 10 Steps to Sustainability or the Are You Wearing the Right Hat. Not only will these resources answer the questions you have, but they will guide you to ask the questions you have yet to consider asking.