Everybody venturing tentatively into the world of small business will first need to have taken the all-important decision as to which area they will specialize in. It could turn out to be anything, but probably not too many will think automatically of dog chews. But here are six reasons why they should:
#1: Your Customers Will Be Grateful
Or at least, being dogs, they probably won’t complain. But seriously, for a dog lover there can be few businesses which provide more gratification than knowing that somebody’s precious pooch has thoroughly enjoyed the fruits of your labor. What is more, if their dog likes them then its owner will probably buy more, and you will have a satisfied, regular customer with a happy story to tell.
#2: Your Business Will Probably Last the Course
Setting up in business for the first time can be a stressful and frustrating experience. Opening new bank accounts, installing equipment, rigging up an office, maybe interviewing staff – yes it will all hopefully be worth it but how many people want to go through all that more than once? It is a frightening fact that around 50% of new businesses fail within five years (Investopedia) but as companies like Wonder Chews can testify that doesn’t happen too often in the canine treats industry.
#3: Greater Emphasis on Healthy Food Opens up a New Market
As humans become increasingly aware of the benefits of striking a good nutritional balance so owners are instinctively applying the same standards to their pets. This has led to a whole new market opening up in healthy pet treats, complete with natural and organic ingredients and of course all the right vitamins. Packaged Facts has estimated that US retail sales of dog and cat treats will continue to rise as the health fad grows.
#4: They Are Easy to Store
If you are going to be keeping supplies in stock as opposed to simply acting as a go-between for a larger supplier then the compact size of the products you are dealing in means that not too much storage space will be needed. In most cases operating from home and posting out orders from source will be a feasible option.
#5: You Can Buy a Franchise
If going it entirely alone is not for you then you have the option of setting up a franchise on behalf of an existing supplier. This offers the best of both worlds in that you will be in charge of your own operation and responsible for building it up but at the same time enjoy the economies of scale and draw upon the expertise and experience of the parent company.
#6: Start-Up Costs Are Low
By comparison with many start-ups it will cost relatively little to manufacture, supply and sell dog chews. The need for machinery and other heavy equipment will be minimal if any at all, and the product can be made in such quantities as with demand in mind. So it is possible to start with a modest output, and increase as the orders begin to come in more quickly.