There’s a universal agreement on the fact that a pet is part of our family. Everybody is willing to invest and give the best to the ones they love. While there’s demand, there’s a profitable market. This means online pet business is a great opportunity due to the high demand for all kinds of products for pets.
Here are some important statistics that you should consider in terms of profitability:
- The US retail eCommerce from January to Match 2022 has been 257 billion USD
- At least 75% of all pet product buyers will search and purchase those products online
- Approximately 50 billion USD was sold in 2021 in the US alone
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The costs to start your business
The pet product business is not an expensive one, but you do need to consider several expenses that will be essential for you to run the business properly.
The first thing you need to do is to consider the importance of setting up your eCommerce website. There are several platforms for this purpose, but two of the most popular are Shopify and Etsy.
The costs of creating your eCommerce store in either of these platforms can set you back as little as $20 USD a month for a store with basic features. The good news is that this type of package is often enough to get started. You can always upgrade when the business starts to grow and you have the need for more features.
You will need either a desktop computer or a laptop, but the latter is always recommended as it allows you to work from any location. A laptop computer with basic features and enough power to run office software can set you back around $300 to $500.
You will also need a printer for your labels in order to ensure that your products can be properly branded. The MUNBYN thermal label printer is ideal for this purpose and it is a very accessible purchase at below 200$. You can also use it to print shipping labels.
This is one of those expenses that can’t be calculated without deciding the type of products you plan to sell. If you plan on having toys, bowls, food, etc., you need to consult with a supplier that can provide all of those products at an accessible cost. You have to look for a place at home that you can use as storage for your products.
If you are looking to create a personal brand, you need to come with up a great brand image and this could require some expert help. A good designer could work for a very low cost, but once again, there is no extra costs for this sort of process. Depending on your needs, you could get a good brand image (logo, box design) created for a few hundred bucks or even less.
You need to look for a favorable shipping option in your area. It is a good idea to compare the pricing of the available choices to see which one is best for your needs. Keep in mind that you need to look for a reliable and consistent service to save shipping costs.
Consider the needs of your audience
Understanding the kind of products that your audience wants is essential and it is best to choose a specific niche within the industry. For example, you could focus on dogs and cats for your product line. If you try to expand to more exotic pets like birds, turtles, and fish, you would need to carry a large number of products.
This is not to say that it is not possible to expand your business, but we do recommend you keep things simple at first. Once you decide what kind of audience you have, you can also consider what to sell at your online pet business.
You need to check permits if you plan to see food and treats. This guide will help you learn the essentials regarding these types of permits and which ones you need depending on your location.
Choosing your products
We briefly mentioned this earlier, but it is worth considering certain details about this decision. One of the main things that you need to consider is that your first choice should always be the highest demand for your target audience.
Let’s say you choose to sell dog products only at your store. If this is the case, you know that some of the most common products people look for are bowls, dog toys, leashes, and beds. If you choose these products for your store, the competition is larger, but selling the products is also quite easy if you know how to market your business.
A very popular set of niche products are pet costumes. These are now becoming more and more common as a purchase that people make all year long. One great thing about pet customers is that they can bring in more profit per sale for your business.
You could also consider pet monitors and special collars that tell you the location of your pet. There are many fancy products for pets now, but you should always think of their level of demand.
Marketing your store online
A golden rule for any online business is to promote it as much as possible. There are several ways to achieve this goal and the following are the most reliable.
Create blogs related to pet shop topics
This is one of the best ways for you to start positioning your store on search engine ranks. You can blog about topics related to your product and to pet care. The best approach for this is to use keywords that are related to your business and this is going to make it easier for people to find you.
Use social media to promote the content you create
This is a great way to create synergy between your blog content and social media. You cost repurpose the content for your social media page as well given the fact that some people prefer to watch appealing videos.
Work with influencers
If you know any influencer that is very interested in pet products, you offer some free products or decide on a price for them to recommend your store to their audience. A single mention from a popular influencer can bring a lot of business your way. Never forget to make sure that you and the influencer both target similar audiences.