31 Oct
Opening an online pet store can be a great way to start your own business while also providing a valuable service to pet owners. With more and more people choosing to shop online, an ecommerce store focusing on pet supplies presents a lot of opportunities. However, launching an online business requires careful planning and preparation. Here is some advice on getting your online pet store up and running.
Selecting a Business Model
One of the first decisions you will need to make is what type of online pet store you want to create. Here are some of the most popular business models to consider:
Dropshipping
With drop shipping, you sell products on your website but do not actually keep inventory. When an order comes in, you forward it to a third-party supplier who ships the product directly to the customer. This allows you to run a pet retail business without large upfront inventory costs. However, profits per sale tend to be lower.
Stock and Ship
Alternatively, you can choose to stock your own inventory of pet products and handle fulfillment and shipping yourself after an order is placed. This requires more startup costs to acquire wholesale inventory but gives you more control over order fulfillment and customer experience.
Hybrid Approach
Some online pet stores use a hybrid model, keeping some best-selling essential products like online pet food supply in stock while dropshipping specialty items through a supplier. This helps balance inventory costs with order profit margins.
Creating an Online Store
Once you decide on a business approach, your next big task will be creating your ecommerce website and online store. Some tips to get started:
– Choose a platform like Hana Retail to power your online store and handle payments, shipping, and other key functions. These make launching an ecommerce site much easier.
-Find a web hosting provider to host your site and register a domain name for your pet store’s website. Choose a name that is easy to remember and describes what you sell.
-Design an easy-to-navigate website with engaging content and appealing visuals to encourage visitors to shop. Focus on showcasing your products in an eye-catching way.
Selecting an Inventory of Products
Carefully curating your online pet store’s product selections will be key to running a successful business. Some factors to consider:
-Research popular online animal supplies in high demand, like pet food, treats, toys, beds, leashes, grooming tools, medicine, etc. Focus on products pet owners purchase frequently.
-Offer specialty items not easily found in local pet stores to stand out from competitors. Natural, organic, eco-friendly, and made in the USA products are very appealing to modern pet parents.
-Cater your offerings to your specific target audience based on factors like what types of pets they own, desired price points, regional needs, etc.
When sourcing inventory, look for wholesalers and distributors that can supply pet products at a wholesale rate for good profit margins. You should attend pet retail trade shows to potentially find new suppliers and get product and pet business ideas.
Setting Competitive Prices
Conduct research on competitor websites selling similar pet items to determine appropriate price points for the products you sell. Some tips when pricing items in your online store:
-Factor in not just the wholesale cost you paid to acquire the product, but also overhead expenses like website hosting fees, transaction costs, and shipping supplies.
-Consider lowering prices initially as a new business to attract customers and establish market share.
-Offer enticing sales, bundles, loyalty rewards programs, and other specials to encourage repeat business. This can help you stand out and increase sales.
Managing Inventory
For ecommerce stores stocking their own inventory, managing those product levels will be an essential part of operations. Here are some tips:
-Use inventory management software to automatically track stock counts across SKUs as items sell. This helps optimize reorders and minimize costly out-of-stocks.
-Build relationships with multiple supplier and wholesaler partners so you have backup sources for your top-selling pet items.
-Allow sufficient lead time for inventory reorders, you should factor in shipping times from suppliers.
-For dropshipping stores, inventory management will be more hands-off since items ship directly from third parties once ordered. However, vetting your suppliers on order fulfillment timeliness and accuracy will still be important.
Handling Order Fulfillment
Whether you stock your own inventory or dropship through vendors, your online pet store will need a system to handle order processing, packing, labeling, and shipping once a customer completes a purchase. This includes:
-Integrating seamless order management between your sales channels (website, Amazon, eBay, etc) and fulfillment workflow. Customer management software for small businesses can be very helpful for this.
-Streamlining the steps from order receipt to handing the package over to the shipping carrier (USPS, UPS, FedEx, etc). Using a shipping software or retail store POS system can automate parts of this process.
Providing customers with order status updates and tracking info so they can follow deliveries. Sending confirmation emails when orders ship and arrive aids the customer experience.
Customer Service
Running an online business still requires quality customer service to earn repeat business. Some tips:
-Be readily available to answer customer emails and inquiries. A quick response time builds trust.
-Make returns and exchanges simple for unsatisfied shoppers. This is easier with your own inventory vs dropshipping.
-Seek out product reviews and user-generated content to display on your site to assist buyers with purchasing decisions.
-Create engaging social media content and interactive features on your website to foster a pet-focused community for loyalty. Send periodic emails to subscribers to announce your new products, specials, helpful tips, etc.
The above overview covers the essential steps for entrepreneurs wondering how to start a pet shop online. While launching any new retail business requires significant effort, the rewards of running your own profitable pet ecommerce store can be tremendously fulfilling. Let your passion for pets guide you in offering outstanding service to fellow animal lovers. Sign up FREE for Hana Retail’s pet store POS system today!
