10 Questions you need to ask when considering joining the Pet Industry
Do you have a great idea but don’t know where to start? Here’s the top 10 things we think you should consider when thinking of joining our industry.
1.What exactly IS your business?
Have a clear understanding of the product or service you are providing. Have you done market research? Have you looked into who your competitors are? By doing this you will gain a better understanding of what you need to offer in your business to ensure success.
2.Should you join an Industry Group?
The Pet Industry Association is the only industry association in Australia created to represent all businesses in the pet industry. Formed in 1979 as the PIJAC, we have evolved into a peak organisation which aims to create an environment of best practice principles and ongoing learning for improved technology and systems in the pet industry. Joining an industry group early in your planning for your business allows you to access help, find mentors, get important industry information and meet successful business people in the industry. By joining PIAA you will also have access to events and industry networking opportunities.
3.Have you got a plan?
Unless your business is going to be a hobby business, a business plan is a good idea. Business plan templates can be found on the net, or from your accountant and TAFE students can also access a business planning kit. Not much good starting a business if it’s not going to pay for itself (and pay you too!). CLICK HERE for some useful links.
4.Can you fund it?
You need to be realistic about how much a business will cost you. Do you need to rent space, a shop front or to employ staff? Do you have insurance and can you live without an income. These are all questions you need to ask yourself and we suggest you seek a financial planner to assist you in making these decisions and mapping out a financial plan.
5.Are you creating a business or going out on your own?
There is an easy to follow analysis of the different company structure by CLICKING HERE. You need to talk to an accountant about how to best structure your business. It’s important to get this right at the beginning to avoid headaches down the track. Remember, you might start off small but with all going well you will grow! Also talk to your accountant about setting up bank accounts and how to manage cash flow plus the purchase of any equipment you might need. Also run through the insurances applicable to your business. This is a necessity, not a luxury!
6.Have you registered your name?
You can check if your preferred name is already taken by searching the ASIC website www.asic.gov.au and search company names, BUT the name may also be registered by Fair Trading in your state, so you should check there too. If you want to look up whether or not a particular business name has been used, you can use the ABN Lookup took CLICK HERE
7.Have you got council approval?
Local Councils have so many and varied requirements that many businesses can go out of business before they really get started. Simply visit your local council or engage the help of a local Town Planning Consultant.
8. Do you need any special licenses?
The best way to find out which operating licences you need is to visit the Business Licence Information Service (BLIS) website for your State:
Not all states and territories have full information as they are moving over to the BLIS (ACT data can be a bit circular) but start out BY CLICKING HERE. If you need more information, most of the state and territory pages have direct contact email addresses.
9.What Codes apply?
Depending on the state/territory, there are Codes of Practice (mandatory or not) for Boarding establishments, Pet retail establishments, Gooming Salons, Pet Transport and Breeding as well as water management codes in ACT and Qld.
TAS – CLICK HERE WA – (no relevant Codes at this time).
10.Have you thought about your branding, website and social media platforms?
You need to have a brand that reflects your product or service. With over 90% of new business coming from the web a website is the best way to start communicating that brand whether it’s business to business or business to consumer.
PIAA has access to a range of marketing, promotion and website deals as part of the member benefits scheme. Simply contact us to find out how we can help.