Are You Implementing These Money-Making Moves In Your Local Pet Business?

It’s Money May for pet businesses here at Pet Boss Nation!

Here’s your chance to make smart money moves to set your pet business up for a strong summer—especially during the “J” months that often bring a lull in activity. Instead of feeling the Slow Month Scaries vibes, you can implement the following strategies to manage money and get the cash registers ringing in your pet retail store (or whatever kind of pet business you run! These tips can be applied in various ways!)

So here are five ways to manage and make more money in your local pet business this month:

1. Bump up your prices!

You might be thinking, “Won’t raising prices drive away customers?”

That’s your fear talking.

Listen to the facts. Small, strategic price adjustments in your pet retail store or pet business can make a BIG difference in your bottom line. A dollar or two here and there add up fast. Even rounding up prices to the next whole dollar can significantly impact your profits over the year.

Best of all, your customers won’t even feel minor price tweaks. But collectively, these barely noticeable increases across all your offerings translate into serious gains for your local pet business!

2. Make your space work harder!

Every grooming table, daycare spot, and kennel space is a money-maker—put them to work by knowing your capacity.

Can you squeeze in a few more appointments? Figure out the maximum number of pets you can realistically serve.
Are there any underutilized areas or time slots that could be repurposed to accommodate more clients or provide additional services? (For example: Lack of groomers shouldn’t mean empty tables. Offer nail trims or bath-only services during those times.)
Have extra daycare or kennel openings on certain days? Fill them up by running introductory promos to get people in the door.
Is there space on the retail floor you’re not utilizing? Add overstock items, a sale section, or highlight seasonal items in that area. Square footage = $.

Get creative about squeezing every bit of dollar out of every square inch (or every schedule hole!) of your pet business.

3. Inspect your inventory.

Got overstocked items?

While having plenty of inventory on hand might seem like a good idea, that’s money just sitting on your shelves. Put those slow-movers on sale so you can turn them into cash-flow generators instead of dust collectors. Ideally, nothing should stay unsold for a year; aim to sell through your stock every 90 days.

Need to plan some sales or promotions to move inventory? We’ve got you covered! Consider planning NOW for a Fifth Saturday Sale in June, or pull some more ideas from this events blog!

4. Get a better deal!

It pays to negotiate—literally!

First, audit your agreements. Do a thorough review of your existing contracts to pinpoint areas where there’s room for negotiation.
Next, reach out and inquire. Your suppliers, credit card companies, and other service providers might be able to work out favorable prices, interest rates, payment terms, or volume discounts for bulk orders. (But remember, don’t buy more than you need. See #3.)

It never hurts to ask. Otherwise, you’ll never know if you’re missing out on ways to improve the flow of money coming in and out of your local pet business.

5. Add just one more thing.

Customers who walk through your door are already interested in what you offer. Why not give them a little something extra that adds value to your revenue? Train yourself and your team always to think, “What’s one more thing we can offer?”

If a customer comes in for a basic grooming service, suggest an add-on or an upgrade to a deluxe spa package with all the bells and whistles. Or if they’re stocking up on pet food, recommend a new, nutritious treat at checkout.

Simply put, pay close attention to your pet business customers’ interests and needs. Anticipate opportunities and be proactive. That’s your secret to successful upselling.

**Make more money in your local pet business beyond May.**

1. Beat the summer slump.

Plan early on how to attract customers during the typically slow “J” months (June and July). Think frozen treats pop-up shops or fun events like yappy hour and pup-sicle parties!

2. Manage money like a Pet Boss.

Calculate your monthly “gotta-have” number (a.k.a. break-even point or the minimum needed to keep your business afloat). Set up separate bank accounts for everyday expenses, sales tax, and business savings. Finally, make “Money Mondays” (or pick your favorite day!) a thing. This is your dedicated time to check how things are flowing and tackle any financial issues. Read more about managing your money like a Boss here!

Start putting these make-more-money strategies into play this May, and don’t wait for the dreaded “J” months to drag you down. When you focus on increasing your local pet business cash flow and managing money NOW, you’ll get a leg up on better summer days (and beyond)!

Throwback Boss Your Business Podcast episode→Episode 41: How Can You Generate Recurring Revenue In Your Pet Business?

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