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Value Drivers for a Pet Training, Grooming, and Boarding Business

Value Drivers for a Pet Training, Grooming, and Boarding Business

COVID-19 was hard for many industries, including the pet training, grooming, and boarding industry. Due to travel restrictions, consumers were able to spend more time caring for their pets. This led to a decrease in demand for pet care services. However, while the pandemic disrupted industry growth, it inspired many people to buy pets. Due to this increase in pet ownership, demand for pet care in the years following 2020 has spiked. As this upward trend continues, there is potential for high revenue growth. If you are looking to enter this industry, these conditions are ideal. Nonetheless, the pet training, grooming, and boarding industry are extremely competitive. For this reason, it is helpful to understand key value drivers for a pet training, grooming, and boarding business.

In this article, we share several value drivers for a pet training, grooming, and boarding business. These factors can help pet training, grooming, and boarding businesses stand out. This is very important in such a competitive industry. Receiving a business appraisal for a pet grooming business is the best way to understand these principles. Peak Business Valuation, business appraiser, is happy to provide guidance on valuing a pet grooming, training, and boarding business. Start today by scheduling a free consultation with Peak.

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Key Value Drivers for a Pet Training, Grooming, and Boarding Business

Below we discuss five key value drivers for a pet training, grooming, and boarding business. These principles can help operators overcome obstacles. However, these are only brief descriptions. For thorough guidance, receive a business valuation for a pet grooming, training, and boarding business. During a valuation, experts assess your business and offer guidance accordingly. This can have a great impact on the value of a pet training, grooming, and boarding business. Peak Business Valuation, business appraiser, is happy to answer questions on valuing a pet grooming, training, and boarding business. Schedule a free consultation today! For more information see Valuing a Pet Training, Grooming, and Boarding Business, Valuation Multiples for a Pet Training, Boarding, and Grooming Business, and How to Value a Pet Training, Boarding, and Grooming Business.

Quality Control

For pet owners, finding the right pet training, grooming, and boarding business is like finding a good hotel. They want to ensure that their pets will be comfortable and safe. For this reason, it is important for operators to provide high-quality service. This can be done through good management and implementing strict hygiene standards. Not only is the physical health of pets important, but so is their mental health. Operators should aim to foster a stress-free, pet-friendly environment. In turn, customers will have more trust in your pet training, grooming, and boarding business. This builds your reputation which in turn increases the value of a pet training, grooming, and boarding business

Skilled Team

Additionally, having a strong workforce promotes a high-quality experience for pets. This value driver increases the reputation of a pet training, grooming, and boarding business. When hiring employees, operators should look for qualified individuals who care about animals. A skilled team can improve efficiency and foster a luxury environment. In turn, customer satisfaction will increase which can lead to repeat business and referrals. These factors have an impact on the value of a pet training, grooming, and boarding business. Building a strong team can be hard in this industry. When a business appraiser at Peak Business Valuation is valuing a pet training, grooming, and boarding business they assess the strength of your team. For questions, schedule a consultation

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Location

Next, your location is one of the most important value drivers for a pet training, grooming, and boarding business. Pet training, grooming, and boarding businesses should be close to dense populations with a high pet ownership rate. Making your business accessible to these customers can help increase sales revenue. If your establishment is too far from this key market, you may have low customer traffic. This is detrimental to a pet training, grooming, and boarding business. However, strong SEO can help alleviate this factor. A good location also gives a competitive advantage. Peak Business Valuation, business appraiser, considers location during a business valuation for a pet grooming, boarding, and training business. To learn more, schedule a free consultation

Differentiation

Pet training, grooming, and boarding businesses need to differentiate from competitors to succeed. According to IBIS World, there are no major players in the pet training, grooming, and boarding industry. This means that consumers have many options to choose from when searching for pet training, grooming, and boarding services. To stand out, you may consider offering additional services such as training and playtime. You could also find ways to allow customers to check on their pets while they are away. By offering different, creative services, your pet training, grooming, and boarding business stands out. This increases the value of a pet training, grooming, and boarding business. 

Online Presence

Last, having a website or Google My Business page can increase business opportunities. A website is also a great place for customers to book and pay for services or leave reviews. Another effective way to use the internet is to use apps like Wag and Rover to expose your pet training, grooming, and boarding business to a larger market. Ultimately, having a strong online presence increases customer outreach. This boosts profitability and revenue which in turn increases the value of a pet training, grooming, and boarding business. During a business appraisal, Peak Business Valuation can help you understand how to use an online presence to your advantage.

To learn more about online presence, see The Value of SEO.

Summary 

There are many value drivers for a pet training, grooming, and boarding business. In a competitive industry like this one, it is important to understand these factors. This allows you to differentiate your pet grooming, training, and boarding business and increase revenue. You can learn more during a business valuation for a pet training, grooming, and boarding business.

Valuation experts are trained to determine how businesses can grow. With this, you can take steps to increase the value of a pet training, grooming, and boarding business. Peak Business Valuation, business appraiser, works with pet training, boarding, and grooming businesses across the country. We are happy to provide a valuation and answer any questions on valuing a pet grooming, boarding, and training business. To start, schedule a free consultation below!

 

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