Pet Nannie Care N Grooming Overview

1. Executive Summary

Located at Tring, Hertfordshire, UK, Pet Nannie Care N Grooming is a family owned start-up business that offers a wide range of dog and pet related services at the affordable price. Some of the main services offered by Pet Nannie Care N Grooming include in-house pet nail care, health check-up, body care and grooming. Besides, it also offers pet foods and also has open plays for pet. In addition, to these services, Pet Nannie Care N Grooming provides pet friendly atmosphere wherein each pets are comfortable. More importantly, Pet Nannie Care N Grooming has hired experienced pet groomers and vet technicians to ensure quality and satisfactory services are offered to pet owners.

2. Vision Statement

The vision of Pet Nannie Care N Grooming is to s to establish a highly good and effective dog and pet grooming services business that will emerge as the most preferred choice for the pet owners in London and the whole of the United Kingdom.

3. Mission Statement

Pet Nannie Care N Grooming has very strong mission statement that is to deliver the superior quality pet care and grooming services at affordable prices. Pet Nannie Care N Grooming envisage to become a leading pet care and grooming brand in the UK.

4. Ownership

Pet Nannie Care N Grooming is a family owned business venture by Mr. Steven Gundry and his wife Stella Gundry

5. Product and Services

Pet Nannie Care N Grooming offers an extended range of pet related services within a scope of the pet industry in the United Kingdom. The key purpose of the business is to help pet owners leave their pets while at work or away for their weekend vacation. It also offers pet care services like feeding and exercising, grooming as well as low level veterinary services. It addition, the new venture also offers pet related products such as pet foods, shampoos, dog tie, dog chains, and pet clothes among others.

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Market Analysis

Target Customers and Market Segmentation

The primary target customers of Pet Nannie Care N Grooming are the pet owners who have disposable income as well as the professionals who have desire to provide quality care to their pet while they are busy in their work. Pet Nannie Care N Grooming offers its target customers with an ideal alternative to the kennel. After conducting a thorough research on the issue related to people who would need pet related care and grooming services, it has been deducted that in UK, particularly in and around London a large number of pet owners have strong desire to provide their digs and pet with quality care and grooming services. As far as market segmentation is concerned, the market for the dog and pet grooming is segmented into two groups that include corporate and individual clients.

Market Characteristics & Revenue Potential

Dog and pet care and grooming services are observed to be one of the rapidly growing business domains in the UK. It has been noted that increasing numbers of people including a quarter of pet owner in the UK love to pamper their dogs and pet and treat them like human (Independent Insurance Bureau Ltd, 2018). Moreover, it is estimated that that there are 8.5 million dogs in the UK (refer table 1).

Regional Dog Population 2016

Animal-loving people in the UK are estimated to spend more than $10 million a year on the dogs while 66% of the pet owners are ascertained to buy variety of pet related products and services. At the same time, it has been observed that there is a huge craze for dressing dogs and pets in the UK and pet owners spend average $ 259.64 a year on the purchase of clothes for their pets (GroomArts, 2018). In fact it has been noted that 32% of the pet owners buy gifts and other items more often for their pets than their parents (PMFA Annual Report 2014). Clearly, there is huge revenue potential for start-up-business like Pet Nannie Care N Grooming that intends to venture in the pet care and grooming industry in the UK and attain quick expansion and growth while earning reasonable profit for its operations.

Competition

Given the huge opportunity existing in the pet care and grooming industry in the UK, there are numbers of competitors which are already operating in the pet care industry. Some of the major competitors operating in the pet care industry include Nestle Purina Pet Care (UK) Ltd, The Natural Pet Toy Company Ltd, The Canine Care Company and The Dog Bed Company. Thus, it can be argued that Pet Nannie Care N Grooming more likely to face stiff competition from its competitors operating in the given market. Notably, in such a competitive market, it is crucial for Pet Nannie Care N Grooming to differentiate its services with that of its competitors. Correspondingly, Pet Nannie Care N Grooming position itself as a superior alternative to the kennel in Tring, Hertfordshire, UK. In order to compete effectively, Pet Nannie Care N Grooming offers better facilities along with more personalised care than any other pet service providers. Besides, Pet Nannie Care N Grooming has trained professionals who are well aware of the specific needs of pets.

Operational Plan

Pet Nannie Care N Grooming is located at Located at Tring, Hertfordshire in a close proximity to London city. The location of the new business is favorable as outskirt of London city and people can easily reach to Pet Nannie Care N Grooming avail services. Besides, the pet care and grooming has adequate open space for pets to play and well-built infrastructure to support the superior quality pet care and grooming facilities. Moreover, there are several UK-based suppliers of pet related equipment and utilities. Accordingly specific vendor will be chosen for procuring the equipment other pet related items. At the same time, adequate attention will be laid on procuring quality products to be used for pet grooming in order to eliminate any sort of customer complaint. Moreover, low level of inventory will be maintained as it will help reducing the cost of financing, handling as well as storage. However, low level of inventory can cause stock out problem, which may negatively influence the operation of the pet care. Hence, cordial relationship will be maintained with the suppliers and effective coordination will be established with the suppliers so that materials and goods are arrived as per the schedule. Pet Nannie Care N Grooming also has chief executive officer, vet technicians, dog groomers. Accordingly, Mr. Steven Gundry and his wife Stella Gundry both will act as chief executive officers who will be responsible for recruiting, selecting as well as communicating objectives and strategies. Vet technician will be hired to provide basic dog treatment and for vaccination while dog groomer will be responsible for dog washing, nail care, and body care among others.

Sustainability and Corporate Social Responsibility

The concept of sustainability and CSR has emerged as one of the most important themes in the current business environment. Researchers and business practitioners have strongly advocated the importance of integrating sustainability and CSR in the business practices in order to long term profitable survival of the business (Petrini & Pozzebon, 2010). Accordingly, Pet Nannie Care N Grooming will actively demonstrates its commitment towards sustainability as a pet care and grooming service business by integrating sustainability in its business practices and involving in various environmental and social welfare programs whenever possible. Pet Nannie Care and Grooming as responsible social organizations will hold accountable to highest standard by catering the needs of its valuable customers. Moreover, it will also create a working environment that will provide a sustainable approach for living to all those individuals and partners associated with our business.

Financial projections and schedules

a. Marginal costing model with break-even analysis

The following table and charts indicates the marginal cost statement with breakeven analysis. Accordingly, for the break even analysis, total monthly fixed cost is assumed to be $5,600.00, and average per unit variable cost at $6. On the other hand, average per unit revenue is estimated at $32. Moreover, monthly incremental unit of 150 is estimated. The analysis depicts break even in the third month of the operations.

Estimated Fixed and variable cost Estimated total costs and Total sales Estimated total costs and Total sales Marginal cost Statement Break-Even Point

b. Sales forecast

The following table demonstrates the sales forecast for the first three years after th establishment of Pet Nannie Care and Grooming. It is expected that the first years the sales of the services will be lower but will gradually increase as the business matures.

Sales Forecast Sales Forecast Sales by Year

c. Cash budget – 3 years monthly statements, i.e. 36 months

The table below depicts the projected cash flow of for Pet Nannie Care N Grooming for the first three years (36 months). The cash flow statement below indicates that Pet Nannie Care N Grooming is able to generate positive cash flows and sufficient reserves.

Projected Cash Flow Projected Cash Flow Projected Cash Flow Projected Cash Flow Projected Cash Flow Projected Cash Flow Projected Cash Flow Order Now

d. Income statements (profit and loss accounts) – 3 years annual statements

The table below depicts the projected income statement for Pet Nannie Care N Grooming for the first three years of its operations. Accordingly, it is expected that the first year the business is likely to suffer loss but will starts earning profit from the second year with the increase in the customer base.

Income Statement (Profit and Loss Account)

Projected Income statements Projected Income statements
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e. Statements of financial position (balance sheets) – 3 years annual statements

The table below indicates the projected balance sheet for the first three years of operation. It is expected that Pet Nannie Care N Grooming will be able to achieve healthy growth in its net worth and stable financial position.

Project Balance Sheet Project Balance Sheet
References

Petrini, M. & Pozzebon, M. (2010). Integrating Sustainability into Business Practices: Learning from Brazilian Firms. Brazilian Administration Review, 7(4), 363-378.

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