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Dog Training Business Plan


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Do you want to start dog training business?

Executive Summary

Company Summary

Products

Marketing Analysis of Dog Training Business

Strategy

Personnel plan

Financial Plan

 

Do you want to start dog training business?



If you are thinking to start a dog training business, the first and foremost step you must take is preparing a business plan. A comprehensive and detailed business plan is essential for any startup as it provides a roadmap for you to follow. In case you don’t have much knowledge about it, we are providing a sample business plan of a dog training startup, named The Pup Star.



 

Executive Summary


2.1 The Business

The Pup Star will be a licensed and insured dog training business, based in Concord, New Hampshire. The company will be owned by Jeff Smith, a passionate dog lover who has dedicated his life to serving dogs.


Jeff has acquired a beautiful facility on lease at a 5-minutes’ drive from the residential center of the city and has hired a well-known contractor for the purpose of converting it into a training center. The company’s name, selected from a wide list of dog training business names indicates Jeff’s vision: to make every pup a star.



2.2 Management

Jeff has been associated with numerous dog shelters and training centers for the last ten years, that’s why he perfectly knows how to start a dog training business and make it successful. He will hire a small team who will assist him in starting a dog training business as well as operating it later on.



2.3 Customers

The company aims to serve those dog owners who don’t know how to train their pups on their own and those who cannot spare time for this task due to their busy schedule. It will also provide dog training services to dog shelters and dog dealers present in Concord.



2.4 Target of the Company

We aim to become the best dog training center in Concord within the next two years of startup. We also aim to achieve the net profit margin of $10k per month by the end of the first year and then increase it steadily.



 



 

Company Summary


3.1 Company Owner

The Pup Star will be owned by Jeff Smith, a passionate dog lover who volunteered in a local shelter after completing his high school. It was when he discovered his passion for dogs and decided to dedicate his life to serving them. Since then, he has served in numerous dog shelters as well as dog training centers located across the country.



3.2 Why the Business is being started

Jeff discovered his love for dogs around 10 years ago when he volunteered for the first time in a local shelter. It was when he decided to start dog training business of his own. Fast forward to 10 years, Jeff is now all set to make his dream come true and owing to his extensive experience, he knows everything about how to start your own dog training business.



3.3 How the Business will be started

The Pup Star will be a licensed and insured dog training business, based in Concord, New Hampshire. Jeff will be starting his business using the savings that he made during the last 10 years. Though he won’t be needing any loans initially, he still has made arrangements in case the need arises.
Jeff has acquired a beautiful facility on lease at a 5-minutes’ drive from the residential center of the city. To convert the facility into a training center for dogs, the company has hired the services of Williamsons Contractors. The startup expense summary, as highlighted by Jeff’s dog training business plan is as follows:





The detailed start-up requirements, total start-up expenses, total assets, start-up funding, total funding required, total assets, total liabilities, total planned investment, total capital, total capital, and liabilities, as forecasted by company’s analysts, is given below:






Start-up Expenses
Legal$55 300
Consultants$0
Insurance$32 750
Rent$32 500
Research and Development$32 750
Expensed Equipment$32 750
Signs$1 250
TOTAL START-UP EXPENSES$187 300
Start-up Assets$220 875
Cash Required$332 500
Start-up Inventory$32 625
Other Current Assets$232 500
Long-term Assets$235 000
TOTAL ASSETS$121 875
Total Requirements$245 000
START-UP FUNDING
START-UP FUNDING$273 125
Start-up Expenses to Fund$151 875
Start-up Assets to Fund$123 000
TOTAL FUNDING REQUIRED$0
Assets$23 125
Non-cash Assets from Start-up$18 750
Cash Requirements from Start-up$0
Additional Cash Raised$18 750
Cash Balance on Starting Date$21 875
TOTAL ASSETS$373 125
Liabilities and Capital$0
Liabilities$0
Current Borrowing$0
Long-term Liabilities$0
Accounts Payable (Outstanding Bills)$0
Other Current Liabilities (interest-free)$0
TOTAL LIABILITIES$0
Capital$620 125
Planned Investment$620 125
Investor 1$0
Investor 2$0
Other$0
Additional Investment Requirement$0
TOTAL PLANNED INVESTMENT$620 125
Loss at Start-up (Start-up Expenses)$313 125
TOTAL CAPITAL$251 875
TOTAL CAPITAL AND LIABILITIES$251 875
Total Funding$255 000


Products



The Pup Star will serve those people who don’t know how to train their pups on their own and those who cannot spare time for this task due to their busy schedule. In any case, we will always be there to train their pus and convert them into ‘pup stars’. Our primary services, as highlighted by dog training business plan sample are as follows:



  • Dog sitting, eating, and potty training


  • Dog obedience training


  • Guard dog training


  • Service dog training


We will also sell pet related products such as pet foods, shampoos, pet clothes, dog ties, dog chains, etc. so as to provide one-stop service to our customers.



 

Marketing Analysis of Dog Training Business



The most important component of an effective dog training business plan is its accurate marketing analysis because it helps you to know your target customers so that you don’t waste your efforts on others. Considering its importance, the marketing analysis must be done before you think about how to open a dog training business.
Selecting attractive dog training business names can play a great role in attracting your target audience to your business, so make sure to do so after going through the dog training business names ideas available online.



5.1 Market Trends

The pet industry is one of the biggest and fastest growing industries in the US. Pet owners spent more than $60.28 billion in 2015, $66.75 billion in 2016, and $69.36 billion in 2017, according to the American Pet Products Association. These astronomical numbers can indicate how huge the pet market is, and since people don’t hesitate to spend on their animal friends, a dog training business can be immensely profitable.



5.2 Marketing Segmentation

After carrying out thorough research to identify our target customer audience, we have identified the following target groups who have the potential to become our loyal customers in the future.



The detailed marketing segmentation of our target audience is as follows:





5.2.1 Dog Owners:

Two types of dog owners will require the services of The Pup Star: those who don’t know how to train their pups on their own and those who cannot spare time for this task due to their busy schedule. We are highly motivated to serve the needs of both these groups and train their dogs to make them obedient and well-mannered. We will also train service dogs which provide support to the senior citizens.



5.2.2 Animal Shelters

There are thousands of animal shelters scattered across the US who accommodate abandoned, stray, lost, or discarded dogs. These shelters will heavily require our services because they need to have their properly trained so that people can adopt them.



5.2.3 Dog Dealers

Dog dealers also need dog training services because customers prefer to buy a trained dog over an untrained one, that’s why they will also be needing our services.



The detailed marketing segemntaion of our potential customers, as forecasted by financial experts, is outlined in the following table:






Market Analysis
Potential CustomersGrowthYear 1Year 2Year 3Year 4Year 5CAGR
Dog Owners48%22 33432 34443 66552 54466 43210,00%
Animal Shelters32%12 86714 43315 99917 56519 13115,32%
Dog Dealers20%11 43313 34416 55318 74520 54513,43%
Total100%46 63460 12176 21788 854106 1089,54%

5.3 Business Target

We aim to become the best dog training center in Concord within the next two years of startup. Some of our other business targets are as follows:



  • Achieving the net profit margin of $10k per month by the end of the first year, and increaseing it steadily


  • Balancing the initial cost of startup with earned profits by the end of the first two years


  • Launching another center in Concord within the first three years


5.4 Product Pricing

We will be charging our customers slightly lower prices than that of charged by our competitors because we want to introduce ourselves and establish our name in the region.



 

Strategy



After carrying out marketing analysis, the next step for opening a dog training business is to develop an effective sales strategy. It must be innovative so that it attracts and converts your audience into loyal customers. To make one for your own business, you can consult this dog training business plan template or the other sample plans available online.



6.1 Competitive Analysis

Our location will provide an extremely huge competitive advantage to us because no other dog training center is located within a 2-km radius of our facility. Many residents will undoubtedly prefer to leave their dogs with us, instead of traveling to distant areas. Moreover, our competitive rates and exceptional service will also be an enormous competitive advantage. We will be offering transportation services for the purpose of facilitating our customers.



At our training center, we will always have vets available at hand. They will make sure that our customers’ dogs are in the best physical and mental health state. We will make sure that your pup leaves our training center as a well-mannered star.



6.2 Sales Strategy

Some of the ways by which we will be attracting and retaining our customers are as follows. We will be offering attractive packages and discounts for dealers and shelters to boost sales, arranging transportation to facilitate customers, providing special dog training business cards and discounts on referrals, and advertising ourselves through all platforms, especially social media.



6.3 Sales Monthly



 

6.4 Sales Yearly



 

6.5 Sales Forecast

Considering our service quality and the current market demand for dog training services, our sales pattern is estimated to increase with years. Our experts have forecasted following sales.





The detailed information about sales forecast, total unit sales, total sales, as forecased by financial experts, is given in the following table.






Sales Forecast
Unit SalesYear 1Year 2Year 3
Advertising and branding services1 887 0302 680 3202 588 240
Marketing consultation and advisory services802 370815 430823 540
Blogging and specialty services539 3207702301 002 310
Social media profile management services265 450322 390393 320
TOTAL UNIT SALES3 494 1704 588 3704 807 410
Unit PricesYear 1Year 2Year 3
Advertising and branding services$140,00$150,00$160,00
Marketing consultation and advisory services$600,00$800,00$1 000,00
Blogging and specialty services$700,00$800,00$900,00
Social media profile management services$650,00$750,00$850,00
Sales
Advertising and branding services$2 149 800$2 784 000$3 383 200
Marketing consultation and advisory services$120 050$194 500$268 500
Blogging and specialty services$50 110$71 600$93 000
Social media profile management services$139 350$194 600$249 850
TOTAL SALES
Direct Unit CostsYear 1Year 2Year 3
Advertising and branding services$0,70$0,80$0,90
Marketing consultation and advisory services$0,40$0,45$0,50
Blogging and specialty services$0,30$0,35$0,40
Social media profile management services$3,00$3,50$4,00
Direct Cost of Sales
Advertising and branding services$989 300$1 839 000$2 679 700
Marketing consultation and advisory services$66 600$119 900$173 200
Blogging and specialty services$17 900$35 000$52 100
Social media profile management services$19 400$67 600$115 800
Subtotal Direct Cost of Sales$1 294 100$1 699 400$2 104 700


Personnel plan



A personnel plan will help you with your staffing needs, so make sure to make it a part of your business plan even if you are starting a dog training business from home.



7.1 Company Staff

Jeff will manage the center himself and will hire a small team to assist him with the operations. The following staff will be hired on contract basis:



  • 1 Accountant for maintaining financial records.


  • 1 Front Desk Officer for serving as receptionist.


  • 2 Sales and Marketing Executives for dealing with dog dealers, animal shelters, and for discovering new avenues.


  • 10 Dog Trainers for the purpose of training dogs accordingly.


  • 2 Drivers for transportation of dogs.


7.2 Average Salary of Employees

The following table shows the forecasted data about employees alongside their salaries for next three years’ durations.






 Personnel Plan
Year 1Year 2Year 3
Accountant$85 000$95 000$105 000
Front Desk Officer$50 000$55 000$60 000
Sales and Marketing Executives$187 000$194 000$201 000
Dog Trainers$450 000$455 000$465 000
Vets$245 000$252 000$259 000
Drivers$85 000$95 000$105 000
Total Salaries$695 000$707 000$724 000


Financial plan



The final step for you is to prepare a detailed financial plan of your business, covering all costs involved with your startup. Be it the cost of rent or inventory, the overhead expenses or the salaries of staff, the financial plan must include each and every financial aspect of your business.



It indicates the growth of your business as well as reveal if you are going in the right direction. Once you make it, you will easily know how to set up a dog training business and make it successful as well as profitable.



8.1 Important Assumptions

The financial projections of the startup are forecasted on the basis of the following assumptions. Even though these assumptions can show a slight deviation, the major financial strategy of the company will still not be affected.






 General Assumptions
Year 1Year 2Year 3
Plan Month123
Current Interest Rate10,00%11,00%12,00%
Long-term Interest Rate10,00%10,00%10,00%
Tax Rate26,42%27,76%28,12%
Other000


8.2 Brake-even Analysis






 Brake-Even Analysis
Monthly Units Break-even5530
Monthly Revenue Break-even$159 740
Assumptions:
Average Per-Unit Revenue$260,87
Average Per-Unit Variable Cost$0,89
Estimated Monthly Fixed Cost$196 410

8.3 Projected Profit and Loss



 Pro Forma Profit And Loss
Year 1Year 2Year 3
Sales$309 069$385 934$462 799
Direct Cost of Sales$15 100$19 153$23 206
Other$0$0$0
TOTAL COST OF SALES$15 100$19 153$23 206
Gross Margin$293 969$366 781$439 593
Gross Margin %94,98%94,72%94,46%
Expenses
Payroll$138 036$162 898$187 760
Sales and Marketing and Other Expenses$1 850$2 000$2 150
Depreciation$2 070$2 070$2 070
Leased Equipment$0$0$0
Utilities$4 000$4 250$4 500
Insurance$1 800$1 800$1 800
Rent$6 500$7 000$7 500
Payroll Taxes$34 510$40 726$46 942
Other$0$0$0
Total Operating Expenses$188 766$220 744$252 722
Profit Before Interest and Taxes$105 205$146 040$186 875
EBITDA$107 275$148 110$188 945
Interest Expense$0$0$0
Taxes Incurred$26 838$37 315$47 792
Net Profit$78 367$108 725$139 083
Net Profit/Sales30,00%39,32%48,64%

8.3.1 Profit Monthly



8.3.2 Profit Yearly



8.3.3 Gross Margin Monthly



 

8.3.4 Gross Margin Yearly




 

8.4 Projected Cash Flow








 Pro Forma Cash Flow      
Cash Received Year 1 Year 2 Year 3
Cash from Operations      
Cash Sales $40 124 $45 046 $50 068
Cash from Receivables $7 023 $8 610 $9 297
SUBTOTAL CASH FROM OPERATIONS $47 143 $53 651 $59 359
Additional Cash Received      
Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
SUBTOTAL CASH RECEIVED $47 143 $53 651 $55 359
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations      
Cash Spending $21 647 $24 204 $26 951
Bill Payments $13 539 $15 385 $170 631
SUBTOTAL SPENT ON OPERATIONS $35 296 $39 549 $43 582
Additional Cash Spent      
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0
Purchase Other Current Assets $0 $0 $0
Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
SUBTOTAL CASH SPENT $35 296 $35 489 $43 882
Net Cash Flow $11 551 $13 167 $15 683
Cash Balance $21 823 $22 381 $28 239


8.5 Projected Balance Sheet




 Pro Forma Balance Sheet      
Assets Year 1 Year 2 Year 3
Current Assets      
Cash $184 666 $218 525 $252 384
Accounts Receivable $12 613 $14 493 $16 373
Inventory $2 980 $3 450 $3 920
Other Current Assets $1 000 $1 000 $1 000
TOTAL CURRENT ASSETS $201 259 $237 468 $273 677
Long-term Assets      
Long-term Assets $10 000 $10 000 $10 000
Accumulated Depreciation $12 420 $14 490 $16 560
TOTAL LONG-TERM ASSETS $980 $610 $240
TOTAL ASSETS $198 839 $232 978 $267 117
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities      
Accounts Payable $9 482 $10 792 $12 102
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
SUBTOTAL CURRENT LIABILITIES $9 482 $10 792 $12 102
Long-term Liabilities $0 $0 $0
TOTAL LIABILITIES $9 482 $10 792 $12 102
Paid-in Capital $30 000 $30 000 $30 000
Retained Earnings $48 651 $72 636 $96 621
Earnings $100 709 $119 555 $138 401
TOTAL CAPITAL $189 360 $222 190 $255 020
TOTAL LIABILITIES AND CAPITAL $198 839 $232 978 $267 117
Net Worth $182 060 $226 240 $270 420


8.6 Business Ratios




 Ratio Analysis        
  Year 1 Year 2 Year 3 INDUSTRY PROFILE
Sales Growth 4,35% 30,82% 63,29% 4,00%
Percent of Total Assets        
Accounts Receivable 5,61% 4,71% 3,81% 9,70%
Inventory 1,85% 1,82% 1,79% 9,80%
Other Current Assets 1,75% 2,02% 2,29% 27,40%
Total Current Assets 138,53% 150,99% 163,45% 54,60%
Long-term Assets -9,47% -21,01% -32,55% 58,40%
TOTAL ASSETS 100,00% 100,00% 100,00% 100,00%
Current Liabilities 4,68% 3,04% 2,76% 27,30%
Long-term Liabilities 0,00% 0,00% 0,00% 25,80%
Total Liabilities 4,68% 3,04% 2,76% 54,10%
NET WORTH 99,32% 101,04% 102,76% 44,90%
Percent of Sales        
Sales 100,00% 100,00% 100,00% 100,00%
Gross Margin 94,18% 93,85% 93,52% 0,00%
Selling, General & Administrative Expenses 74,29% 71,83% 69,37% 65,20%
Advertising Expenses 2,06% 1,11% 0,28% 1,40%
Profit Before Interest and Taxes 26,47% 29,30% 32,13% 2,86%
Main Ratios        
Current 25,86 29,39 32,92 1,63
Quick 25,4 28,88 32,36 0,84
Total Debt to Total Assets 2,68% 1,04% 0,76% 67,10%
Pre-tax Return on Net Worth 66,83% 71,26% 75,69% 4,40%
Pre-tax Return on Assets 64,88% 69,75% 74,62% 9,00%
Additional Ratios Year 1 Year 2 Year 3  
Net Profit Margin 19,20% 21,16% 23,12% N.A.
Return on Equity 47,79% 50,53% 53,27% N.A.
Activity Ratios        
Accounts Receivable Turnover 4,56 4,56 4,56 N.A.
Collection Days 92 99 106 N.A.
Inventory Turnover 19,7 22,55 25,4 N.A.
Accounts Payable Turnover 14,17 14,67 15,17 N.A.
Payment Days 27 27 27 N.A.
Total Asset Turnover 1,84 1,55 1,26 N.A.
Debt Ratios        
Debt to Net Worth 0 -0,02 -0,04 N.A.
Current Liab. to Liab. 1 1 1 N.A.
Liquidity Ratios        
Net Working Capital $120 943 $140 664 $160 385 N.A.
Interest Coverage 0 0 0 N.A.
Additional Ratios        
Assets to Sales 0,45 0,48 0,51 N.A.
Current Debt/Total Assets 4% 3% 2% N.A.
Acid Test 23,66 27,01 30,36 N.A.
Sales/Net Worth 1,68 1,29 0,9 N.A.
Dividend Payout 0 0 0 N.A.



 
 

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