Action Step 10.3 (cover page)

Phantastic Dog Grooming

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Cleanliness is DOG-liness
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BUSINESS PLAN

Business Plan Prepared By

P.T.
Enter your full name
Groomer and Consultant
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Phantastic Dog Grooming
Enter the company name
XXX Oceanside Avenue
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Oceanside, CA 92057
Enter city, state, and zip code
760-509-4845
Enter the phone/fax number(s) phantasticcleandog@gmail.com Enter your e-mail and Web addresses

Date Prepared

Enter month and year

June 18, 2012
Table of Contents

Action Step 10.3 (table of contents)

The page numbers on the table of contents are inserted automatically but need to be updated as you add to your plan. Click on the page number, or select all page numbers, and press F9 to update. Updating the Table of Contents will eliminate the hidden links to the Action Steps and any formatting you have added. After you update the TOC automatically, you may want to format the type so it looks as you prefer.

Executive Summary 1

Management and Organization Plan 2 Legal Form of Business 2 Management Team 2 Board of Directors/Advisory Board 2 Recruitment and Selection of Employees 2 Compensation and Ownership 2 Employee Reward and Incentive Plan 2 Communication 2 Infrastructure 2

Product / Service Plan 3 Purpose of Product/Service 3 Features and Benefits 3 Stage of Development 3 Product/Service Limitations 3 Product/Service Liability 3 Production 3 Facilities 3 Suppliers 3 Related Products/Services and Spin-Offs 3 Trademarks, Patents, Copyrights, Licenses, Royalties 3 Governmental Approvals 3

Marketing Plan 4 Industry Profile 4 Current Size 4 Growth Potential 4 Industry Trends 4 Other Characteristics 4 Distribution Channels 4 Competitive Analysis 5 Direct Competition 5 Indirect Competition 5 Future Competition 5 Competitive Analysis 5 Market Analysis 6 Target Market Profile 6 Customer Profile 6 Future Markets 6 Pricing 7 Pricing Strategy 7 Price List 7 Pricing Policies 7 Market Penetration 8 Company Image 8 Customer Service 8 Location 8 Direct Sales Force 8 Sales Representatives 8 Licensing or Distributors 8 Advertising and Promotion 8 Publicity 8 Telemarketing/Direct Mail 8 Internet 8 Trade Shows 8 Market Penetration Effectiveness 8

Financial Plan 9 Start-Up Costs 9 Sales Projections 9 Income Projections 9 Cash Requirements 9 Sources of Financing 9 Exit Strategy 9 Projected Financial Statements 9 - Monthly Cash Flow Report (for three years) 9 - Year-End Income Statement 9 - Year-End Balance Sheet 9 - Ratio Analysis 9

Appendix 10
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Executive Summary

Action Step 10.2 Executive Summary Questions

Venture Description What business is your venture in, and what is the current stage of development? Current stage of development may be start-up, initial operations, expansion, rapid growth, or stable operations. Briefly describe your business model. What is unique about the product/service, and what proprietary rights does the business have?
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Management and Organization Plan
What form of organization does the business operate under, and why? Who are the key management team members and what skills do they have to help the business? Who are the key support groups for your management team, including accountants, attorneys, consultants, board of directors, and advisory board members?
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Marketing Plan
What is the market like in terms of the industry, the customer, customer needs, product benefits, the venture’s target markets, and the market penetration plan? Who are the major competitors, and what are their strengths and weaknesses? What are your market penetration plans? Include specific facts and figures from your market research.
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Financial Plan
What will it cost to start this business? What are the projections for sales and net profit? How much cash will be needed to start and operate this business? What sources of financing have been, and will be, sought? How much money has been contributed by the entrepreneur? What is your exit strategy?
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Management and Organization Plan

Action Step 7.1 Management and Organization Questions

Legal Form of Business

What legal form has been selected? What are the major reasons for this selection? What is the state of incorporation (corporations) or organization (LLCs)? In which states will it be necessary to be authorized to do business? Some legal forms allow for special elections for tax purposes. What, if any, tax treatment elections will you request?
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Management Team

What is the contribution of the entrepreneur? Who are the key management team members, and what are their job descriptions and prior experiences? What offices or titles, such as president or chief financial officer, will each hold? What experience and qualifications are desired for future management positions? When and how will these be filled?
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Board of Directors/Advisory Board

Who are the board of directors or advisory board members? Include names, compensation, and any ownership in the company. What are their qualifications related to the business?
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Recruitment and Selection of Employees

What is your plan to find and hire self-motivated people for your business? What are the required qualifications, the duties to be performed, and the interview and hiring guidelines to be followed?
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Compensation and Ownership

What is the compensation package for the entrepreneur and other key management team members? What are their salaries, benefits, and bonuses? What portion of the business is owned by the entrepreneur and management team?
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Employee Reward and Incentive Plan

What system for employee rewards and incentives will be in effect? What is the incentive plan? Include special recognition awards, lump sum awards, bonuses, stock options, profit sharing, deferred compensation, commissions, team work, and flexible hours.
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Communication

How will you communicate your business values and expectations? What system will you use to assure clarity of communication throughout your business?
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Infrastructure

Who are the key advisers? Include names and compensation of accountants, lawyers, bankers, and consultants. What expertise will they provide? Include strategic alliances, computer technology, management, marketing, and specialists in product or service issues.
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Product / Service Plan

Action Step 4.1 Product/Service Questions

Purpose of Product/Service

What is the purpose of the product/service? How does the product/service benefit the customer? Does it solve a problem or address an opportunity? Is it a luxury item or a needed good?

Provide Convenience and Ease for Our Customers

Phantastic Dog Grooming is served from a mobile grooming van to bring dog hygienic care to our customers at their home or business. The mobile concept makes it convenient for owners to have their dogs groomed more easily. It also provides a more pleasant experience for dogs that are nervous of traveling or being in unfamiliar spaces because they will not be leaving their familiar home environment.

Build a Foundation for Healthier Dogs

We wash and groom dogs from nose to tail with the focus of making them healthy again. The goal of each wash and groom session is to establish a renewed and healthy foundation of skin, fur, nails, and ears for the dog and to educate owners on dog care practices that promote healthy conditions for a happy dog.

Features and Benefits

What are the unique features of the product/service, such as cost, design, quality, and capabilities? What benefits does the customer receive? What problem is solved for the customer?

Mobile Concept

Since we are a mobile dog grooming business, we cater specifically to our customers by coming to their home or business. We groom exclusively in our clean, functional, and spacious van that was specially designed to safely be staged in a neighborhood driveway or street.

Self-Sustaining Service

Most mobile groomers require customers to share their water and electricity in order to run the grooming and washing tools and equipment while on site. Phantastic Dog Grooming is self-sustaining with its own adequate water and electricity supply, without needing to use a customer’s utilities and unnecessarily gaining from the customer!

Organic and Trusted Brand Name Products

We provide quality care and a selection of organic pet hygiene products in addition to our customers’ trusted brands to wash and fluff their dogs. Whether their dogs have sensitive skin or overgrown splayed nails, we have products and tools to handle it all so that their furry friends will be healthy again.

Stage of Development

What is the history of product/service development? At what stage of development is the product/service (model stage, working prototype, small production runs, full manufacturing/ production, or other)? When do you plan to achieve other stages of development? At what life cycle stage is the product/service (conception, introduction, growth, maturity, innovation, or decline)?

Phantastic Dog Grooming is currently in its planning stage. Purchase and procurement of a grooming van and supplies will occur spring 2013. Marketing will begin early spring 2013.

Product/Service Limitations

What are the inherent product/service limitations, if any? Include perishability, limited shelf life, installation needs, legal restrictions, staff availability, or other relevant limitations.

Since the service is provided in a grooming van typically set up in a customer’s driveway or on the street, we can service one customer at a time. Because of the limited number of customers per hour, growth of the business with just one grooming van is limited to one or two staff members.

Product/Service Liability

What are the liabilities this product/service may pose? What are the insurance requirements and costs? What other factors may reduce or eliminate product/service liability?

Humans are not our only customer – dogs are, too. Since we work directly with dogs, it is important that our groomers are trained and certified to understand dog behavior and proper dog handling techniques to ensure both dog and groomer are safe in the grooming process and space. These education and experience-based requirements for staff will reduce service liability.

Requirements of Phantastic Dog Grooming employees:

• High School Diploma (I would only hire 18 and older)

• Completed at least one year of grooming apprenticeship OR received certification in pet grooming from a state-approved dog grooming school

• Strong customer service, communication, and motor skills (answer phones, schedule appointments and communicate canine health information to customers because part of the business is providing healthcare tips to customers for healthier dogs)

• Must love dogs!

All dogs desiring service must be current with their vaccinations; customers will need to provide proof of vaccinations prior to the scheduled appointment.

Phantastic Dog Grooming also requires customers to sign a waiver of liability form (TBD).

Phantastic Dog Grooming provides dog grooming training to staff on site. The training program consists of X hours of observation and X hours of hands-on training with an experience dog groomer.

Production

What is the production process? How much will be produced internally, and how much of the production will be subcontracted out? What are the costs and services involved with subcontracting? Who are the backup subcontractors; what are their costs, and who supplies the services? Include shipping, billing, inventory, stocking, and payment terms.

Client dogs are serviced by Phantastic dog groomers within the mobile grooming van. Sales of merchandise are also completed within the mobile grooming van. Phantastic also utilizes the internet as a vehicle for grooming appointment and sales.

Facilities

What are the plans for facilities (manufacturing, office, retail)? Include manufacturing facilities, production capacity, and future capital required to build facilities.

Facility requirements for Phantastic Dog Grooming are minimal. The grooming van would host service to and serve as the interface space with the customer. My home office would serve marketing, logistics, and business operations.

Suppliers

Who are the major raw material/service suppliers, and what are the significant purchasing contracts with them? Are there backup suppliers?

At this time, I can purchase products for washing and grooming dogs from major wholesale companies all over the internet. With more research, I can better define potential suppliers for my business at competitive prices. I would acquire both name-brand commercial products as well as organically grown products.

Related Products/Services and Spin-Offs

What related products/services will be provided, and how will they increase or enhance the profitability of the venture? What new product/service (spin-offs) could be developed to meet changing market needs in this industry or others?
Mobile dog grooming can venture into a retail space dog salon in Oceanside once customer base and demand grows in that direction. Phantastic Dog Grooming may also write and publish a self-help dog grooming book focused on building and re-establishing dog health.

Trademarks, Patents, Copyrights, Licenses, Royalties

How will you protect intellectual property? What patents, trademarks, or copyrights have been obtained or which ones will be pursued? What license or royalty agreements are associated with the product/service, and what plans have been made for future agreements? What distribution rights have been obtained or given away?
I plan to copyright the business name and mascot (to be designed).

Governmental Approvals

What governmental agencies regulate businesses in your industry? What governmental approvals are necessary, and what is the status of such approvals? Some examples of agencies providing governmental approvals include the FDA, EPA, FCC, USDA, OSHA, IRS, secretary of state, State Department of Revenue and Taxation, Workers’ Compensation Division, health departments, planning and zoning commissions.
At this time, California does not have regulatory laws on pet grooming businesses. Earlier in 2012, a new bill, SB 969, proposed by state Sen. Juan Vargas, D-San Diego, desired to require licensing standards and pet grooming regulations and practices for the pet grooming industry in California. This bill has not passed at this time.
As for chemical substances I would use for cleaning and sanitizing the grooming van, I would want to ensure that all items are EPA approved to be safe around animals. Additionally, the wash and care products I use and sell for dog grooming should also be tested and approved safe for animals.

Marketing Plan

Action Step 5.1 Marketing Plan – Industry Profile Questions

Industry Profile

Current Size

What is the current size of your industry for this product/service? What is the size of your industry at the national, regional, state, and local levels? How many dollars are spent annually and/or how many units are consumed annually in the industry? Cite the sources of information.
In 2002, there were 8,325 pet grooming establishments reported to the U.S. Census Bureau[1]http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk.

Growth Potential

How much is the industry growing, stabilizing, or declining? Cite the sources of information.
Based on the last 16 years of research, the growth potential of pet grooming services is increasing with each year. According to Amber Kostelac, Data Manager from the Indiana
Business Research Center, Kelley School of Business, Indiana University, 3.36 billion dollars was spent on pet grooming and boarding services and estimated expenditures in the pet industry in the next 3 years will raise approximately 3 billion each year from 50.49 billion dollars in 2011 to a projected 62.36 billion dollars in 2015.

Industry Trends

What are the trends in the industry? What effect does technology have on the business? How is the Internet affecting your industry? Cite the sources of information.
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Other Characteristics

What seasonal issues affect your industry? What is the average profit for businesses in the industry? In what area of the country are most businesses in your industry located? Cite the sources of information.
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Distribution Channels

What distribution channels currently exist to support the sale of your product/service? Cite the sources of information.
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Competitive Analysis

Action Step 5.2 – Marketing Plan – Competitive Analysis Questions

Direct Competition

What direct competition exists for your product/service? What companies sell similar products/services to the same target market? Cite the sources of information.
Other mobile pet grooming businesses are Phantastic Dog Grooming’s direct competition. Dog owners know they have an option of using any mobile pet groomer in the area because mobile pet groomers travel to their customers’ locations. Some owners feel that they would rather wash their dogs on their own in their home instead to save money, so dog owners’ bathrooms are also Phantastic’s direct competitor.

Indirect Competition

What indirect competition exists for your product/service? What companies sell different products/services that fill the same need as your product/service? Cite the sources of information.
Salon and shop pet grooming businesses are Phantastic Dog Grooming’s indirect competition. Dog owners know they have an option of using a mobile pet groomer or taking their dog to a self-wash or serviced pet salon to have their dog groomed at a competitive price.

Future Competition

What future competition do you expect to have for your product/service? Cite the sources of information.
Same competitors as stated above: other mobile pet groomers, salon and self-wash pet grooming stores, and dog owners’ own bathrooms.

Competitive Analysis

What is your competitive advantage? Include a competitive analysis chart (ctivity 5b) and summarize key points. How will your product/service compete in the areas of price, quality, unique features, distribution system, marketing/advertising, geographic location, and strengths/weaknesses?
Phantastic Dog Grooming aims to target two specific groups of customers – 1) the financially sufficient, home-based professionals or retirees; and 2) animal shelters and rescue groups in the Oceanside, California and its quad-city area (Vista, San Marcos, and into Carlsbad). The animal shelter and rescue customer groups give Phantastic Dog Grooming the initial advantage it needs to build its reputation and presence as a charitable, committed, and capable dog grooming business to later, and simultaneously, sustain regular and loyal paying clientele, which will enable the business to set competitive yet profitable prices, maintain consistent marketing and advertising through word of mouth, and gain a known-presence through physical ads on the van in the same neighborhoods.

Market Analysis

Action Step 5.3 – Marketing Plan – Market Analysis Questions

Target Market Profile

What target market will be selected? How many potential customers and/or potential dollars are available in this market segment? What is your share of the market? What other markets, if any, will be targeted and at what stages of the business? Note that the target market might be firms in the distribution channel instead of the end user.
Phantastic Dog Grooming aims to target two specific groups of customers in the Oceanside, California and its quad-city area (Vista, San Marcos, and into Carlsbad):

1) Animal shelters and rescue groups; and

2) Financially comfortable, home-based professionals, homebodies, or retirees.

With the first group, dog grooming services would be provided on a volunteer basis to animal shelters and rescue groups to establish the company’s name in the area through the groups that connect adoptable dogs to human owners, which we hope to have as future customers of Phantastic Dog Grooming. Upon successfully establishing a presence in the dog communities of the cities, the second target market of financially sufficient consumers become the goal of our business because such individuals and their situations tend to cater to the care and concern of grooming their dogs and can give access to the dogs during the day work hours, making it feasible to work and pull income during regular hours instead of having to work during evening or weekend hours.

Customer Profile

What is the profile of the intended customer, including age, gender, profession, income, and geographic location? What attitudes, values, belief systems, and social status define this customer group? For business customers, what is your customer’s business type, SIC and NAICS codes, intended use for the product/service, geographic location, and size of organization?
The typical Phantastic Dog Grooming customer can be:

1) Local Animal Shelter or Rescue Group who needs assistance with bathing and grooming newly acquired or fostered dogs to bring them back to health and make them desirable for adoption.

2) House-spouse (wife or husband or significant other) or working professional in a financially comfortable or prosperous household who stays at home during the day or has other individuals who care for the home (such as cleaners or housekeepers) during the day. The key to the latter part of the profile is for our groomers to have access to the dogs during the day working hours in order to provide service and acquire business from our customers during OUR day work hours. The customer will also have a source for electricity for our van to pull energy from in order to provide service.

Future Markets

What opportunities could occur in future markets, including market size, method of market penetration, projected date of entry, and approximate costs?
The goal of Phantastic Dog Grooming is to ultimately have a loyal base of clients who regularly spend money to have their dogs groomed. In addition to a loyal client base for the mobile dog grooming, Phantastic Dog Grooming would like to expand the business to a retail space that provides self-wash and paid grooming services for customer markets who desire to transport their dogs to be groomed as a more affordable alternative. This would include the mobile dog grooming service.

Pricing

Action Step 5.4 – Marketing Plan – Pricing Questions

Pricing Strategy

1) What are your short-term and long-term pricing strategies? Why have you selected these strategies? What are the competitors’ pricing strategies? What pricing constraints and sensitivities exist for your product/service? 1) For the initial start of the business with animal shelters and rescue groups

­ Short-Term Pricing Strategies: There will be no cost for bathing and grooming the adoptable dogs; however, providing breed-specific cuts would not be an option as the goal is to bathe and condition the dogs so that they are healthy and presentable for adoption (not for a dog show).

­ After it has been determined that Phantastic Dog Grooming can be established as a reputable and capable service provider and business through the goodwill it has given to the community (estimated time X hours of service), then the rates of service for animal shelters and rescue groups would be set at a flat rate per number of dogs serviced. This flat rate would be X.

2) For business with household customer groups

­ Short-Term Pricing Strategies: Because mobile grooming is seen as a convenient novelty in the dog owner community, it is acceptable to price services at a much higher rate than a self-wash salon. Therefore, prices would start at the same costs as the average of other mobile pet groomers in the area. Also, there will be offerings of packaged deals, coupons, and specials throughout the year to entice customers to have their dogs groomed during a low period of business or to jumpstart target customer business.

­ Long-Term Pricing Strategies: As inflation of the economy rises (or not) each year or every couple of years, prices will be increased at X%. For loyal customers who regularly have their dogs groomed, we will honor the last price for the first three months of the adjustment period. This would give customers a positive feeling and sense of being rewarded for being a loyal customer. Packaged deals, specials, and coupons will continue.

Price List

Pricing is based on package desired and size of dog.

Two packages are available:

|Basic Groom |Full Groom |
|Bath, Blow Dry, Brush |Clean Ears |All of Basic Groom plus breed-specific haircut and nail trim |
|Hair Trim (face, feet, sanitary |Bandana or Bow | |
|areas) | | |

|Size of Dog |Basic Groom |Full Groom |
|Small, under 15lbs |$50 |$65 |
|Medium, 15-30lbs |$60 |$75 |
|Large, over 30lbs (max 55) |$65-$75 |$80-$100 |
|Nail Trim (with Basic Groom) |Addtnl. $8 |NA |

Pricing Policies

1) Customers who pre-pay for five or more grooming sessions will receive 10% off the total.

2) When prices are raised due to inflation, we will honor the previous year’s price for the first three months of the year to customers who had at least three grooming sessions in the prior year.
Market Penetration

Action Step 6.2 – Marketing Plan – Market Penetration Questions

Company Image

What is the image of your company? How will you portray that image? How will your image be noticed by potential customers (for example, how the phone is answered, what the invoices look like, the company’s involvement in civic organizations and causes)?

To be determined; Phantastic Dog Grooming will be a major supporter of dog adoption and rescue efforts.

Customer Service

1) All customers are given the opportunity and will be encouraged to look over the grooming that was done on their dogs upon completion. If a customer is dissatisfied with the dog’s condition after the grooming session, they must state the areas that do not meet their intent, and we will fix it prior to leaving the site. Customers will have 24 hours to let us know of any additional concerns, and we will return within 48 hours to fix the issue.

2) If a dog is injured during the grooming session, we will take the dog to the dog’s vet and pay for the services.

Location

Where will the business be located? How will this site promote your business? What are the demographics of the surrounding neighborhood? How long do you plan to be at this location?
The business is located in customers’ neighborhoods throughout the Oceanside and surrounding areas.

Direct Sales Force

Will an internal sales force be used for selling the product/service to the end user? How many sales persons will be hired? What will a direct sales force cost (compensation package, training, support staff, contests, bonuses, meetings, sales aids, displays, samples, training materials, catalogs, and brochures)?
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Sales Representatives

Will external sales representatives be used to sell the product/service to the end user? How many representatives will be used? What will be the cost of using sales representatives (compensation package, allowances, catalogs, brochures, and samples)?
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Licensing or Distributors

To whom, if anyone, will you license your product/service? What upfront, annual, and royalty fees will you charge? What companies will be used to distribute your products/services? List the name and address of the distribution company, contact person, geographical area assigned, and a brief description of the distribution contract.
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Advertising and Promotion

What advertising/promotion will be used for the distribution system and customers? What media will you use to promote your business? What will the advertising/promotion cost?
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Publicity

By providing volunteer grooming services to local shelters and rescue groups, we may be able to gain the interest of the local media and get promotions through press releases on television, radio, and the local newspapers. Phantastic Dog Grooming could also negotiate and arrange to be at the site of adoption events and present ourselves as supporters of the dog-adopting community.

Telemarketing/Direct Mail

Will telemarketing or direct mail be used to sell the product/service to the end user? Where will you obtain a mailing list? What is your schedule for direct mail/telemarketing and estimated response rate? What will the direct mail/telemarketing cost (mailing list, print materials, postage, and cost per contact)?
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Internet

How will you use the Internet to market your services? What features will you have on your Web site? Will you use e-mail to communicate with customers? What will it cost to build and maintain a Web site?
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Trade Shows

What trade shows do you plan to use to exhibit your product (name of the trade shows, location, date, size of booth, cost to attend, the projected number of contacts, and other information)? What trade shows do you plan to attend without an exhibit?
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Market Penetration Effectiveness

What activities are planned for penetrating the market? When will they begin and end? Who is responsible for each activity? How will you measure the effectiveness of each market penetration tactic?
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Financial Plan

Action Step 9.2 – Financial Plan Questions

Start-Up Costs

What are your estimated costs to start this business? Are these one-time costs (expenditures) or ongoing costs (expenses)?
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Sales Projections

What are your sales projections for the next three years? Where did you get the information to project financials? Are the projections reasonable?
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Income Projections

What are your net income projections for the next three years? When will your company be profitable?
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Cash Requirements

How much cash will be required to cover start-up costs, operations, and/or growth?
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Sources of Financing

Based on cash requirements to start, maintain operations, and grow, will you seek debt or equity financing? How much is the cost of obtaining these funds?
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Exit Strategy

What is your overall plan for growth? How will this plan enable you to obtain a wealthy harvest upon exit? What are your specific plans for going public, selling the business, merging the business, or other?
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Action Steps 8.2, 9.1

Use the Print Options in the Financial Template to print these Financial Statements

Projected Financial Statements

- Monthly Cash Flow Report (for three years)

- Year-End Income Statement

- Year-End Balance Sheet

- Ratio Analysis

Appendix

Action Step 10.3 Appendix

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[1] http://factfinder2.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=bkmk

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