In the last few years, pet shop business has become quite popular in India. As the standard of living of many households has improved, many of them are living in better homes, high rise buildings with playgrounds, providing ample space for the pets to move around and able to play.
However, the pet shop also could not save itself from the ill effects of pandemic. The demand for these pets declined gradually by the people due to the financial constraints or having the myth of transmitting COVID through these pets making it difficult for the pet shops to survive. Since the local demand for pets has been reduced hence the pet shop owners are planning to supply pets at distant areas where there is a demand.
To have a good logistic supply of animals in distant areas the pet shop requires funds which can be possible through a business loan. A pet shop loan can help these pet shops to survive this pandemic by expanding the horizon of their business.
What is a Pet shop Loan?
A pet shop loan is a kind of business loan that helps the pet owners to scale up their business in pet grooming, healthcare, daycare arrangements, different varieties of pets, etc.
Various Use of Pet Loan
There are different ways through which a business loan can save pet stores from falling in this crisis.
- Helps in maintaining the cash flow – due to the pandemic the credit period given to the customers have been extended which creates an artificial cash crunch, as the pet suppliers are not providing any credit and if even it has been provided, the duration is very less.
- Better Logistics supply of the pets – the pet owners can use the fund to supply pets in the different areas in short duration where the demand is high.
- Day and Long-term boarding – Infrastructure and the staff need to be hired to take care of the dogs in the day care
- Medical care and Medication – In the Pandemic, it has become more important to continuously keep a tab on dogs, whether they have come in contact of the COVID virus or not, hence regular check-up is being done and as a precautionary measure the medicines are kept in stock.
- Obedience training for the pups – The pups must be well trained before selling it to the customers so that they remain disciplined and do not behave weirdly when encountered strangers hence trainers must be hired to keep them in check.
- Dog Grooming and Spa – Pet owners must also focus on the hygiene for the dogs to protect them from worms, ticks, and other diseases. Since there are less takers, hence it becomes important that the pets are well groomed, neat, and attractive.
- Pets merchandising and food – the pet store is incomplete without the merchandising and the pet food. The demand for the dog food and merchandising negates the low demand for the pets.
- Legal Compliances – Various licenses need to be taken to start and continue the pet shop
Sources of Pet shop Loans
There are many NBFCs and financial institutions that provide pet shop loans. Few of them are ZipLoan, Lending Kart, Bajaj Finserv etc. Registration and Licenses is a must.
In Lockdown, pet shops can be considered as the essential stores that can be opened. So, the store owners have an opportunity to make the most of the lockdown by selling pet foods as the business loan are easily available to them.
Frequently Asked Questions
- Can I get a loan for a pet?
Yes, there is NBFC like Ziploan, which is offering pet loans for pet day care services.
- How can I start a pet care business in India?
To start the business, first, you must find a place where you can keep the pets. In addition to this, the environment should be suitable enough so that you are able to take proper care of the pets.
- Are pet supplies a good business?
A pet supply store can be successful. Even if you do not have such high expectations for your pet supply store, you can still achieve success in your own right.
- What are the top pet dog breeds in India?
The most popular pet dog breeds in India are:
1) Indian Pariah Dog
2) Indian Spitz
5) Golden Retriever
- Do pet shops for dogs offer grooming services?
Yes, many pet shops for dogs provide grooming services in addition to various pet supplies.
- Can we buy pet merchandising with a business loan?
Yes, All the pet for merchandising can be bought through a business loan.