Starting a dog walking or pet sitting business is an exciting time for every investor. People have decided to turn their love of a cat or dog care into a booming enterprise. But despite this excitement, it can be very easy to get lost in the idea of being your own boss, having financial freedom, and growing your business that most people always wanted.
While all of this is possible, it is imperative to take it slowly, take one step at a time. And the first step entrepreneurs need to consider when starting a dog walking or pet sitting enterprise is to figure out the cost of creating this venture. While the cost may vary from state to state or city to city, this article has put together a simple guide of the costs in starting a dog walking or pet sitting venture.
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This guide will help startup entrepreneurs determine what it will take to get their company or shop started. The good news is, forming this type of company can be inexpensive compared to starting other businesses. You do not need to rent a retail space or purchase specialized restaurant equipment. Listed below are essential pieces of information that every pet care service provider needs. After that, the rest is up to the owners. It is possible to start an enterprise with nothing more than a mobile phone, printer, personal computer, poop bags, and a lot of patience.
DBA or LLC – More or less $500
One of the first things entrepreneurs need to do to start this type of enterprise is choosing their legal structure. Today, two of the most common legal systems are LLC and DBA (operating as a partnership or a sole proprietor). The costs can differ based on the legal structure business owners choose and the state they are planning to operate in.
A lot of law firms or law-related websites provide helpful information about DBA and LLC: these firms and sites can also help entrepreneurs set up their legal structure. Make sure to do your due diligence in researching every little detail to help you decide which of the two is best for your enterprise. DBA is a lot cheaper, but LLC offers more protection.
Visit https://www.businessnewsdaily.com/3747-limited-liability-company.html to find out more about LLCs
Bank Accounts – Varies depending on the bank
It is an excellent idea to separate your personal bank account from your business account. There are platforms on the Internet that can help find free checking accounts. Having a separate bank account for the shop will make taxes and tracking expenses more manageable.
Business license – More or less $400
License costs will vary depending on the state or city the entrepreneur is planning to operate. Some cities or states may not require shops to get a license at all. The SBA or Small Business Administration can help enterprise owners understand what types of permits are needed in the city or state you are living in. To apply for the necessary license, entrepreneurs will need an EIN or Employer Identification Number. Registering for an EIN is free of charge. Just visit the Internal Revenue Service website and follow the instructions listed on the site.
Professional organizations – $0 to $400
While professional organizations are optional, the NAPPS or National Association of Professional Pet Sitters, as well as the Pet Sitters International or PSI, can be excellent sources of new sitters. NAPPS offers a ten-day trial and costs $150 for a one-year membership. The Pet Sitter International membership is $150 a year, with a $10 application fee for the first year only.
Insurance – More or less $150
Insurance in this type of enterprise is vital for startup companies. It not only protects entrepreneurs, but also protects the clients and their precious pets. A lot of customers will ask if the shop or company has the necessary insurances. For example, if a customer searches for the keyword “Pet Sitting Services Near me,” the next thing they will do after finding a website is making sure if the shop has insurances since the most important thing when hiring companies or professionals is the safety of their pets. That is why it is imperative to get the necessary insurance policy to protect the business, as well as the clients.
Supplies – More or less $5
It is always a good idea to have a lot of poop bags, spare leashes, collapsible water bowls, as well as cat or dog treats. You can purchase these supplies from the nearest local pet shops. Entrepreneurs do not need to go crazy with these supplies when they are starting their new enterprise. Once they spend some time working with cats or dogs, they will soon find out the necessary additional supplies they need.