For many suitable individuals, becoming a Pet Planet Franchisee may be one of the best business opportunities available. Not only are you the owner of your own business, but you have a proven, unique and sophisticated retail system and support mechanism to help make you a success.

As part of the due diligence you conduct in your journey towards becoming a business owner, there are several considerations you must make. The following illustrates what, in our opinion, are your keys to owning a successful Pet Planet location.

Keys to success:

1. Financial stability and adequate resources. Undercapitalized franchisees are in trouble before they even start. It is imperative that you have enough start up capital to invest and grow your business to a level that provides an excellent return and satisfying work.
2. Strong management skills and capabilities. Experience in and/or aptitude for financial management, business management and people management is essential for success as a Pet Planet Franchisee. You must have retail "common sense" that allows you to manage and motivate knowledgeable staff and understand consumer needs and trends.
3. A desire to be a leader in the pet industry. Pet Planet is a retail concept unlike any other. We pride ourselves on being an industry leader in how pet retail is conducted and perceived. A Pet Planet Franchisee must stand out in the crowd and operate their business to a higher standard.
4. Strong Communication Skills. Do you get along well with all people? Can you work in a successful and cooperative partnership with a team of people within a set of operating guidelines? Do people like working for you? Because Pet Planet is service and knowledge driven, we look for candidates who are extremely high energy and who are good motivators of people.
5. Passion for the welfare of domestic pets. Do you want to teach others about pet nutrition, training, grooming, etc.? Pet Planet is an educator and requires Franchisees who carry a distinct passion for pets.

Please consider the following questions that will help you determine whether you have what it takes to be self-employed:

• Do you have the support of your family?
• Will you enjoy operating this type of business?
• Are you good at interacting with people?
• Can you live with uncertainty?
• Can you handle the responsibility of running your own business?
• Can you work flexible hours?
• Can you multi-task?
• Can you work within a structured and strict set of operating standards and guidelines?

What is Franchising?

Franchising is a method of doing business where the Franchisor grants another individual the right to sells goods and/or services which are identified by the Franchisor's trade-marks, using the Franchisor's know-how and business systems. Franchising is a contractual relationship between the Franchisor and the Franchisee which governs the way the Franchisee conducts its business. The Franchisee must follow the Franchisor's standards, methods, procedures, techniques and specifications and must follow the marketing plan developed by the Franchisor. The Franchisee pays a fee to the Franchisor for the right to use the Franchisor's trademarks and business systems.

The relationship between the Franchisor and the Franchisee is an interdependent one. The Franchisor provides operating systems and support services to help the Franchisee become more effective, efficient and profitable. Franchisees market the brand, work the operating system and use the support system to get and keep customers.

What are the Benefits of Franchising?

1. Reduced Risk. Pet Planet provides a proven system, including training, opening assistance, accounting systems, inventory and purchasing systems, established suppliers, manuals, name and use of the trade-marks.
2. Easier Financing. Financial institutions prefer to lend to established franchised systems because of their higher success rate.
3. Purchasing Power. Purchasing power in the pet industry is essential to competitive pricing. Collective purchasing power on products, supplies, health and insurance benefits, advertising, etc., will offset any ongoing royalties paid by the Franchisee.
4. Site Selection. Pet Planet has expert site selection knowledge based on our own operating experience and demographic knowledge. Landlord and developers prefer to deal with someone who has an established track record.
5. Proven and Effective Core Programs and Marketing. Many independent businesses cannot afford the service of advertising and promotions experts. In a franchise system, the advertising cost is spread over many units and allows for well-conceived promotional campaigns. Pet Planet has also developed proven branding programs and tools to generate habitual traffic and develop strong customer relations and loyalty.
6. Stress Reduction. A Pet Planet Franchisee can focus on running their business rather than the business controlling them.

In a sense, franchising is a business model whose primary purpose is risk minimization. Every study ever done on the success rate of new (non-franchise) business startups concludes the same thing. Starting up a new business is very risky. Most studies show that over 90% fail within three years. The primary reason that the failure rate is so high is because the owners must go through the learning curve of operating that specific type business. Unfortunately, the market place is not very tolerant of the inexperienced business owner trying to learn how to operate their new business.

Another reason why it is prudent to buy a franchise is that a franchise investment can be thoroughly researched before any significant money is spent. With a new business startup (non-franchise) you are always operating in the dark. No matter how much research you do it is very difficult to get a handle on so many aspects of the new business. In summary the primary reason you should buy a franchise as opposed to starting up a non-franchise new business, is to minimize risk and enhance your chances of success.

Is Franchising right for you?

First, you must ask yourself certain questions. Why do you want to own a franchise? If it's to get rich or to get on "easy" street and not have to work, then franchising will not meet your expectations. If you are like many people who have the dream of owning your own business, being your own boss and having control of your life, then franchising may be for you.

1. Why do you want to own a franchise? Is it to get rich and not have to work hard or work long hours? Is it to be your own boss and control your own destiny? Is it because you just can't stand what you're doing now?

   This is an exceedingly important question. You probably will not get rich and you probably will have to work hard, long hours. Buying a franchise might not be a good move just because you can't stand what you are presently doing for a livelihood.

2. Are you motivated by money? Do you have to make more money? Do you feel that you are at a dead end where you are now?

   Being money motivated is important. This characteristic will tend to hold you in good stead when you have to work long and hard in the early years of owning a franchise.

3. Do you like working for someone? Can you work within a strict set of guidelines?

   If you are very comfortable working for someone else, then owning your own franchise might not be for you. However, it is also important that you like to work within a standard set of operating standards and guidelines.

4. Do you really enjoy working hard, even if there is no immediate reward?

   In the first few years, operating a new business demands a hands-on approach, which can translate into long hours. Also, it is very common to not make a lot of money in the early years. These initial years must be viewed as an "investment" towards your ultimate success.

5. How self-reliant are you? Do you wait for others to take the initiative? Do you need the approval of others and considerable support before you make a decision, start a task, or move in a new direction?

   You must be a self-reliant individual, as you will be managing the business day to day. However, one of the most significant benefits of owning a franchise is the support given by the Franchisor. The phrase "You are in the business for yourself but not by yourself" holds true in a successful franchise system.

6. Are you a risk taker? Are you willing to place your time, energy, and money into a venture that has the possibility of failing?

   No matter how you look at it, you must take a chance. There are failures in franchising. Albeit, less than 10%, but the risk is still there. Can you handle it?

7. Do you take real pleasure in being the boss, or having the authority and responsibility for the success or failure of a new venture?

   If you are the kind of person who enjoys being in charge, then having the authority and responsibility for the success of the venture will not be a problem.

8. Are you a positive person?

   Being a negative person is a luxury you can ill afford in business. Negative thinking leads to failure. You simply have to be a positive person in order to succeed in business.

9. Do you have good people skills? Can you interact with people effectively? Do you like people?

   In nearly all franchises, good people skills are one of the most critical traits to becoming successful in the business.

10. Can you stick to the Franchisor's system, or do you have to do everything your way?

    The primary reason that franchising is successful is because the learning curve is transferred from the Franchisor to the Franchisee. The Franchisor has developed a successful system. If you are going to be a Franchisee, you must be willing to stick to the system. You have to do things the Franchisor's way.

11. Do you like to teach? Do you enjoy training people in new tasks?

    The nature of the Pet Planet concept necessitates a type of teaching mentality. We are educators and our sales success depends on our ability to educate people. Additionally and because of our concept, training employees is a critical element to your store's success when you are not there.

12. Can you handle multi-tasking? Can you cope with the multiple demands of operating a business?

    Operating a business requires wearing many hats. You have to be willing to do everything from mopping the floors to dealing with angry customers.

13. Are you willing to accept the help of others?

    You simply must be willing to accept the help offered by the Franchisor. It is valuable and it will help you succeed.

14. Do you have the determination to get what you want and go for it 100%?

    Achieving success does require a certain degree of inner strength. If you feel strong enough to make your franchise successful, then go for it!

The truth about franchising is that it's very rare that franchisees get rich. It's also true that as a franchisee you generally work long hours, especially the first years. A franchise business is like nearly all businesses - it is hands on and you must be there to make it happen. Generally, a franchise is going to involve longer hours and more stress than would a job where you just put in your time and then go home and forget about it until the next day. However, franchising gives you the chance to do something really significant, and that's to be in business for yourself, be your own boss and control your own destiny. This is the chance to realize the dream. It's been said that the truly happy people among us are those who are living their dreams.