The Importance of Creating a Budget in the Pet Care Industry
Co-founders of The Dog Gurus, Robin Bennett (CPDT-KA) and Susan Briggs (MA, CPACO), are sharing the importance of budgeting along with tips to help entrepreneurs and pet care businesses flourish.
By: Whitegate PR INC
"Most small business owners would agree that there's never enough time in the day, week or even month to achieve all that's on their never-ending to-do list. This is why creating and operating with a budget often gets put on the backburner."
A budget helps you to:
· Be Proactive
· Adjust Plans
· Compare Monthly
Some important preparation steps to remember (The 3 D's):
· Documents: Gathering the appropriate documentation is crucial. Get help with this if you can! Documentations can include: monthly profit and loss statements (last 12 months), details revenue by service for each month.
· Data: The number of units by month for each service that you provide, occupancy rates, effective average rate earned, rent or loan interest changes, tax rate increases.
· Decisions: What are the future plans for your business? New services? Rate increases? Staffing levels? Wage increases? Vendor bids? Can you forsee any unusual events happening?
Susan says, "It's not only the business that benefits from a budget, but you can't plan personally when you don't know what your own pay is going to be. A budget will allow for you to follow a guide and adjust plans when needed so that you can bring home enough money to contribute to your household. This is key to loving and respecting your business."
Not every pet care business owner has an education in finance or enjoys working with numbers. Or maybe you know a budget is a necessity but just don't know where to start. This is why The Dog Gurus offers the Budgets Made Easy Implementation Toolkit (https://thedoggurus.com/
"With all that has happened this year due to the pandemic, there is really no better time than now to make budgeting a priority," expresses Robin Bennett, "We can help you make more money, eliminate financial stress and gain the confidence in your business decisions that you deserve!"
Dana K Humphrey