The Importance of Reinvesting Back into Your Business

The Importance of Reinvesting Back into Your Business

Published March 29, 2024

For pet professionals, the journey from passion to profit is often marked by significant milestones. Whether you're a seasoned veterinarian, a dedicated pet groomer, or an enterprising pet store owner, your business is not just a livelihood; it's a labor of love. In the dynamic world of animal care, success isn't just about reaching a certain point; it's about continually evolving, improving, and expanding your services to better serve the fur clients that enrich our lives. In this blog, Erinn, owner of Doggo Den, LLC in Williamsburg, VA explores a crucial aspect of business growth: knowing when it's time to expand and the importance of reinvesting back into your pet-oriented enterprise. So, if you're ready to take your passion for pets to new heights and unleash the full potential of your business, read on to discover the signs, strategies, and benefits of strategic reinvestment and growth.

 

How Things Started:

I opened my Pet Grooming Studio, Doggo Den in May 2021 in Williamsburg, VA and I have been grooming for 10 years. I opened it with the intention of providing myself a small space to groom only my clients' doggos. After only 4 months I was booked up and not accepting any new clients. Having built relationships with other Pet Groomers in my area I quickly found that some of them needed a more positive and productive work environment. In my second year I hired another experienced and like-minded Groomer who added a lot of value to my business both in morale and financials. Finally, in 2023 I hired another full time Groomer and a part time Groomer as well. We quickly realized that we had outgrown our 500 square foot studio.

 




Clientele in Demand:

In my area there seems to be no shortage of doggos. At our studio we focus on client retention by educating the pet parents on proper 4-6-8-week grooming routines. Meaning we consistently have clients coming in every month. Once a Groomer has worked at our studio for a significant amount of time, I find that doing so allows them to book up with loyal clients that they can build a relationship with. This past year we were turning new clients away due to capacity and it was part of how I knew there was potential for my business to grow. In 2024 I will have hired 2 more full-time Groomers which has added the capability to bring on more new clients. Marketing events have helped us during the slower months to keep traffic coming in. I also maintain a healthy social media presence to advocate our clients word of mouth.



Planning an Expansion:

For the last two years I have held onto most of my businesses profits to be able to reinvest that money back into my business. In my situation I was offered a space double the size in the same building by my landlord. But in general finding the right space to fit your future goals is crucial. If I had known I was going to hire employees I would have started bigger but I am grateful for the opportunity to move with minimal issues. I made sure to have a budget including my new overhead and included projected sales with more Groomers hired. A good rule of thumb is to identify what your grooming prices should be based around your specific metrics and expenses and not to compare them to your competition or peers. When I crunched the numbers on what it would cost to open a bigger space, I ensured that I could afford to operate even if I lost all my employees, and I was flying solo again.

 







How to Find Staff:

I have been fortunate to find employees within weeks of re-opening our bigger salon. I believe this is due to staying in touch with other pet Groomers in the industry, both locally and on social media. I have cultivated a positive work environment based around self-development and respect and in turn my salon attracts passionate Groomers. Once hired I do a two-week trial period to make sure that they are a good fit, and that the vibe meshes well. I also decided that once we became fully staffed with Groomers that I would hire an hourly paid cleaner/receptionist. This position became vital to allow my Groomers to focus on their duties that provide them with commission while the daily cleaning tasks still get completed. Among any employee benefits that are offered I recommend investing in employees by maintaining tools, continued education with certifications or specialty training, and mental health. After all, I am building a company culture of people who are passionate about what we do, the experience we provide, and adding a little extra sparkle that makes our work stand out.

 

Marketing:

After the holidays I have found that this industry does slow down some from January-March because of the winter weather and people are recuperating their finances. This is when some of the marketing events I put into place throughout the year really kicks in. Overall I believe it's important to be involved in my local community. So we provide monthly nail trim events at our well-known locally owned pet supplies store, Nautical Dog, as well charity grooms for dog rescues like Homes Fur Hounds both found in Williamsburg, VA. In return all we ask is that they post and talk about us to patrons in our town. It really helps that word of mouth continues and helps drive traffic through our salon when it would otherwise be a very slow time of year. In the past I have found that this helps my business, the local business/organization involved, and the rescue animals more than purchasing ad space in a magazine or website. I also do several vendor events throughout the year to be able to set up a table and talk to potential clients and dog lovers about why our Pet Grooming Studio is special in what we provide.

 






Closing:

When I was first approached with the idea of expanding my business into a bigger space, I had doubts and was nervous. I had a great 2 years in my current space and was comfortable with the amount of work we were doing. But growth doesn't come from staying comfortable and I knew our potential was greater. I knew I could offer a great space for both my employees to work at their own pace and for pets to feel as comfortable with us as they would in their own home. Take the leap, do the thing, and follow your gut. I am going to put my all into the continued success of my business and the staff that helps me run it. Remember that the employees are the heart of a business and it can only function as well as the health of said employees. 

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