Preparing Your Pet Business for a Successful Sale: Three Essential Steps
Selling a pet business can be a complex and challenging endeavour, fraught with numerous considerations. It doesn't matter how long you've been in business, or if you've washed, walked or trained thousands of dogs.
Chances are you don't know the first thing about how to sell your business, and even less about what you need to know to get your business 'oven ready' to sell.
In a recent podcast episode, I interviewed Eyal Cohen, co-founder and Chief Development Officer of Pet Resorts Hospitality Group. Eyal shared invaluable insights into the art of selling a pet business.
If you're contemplating this significant step, here are some key takeaways from his conversation:

1. The Inevitability of Selling:

For many pet business owners, the thought of selling might be daunting, especially if the intention is to keep the business within the family.

However, Eyal points out that various factors often necessitate a sale, whether it's the absence of successors in the family or the desire to explore new opportunities.

Understanding the inevitability of selling can help pet business owners plan strategically. Unless you are happy to just close the door and walk away from your business, then this is something you need to give serious consideration too.

2. Building a Self-Sustaining Operation:

One crucial aspect of preparing for a sale is ensuring that the business can function efficiently without its current owner.

Eyal emphasises the importance of delegating responsibilities and empowering staff to manage operations.

When the business can operate smoothly in the owner's absence, it becomes an attractive prospect for potential buyers.

Do you have systems and procedures that enable the business to operate without you being there?

3. The Power of Numbers:
Eyal smartly emphasises the significance of understanding your business's financial metrics inside and out.
This includes knowing essential terms like EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) and being aware of your labour ratios.
Potential buyers will scrutinise these numbers, making it crucial for sellers to have a firm grasp on their financial health.

4. Facility Presentation Matters:

A well-maintained and presentable facility can significantly impact a buyer's perception of your business.

Eyal suggests that a clean and safe environment speaks volumes about the level of care you provide to the pets in your care. Potential buyers are more likely to be attracted to a facility that reflects comfort and safety, reinforcing the value you offer to customers.

4. Selling Safety and Comfort:

While the physical aspects of your facility are important, Eyal reminds us that you're ultimately selling safety and comfort to your customers.

This perspective shifts the focus from the mere physical space to the emotional reassurance you provide to pet owners. A well-maintained facility embodies this commitment and can enhance your business's marketability.

In conclusion, Eyal Cohen's insights shed light on the multifaceted process of selling a pet business.

From fostering a self-sufficient operation to mastering financial metrics and maintaining a well-presented facility, these lessons serve as a valuable guide for pet business owners considering this significant transition.

As you embark on this journey, remember that your dedication to safety, comfort, and excellence is what truly makes your business shine in the eyes of potential buyers.

If you are ready to sell your doggy daycare business then you can contact Eyal here.

If you need help making your pet business more profitable so it will be more attractive to a buyer then you should check out Dom's Diamond Pet Business Development program.

Author: Dominic Hodgson
Dom Hodgson is known as 'The Pet Biz Wiz', and is widely regarded as the world's leading pet business coach and marketing strategist.

Author of 9 books, Dom is a much in demand speaker at pet business events all over the world. His mission is to help struggling pet business owners to unleash their potential, so they can create a super profitable, impactful, and industry enhancing business.

If you are a doggy daycare owner, dog trainer, dog walker, dog groomer or any serviced based pet business owner who wants to make more money with less stress, and fewer headaches, then click on the button below to get immediate access to £1997 worth of FREE marketing resources.

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