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Startup Dreams and RealitiesBy: Rebecca LoveridgeWhat three entrepreneurs are learning about turning their ideas into successful businesses. |
"In this region, seasonality is a challenge," she says. "Trying to predict your inventory needs, there is no science to it. It's much more reactive."
She employs a part-time store manager and a part-time sales associate to man the store when she's not there, and she travels to trade shows in Chicago and New York City to meet pet designers and bring back the newest goods.
"It remains to be seen whether I'll get a return on this," Seevers says.
With or without a return, she is thinking about opening a second shop, possibly in Sarasota.
Business analysis
Classic winners in the entrepreneur world find the spot in a market where those who share their passion are not being served, then construct a plan to make it happen. This seems to be one of those cases.
This business owner did not rush into her decision to start a business, but came to it only after targeted research. It looked like the perfect niche market, and Naples has lots of special pets and affluent owners. But no matter where the business is located, unless you have something consumers want, you have nothing.
This owner stocks products designed to satisfy pet lovers like her, offers personal service, visits trade shows for the newest products and commits 20 percent of her time to researching new inventory because she understands that you have to be different. Without that, she just has a pet-supply store.
The owner has made a significant investment from her own resources. Unlike the other two examples, she has committed to a marketing budget upfront. She should be careful to find unique marketing tools that reach her desired consumers in a targeted, nontraditional and cost-effective way.