In my 40 years in the pet industry I can confirm that being your own boss can be very demanding, yet wonderfully exciting. The truth be told, it isn’t for everyone. This self-assessment is a tool for your assurance that you are suited for entrepreneurship, both, personally and professionally. This will guide you through some critical aspects of your readiness to be self-employed. Compare your answers to sample answers from American Grooming Academy graduates already successfully running their own grooming businesses. This assessment will assist you in thinking through all aspects of ownership to be considered before you make a personal and financial commitment to becoming self employed.
Are you Ready to Be a Grooming Business owner?
For this assessment, there are no right or wrong answers. Ask yourself the question and read the explanations given by American Grooming Academy and graduates proven to be successful Grooming Businesses owners.. Taking the time to think through these questions, will reveal your own readiness to run a grooming business, In turn strategic planning resulting from your answers, will increase your odds of success, in business.
1. Why do I want to start a grooming business?
Successful business owning Graduates from American Grooming Academy, told us their reasons for wanting to start a Grooming Business:
- Pet services are the fastest growing sector of the pet industry
- With continued growth of the pet industry predicted, grooming is excellent small business opportunity for a well trained, business minded groomer.
- A desire to turn a passion for animals into a business doing something they loved
- There is a wide range of potential clients in their area..
- Grooming is a compliment to other businesses they were involved in, such as pet sitting, dog training,dog walking, even fostering animals.
- Were able to utilize the flexibility to groom as much or as little as needed , to get the business started. Building a home based side business, made it possible to earn the extra income needed to support plans for expansion, while building a client base large enough to support full time financial goal
- How do these reasons compare to reasons of your own?
2. Specifically, what kind of grooming business do I want to start?
Students of American Grooming Academy are provided opportunities to visit different grooming venues, and speak with other successful groomers in the field. By researching multiple types of grooming businesses,and consulting with American Grooming Academy mentors, graduates are able to find the type of grooming business best fit for them. Opportunities to consider include but are not limited to, mobile grooming, renting retail space,, operating with in a pet-based business, or a home based business.
- Have you researched grooming venues to determine which is best for you?
- Do you have a mentor in the grooming field to consult with about business ideas?
Are you interested in business classes, or consulting with American Grooming Academy mentors? Call American Grooming Academy Lifeline 888-550-9274 for information on advanced business classes , and private mentoring opportunity..
3. Why do I believe I can make this type of business work?
Although a love of pets is the motivating factor for many potential grooming entrepreneurs, American Grooming Academy graduates are successful because they understand the need to develop a business perspective. The love of animals has to be backed up with business savvy ,including the ability to gauge the success of your grooming business. Answer these questions regarding your knowledge of business and management.
- How well do you understand the business of grooming ?
- Why do you think this type of business is sustainable?
- What knowledge and skills do I have to start and control the day-to-day operations of a grooming business?
- Do I know and understand the technology necessary to be competitive in this business?
4. What is my true purpose and/or the goal I hope to accomplish with this business?
For many, personal goals like helping dogs, educating the community, or having a flexible schedule are more important than financial ones. At American Grooming Academy we train you to keep eyes on both kinds of goals. It is possible to earn a good living through grooming,yet enjoy the personal satisfaction of making a difference to others and being happy at the same time. Ask yourself:
- What is the financial goal I am seeking to achieve?
- What are my personal goals with the business?
- What is the true purpose I hope to achieve in my life through my business?
5. What education, skill or experience do I have in this industry?
To be a successful Grooming Business owner, you must acquire both the necessary grooming skills,and business skills, American Grooming Academy Advanced Pet Stylist program offers a complete formal grooming program,which includes business classes and consultation for business startup. If you are considering a school program that can support your goals of owning your own salon, this program has proven success., check out the alumni stories and testimonials on our website.
If you are a groomer with years of skill and experience, the experts at American Grooming Academy can support your dreams of owning your own business, through business classes, and private consultation. Call American Grooming Academy 888-550-9274 for a custom designed program that will fit your needs.
6. If I will need start up financing, do I have the resources and credit worthiness necessary to be eligible?
To qualify for a small-business loan, you may have to provide collateral to back the loan. SBA loans require “adequate” collateral for security on all loans, plus a personal guarantee from every owner of 20% or more of the business. A personal guarantee puts your credit score and your personal assets on the hook.
Even if you have a great business idea, a strong character and relevant work experience, it is difficult to get any money from big banks if your credit score is not above the 600 to 650 range.
There are some resources and workarounds to obtaining the financing you need.
If you are starting a business and have a poor (or nonexistent) credit history, Call American Grooming Academy for private consulting on creative financing tips, and resources.that may work for you. Some financial information you should know:
- What is my credit score?
- How much financing will I need for a comfortable business start up?
- Create a separate tax ID number to identify your business, and to separate personal from business debt.. This can be done even if you are not incorporated.
7. What sacrifices, and risks am I willing to take to be successful?
Entrepreneurship presents risks sacrifices on a daily basis.. Knowing these risks and planning ahead, can lesson the hardship, even when the sacrifice is necessary in the beginning for the business to succeed. What are you willing to sacrifice in order to succeed?
- Stability: Sacrificing personal capital,
- Comfort: Over work,and worry can result in sleep deprivation and stress
- Income : Abandoning a steady paycheck.
- Work life balance : Can’t leave work at work, work cuts into family time
- Health: stress and overwork take its toll on health
- Free Time : Most business owners are on call 24/7 for emergencies
- Trust: Relying on others (key employees) trusting they will do the job as you would can backfire.
- What will it take for me to balance personal life and business demands?
- What is my physical, mental and emotional health and stamina?
- Do I have good judgment reading and trusting in people and their ideas?
8. How well do you know yourself?
Truly successful entrepreneurs are survivors. They may fail, but keep moving forward. This takes not only passion, but also knowledge of self. Knowing your strengths and weaknesses, allows you to play to your strengths, and strengthen your weaknesses.
Label each trait by placing a number from 1 to 3, into the middle column according to how you see your present ability :
|Assign a score
|Creative Thinking.||Close minded|
|Strong work ethic||unethical|
|Visionary||Lack of insight|
|Team Player||Self centered|
|Flexibility||Inability to change|
|Business Knowledge||Unskilled operations|
|Results driven||Task driven|
- Discover which traits are 3’s. These are your current strengths.
- Discover which traits are 1’s : These are your greatest weaknesses. Work on them one at a time until they become strengths, until all the 1’s become 3’s.
- Then choose and improve traits, from the list of 2’s until all traits are strengths.
End of Assessment
Your Next steps to Readiness.
Completing this assessment will bring to light reasons the timing is good, or not so good to get started with your business.
Create an action plan for yourself, including any areas of readiness needing improvement. When you are ready to move on Know that American Grooming Academy. Is here to support your efforts ,through advanced business classes, and private consultation. Watch for answers to the next question: “What do I need to do first to make my Grooming business a reality?”