A Sample Feasibility Study1
I. DESCRIPTION OF YOUR BUSINESS
In recent years, there has been an increase in the number of households that have pets, especially dogs and cats. Further, there is emerging a steadily growing group of pet owners that is willing to purchase upscale, unique products for these important members of their family. Pet Élan is an upscale boutique for these discriminating pet owners. Pet Élan will offer highquality pet products to discerning individuals who wish their pets to enjoy a healthy, fun, and elegant lifestyle while being pampered. By carefully selecting luxurious accessories made with superior materials, Pet Élan will provide an elite product line that celebrates the uniqueness of each animal’s personality.
Accessories Pet Élan will make walking or traveling with a dog or cat an extension of the owner’s unique style with leashes, collars, and travel bags that make a statement. We will also offer pet home accessories including food and water bowls, pet furniture and pillows, and pet clothing made from ﬁne fabrics such as silk, suede, and faux fur. Unlike other pet stores, Pet Élan will target clientele who demand top quality in pet couture. To fulﬁll this demand, Pet Élan will order pet clothing and accessories from the trendiest brands such as Woof: The Small Dog Company,12 Dogz Togz,13 and Ruff Ruff and Meow.14 Unique Features: Limitations One of the largest threats to the luxury pet accessory industry is the presence of online stores. Pet Élan will compete with these online retailers, as well as other local pet stores. Consumers have the opportunity to comparison shop on the Internet, so Pet Élan will need to carefully determine the pricing strategy for each line of accessories to remain competitive. However, it is likely that pet owners will want to sample and view unique products we carry and will be willing to come to our store for its one-of-a-kind shopping experience— and bring their pets with them. The rise of larger chain pet stores, like PETCO and PETsMART, has made it much easier for pet owners to satisfy all their pet needs in one place. These stores are now offering pet apparel, pet furniture, and natural pet food. Pet Élan will offer a higher quality, but more expensive, product mix that may overlap with these stores in some areas. To counter this, Pet Élan will showcase the products we carry that cannot be obtained at the larger retailers. Competitive Advantage Pet Élan’s competitive advantage is quality and the ability to provide customers with the feeling that pampering their pets is an integral part of a healthy, fun, and contemporary lifestyle. Pet Élan must establish this reputation through high quality products and selective advertising and through exceptional customer service.
II. THE PRODUCT/SERVICE Unique Features: Beneﬁts Pet Élan will offer products that promote a healthy, fun, and elegant lifestyle for dogs and cats. Our products are grouped into three primary categories: dietary products, playtime products, and accessories. Dietary Products Pet Élan will offer all-natural pet food and treats, full of essential vitamins and nutrients to promote a healthy diet. We will carry two to three top-selling brands of organic pet food from the industry leaders such as Newman’s Own Organics,2 Natura Pet Products,3 and Organix.4 We will also feature snacks and treats from Old Mother Hubbard,5 Three Dog Bakery,6 Flint River Ranch,7 and Howling Hound Bakery.8 Playtime Products Playing with one’s pet is also a key ingredient for a pet’s healthy lifestyle. Pet Élan will offer products that enable owners and their pets to play in style. For dogs, we will offer toys for chewing, retrieving, tugging, and chasing. For cats, we will offer toys stuffed with premium grade catnip and other toys to chase and fetch. We will offer exclusive toy brands such as Happy Dog Toys,9 KONG Toys,10 and Fat Cat, Inc.11
Stage of Development Pet Élan is currently in the idea stage....
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