Dog Daycare & Boarding Profit Forecasting Excel Spreadsheet
Last Updated: February 24, 2022 • Visit Blog Homepage
If you're thinking about opening a dog daycare and boarding business, you're in the right place and you're not the only one. The amount of small business owners in the US (and world) is growing fast. People want to be their own boss! The pet daycare and boarding industry is growing like wildfire. It's a great industry that has a lot of longevity (spending doubled in the past decade) and doesn't seem to be going anywhere, regardless of the recent inflation.
Okay, so you've been playing around with this idea of opening a pet daycare and boarding facility. Maybe you've worked at one before and want to start your own, or maybe you have a nice piece of property that's just itching for a kennel enclosure. Who knows. Either way, you're here now and NOW it's time to start forecasting profit.
Using the spreadsheet below, you can quickly get an idea of how profitable (or maybe unprofitable) your business idea is. You'll want to play around with the values to find the sweet spot to where your business venture makes sense. Follow the five steps below and make sure to watch the YouTube video as well to see how to properly use the spreadsheet.
If you're planning on purely having a kennel boarding business, you'll want to use the Kennel Boarding Profit Forecasting Spreadsheet instead.
If your plans are only to do dog daycare and you're not doing to be doing any overnight boarding, you'll want to use the Dog Daycare Profit Forecasting Spreadsheet instead.
Last but not least, we didn't forget about the pet groomers out there. If you're opening a pet grooming business, you'll want to use the Pet Grooming Business Profit Forecasting Spreadsheet.
Step 1: Clear out all the values in the yellow boxes. They are just examples.
The spreadsheet has some pre-filled yellow boxes that show an example situation. Once you download a copy of the spreadsheet onto your computer or Google Drive account, you'll want to clear all yellow boxes.
Step 2: Enter in your business expense and revenue assumptions.
Entering your business expense assumptions can take a little time. You might want to do some research into how much certain things cost in your city. Maybe utilities are more costly than you expected. Maybe rent is cheaper than you thought. Once you've figured out your expenses, you can move to the fun part, income!
Step 3: Enter in the quantity of daycare dogs per day.
Obviously, it's impossible to know many pets you'll have at your daycare. However, since we're working on a forecasting spreadsheet, you'll have to make some educated guesses as to the quantity of pets you'll be dealing with. The revenue calculation is doing using a Monday til Friday assumption. This means that you'll be earning daycare revenue for 20 days per month (4 weeks per month times 5 days per week). You can always change these assumptions by editing the spreadsheet formulas.
Step 4: Enter in the quantity of nightly boarders.
The same goes for nightly boarders. You'll have to make a guess as to how many boarders you'll have each day. The system calculates revenue based on having full occupancy for 20 days per month. This takes into account having at least 10 days where there are no pets boarding at your facility.
Step 5: Enter in your estimated employee hours and start-up costs.
Lastly, you'll need to enter your employee hours per month and your startup costs. Employee hours are pretty simple. If you have one part-time employee per month, that's 80 hours per month (20 hours per week times 4 weeks per month). If you have a full-time employee, that's 160 employee hours per month. You get the idea. As for startup costs, that's something that's hard to figure out. These are the one-time costs that go into starting your business. It might mean the buildout costs of your facility, or the purchase of all your kennels from a kennel provider, who knows. Expect this number to be between $5,000 and $20,000 depending on the type and size of business you're starting.
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Need tips for running your business? Check out the popular posts below or click here to visit the blog homepage.
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