Opportunity: We intend to purchase a 6.5 acre residential property in Waconia, MN and convert an existing outbuilding into dog boarding facility. There remains a significant opportunity for dog boarding options in Carver and McLeod Counties as Waconia and surrounding communities continue to grow. The property is priced at $750,000 and based on conversations with the sellers intend to offer the full listing price. We are pursuing a traditional commercial loan with 20% down, remaining loan details are still in process.
Mission: To provide quality and loving care to dogs in the Carver and McLeod County areas through all-day outdoor and indoor play and a safe, clean boarding facility.
Market Focus: Our target market is the middle-class dog owner who travels out of town for any amount of time or simply has a canine who thrives with additional play and stimulation during the day.
Competitive Advantage: There are very few dog boarding facilities within a 20 mile radius of Waconia. For the ones that do exist, they are either specialized (for example, towards hunting dogs), luxurious (and thus expensive), or operate on a very small scale. We would introduce a mid-level option in an extremely convenient location right off of Highway 7, a well-traveled route to the Twin Cities. The Fields will also offer drop off and pick up services within 20 miles, a true differentiator in the industry.
Ownership: There are currently 3 shareholders of the organization, and we’re seeking an outside investor to finish up our initial call for capital to reach the $150K down payment on the property and have a healthy starting cash position for closing costs, startup costs, and cushion for first year of operations.
Start Up: We intend to convert the 60x30 fully insulated garage space into a boarding facility and install a fence with irrigation system for outdoor space. Our current model includes 12 boarding spaces and capacity for an additional 10 daycare spots priced at $50/day and $29/day, respectively. There is no intention for additional employees for the first six months as we work to build capital for continued expansion. The Fields is a fully registered and active business recognized by the IRS and the state of Minnesota. We have identified a reservation and record management system, Gingr, and are in the process of obtaining our PACC (Professional Animal Care Certification). We have narrowed down the quotes to our desired vendors for the boarding equipment and fence, a total upfront cost for all startup of approximately $35K. Adam will be the operational lead of the organization and has more than 3 years of experience in a 300+ dog facility in Colorado. Faye will be the administrative lead and has more than 10 years of both public and corporate accounting experience. Our initial marketing plan will be focused on social media and in-person community engagement, participating in as many city and county events as we can this summer. Our goal is to have our opening weekend over Labor Day weekend 2023, but is heavily dependent on the loan processing time.
Daily Operations: As roles note above, Adam and Faye will be the only two employees for the first six months and will also live on site. Our hours for drop off and pick up will be 7am-10am and 3pm-6pm daily. The dogs will follow a general schedule of 6am breakfast, 6:30am-11am outdoor/indoor supervised play, 11am-1pm rest, 1pm-6pm outdoor/indoor supervised play, 6pm dinner, 8pm bathroom break and lights out. All boarding suites will be thoroughly cleaned and disinfected following check out. All dogs will be required to be up-to-date on vaccinations as posted in our reservation agreements at time of booking.
Rates/Revenue:
Boarding: $50/night - assumes pick up on final day of boarding by 10am. Pick up after 10am will incur a day of daycare charge.
Daycare: $29/day
Pick up / Drop off: $20 each way
Add on treats: $5-$15 each, depending on seasonal offering
Founders Club: As we approach the closing date on the property, we intend to offer a "Founders Club" package as a way to boost initial cash flow and lock in a customer base. The Founders Club will be priced at $500 and include: first night of boarding free, one complimentary drop off or pick up per month for the first 12 months, 3 days of daycare to be used within the first 12 months, and guaranteed reservation spot for 6 main holidays during the first 12 months when booked at least 1 month in advance. We will offer only 12 of these to ensure we have the capacity to meet these needs over the holidays and encourage the exclusivity of the offer.
Expansion: There is also an existing 60x40 pole shed that has electricity and water sources, but is not insulated for temperature control in the winter. The initial fence will connect the garage and shed spaces to ensure plenty of space to run and play in any weather as we raise funds for remodel. A significant portion of earnings will be directed towards the finishing of the pole shed to expand capacity, a goal we intend to reach within 5 years. At that time, we would also consider additional offerings for cat boarding, grooming, and training.
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