Dog visits veterinarian due to Gastric Dilatation-Volvulus, or bloat.
Understanding Gastric Dilatation-Volvulus (Bloat) in Dogs
December 7, 2023
Ensuring Fire Safety in Boarding and Pet Services Facilities: A Comprehensive Guide
December 18, 2023

What Pet Care Businesses Should Know About Key Performance Indicators (KPIs)

In the dynamic and rapidly growing pet care services industry, staying ahead requires more than just a love of animals. As you strive for business success, understanding and leveraging Key Performance Indicators (KPIs) can be a crucial way to gain valuable insight into various aspects of your business’s performance.

At IBPSA, we are committed to helping our Members achieve their business goals while providing the best possible service for their customers and pets. Read on for a brief overview of what any pet care services business should know about KPIs, based on a presentation delivered by Al Bowman, co-owner of Cinder Hills Kennels in Flagstaff, AZ.

Why should pet care businesses measure KPIs?

 Have you ever heard the expression, “What gets measured, gets managed”? By measuring important business metrics over time, you’ll be able to assess what is working (and what isn’t) for your business and make informed decisions about a variety of factors, from service offerings to staffing to marketing efforts. For example, as Al discusses in his presentation, paying attention to your KPIs may help you do the following more effectively:

  • Maintain efficient staffing levels, identifying when and how many employees you may need to hire
  • Determine when it’s time to expand your business
  • Set appropriate prices for your services
  • Create specific goals, which can then be tied to incentive pay programs for your staff
  • Gauge the overall health of your business and get to know it at a deeper level

Tips for measuring your KPIs

Many business owners feel overwhelmed when they first start delving into their KPIs. However, for most small businesses, you don’t need an accounting background or expensive programs to harness the power of your KPIs – you can gain many valuable insights just by maintaining simple spreadsheets. The key is to approach the process one step at a time, being cautious to avoid analysis paralysis. Here are a few other tips from Al’s presentation:

  • Determine which metrics are most important for your business and demographic. While there are numerous KPIs you could potentially monitor, begin by focusing on those that are most relevant to your business.
  • Be sure to pay attention to non-financial metrics as well. As one example, a boarding facility should consider how many single pets vs. multi-pet families they are accommodating, since multiple pets typically translate to greater efficiency and higher profit margins.
  • When comparing KPIs over time, look at the same time period year over year – for instance, don’t compare a month when you are typically busy to a less busy month.

 For more resources to help your pet care business succeed, visit https://www.ibpsa.com/business-help/!