lidsterk

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Week 10 Update

Kia's Cat Scratchers Week 10 Update

This was a slow week due to work priorities and travel so unfortunately I was not able to do anything further on Kia's Cat Scratchers. I have created an Instagram account @kiascatscratchers and I have already had friends discover it and contact me about it to ask what I'm up to. I'm also very happy that my cat continues to use the prototype that I made and I've been able to take some photos of her using it for marketing materials. It's also exciting because it is confirmation that I have a good product that cats will use!

I'm looking forward to building a second cat scratcher this week and getting it advertised for sale on Facebook Marketplace and hopefully making my first sale!

I have learned that running a business is quite exciting but you get out of it what you put in and it takes a lot of hard work, time and dedication.

[lidsterk]

Kia's Cat Scratchers Week 9 Update!

Photo above - my cat sitting on the first Kia's Cat Scratchers prototype!

What is working? After completing my prototype cat scratcher (which was much quicker and easier to build than I anticipated), having my cat test it out and finding that she really liked it, I have renewed excitement for my product! I have also created an Instagram profile @KiasCatScratchers where I have behind the scenes construction photos and videos of my cat testing the products.

How do you feel the project is coming? I feel that the project is coming along very well and I am excited to make more scratchers and start advertising them for sale on Facebook.

[lidsterk]

Kia's Cat Scratchers Update

What is working?

This week I completed building my first cat scratcher and I am pleased that it was a much quicker process than I had anticipated.

How do you feel the project is coming?

Now that I have completed one scratcher and have a product to sell, I think this project is really starting to come together nicely and am excited to take some photos of my cat using the scratcher as marketing and promotional material.

What are you learning about running a business?

One of the biggest lessons I’m learning is that consistency is key, but flexibility is just as important. Running a business means being adaptable and that there’s no one-size-fits-all formula. You have to keep experimenting with new ways to improve your processes.

[lidsterk]

Kia’s Cat Scratchers Progress

Unfortunately due to other priorities, I have not been able to devote as much time over the past couple of weeks to Kia’s Cat Scratchers as I had hoped.  I was hoping that I would be able to build the initial prototype scratcher over this past weekend, but did not have the opportunity to do so.  However, I have specifically set aside some time this week to complete the first prototype.

In terms of running a business, I have learned a lot about the technical aspects (marketing, budgeting, business plan etc), but I think the most important thing I have learned at this point is that the main ingredient required is passion.  This is something I learned about myself as well, while I am interested in Kia’s Cat Scratchers and would really like to be successful in starting up and running it as a small business, I have other passions that are currently occupying my time.  I have wanted to start a larger business which I’m very passionate about and this small project has given me the knowledge, skills and some experience to feel confident that I can expand to a larger venture.

[lidsterk]

Funding Options

Moving beyond the $50 initial investment, I think that using personal savings as well as obtaining a small business loan are my two preferred strategies for funding.

Here’s a quick breakdown of my funding choices:

Personal Savings: Pros:

No debt to repay!

Full control over my business decisions.

Immediate access to funds without waiting.

While I know many friends and family would be willing to offer support, I believe that money can complicate relationships and this is a risk I'm not willing to take.

Cons:

Risking my personal financial security.

Limited resources might slow down growth.

Small Business Loan: Pros:

Access to larger funds to kickstart my plans.

Opportunity to build credit for future investments.

Less personal financial risk if I manage it well.

Cons:

Need to meet specific criteria to qualify - may not receive the loan because I don't have adequate experience or track record.

Monthly repayments can be stressful.

Potential for high-interest rates depending on my credit.

[lidsterk]

Business Operation Plan: Kia’s Cat Scratchers

Business Overview: Kia’s Cat Scratchers designs and builds high-quality cat scratchers using reclaimed wood and other recycled materials, promoting sustainability and eco-friendliness while ensuring a product that will be used and loved by your cat.

Business Objectives

Source materials from Facebook Marketplace and build 3 scratchers to sell within the next 6 weeks

Create plans for a few different styles of scratchers that can be built in less than 2 hours

Products

Product Line:

Free-standing scratchers with large base

Custom scratchers as per customer request (not anticipated to be an option until base models are created)

Materials: Reclaimed wood, natural jute, sisal rope, and other upcycled materials.

Marketing Strategy

Online Presence: Use Facebook Marketplace to advertise scratchers for sale and possibly set up Instagram to market scratchers and show behind the scenes construction

Local Partnerships: make additional scratchers to be donated to Four Paws Kamloops which offers foster homes for cats

Operations Plan

Location: Home-based in my parent’s garage where there is ample space for storing materials and tools are available.

Building:  create 3 prototype scratchers and have my cat test. Once approved, list for sale on Facebook Marketplace.

Financial Plan

Startup Costs:

Tools and equipment: Already own

Initial materials: $20 for carpet, wood available from previous construction projects and free from Facebook Marketplace

Selling platform:  Free (Facebook Marketplace)

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Marketing Persona: Cathy the Cat Lover

Demographics

Age: 30-45

Gender: Female

Location: Kamloops, BC

Income Level: $40,000 - $100,000

Occupation: Teacher

Other Requirement:  has at least one cat

Psychographics

Interests: Animal welfare and home decor

Values: Quality craftsmanship, eco-friendliness, supporting small businesses, handmade products

Goals

Prevent damage to her furniture and carpet by providing a desirable scratcher for her cat

Have the scratcher blend in with her existing decor

Challenges

Frustration with low-quality products and/or products her cat won’t use.

Buying Behaviour

Reads reviews, seeks recommendations.

Prefers online shopping for quality and convenience.

Willing to spend more on high quality items that her cat will use but does not want to spend more than $50.

[lidsterk]

My Competition

After searching competitors, I was unable to find any similar businesses operating in the city where I am located (Kamloops, BC).  I was able to find three companies that offer similar products in other locations, which I have summarized below:

1:  The Cat Scratcher (listed on Facebook)

Cost: not listed

Strengths:

Offers new scratchers as well as provides repair and restoration

Two positive reviews and recommendations from previous customers

Weaknesses:

Products and services not clearly displayed

Only listed on Facebook

Costs not listed

2:  Pioneer Pet

Offer:  Many different cat scratchers

Cost:  varies by style ranging from $25 to $80

Strengths:

Sell a wide variety of cat products in addition to scratchers

Professional and well-established website

Ship across the USA

YouTube videos demonstrating products

Good reviews from customers

Weaknesses:

Lack variety of scratchers

Mass produced, not a small or local business

3:   Dream a Little Bigger by Allison Murray

Offer:  DIY cat scratcher plans to build your own cat scratcher

Cost:  Free plans available on the website (customer would still need to purchase their own materials to build their scratcher)

Strengths:

Great website (excellent pictures with the DIY scratchers in use)

Easy to follow instructions

Budget friendly product

Has plans for a number of other cat products

Weaknesses:

Customer needs to purchase the materials and build the scratcher themselves

Customer may require specialized tools that they don’t have

Only one style of scratcher

[lidsterk]

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Message Map

PetSmart is my favourite retailer for food and supplies for my cat!

[lidsterk]

Strengths and Weaknesses

It can be a challenge to identify strengths in yourself and often much easier to identify weaknesses. This is certainly a challenge for me! After taking some time to reflect, here is my list:

Strengths

Quick learner, curious and love to learn

Problem solving

Collaboration and teamwork

Empathy and compassion

Focused but also flexible

Weaknesses

Indecisive

Uncomfortable with uncertainty

Difficulty with confrontation and avoid conflict

Perfectionism and overthinking

Procrastination

[lidsterk]