DOING BUSINESS IN MEXICO Phase 2 Final Project Spa and Resort Dogtopia Expanding market to mexico. The very first Dogtopia dog daycare and spa opened in Tysons corner, VA in June of 2002. Live webcams were added to the site for daily daycare appointments, boarding vacations and grooming fluff.
DOING BUSINESS IN MEXICO Phase 2 Final Project Spa and Resort Dogtopia Expanding market to mexico. The very first Dogtopia dog daycare and spa opened in Tysons corner, VA in June of 2002. Live webcams were added to the site for daily daycare appointments, boarding vacations and grooming fluff.
DOING BUSINESS IN MEXICO Phase 2 Final Project Spa and Resort Dogtopia Expanding market to mexico. The very first Dogtopia dog daycare and spa opened in Tysons corner, VA in June of 2002. Live webcams were added to the site for daily daycare appointments, boarding vacations and grooming fluff.
Spa & Resort Dogtopia Expanding market to Mxico A01314018 Luz Mara Carreo Lpez A01093748 Rene Limonchi Tinajero Martin Meister A01318793 Justin Wickizer
1 Team1 Doing Business in M xico Index Introduction ....................................................................................................................................... 2 Services in Dogtopia: ..................................................................................................................... 2 Business opportunity ..................................................................................................................... 4 Description of the Situation .............................................................................................................. 6 J ustification of the proposal........................................................................................................... 7 I ntention ..................................................................................................................................... 7 Scope........................................................................................................................................... 7 The Market ................................................................................................................................. 8 Time Duration and Length ...................................................................................................... 10 Political, cultural and economic feasibility (SWOT'S). ............................................................... 14 f) Expected Results .......................................................................................................................... 25 Conclusion ........................................................................................................................................ 26 References ........................................................................................................................................ 26
2 Team1 Doing Business in M xico Introduction In June of 2002, the very first Dogtopia dog daycare and spa opened in Tysons Corner, VA. Soon after happy tails were wagging through the door for daily daycare appointments, boarding vacations and grooming fluff and dries. Live webcams were added to give loving owners a peek into their dog's day and reassured those on vacation that their dog was having as great a time as they were. Based on the outstanding success of Dogtopia of Tysons Corner, Amy established a franchise company in 2005 to grow the concept nationally. By 2011 twenty-three locations were in operation from California to New Jersey. In addition to the pampering of thousands of dogs a year, charitable giving and active community service are cornerstones of the Dogtopia dog daycare and spa model. The company is proud to sponsor foster dogs and offer a first day of daycare free to dogs rescued from shelters. In 2010 Dogtopia dog daycare and spas nationwide raised and donated over $50,000 for local and national charities. In addition, Dogtopia's Annual K9 Support Dog Wash raises funds to support military, rescue and service dogs. Characteristics of the organization Services in Dogtopia: Dog Daycare
3 Team1 Doing Business in M xico Dogs left home alone during the day may experience separation anxiety or display undesirable behavioral issues such as chewing and excessive barking. These can occur when a dog lacks sufficient exercise and socialization. Drop your dog off at Dogtopia and they'll spend the day socializing with other dogs, interacting with our well-trained staff and burning off energy. At the end of the day, you'll pick-up a happy and delightfully tired pup. Some dogs visit every day, others just a couple of times a month. Every dog is unique and we're happy to discuss the best play schedule to suit your dog's needs, as well as your busy schedule, budget and life-style. The Dogtopia team evaluates all dogs prior to attending dog daycare or boarding to ensure the safety and comfort of all guests. Overnight Boarding Bring your dog to Dogtopia for their boarding stay and they'll have as much fun on their vacation as you do on yours. You can even check in on them via our live webcams. Dogtopia offer an open-play environment focused on providing individual attention and care. Playrooms look much like an indoor dog park, with no individual kennel runs. Your dog will have the freedom to play with others in daycare throughout the day, and enjoy sleeping in a comfortable home-style crate at night. We encourage you to bring your dog's own bedding and food, as we want them to feel as if this is their home away from home. Spa
4 Team1 Doing Business in M xico Ready for your dog to look and feel their best? Reserve a spa day or grooming appointment at Dogtopia and your pup will come home looking and smelling like a brand new dog! Grooming Services include: 2 Shampoos + Conditioner Pads, Face, Feet & Tail trimmed as needed Nails Clipped, Ears Cleaned and Plucked Fluff Dry and Brush-Out Breed Specific Trims (or to your own specifications) Personalized Care and Attention Self-Serve Dog Wash Bring your dog to Dogtopia for a do-it-yourself bubble and scrub. We supply everything, including waist-high tubs, shampoo and towels. Business opportunity 52.8 Billion was spent on U.S. pets in 2012, with a 30% increase in U.S. pet spending over the last five years. 78 .2 Million dogs in the U.S., 2.1% growth over prior year services subsector growing rapidly.
5 Team1 Doing Business in M xico In Mexico, the pet industry shows a significant growth in recent years, particularly in the feed field, medical laboratories and access to the services of a veterinarian. Antonio Morfin Cross, vice president of the College of Veterinarians Minor Species Animal Husbandry Professionals in Torreon, says the market in Mexico has shown explosive growth, reporting annual rates of 30 percent. (El siglo de Torren, 2005) Gradually Mexicans have become more aware of the importance of being more responsible in caring for their pets. The increased investment in advertising by large international corporations specialized in dog and cat food has allowed sensitize people and acquire specialized products. Statistics reveal that 90 percent of pets that exists in Mexico are dogs, cats eight percent and the rest is for other animals that are raised in the home. The projections in the country for the next ten years remaining positive, maintaining annual growth rates 30 percent with the arrival of more international brands.
Concerning the veterinary medical service demand. The changes in the services requested 20 years ago to date are a hundred percent, because today there is a greater culture of
6 Team1 Doing Business in M xico people on how to care and look after your dog or cat consented, in health as in feeding and aesthetics. The general manager of Elanco Latin America North, James Minutti, said that Mxicos spending per person in the care of the pet is $ 73 per year. In Mexico there are about 16 million dogs, of which about three million are taken by their owners on a daily basis to the vet, dog population, about three million people live in the street, indicating that 48 percent of the households have a dog. (Notimex, 2013) Description of the Situation Latin America is within the regions with the most promissory future for the pet industry and in particular to the pet care. Rising incomes are allowing Latin-Americans to treat their puppies as members of their family. According to Euromonitor (The Economist, 2011) in this part of the world people are specially dogs fans and Latin pets may be the most fashionable. At a global scale something similar is happening mainly because of the humanization of pets, more and more cultures now regard companion animals as beloved family members. At Mexicos level it is estimated that pet care industry will grow near a 9% annually, especially drive by the good performance a dog food (Euromonitor, 2012). As we see pet care is booming in emerging markets, as the growing middle class stops buying dogs for only security starting doing it more for affection. As population starts to get older, more educated, marry later or with fewer or no children, the trends of taking care of pets will rise, developing new spaces for new services such as
7 Team1 Doing Business in M xico restaurants and hotels, wide variety of accessories such as clothes or collars, increasing the offer of supplements and a wider offer of premium food. J ustification of the proposal As we mentioned Latin America and in particular Mexico presents increasing opportunities to provide valued added services and products for pets, specially the related with dog care, housing and Spa. That is why we think that investing in this industry can be very profitable, especially for a company with advantages like the geographic proximity and the needed experience in pets care like Dogtopia. I ntention The present study will clarify and finally recommend the feasibility for Dogtopia to establish its services in the country of Mexico. We will analyze the best way of investment and arrival, either with the franchisee model used in the US, joint-venturing with a local or US firm or just starts establishing directly. The other point to clarify is the services to offer, as we mentioned Dogtopia offers dog care, overnight boarding, spa, grooming and self- service dog wash. Maybe adding premium foods, medical laboratories or veterinarian services could strengthen the offer and attract more customers, making it more attractive for the Mexican people. Scope Initially we will evaluate the possibility of establishing the company in the Mexicans capital. It will depend on the entry model and the evolution of the venture to capture other regional markets, especially in the biggest cities with the more potential target customers.
8 Team1 Doing Business in M xico The Market As we previoulsy said, the pet market in Mexico reached 1,000 million dollars in 2012, during the second quarter of 2012 the market grew 22 %, according to company data provided by Ahuad lejandro Goya, director of Petco Mexico who spoke of entering the market Mexico for its great potential . The pet market has grown at rates of 9 to 12 % every year. Clothing, accessories, jewelry, footwear and aesthetics have also boosted the market, it is estimated that per capita consumption of pet care ranging from 300 to two thousand dollars a month says Gerardo Galindo, Corporate Director of Marketing at MaltaCleyton . According to the INEGI Census 2011 (National Institute of Statistics, Geography and Information) in Mexico there are 26 million pets of which 19 million are seven million dogs and cats, 58% of households have pets. As for potential competitors can see that franchises have taken that opportunity to market and we can find some important national competitors like Petland firm dedicated to the sale of fish, birds, cats, dogs, small animals, reptiles and accessories and food, as well as 10 brands over franchises dedicated to the care of animals with about 50 outlets, among which are: A Dog Company, Funeral Pet, Kin Kan Dog's, Maskkotchen, Pet Wet, Spa Canine Mobile, The Dog Father, and Pet 's Shop. However, the franchise that is considered a leader in the Mexican market is +Kota, who has over 200 units in 24 states of the republic and who have been in recent days affected by criticism from Mexican citizens about their treatment of animals on display for sale to be considered that are not in top condition. In social networking has sparked a strong
9 Team1 Doing Business in M xico movement #CerremosMaskotaMxico where people think that animals are more than a pet and as a result, they should be treated well. Although Mexico is a country that is growing, and does not compare to the American market that is considered mature in terms of sales and pet care, the culture developed in the United States is much more developed in the care of the pet, the time devoted to it, investment in food and accessories. According to Euromonitor analyst Emily Woon Latonioamrica is still an important player "Led by the vibrant Brazilian market, sales of food and for the pet care are rising from the hand of the emergence of a much larger middle class ". Brazil is the largest market in the region, with sales of pet products for U.S. $ 5,200 million in 2010, followed by Mexico (U.S. $ 1,000 million) and Argentina ( U.S. $ 645 million). Other things that we see as a result of this boom is creating specialized events for pet interaction with their owners, we can find brand advertising promotions as Cloralex Pets, product specialized household cleaning pets where there have been hundreds of videos of pets, so we also have pets Expo in various cities of the republic repeatedly where people can find accessories, food and workouts today is the only event in closed place where people can attend with their pet. Also other brands have created special events like Perroton, race prepared by Dog Chow dog. As direct competition regarding Pet Spa we can mention Caninomondo who offers a spa and doggie daycare located in Mexico City and has within its service plus the pet to see time via webcam realtime, PetCentral which is more sophisticated and the appointments are scheduled for the pet, we found Spapet services and aromatherapy spa massage therapy,
10 Team1 Doing Business in M xico Mobile Canino who has been recognized as a successful Mexican company for magazines such as Entrepreneur. But all of the above are mostly service offering Mexico City although it is which contains a very large proportion of the population, the opportunity to offer a service that extends its branches in other parts of Mexico is present in the medium term. It is important to consider the new political context on which is the pet market, recently has been aproved the Tax Reform, which includes increasing the pet food tax of 16%, it is considered that this reform is affecting the market, but in Mexico most consider their pet part of the family and not just a dog so the type of spa services, personal care hotel puee considered a traditional increase in any other family expenses. Time Duration and Length The project has to be addressed in less than one year, time to analyze the best entry model, the necessary monetary and human resources, despite the time to accomplish all the governmental requirements. After the establishment of the company it is recommended to make periodical evaluations, being the first 3 years critical for sanction the ventures success. Corporate Social Responsability Corporate social responsibility impacts all facets of an organization, from sales and marketing to operations, vendor relations and talent acquisition, the importance of corporate social responsibility cannot be overstated. Whitman writes:
11 Team1 Doing Business in M xico CSR isnt about giving money to charity, or just asking people not to print emails for the sake of Mother Earth! First and foremost, businesses exist to make profit, and this isnt meant to change as a goal. The reality is that no organisation operates in isolation; there is interaction with employees, customers, suppliers and stakeholders. CSR is about managing these relationships to produce an overall positive impact on society, whilst making Money (Whitman, 2013). Dogtopia is an organization that takes the impact that they make on their community and other stakeholders very seriously. Their focus on social responsibility is at the heart of their organization. The organization has developed a set of purpose and principles known as U&I Care. These principles stand for unlimited potential, Integrity and honesty, customer service focused, active community service, responsibility and accountability and enthusiasm. In addition, they strive to be an asset in every city they join and truly believe that it is part of our duty as business owners to give to the communities that support us (Dogtopia, 2013). The company supports and raises more than $50,000k per year for the following charities: Veterans Moving Forward The American Cancer Society The Humane Society Susan G. Komen for the Cure K-9s for Cops
12 Team1 Doing Business in M xico Dogtopia has found that their CSR policies and procedures have helped create a positive and strong brand for their company, attract and hire better talent and franchisors and create a culture that has allowed them to exceed their goals and have continued success. While CSR has been prevalent in the United States since the early 1970s, In general, Mexican business culture has not emphasized CSR in the past. Cardozo Brun (2003) reported only limited awareness of CSR in Mexico, but this awareness appears to be growing (Paul, 2010). The establishment and delivery of CSR initiatives by an American company in Mexico would give the organization a make or break competitive advantage. It would allow the company to be able to clearly define who it is and how it is going to impact all the stakeholders within the foreign country, marketplace and community. This will allow the organization to achieve better talent acquisition, brand awareness and cultural acceptance. One immediate challenge that a properly communicated CSR will help is with the perspective that some nationals have when an MNC enters their community. Many times National believe that the foreign corporation is taking jobs, resources and income away from the people in the community. With a clearly defined and shared CSR message Dogtopia should be able to engage stakeholders and share with them the benefits that the company will have upon the community. It will be important for Dogtopia to focus on the local norms of the culture and business community to ensure that they are reaching all segments of the community and market.
13 Team1 Doing Business in M xico Business Model Our business model is based on the Patrick Staehlers model where some key points according to the website timkastelle.org are the three bottom boxes: Leadership Style, Relationship Style and Values considering that if we change one of the bases of the company will be probably likely need to change the rest of the business model as well.
14 Team1 Doing Business in M xico Political, cultural and economic feasibility (SWOT'S). Our business model considers the following situations in the environment for success and considerations that should be taken into account as turning points.
Market Strategy/Plan Market Entrance Strategy: In order to minimize the risks of entering the Mexican market solely through a Greenfield investment and to maximize the expertise of Mexican business entrepreneurs, Dogtpopia will enter the Mexican marketplace through franchise partnerships. Franchisors will receive
15 Team1 Doing Business in M xico ongoing marketing support from Dogtopia corporate both in the national Mexican marketplace, digitally and in-store.
Brand Development: Dogtopia has built a strong brand domestically in the United States. Dogtopia understands that different cultures value different brands values. Dogtopia will conduct consumer research to determine the traits and brand values a consumer, through these recommendations we will develop our creative strategy to be deployed in our marketing efforts. Brand value establishment and loyalty is critical in the Mexican marketplace as described by McKinesy and Companys annual report Far fewer Mexican consumers than US ones have traded down to less expensive products: instead, they have remained loyal to their brands but cut back on spending About 25 percent of the respondents said they would buy less food rather than trade down to save money and buy what they saw as inferior products. (McKinsey, 2012). Mexican consumers may already have an established relationship with a local dog groomer or pet sitter so we Will need to create a multi-faceted brand that represents what our research shows the Mexican consumers want.
16 Team1 Doing Business in M xico
Brand Alignment: Brand, service and quality consistency will be critical to ensuring clients have a positive experience at Dogtopia. Each be developed with the same feel and service functions but receive customization based upon customers and community. All marketing material and collateral will refer to one corporate website with micro sites for each location all supporting the organizations cause in order to create brand consistency and alignment. In-store marketing (Service Features): We want every customer at Dogtopia to feel at comfortable in the Dogtopia environment. Developing a unique and high quality customer experience is one of the largest differentiators that a business can have. Our in-store marketing program will focus around developing an experience where each pet and pet owner will feel at home in the store. Store design will highlight the staff and stories about their pets. This will create credibility and allow the staff to be able to relate with the customers as they will be able to see that the people caring for their pets genuine care about animals. Another in store service feature for contract customers is that they will receive their own pet locker. The pet locker will hold
17 Team1 Doing Business in M xico the pets toys, food, clothing and the end of the day report card for the pet owner. The locker will be adorned with a photo of the pet and his name giving the customer status and customization. Outbound Marketing: Advertising: We will utilize primarily community newspapers, newsletters, publications and television for our brand advertising. Each ad will contain a call to action encouraging consumers to visit the retail store. We will not utilize coupons or discounts as these types of promotions have been shown to be ineffective. Razzetti writes that the reasons for this are: Lack of familiarity with the redemption process, coupons normally not promoting products that Latinos prefer, Shame of being perceived as poor (Razzetti, 2011). While television advertising can be expensive in Mexico it will reach the target audience that we are seeking to engage with. For this reason television advertising is still an effective outreach medium in Mexico. Wentz writes: Most Mexicans get only six TV channels at home -- four from Televisa and two from Azteca. With half the population living in poverty, only the relatively affluent can afford luxuries such as cable TV and the Internet, so the bulk of Mexico's $4 billion advertising dollars have stayed with the mass market (Wentz, 2010). The emerging middle class will have access to cable and televisin brand advertising will allow us to create an emotionally compelling ad that displays our brand values. Events:
18 Team1 Doing Business in M xico Dogtopia will hold educational events and trainings every month at the store front or a community park. Dogtopia customers and non-customers will get together for community interaction and training on a topic of interest from one of the dogtopia specialists. In addition, as part of its corporate responsibility act Dogtopia will partner with National and community charities to further create brand awareness and alignment with its customers and community. Event marketing can be an effective way to engage with Mexican consumers as NAPA auto parts found out NAPA has found that using event and experiential marketing to reach our Hispanic target consumers is really effective for building brand awareness and creating a higher level of engagement than traditional broadcast advertising . (Olaughlin, 2009) Promotion will continue to take place through Direct Mail. E-mail Marketing, electronic newsletters and SMS. Messages will be segmentad to be sent to our target class and those that have been identified as new pet owners and pet product consumers. Inbound Marketing: Digitial Marketing: Digital marketing initiatives will be one of the most effective ways to reach target Mexican consumers. Latin Americans are voracious consumers of social media and are one of the most active groups across every level of social engagement in all the markets we survey. Unlike other markets, Latin Americans expect companies to interact with them via social media and social tools. The opportunity to connect with online Latin Americans can be used for social co-creation engagements. (Forrester,
19 Team1 Doing Business in M xico We will utilze SEM and PPC education based advertising based around pet healthcare and pet entertain to capture consumers and bring them to engage with us on our digital platforms. We will utilize social media, PPC, SEM, landing pages and SMS to foster engagement. Through leveraging all marketing platforms on both a national and local level brand alignment and awarness should drive the needed amount of exposure to our retail locations. Financial and organizational planning. The estimated initial investment to establish a Dogtopia in US ranges from $257,600 to $475,500, including a franchise fee of $42,500. The continuing services, or "royalty fee", is 7% of the gross sales and the Marketing Fund fee is 1%. Each is paid weekly. This fee entitles the franchisee to use the Dogtopia logo, use of the Dogtopia distinctive system, marketing assistance, ongoing business development and counseling and other benefits that come with being a Dogtopia franchisee. We consider that initial investment in Mexico could be reduced, the mainly costs that we have to pay for get start with the Dogtopia franchise are: Infrastructure (Landing, Building etc.) 500 000.00 dls (Opening at first 5 Dogtopia locations) Governmental licenses 2 000.00 dls Franchise Fee 42 500.00 dls Work Tools 50 000.00 dls Advertising (TV Sport Campaign, social media advertising etc)- 100 000.00 dls Other expenses 5500.00 dls
20 Team1 Doing Business in M xico So we thing the initial investment for Dogtopia is about 700 000.00 dollars in this we are including the franchise expenses and a large TV advertising campaign for inform customers and let them know Dogtopia is already in Mexico. With this campaign and a correct use of social media advertising, we expect to get 300 frequent customers since the first month of operations with an approximately spend of 80 dollars per month.
We expect to increase the customers like 1% a month becoming 856 frequently clients by month twelve:
Therefore, as we sow in table on the page before the earnings before taxes by month twelve would be about 28 700 dls. 0 200 400 600 800 1000 Clientes
Impact in the stockholders As the growing strategy of Dogtopia is through the franchise system there is no great direct investments for the owners, the most important impact has to deal with the necessarily organizational increase and the time required in bringing support to the new franchisees, above all thinking that they will establish in another country like Mexico than brings new challenges like culture, language and distances. Is worth to mention that Dogtopias Franchise is success is based on its clear strategy which involves ways of operation, development and marketing offering a system that covers from employees training, Human Resources processes, IT solutions, marketing support and site selection, even Dogtopia offers executive coaching where the founder and CEO Amy Nichols participates. Despite the partnership that was signed with Thomas Franchise Solutions (TFS) to promote and support their expansion in the US and Canada, Nichols if fundament in transmitting her commitment, passion for entrepreneurship and most of all the spirit of the Dogtopias business. Other impact is related with the stress that growing in a foreigner country can generate, the owner of TFS Peter Thomas says I had never fully realized how much risk a good franchisor takes out of a startup. Dogtopia has made the process as turnkey as possible, but they know the success of a franchise is still dependent on the entrepreneur. Even with an exhaustive evaluation of the potential franchisees, form management strengths to financial capacity there is going to be risks for both sides, the franchisee and the owner.
23 Team1 Doing Business in M xico This takes us to another important needed implementation, the regional development model that allows the possibility to oversee the growth and development of a large region of single-unit Dogtopia franchises where the Regional Developer plays a crucial role bringing the knowledge of the specific region. To function in Mexico this model will need straight supervision from Dogtopias headquarters. Expected improvements As we mentioned gradually Mexicans have become more aware of the importance of being more responsible in caring for their pets. The increased investment in advertising by large international corporations specialized in dog and cat food has allowed sensitize people and acquire specialized products. With this in mind Dogtopia will bring to the Mexican people a unique service with innovative products and most of all the passion for personalized pet care and exceptional customer service. The typical layout of a Dogtopia store has multiple playrooms to suit every personality and size. In addition to daycare and boarding, it also offers a spa, a self-service dog wash, and a boutique to pamper dogs of all shapes and sizes. Dogtopias clients enjoy an open layout with play equipment and special rubber flooring to ease pain on joints, prevent slipping, and provide a safer play area. Implementation Strategy To implement the landing in Mexico there are few steps that have to be taken related with Mexico itself and the US headquarters. The first import task has to deal with the Human Recourses, it is critical to hire a Regional CEO to ensure and support the growth in Mexico; it is highly recommended that this manager comes from Mexico, because Dogtopia will
24 Team1 Doing Business in M xico need to drench of the Mexican culture, know that way thing are done and be highly connected to make the necessary networking. This CEO has to work in both sides of the border and work extremely closer to owner Amy Nichols and the headquarters staff. The second step is closely related with the previous point and has to deal with the mythology to seek the new Mexican franchisees, included in this process is the election of the mayor cities to star the business and the Regional Developer because he will be essential to support the community involvement. We have to remember that Franchisees success will depend on the relationship they establish with their communities. For example, many sponsor local events and donate to relevant charitable causes. The following step is related with the election of the Franchisees themself, despite their financial backing, there have to love and care about dogs but also and most import be also business savvy. Candidates should approach Dogtopia from a business perspective, be motivated to be profitable and grow their businesses, and be aligned with the company values. Finally and not less important a hole marketing communication campaign has to be created to tell the community that the best pet care company has arrived to Mexico and that for the first time there will be people that care as much as them for their pets.
25 Team1 Doing Business in M xico f) Expected Results Reducing a lot the invest in advertising for the second year of operations we expect to at least keep the number of frequent clients of Dogtopia raising the average of expenses on our products 1% per year, by the end of the year three the initial investment would be recovered, and by the eight year the earnings would be the double of the initial investment.
We expect by the second year of Dogtopia in Mexico, it be a profitable and recognized brand, starting plans to open more stores in Mexico Dsitrito Federal and, 2 years later starting the open of new stores in other estates of the central zone of Mexico, like Puebla, Hidalgo and Queretaro. We estimate that after the two initial years with 5 stores we can capture at least 10 new franchisees per year, so that the Mexican branch can be at least the 10% of the estimated growth of 400 stores of Dogtopia strategic planning for the next years, taking advantage of the 9 to 12% of marking growth (Euromonitor, 2012). $- $200,000.00 $400,000.00 $600,000.00 $800,000.00 $1,000,000.00 $1,200,000.00 1 2 3 4 5 6 7 Earnings
26 Team1 Doing Business in M xico Regarding to the market share it is not easy to estimate it because there is no official information, despite this lack of information our goal is to reach 40 franchisees or the 10 percent of market share in the next five years. Conclusion
American inventor and business man Benjamin Franklin said By failing to prepare, you are preparing to fail. We have worked dilligently to prepare by anlayzing and then selecting Mexico, the market with the greatest opportunity and best market factors. Next we idenitfied and then developed a franchise strategy to mitigate the risks of entering into a foreign market. Last, through identifying service features, customer needs and creating a unique service experience we feel that we have properly planned to make Dogtopai Mexico a success.
References 1. Notimex. (2013). Ven gran potencial en mercado de mascotas. 19/10/2013, de Notimex Sitio web: http://www.cronica.com.mx/notas/2013/771134.html 2. El siglo de Torrean. (2005). Reporta 'boom' mercado de mascotas. 19/10/2013, de El siglo de Torren Sitio web: http://www.elsiglodetorreon.com.mx/noticia/147259.reporta- boom-mercado-de-mascotas.html 3. Gigante ingresa al mercado de mascotas. Retrieved on 19 th October 2013 from: 4. http://eleconomista.com.mx/industrias/2013/09/10/gigante-ingresa-mercado-mascotas 5. Ven gran potencial en mercado de mascotas. Retrieved on 19 th October 2013 from: http://www.cronica.com.mx/notas/2013/771134.html 6. Mascotas, un mercado en crecimiento. Retrieved on 19 th October 2013 from: 7. http://www.manufactura.mx/industria/2013/08/06/mascotas-un-mercado-en-crecimiento 8. El de mascotas, un mercado de mil millones en Mxico. Retrieved on 20 th October 2013 from: http://www.milenio.com/cdb/doc/noticias2011/fcd1c695e4a21d7edcae432c9fdec744 9. El lujo llega a la vida de las mascotas de Amrica Latina, Retrieved on 20 th October 2013 from: http://www.latinamente.com/el-lujo-llega-a-la-vida-de-las-mascotas-de- america-latina/
27 Team1 Doing Business in M xico 10. Euromonitor (2012, December). Pet Care in Mexico. Euromonitor International. Retrieved on October 20, 2013 from http://www.euromonitor.com/pet-care-in- mexico/report 11. Paul, Karen. (2010). The Evolution of Corporate Social Reporting Practices in Mexico. Journal of Business Ethics (2010) 91:211227 12. The Economist (2011, September 17). Mans best amigo. The Economist. Retrieved on October 20, 2013 from http://www.economist.com/node/21529081 13. Whitman, Mark. (2013). Benefits of Corporate Social Responsibility. The Sustainable Business Forum. Accessed at: http://sustainablebusinessforum.com/sbtoolkit/179556/benefits-corporate-social- responsibility 14. Eight Models of Business Models, & Why Theyre Important. 2012. Retrieved on November 20th 2013 from: http://timkastelle.org/blog/2012/01/eight-models-of-business- models-why-theyre-important/ 15. Forrester. (2012). Latin Americans Love Affair With Social Extends To Mobile Phones. Accessed At: http://blogs.forrester.com/category/latin_american_consumers 16. McKinsey & Company. (2012). Understanding Mexicos evolving consumers. Accessed at: http://www.mckinsey.com/insights/consumer_and_retail/understanding_mexicos_evolvingconsume rs 17. OLaughlin, Sandra. (2009). Targeting the Hispanic demographic in events. Accessed at: http://www.eventmarketer.com/article/targeting-hispanic-demographic-events#.UpEyTsSsiM4 18. Razetti, Gustavo. (2011). Latinos and Coupons: A Tale of Two Worlds. Accessed at: http://www.clickz.com/clickz/column/2119615/latinos-coupons-tale-worlds 19. Wentz, Laurel. (2010). How Mexico Buys and Sells TV. Accessed at:http://adage.com/article/media/mexico-buys-sells-tv/109355/ 20. Block, S. ( 2009, October 12). Dogtopia founder is there for dog day care franchisees. Retrieved on November 23, 2013 from http://usatoday30.usatoday.com/ money/companies/management/entre/2009-10-11-dogtopia-entrepreneur- franchise_N.htm:211227 21. Hardaway, F. (2013, June 22). How Dogtopia sold me on franchising. Retrieved on November 23, 2013 from http://www.bizjournals.com/phoenix/blog/business /2013/01/how-dogtopia-sold-me-on-franchising.html?page=all 22. Pipes, K. (n.d.). Dog Dynasty: Dogtopia is on the Cusp of Major. Retrieved on November 23, 2013 from http://www.franchising.com/articles/ dog_dynasty_dogtopia_is_on_the_cusp_of_major_growth.html 23. TFS (2012, November 14). Peter Thomas Talks About Dogtopia Franchise Expansion. Retrieved on November 23, 2013 from http://www.thomasfranchisesolutions.com/peter- thomas-talks-about-dogtopia-franchise-expansion