During the pandemic, Singapore saw a significant jump in pet ownerships, many of

whom were first$-$time pet owners. According to Animal Veterinary Service$$s group

director Jessica Kwok, the number of dog licences increased from about $70,000$ in $2019$

to about $87,000$ in $2022.$

Based on a Euromonitor International report, the pet dog population in Singapore

$($including unlicensed dogs$)$ is around $114,000$ in $2023,$ up by almost $3$ per cent from

$2019.$ On the other hand, pet cat population hovers around $94,000$ in $2023,$ a jump of

almost $10$ per cent compared with $2019.$

According to Mr$.$ Kam Kok Yen, head of animal health at Boehringer Ingelheim, pet

owners are spending more on their beloved $$furkids$,$ fuelled by the humanisation of

pets. He remarked that more pet owners are looking into the animals$$ health and wellbeing as they treat the animals more like family rather than just a pet.

Meanwhile, as Singapore and other countries exit from the pandemic phase and

embrace COVID$-19$ as endemic, countries have opened up their borders and

international travels are on the rise again. Mr$.$ Steven Ler, president of the National

Association of Travel Agents Singapore $($NATAS$)$ reckoned that the travel industry is

in the midst of a $$huge comeback$.$ He further commented, $$The appetite for overseas

travel is high as many desire to explore the world again and go $$revenge travelling$,$ in

hopes of making up for lost time.$$

As pet owners plan for their overseas trips, they are faced with the problem of arranging

for the care of their $$furkids$$ in their absence$.$

While this is an issue for pet owners, you see this as an opportunity. You believe there

is an attractive business proposition to start a pet hotel to meet the growing demand for

pet boarding services, particularly in the mid$-$to$-$high tier segment as $$pawrents$$ are

now more willing to splurge on pampering their $$furkids$,$ ensuring that their pets will

be well$-$taken care of whilst they are away.

Starting and operating a pet hotel requires significant investment and good planning

before commencing on this venture. You shared this idea at a recent networking event

and an interested potential investor has requested for a preliminary proposal prior to

further discussion. $[$Sources: Adapted from Lee $(2023)]$

Question $1)$ Analysis of Business Model Canvas' Cost Structure based on Research Data