Pets aren’t just animals that hang around the house; they’re members of the family. They bring us comfort and companionship, as well as endless entertainment. And, if you own a dog, it encourages you to exercise every day.
We love our pets in the United States, making pet franchises a particularly appealing business proposition. From cats and dogs to exotic birds, reptiles, and fish, the American public has a genuine soft spot for our fellow mammals, fish, birds, and amphibians.
Expenditure on pets and pet-related products amounts to an annual revenue of $99 billion in the US – a figure that grows year on year. And after the stay-home orders of 2020/21, more of us have taken on pets to help stave off the isolation.
According to the 2018-19 American Pet Products Association Pet Owners Survey, 68% of US households have adopted a pet – equating to 84.6 million homes.
That’s a heck of a lot of pets!
Cats are America’s most popular pet, with 94.2 million of them holding court in owners’ homes.
Other animals kept as pets include:
- Dogs – 89.7 million
- Birds – 20.3 million
- Saltwater fish – 18.8 million
- Small animals, such as hamsters – 14 million
- Reptiles – 9.4 million
- Horses – 7.6 million
So, if you love working with animals and helping people, then a pet franchise could provide access to the booming pet industry for a super-satisfying way to earn your crust.
Franchising
Pet ownership is growing, helping people combat loneliness and isolation – and if we’ve learned anything throughout the COVID-19 pandemic, it’s that pets provide excellent company. So, there’s never been a better time to enter the pet industry.
But going into business on your own is difficult. Penetrating this saturated marketplace requires innovation, expert marketing prowess, and access to a supply chain that offers excellent returns. Independent companies are notoriously challenging, with almost half of all indie startups going bankrupt before they have even recouped their first investment.
Going into business independently is full of pitfalls; many of which are avoided by franchisees who enter their chosen sector with the support of an established and experienced partner.
Franchise businesses represent an almost foolproof way to become your own boss. Franchise parent companies are established businesses, offering access to an existing supply chain and a valuable customer base, proving priceless for people who have no prior experience of running a business.
When you invest your money and time into a franchise, you take on a cornucopia of priceless benefits that help you get started without falling into the inevitable pitfalls experienced by independent entrepreneurs. In short, you buy into a business that people already know, love, and trust. And when people are looking for businesses to care for their beloved pets, they’re not going to trust just anyone.
Franchising proffers instantly recognizable branding and a ready-built reputation for excellent customer service. When you take on a franchise, you receive excellent training from the parent company to ensure that you can uphold their hard-earned reputation, bringing you up to expert status right from the beginning of your new business journey.
In addition to training, many parent companies provide a range of HR facilities, from employment support to financial guidance, offering compliance with complicated business-, employment-, and financial regulations.
Facts About Pet Franchises
Pet franchises offer entry into a range of pet-related professions, from pet retail to breeding and supply. Other businesses provide pet-sitting/daycare facilities, professional grooming, behavior training, and dog walking/minding.
Market research from Edge by Asential discovered that, in 2018, pet care-related businesses were worth a staggering $225 billion each year in the US. And They project that by 2023, that figure should rise to around $281 billion.
Most pet franchises are small businesses operating on a local level. Pet franchises provide entry into trustworthy dog walking and cat sitting services, offering the reassurance that people’s homes and beloved family members are in safe hands.
Pet franchises that manufacture or distribute pet food have seen significant increases in the number of pet owners opting for specialist foods that target their pets’ specific dietary needs; with cat and dog owners spending around $300 a year on feeding their pets.
Additionally, dog owners spend, on average, around $70 a year on grooming their pups.
Millennials own almost a third of all pets in the US, with over two-thirds of them opting for natural or organic feed for their pets. On average, around 42% of dog and cat owners purchase premium food for their pets.
The COVID-19 pandemic has significantly affected pet ownership: over 20% of pet owners spent more on their pets during stay-home orders, and 12% of adults with children (under the age of 18) adopted at least one new pet.
Franchising Vs. Independent
All franchise opportunities require a financial investment, and most pet franchises ask for a minimum cash investment starting at around $50,000, upward to several hundred thousand.
Most of us need funding from banks or moneylenders to get our hands on that type of collateral, which is where franchising really does come into its own.
Independent businesses often struggle to achieve their startup funds because they lack a reputation and have no evidence of market penetration and viability. Franchises, on the other hand, inherit the reputation of their parent company, making them a far lower financial risk than independent companies.
When you buy into a franchise, you take on instantly recognizable branding, bringing immediate curb appeal. Not only that, but your future customers know that they can rely on your services because your reputation is bolstered by that of the parent company.
Franchising really is the common-sense way to go into business. Explore our range of excellent pet franchise opportunities for a fantastic business model that suits your skillset.