Pets & Profits Could a pet franchise be right for you?
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By Lisa Welko
oday, nearly 80 million Americans are pet owners—that means more people have pets than ever before, according to the American Pet Products Association (APPA). And they’re not afraid to pamper them. In fact, this year alone pet owners are slated to spend more than $72 billion on their furry friends—which means there has never been a better time to own a pet franchise. From daycare and boarding, to grooming, training and all-natural foods, the pet market is a lucrative one, even in times of recession. According to Forbes, 92 percent of pet owners spend the same or more on their pets in a recession. After all, they’re part of the family.
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FranchiseDictionaryMagazine.com
While you may be the world’s biggest animal lover, keep your franchise business decision about business. A “cheap” business can be an expensive mistake. Even if you’ve narrowed your franchise search to the pet industry—you still need to ask business questions. What’s the average investment? How many others are in the franchise system? How does the franchisor support my efforts? Is this business one that requires me to work full-time? Is there an opportunity to scale the business? Explore these questions and others, when looking to open your own business. Thinking of joining the pet franchise industry? Here are three popular categories to consider:
