Pets & Profits

Pets & Profits

Could a pet franchise be right for you?

By Lisa Welko

Today, 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.

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:

Pet Food

Millennial pet owners, one of the most powerful generations of pet owners, are changing the pet-food selection. More than 55 percent of millennials will opt for natural or holistic pet food, according to a Packaged Facts’ Millennials as Pet Market Consumers report. Even for pets, natural foods and bakery goods manufactured from whole ingredients are thriving.

Doggy Day Care/ Boarding

Years ago, pet parents wondered why anyone would pay to have their dog play with other dogs while they worked. Today, however, most pet owners feel guilty if they don’t—what dog prefers to be alone? Enter doggy day care and boarding centers, which care for pets for the day (or night). Pet-care services is a $69 billion industry, according to APPA, and includes overnight boarding. Some doggy day care/ boarding franchises offer live Webcams so customers can even check in on their dogs.

Grooming

This category encompasses dogand cat-grooming services, including washing and drying, nail trimming, and brushing inside a storefront location. Some franchises offer specially designed vans that pamper pooches at their customers’ homes.

Lisa Welko helps aspiring business owners determine which specific franchise opportunities align with their strengths, goals, and values. For more information, visit www.integrityfranchisegroup.com