Franchise Spotlight: Pets
Americans love their pets! This is a sector teeming with franchise opportunities and looks set for a bright future.
The pet industry is set to reach a staggering $99 billion in the US by the end of 2020. With almost half of all US households owning a dog, the way we look after pets and the role they play in the family has dramatically changed over the years. Gone are the days of the dog’s purpose being purely to guard the house, or the cat’s number one job being to catch the mice.
Now our furry friends are respected members of the family, and pet owners are willing to pay the big bucks to keep them well-groomed, fed and looked after. A breadth of franchises has therefore grown out of this change in the pet industry. These range from the traditional dog walking, grooming and pet food to the more niche pet therapy, animal outfits and pet painting.
Pet industry analysis
One of the biggest changes in the pet industry is the food market, and statistics show a steep growth in this sector. The rise in cleaning eating, organic products and nutritional wellbeing amongst people has, in turn, affected how we feed our pets. Gourmet, organic and even vegan pet food is now on the market and customers are willing to pay for it. There is therefore a wealth of opportunities to explore in this corner of the market.
One of the great benefits of this sector is its scalability and teachability. If you have a passion for animals, learning the ropes of a pet franchise should be fairly straightforward.
Understandably, there can be lots of regulations to adhere to, as the pet’s wellbeing and safety is paramount, however, the business models are often efficient and easy to learn. There is also great potential for expansion with these kind of franchises, you can keep them small or grow them as large as you like.
Our love of animals, and in turn, the franchise sector, looks only set to grow and will continue to offer a diverse range of profitable business opportunities.