When our country faces an economic downturn, the first thing many of us do is slash our spending. We’ll skip our morning coffee run, put a big vacation on hold, and cook dinner at home rather than dining out.
One thing most people refuse to skimp on, however, is the care of their furry friends.
According to a study by Ally Consumer Research, regardless of the state of the economy, 53% of pet owners will cut spending out of their household budget, including on themselves, to ensure their dogs and cats have high-quality food, care, and accessories. In addition, almost half report spending the same amount per month on pets as they do on their children!
By 2030, pet spending is forecasted to grow by 103 percent, hitting $277 billion. The largest drivers of the expected increase are young Millennial and Gen Z consumers who adopt pets at a higher rate than Gen X and Baby Boomers and are more likely to allocate spending toward pet care “extras” like doggy daycare, birthday gifts, grooming, and specialized food.
If you’re a lover of all friends fluffy, feathered, and scaly and possess an entrepreneurial spirit, launching a pet care franchise may be the right business move for you. With numerous franchise opportunities available, from pet bakeries where dogs can snag their favorite treats to dog walking services that help them burn off those extra calories, FranSelect can help turn your pet project into a howling success!
Some of the most popular pet care franchises today include:
- Pet nutrition and pet bakery franchises – Pet food is no longer limited to the aisles of big box stores. Like the specialty markets that appeal to their owners, pets can enjoy the best in fresh, nutritious food as well as homestyle-baked treats, including cookies, pastries, and birthday cakes.
- Retail shops – Forget tennis balls and frisbees – the toyboxes of today’s pets are stocked with high-tech toys, indestructible chew toys, and even interactive fetch games. Add to that list traditional must-haves like leashes and litter boxes as well as luxuries such as posh pet beds, designer clothing, and blinged-out collars, and it’s no surprise the pet accessories market is projected to hit $14 billion by 2029.
- Mobile and boutique pet grooming – Every pup wants to strut their stuff at the local dog park. Pet grooming franchises can have them looking their best with options that fit their pet parents’ schedules and budgets, including self-service dog wash stations, high-end spas, and mobile grooming companies that bring the salon right to their front doors.
- Dog training – Pet owners want a well-behaved pup, but don’t always have the time to train them properly. Dog training franchises handle the hard work for them by teaching Fido to sit, stay, and heel while providing extra support so training can continue at home.
- Doggy day camps and pet boarding – One of the fastest growing pet care industries, with an average growth rate of 8.3 percent year after year, day camps and boarding services provide pets with much-needed socialization and enrichment during the workday and a welcoming place to stay when their owners have to head out of town.
- Pet waste cleanup – For those who want to outsource the worst part of pet care, pooper scooper businesses come to the rescue! Franchise owners are raking in the revenue by ensuring backyards are waste-free so owners and pets can play outside without any smelly surprises.
- Dog bars – Entrepreneurs have taken local dog parks to the extreme by creating the hottest hangout spots in town! While dogs run and play in safe, gated spaces – both indoors and outside – their humans can enjoy the best in bar grub, cocktails, and live music.
Find your pet franchise match with FranSelect
At FranSelect, we’ve connected pet lovers to franchise opportunities that fit their interests and connect them to their favorite furry customers. With a growing lineup of franchises, a booming market that can weather economic downturns, and investment opportunities that align with your risk level, the pet care industry offers you the chance to build your own business and help pets live their best lives.
To learn more, contact us HERE or call 636-530-6925.
