Pets are BIG business. But you probably already knew that, since the chances are high that you have a pet. According to the 2019-2020 American Pet Products Association’s National Pet Owners Survey, 67% (2 out of 3) of U.S. households own a pet. That equates to 84.9 million homes. That’s a lot of fur, fins and feathers!
Not only are there a lot of pets, we really like to take care of our furry friends. In 2019 the U.S. pet Industry market size was $95.7 billion, of which, $10.3 billion was spent on services defined as boarding, grooming, insurance, training, pet sitting and pet walking.
Franchising provides a great platform for nearly every style of investor to find the right fit in the pet industry. Just like there is a pet for every owner, there is a pet franchise for every investor.
Franchises, like pets, come in different sizes. Some are small, “owner-operator” models. Others are medium-sized like a “manager” model, and still others are huge, like the “executive” model. No one franchise model is better than the others, just like Chihuahuas are no better than Great Danes. The model just needs to fit the objectives of the investor.
Owner-operator models are usually one-person operations and have initial investment. This type is suited for those who want to have the control of their time and be free from the extra overhead of employees. Think of grooming and training.
Manager models have the investor as actively involved in the daily operations, either in business development (sales) or operations, and with a team to oversee. This allows for expansion beyond the owner-operator model. Think of retail (both food/supplies) and full-service grooming.
Executive models are set up for an investor who wants to take a semi-active role in the business, while having a manager(s) responsible for overseeing daily operations, sales and team leadership. While this model has the highest overhead, it also has the greatest potential for expansion. Think boarding (doggie daycare) and fleet-based mobile grooming.
Regardless of the model, the pet industry allows every style of investor to find the business that fits their needs, puurfectly!
– Sue Bennett, Certified Franchise Consultant
Sue Bennett, CFE, CFC; Co-owner of FranFinders, a Franchise Consultancy and Funding Company, with her husband Rob, since May 2008. They have helped hundreds of clients create wealth through franchise ownership. For more information, visit www.franfinders.com.