Trends and Facts About Pet Franchises
1. The pet business is a growth industry, with Americans spending a lot on their favorite animals. Business Week Magazine reports that 62 percent of US households own at least one pet.
2. According to the American Pet Products Manufacturers Association (APPMA), cats are the most numerous, though there are more households with dogs. Small animals, such as gerbils or hamsters, are third, followed by fish, birds, and reptiles.
3. The consumer market for pets, including different services, care and products, exceeds 71 million US households. The pet industry has doubled from a decade ago, and is expected to keep growing.
4. The APPMA reports that in 2007, US consumers spent $45.4 billion on pets, which is up from 2008’s spending of $43.2 billion.
5. Pet food is expected to reach $17.4 billion in sales, followed by veterinary care at 12.2 billion. Pet supplies and over-the-counter medication, such as flea treatments, will amount to $10.2 billion.
6. People will spend about $2.2 billion to actually buy pets, and then $3.4 billion on grooming and boarding them.
7. According to the US Census bureau, the average establishment in the pet industry is a small business, with nine or less employees, providing pet services. Veterinary services had the biggest share of this market. Pet and pet supply stores employed one fifth of the industry’s workers.
8. A wide variety of different pet franchises and businesses that have come into existence to cater to pet owners. These range from traditional pet and pet supply retail stores, to specialized boarding facilities, to professional grooming, and even poop disposal.
9. For those who want to own a pet-related business, there are many options to choose from and a high success rate, especially for franchise businesses, because Americans love their pets and will continue to spend money for all types of services and products to make their animals happy and healthy.
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