Pets & Supplies Franchises   

In 2022, more Americans planned to get presents for their pets than their in-laws for the holidays, according a survey from Personal Capital. Only 19% had planned to get gifts for their in-laws, compared to 34% gifting something for their dogs and 22% for their cats. It’s hard to be an in-law, but this trend—and a rise of people considering their pets “fur-children”—is a stark sign of where people are willing to spend top-dollar. Pets, and the pet franchises that serve their owners, are increasingly becoming an economic driving factor and a form of business savvy investors should not turn their whiskers at.

Growing Market for Pet Franchises

There are four main categories of pet franchises: grooming, pet care/daycare, pet training, pet supplies and sales. These four sectors serve the millions of pets and their paying owners in the U.S. During the course of the pandemic, five million more pets found homes, a statistic Morgan Stanley and AlphaWise used to predict the pet industry will have an 8% annual growth rate by 2030. They found more millennials and Gen Zers own pets (dogs and cats the most popular choice). Morgan Stanley also estimates the annual spending for owners per pet will increase to more than $1,300 and reach almost $2,000 per pet by 2030.  They say the next decade could increase total pet industry spending to $277 billion by 2030.

The next ten years could prove immense growth and opportunity for pet franchises. As the birth rate drops in the U.S., people are spoiling their pets more and more, as shown in data on Americans’ spending on their furry friends.

Money to be Made

As younger populations are more inclined to have pets, the clientele for pet supply franchises can be return customers for many years to come. The American Animal Hospital Association says millennials have more pets than children, another data point showing the elevated place in hearts “fur children” are getting. There does not seem to be a strict area where people are willing to spend money on their pets. A TD Ameritrade study found both dog and cat owners are willing to shovel out cash for holiday presents, pet insurance, birthday parties, petcare/daycare, DNA testing, even plastic surgery, and more. Harnessing this interest with a pet franchise or pet supply franchise can prove lucrative. The sky can really be the limit when it comes to catering to pets and their owners.

Pet & Pet Supplies Franchise Opportunities

Pet franchises can provide training services like Sit Means Sit Dog Training franchises to doggy daycare like Central Bark provides and everything in between. Whether you’re a pet lover or just someone with a nose for a good investment, pet franchises can provide a growing opportunity to make money for years to come as people continue to invest in their pets. The most important factor for owners to have is knowledge of how to run a business and a willingness to work hard and learn. Your franchise fee covers training and ongoing support, a proven business model, and a full team behind you.