Laura Bennet, a Fellow Clevelander, and online networking friend of mine, wrote a post last year on “Pet Industry Statistics and Trends,” which included this pretty amazing figure:
“According to the APPA, $3.2 billion dollars was spent on pet services in 2008, projected to grow over 6% to $3.4 billion in 2009.” That’s right; the pet industry is huge, and it continues to grow. Read Laura’s post over at Small Business Trends to find out why.
Is there a way for you to get in on some of the action in the pet industry?
If I was “franchise material,” I would probably look into some type of pet-related franchise opportunity. But, I’m not. What I mean to say is that I’m just not a great candidate for a franchise business. I actually tried it once, and I found myself disagreeing with the franchisor most of the time. I’m just not a rule-follower. Make sure that you are, if you’re going to become a franchisee. Here are a few other things to consider.
I happen to really love pets…dogs especially. I’m able to easily picture myself owning some type of dog day care, or dog boarding and grooming business. I don’t think that I would mind getting a little dirty, as long as I could make a decent profit and have a little fun. (Plus, I’d be around dogs.)
Of course, I’d have to do lots of other business-related things. Like:
- Write monthly income statements
- Do quarterly taxes
- Deal with local and state governments/regulations/inspections
- Do sales and marketing
- Hire and train employees
Becoming a small business owner is an “all in” affair; you can’t expect to do just the stuff that you like. If you end up becoming the owner of a pet-related franchise business, make sure that you’re willing to spend some of your time away from the thing that you probably love; the pets.
There are several different sub-categories in the pet franchise sector of franchising. To learn what they are, and to get a better feel for what opportunities are available in this exciting and growing area of franchising, check out the Franchise Direct Pet Franchise Industry Report.
Maybe you’ll be able to visualize yourself as the owner of a pet-related franchise.
(The Franchise King®, Joel Libava, is the King of straightforward franchise information, and a strategic marketing partner of ours. Check him out at www.thefranchiseking.com. Joel’s 1st book is due out this fall.)