Pet services is one of the fastest growing business sectors in America on the count of the millions of animals that have found their home in American households. Over time, pet ownership has grown to an estimated 70% of people in the United States own a pet, which equates to approximately 90.5 million homes.
And, as people make their way back towards their “new normal,” these pet owners are going to increasingly need pet sitting services to watch after their beloved family members while they are away.
Here is some background about the booming pet sitting franchise industry:
- Pet sitting and walking is a subset of what the American Pet Products Association (APPA) calls “other services,” which also includes boarding, grooming, insurance, training, and all services outside of veterinary care. In 2021, according to the APPA, the other services category saw sales of $9.5 billion.
- Traditionally, pet sitting franchises provide a service where the pet sitter visits a client's home to watch their pets while the owner is away. However, the scope of pet sitting has expanded over the years.
- Some pet sitting franchises can be run from home, while others may be better suited to having a physical daycare location. Pet daycare franchises are especially attractive to prospective pet sitting franchisees as they typically maintain a recurring revenue stream from pet parents who cannot leave their dogs at home while they are at work, therefore needing the pet sitting services multiple times a week.
- There also may be overlap in the services a pet sitting franchise offers with other areas of pet care services. For instance, pet sitting franchises may also offer dog walking services, overnight boarding, spa and grooming services, or training. Pet sitting franchises with physical locations may also diversify by offering a retail section of their business.
- The great thing about a pet sitting franchise is that the pet industry is considered as recession resistant as it can be. Pet parents are willing to spend money on pet care services, including pet sitting, no matter what the economic forecast may be. Pets are a part of the family, and they are treated with the same love and care as a child. (More on this in the next section.)
The Impact of Anthropomorphism
Anthropomorphism is the scientific term for giving animals more human characteristics. Consider how use of the phrases “pet parents” and “fur babies” has increased over the years vs. usage of the traditional phrase of “pet owners.” The increased humanization of pets, particularly dogs, has opened the pet industry up to growth in nearly every direction, including some not previously imagined.
Going further, a large factor in the uptick in anthropomorphism is Americans are by-and-large holding off marriage until later in life. According to researchers, those who are delaying marriage and childrearing until later in life are likelier than average to own a pet in a trial run for parenting. “That’s how millennials are approaching pet ownership,” says Nathan Richter, an analyst with Wakefield Research.
This change has been centuries in the making. As columnist Helaine Olen wrote in a Slate editorial, it helps to think of our pet/child obsession as a slow, 200-year upgrade in the status of the animals of our lives. The growing urban middle class of Victorian times, separating into nuclear families as they gained distance from rural life, slowly ceased viewing dogs primarily as working animals and began to, instead, see them as companions.
In fact, pet retailer Zulily released a study that found that rather than getting married or having kids, needing more space for their pets, dogs specifically, is the main reason cited by a third of millennials when purchasing their first home.
You’ve heard of parents or parents-to-be buying the best for their baby. Now, pet parents are also increasingly making similar choices so that the animal members of their families are just as pampered as the human ones.
Initial Investment and Opening Costs for Pet Sitting Franchises
The amount necessary to open a franchise varies depending on the unique business system and execution requirements for that particular franchise. The initial investment required for a pet sitting franchise can range widely, mostly dependent on if a real estate purchase will be needed.
In addition, another major source of variability across the overall initial investment range is for the mobile-based opportunities in the industry. For these franchise opportunities, you will need to factor in the lease or purchase of a reliable vehicle to your initial budget estimates, as well as what it will take to properly outfit that vehicle, if necessary.
Our franchise profiles will present you with a basic range for the initial investment or minimum cash required to open a franchise. But when it comes to finding out the details of an initial investment, the FDD is the best place to look. Franchisors offer itemized estimates in their FDD based upon their experience establishing, and in some cases operating, units.
Keep in mind these estimates are just that, though—an estimate. Prospective franchisees should review the figures presented with a business advisor, taking into consideration their unique circumstances, before making the decision to enter into a franchise agreement.
Ongoing Costs for Pet Sitting Franchises
Don’t forget about the additional costs required for nearly all franchise businesses. This includes expenses such as royalty fees, marketing fees, software fees, training fees, and more.
The most common is the royalty fee. Royalty fees are assessed for the continued use of the franchisor’s trademarks and patented processes, along with certain types of operational support. In addition to regularly assessed fees, other fees are charged on an “as needed” basis such as audit fees, or costs for additional, non-mandatory, training.
It’s important to note that while many initial and ongoing costs are detailed in the FDD, there are some costs inherent to business ownership, like employee wages or utility costs, that aren’t.
You can also check out many more franchises here on Franchise Direct, such as: Dog Daycare Franchises.