JUNE 2023 ISSUE

I think having an animal in your life makes you a better human. – Rachael Ray Americans love their pets, going back cent uries to Native Americans who kept dogs as pets and the colonists who kept a wide variety of pets. Today, the inclusion of “fur babies” in households has only grown. In fact, according to Forbes , there are about 5 million more pets in the U.S. as of mid-2022. That is an increase since 2019. The pandemic saw a dramatic increase in pet adoptions, resulting in an economic category with soaring growth potential.  The experts at Morgan Stanley predict the retail segment will have one of the most significant rates of return between now and the end of the decade. They believe the compound annual growth rate for the industry will be about 8% by 2030. Some of this growth will be powered by spending on new and more sophisticated drugs and treatments to keep our beloved dogs, cats and more well for as long as possible, but rest assured that the figure will also include no small amount of pampering. Per household, Morgan Stanley forecasts spending to increase to more than $1,300 per pet by 2025, climbing to almost $1,900 per pet by 2030. So if you are an entrepreneur with a love of animals, you wouldn’t be wrong to think there’s no better time to establish your own pet-related business. Why a Pet-related Business? Obviously, the demand is high and continuing to grow for businesses that cater to our furry friends. But that is just the tip of the iceberg regarding why a pet-focused franchise is a smart move for your future. People today have much different attitudes about pet ownership than they did 50 years ago. Most people today view their dogs and cats as members of their families. And many people are even opting for pet ownership over having children. A recent survey by Rover found that about 25% of Generation Z and millennial pet parents either delayed having a child or decided not to have children altogether and instead opted for a dog because of the lower total cost involved. If that weren’t reason enough to consider turning your love of animals into a business opportunity, there’s also the fact that historically the pet industry has felt less of a pinch during recessions. This makes it a more consistent and reliable industry. People need to buy food for their animals and want to provide toys and other services to keep Fido or Fluffy happy and healthy. It also isn’t a business prone to seasonal fluctuations, and most pet products and services don’t require sales pitches. Types of Pet-related Businesses Another advantage to pet-related franchises is that there are so many different types to choose from — in fact, you may have a hard time deciding! Here are just a few examples: Pet care services Pet sitting A pet training franchise Dog training Pet boarding Pet supplies Full-service pet care Mobile pet grooming Pet cremation/pet funerary services Pet wellness Pet foods Pet training Litter removal Pet stores and retail stores Pet clothing, toys, accessories Vet supplies What’s more, new services and care offerings are always coming available, especially in terms of health care. People want to keep their pets healthy and active as long as possible and are willing to pay for treatments, special diets and more to facilitate better lives. Why Invest in a Pet-related Franchise vs. Starting Your Own Business? Even with all the positive expectations around pet-related businesses, there are always risks involved in hanging out your own shingle. One way to further mitigate the risk of starting a business is by opting for a franchise. A pet-related franchise provides a strong brand with a proven track record of success. As a franchisee, you will have less concern over ‘Will the public have heard about my business?’ and ‘Will I have the framework to make it?’ Franchises offer training programs that help you learn the ins and outs of running the business and marketing to assist you in spreading the word in your area. They also guide their franchisees in finding the best location, securing space, or building out a location. When it comes to the franchisor’s history, they must disclose a great deal of information before you sign on so you can investigate and verify the results with existing franchisees. This assures that you understand the financial obligations and risks — and benefits — of joining their team. Finally, as a pet-related franchise business, you can take advantage of much greater purchasing power thanks to the franchisor’s much greater influence. You will benefit from this in terms of initial equipment and other purchases as well as ongoing supplies, inventory, and whatever you will need regularly to run your franchise. Start Exploring Franchise Opportunities in the Pet Industry What are your next steps if you’ve decided that your entrepreneurship dreams lie with owning a pet-related franchise? You need to investigate the franchises you are interested in to see if the franchisor’s model supports your business goals. It’s essential to have a conversation about why you want to start a business and set out your personal business goals before even looking for a pet franchise to invest in. What do you need to consider? Ask first if you want to run a business as an investor only or do you want to be involved in the day-to-day operations. If you aren’t ready to retire, are you looking to build something for your and your family’s future? Or maybe you want to find something in between that allows you to achieve a better work/life balance. Whatever your goals, be clear before you sign on the dotted line. If caring for all creatures great and small sounds like the right career path for you, it’s always a smart move to consult with an experienced franchise advisor. Not only can one of these experts save you time and money, but they also can assist you in determining the best franchise match for your needs, putting you on the path to being your own boss and a successful business owner. Contact Franchise Consultant Seth Lederman if you want to learn more about how to get started pursuing your pet-related entrepreneurship dreams today. About the Author Seth Lederman, CFE, a Franchise Acquisition, and Development Specialist, is a multi-faceted entrepreneur with over 30 years of experience in small business success, including ownership and sale of his business enterprises. He is a freq uent contributor to The Franchise Journal and is on the exclusive Forbes Business Council. Contact Seth at seth@thefranchiseconsultingcompany.com .

As a young entrepreneur, I have embarked on an exciting journey that has not only shaped my business acumen but has also taught me valuable life lessons. One of the most profound experiences has been witnessing the remarkable bond between kids and their beloved pets. It is no wonder that the pet industry is so large. It touches so many people and children especially become a pet person early in life or they don’t. This follows them throughout life and that in turn fuels the growth of this industry. My family has always had dogs, hedgehogs, fish and all of them were considered family members. In this article, I will explore the transformative power of this relationship, both for children and adults. A Lesson in Responsibility: Pets have an incredible ability to teach kids the importance of responsibility. Through my experiences, I have observed my friends and family taking charge of feeding, grooming, and walking their furry companions. These responsibilities cultivate a sense of accountability and empathy in children, as they understand that their actions directly impact the well-being of their pets. Emotional Development: Interacting with pets fosters emotional growth and development in children. I have seen firsthand the positive impact pets have on children's emotional well-being. Animals provide unconditional love, companionship, and support, offering a safe space for kids to express their feelings without judgment. This emotional connection helps children develop empathy, compassion, and a sense of self-worth. Enhancing Social Skills: Pets serve as wonderful facilitators for social interactions among children. Whenever I bring my dogs to the park, I see how people come together in a shared love for animals. Through these experiences, children learn to communicate, cooperate, and collaborate, forming lasting friendships and building their social skills. Building Confidence: The presence of pets can significantly boost a child's confidence and self-esteem. Witnessing the positive impact pets have on kids has shown me that the pet industry is not only about caring for our furry family members but it is also By overcoming fears, learning to handle pets, and witnessing their impact on others, children gain a newfound sense of confidence and belief in their abilities. Entrepreneurial Opportunities: There are so many business opportunities centered around kids and pets. From creating pet-themed products to organizing pet-related services and events, there is immense potential for young entrepreneurs to tap into this thriving market. When kids see entrepreneurship as an opportunity to merge their love for animals and business to create a fulfilling and purposeful venture, the horizons become vast.  The bond between kids and pets is a remarkable phenomenon that shapes the lives of children and young entrepreneurs alike. From learning responsibility and emotional development to enhancing social skills and building confidence, the impact of pets on kids is undeniable. As a young entrepreneur, witnessing and nurturing this connection has been a source of inspiration and a reminder of the power of passion and purpose. As we continue to explore the potential of the pet industry, let’s celebrate the pawsitive impact that pets hav e on the lives of children and their entrepreneurial journeys.

Investing in a mobile pet grooming franchise can be a wise decision, not just for its profitability, but also for the convenience it offers pet owners. With over 63 million households in the USA owning at least one dog, as per the American Pet Products Association, there is no doubt that there is a massive demand for pet grooming services. However, in addition to the convenience factor, mobile pet grooming services also provide significant benefits to the pets themselves. Unlike traditional brick-and-mortar grooming salons, mobile pet grooming franchises offer a less stressful and more personalized experience for pets. Pet owners no longer have to worry about their furry friends being placed in kennels for extended periods, which can be an uncomfortable experience for some pets. Instead, mobile groomers offer one-on-one attention to pets, making them feel more relaxed and comfortable during the grooming process. Additionally, the lack of distractions in a mobile grooming environment can help minimize stress and anxiety for pets and the groomers. In a traditional salon setting, the sounds and smells of other animals can be overwhelming for some pets. The cramped quarters and constant barking of many dogs is also stressful for the groomers. In contrast, mobile grooming services provide a quieter and calmer environment, which can be beneficial for pets who are easily stressed. For business owners in this sector, the mobile format means groomers can operate in a calmer work environment and thus be more likely to stay on the job month after month. Another significant advantage of mobile pet grooming is the flexibility to accommodate the specific needs of each pet. With a mobile service, groomers can take the time to understand each pet's unique personality and grooming requirements. This personalized attention is not typically possible in a traditional grooming salon where staff are often busy and focused on grooming & caring for multiple animals at once. Moreover, pet owners are willing to pay a premium for this personalized, less stressful experience. According to a survey by the American Pet Products Association, pet owners spend an average of $95 per month on grooming services for their dogs. This represents a significant market opportunity for mobile pet grooming franchises, as pet owners are willing to spend more for their pets' comfort and wellbeing. In conclusion, a mobile pet grooming franchise is not only a profitable business opportunity, but it also provides significant benefits to the pets themselves. With a more personalized, less stressful grooming experience that meets each pet's unique needs, mobile grooming services are becoming an increasingly popular choice for pet owners. As a result, investing in a mobile pet grooming franchise can offer entrepreneurs a unique and highly rewarding opportunity to tap into the growing pet care industry. About the Author Aaron Bakken has spent 22+ years as a business owner - in and outside of franchising - and currently owns 3 different franchise businesses. He also spent 5 years as the VP of Franchise Development for an international franchise brand and has been a broker with the Franchise Consulting Co. since 2018. Contact Aaron at aaron@thefranchiseconsultingcompany.com .

Owning a dog care franchise can be a profitable business venture in 2023 and for many years to come. Pet ownership in general is at an all-time high and dog ownership, just the United States alone, now exceeds 69 million households! Dog owners are always in need of reliable, trustworthy and high-quality dog care services for their furry companions, making the demand for these services ever-increasing. Here are some reasons why a dog care franchise can be a profitable business: Growing demand for dog care services The demand for dog care services has been growing over the past decade, with more people owning dogs than ever before. According to the American Pet Products Association, Americans spent over $100 billion on their pets in 2020, and this trend is expected to continue. This means that there is a significant market for dog care services, and franchises that can offer high-quality services can capitalize on this demand. Wide range of services offered A dog care franchise typically offers a range of services, including dog grooming, daycare, boarding, training, and walking services. This diverse range of services can appeal to a wide range of customers, from busy professionals who need a reliable dog walker to families who want to ensure their dogs are well-cared for while they are on vacation. Offering a variety of services can also help to increase revenue streams for the franchise. Repeat business One of the benefits of owning a dog care franchise is that customers often become repeat clients. Once a customer has experienced the high-quality services of a dog care franchise, they are more likely to return for future services. This means that a franchise can develop a loyal customer base that provides steady revenue streams. Low overhead costs Compared to other types of franchises, a dog care franchise can have relatively low overhead costs. This is because the franchise typically doesn't require a large physical space or expensive equipment. Additionally, many of the services provided by a dog care franchise are labor-intensive, meaning that labor costs are typically the largest expense. By managing these costs effectively, a franchise can increase profitability.  Ability to expand Another advantage of owning a dog care franchise is that there is potential for expansion. As the franchise grows and develops a loyal customer base, it can open additional locations to serve a wider area. This can help to increase revenue and build brand recognition. So yes, a dog care franchise can be a profitable business venture for those who are willing to put in the time and resources required. With the growing demand for dog care services, a wide range of services offered, repeat business from loyal customers, low overhead costs, and the ability to expand, a dog care franchise can provide a lucrative opportunity for entrepreneurs looking to enter the pet care industry. About the Author Chuck Barson is a franchise veteran and consultant. He is a pet ownership advocate with two amazing Flat-Coat Retrievers and a one little Khao Manee. Contact Chuck at cbarson@thefranchiseconsultingcompany.com.

The pet industry is a thriving market with an estimated value of over $100 billion in the United States alone. From pet food to grooming services, pet owners are willing to spend a significant amount of money on their furry friends. This market has created an ideal opportunity for entrepreneurs looking to invest in a franchise. Here are some facts about the pet industry and why it makes a great business to buy a franchise in. The pet industry is recession-proof One of the biggest advantages of investing in a pet franchise is that it is recession-proof. Regardless of the economic climate, pet owners will always prioritize the health and well-being of their pets. This means that pet-related businesses are less affected by economic downturns than other industries. Pet owners are willing to cut back on other expenses, but they won't compromise on their pet's needs. Increasing demand for pet-related products and services. As more people become pet owners, the demand for pet-related products and services continues to grow. There is a growing need for businesses that cater to pets. In addition, pet owners are also more willing to spend money on premium products and services that offer greater convenience and quality. Strong customer loyalty Pet owners are passionate about their pets and are loyal customers. They will often seek out businesses that they trust and have had positive experiences with. This creates a strong customer base for pet franchises, which can lead to repeat business and word-of-mouth referrals. Diverse revenue streams  The pet industry offers a diverse range of revenue streams for franchises. Depending on the type of franchise, revenue can come from selling pet products, offering pet grooming services, providing pet daycare and boarding services, or selling pet insurance. This diversity provides franchises with multiple income streams and the opportunity to expand their business in the future. Low overhead costs Compared to other industries, the pet industry has relatively low overhead costs. This is because many pet-related businesses can be operated from small spaces and don't require expensive equipment or large inventories. Additionally, many pet franchises offer training and support to their franchisees, which can reduce startup costs and minimize risk. Support and training from franchisors Pet franchises typically offer comprehensive training and support to their franchisees. This includes assistance with site selection, lease negotiations, and marketing strategies. Franchisors also provide ongoing support to help their franchisees succeed, such as operational support, marketing support, and regular training programs. This support can be invaluable for new franchisees who may not have prior business experience. Established brand recognition Buying a franchise in the pet industry means that you are investing in an established brand with a proven track record. Many pet franchises have been around for decades and have a strong reputation in the industry. This can help new franchisees to establish their business quickly and effectively, as they can leverage the brand recognition and reputation of the franchise. Opportunities for growth The pet industry is a growing market, and there are many opportunities for franchises to expand their business. For example, a pet grooming franchise can expand its services to include pet daycare and boarding, or a pet product franchise can expand its product line to include new products or services. This allows franchises to adapt to changing market trends and customer needs, and to grow their business over time. Fulfilling work Working in the pet industry can be incredibly rewarding. Pet franchises offer the opportunity to work with animals and to make a positive impact on their lives. Pet owners are passionate about their pets, and being able to provide them with products and services that improve their pet's quality of life can be incredibly fulfilling. Pets have become an increasingly important part of people's lives, and as a result, many are willing to invest significant amounts of money in their furry companions. In 2023, people are willing to spend a considerable portion of their income on their pets, including food, veterinary care, toys, and grooming. For many, the emotional and social benefits of pet ownership outweigh the financial costs. Pets provide unconditional love, comfort, and companionship to their owners, which can be particularly important during challenging times. Additionally, many pet owners view their pets as family members, and as a result, are willing to make significant sacrifices to ensure their well-being. The relationship between pets and their owners is based on mutual love and trust, and this bond is one that many people value deeply in 2023. About the Author Ann Power is a veteran in the franchise industry with over 30 years experience in Franchise Development and Consulting. Contact Ann at apower@thefranchiseconsultingcompany.com .

Part of the Franchise Myth Buster series Pet-related franchise businesses have become increasingly popular in recent years, and it's not hard to see why. According to the American Pet Products Association, pet owners in the United States spent over $100 billion on their furry friends in 2020, a significant increase from the previous year. However, as with any business venture, success is not guaranteed and depends on various factors, such as location, competition, and management. Pet franchises typically offer a range of services, including pet grooming, pet daycare, and pet training, among others. Each service has its own potential for profitability, and the success of the business will d  epend on the franchisee's ability to effectively market their services and build a loyal customer base. Perhaps the most important factor is the desire to follow the franchisor’s proven system. One advantage of a pet-related franchise business is that it provides a turnkey solution for entrepreneurs who want to enter the pet industry but lack experience or knowledge. Franchisees can benefit from the franchisor's established brand, marketing, and operating systems, which can reduce the risk of failure and increase the chances of success. Additionally, the franchisor provides training and support to ensure that franchisees have the necessary skills and knowledge to run their business effectively. However, like any industry, pet franchise businesses come with their fair share of myths and misconceptions. In this article, we will explore The 7 Myths of Pet Franchises – And The Truth. Myth #1: Owning a Pet Franchise Business Is Only For Animal Lovers Truth: Having a love for animals certainly helps when it comes to owning a pet franchise business, but it is not the only factor that determines success. In fact, many successful pet franchise owners come from a variety of backgrounds, including business, marketing, and management. As with any franchise business, having a strong work ethic, a willingness to learn, and a passion for your product or service are key ingredients for success. Myth #2: Pet Franchises Are Only For People With Experience In The Pet Industry Truth: While it certainly doesn't hurt to have experience in the pet industry, it is not a requirement for owning a pet franchise business. The great variety of backgrounds of successful pet franchise operators is proof that those without pet industry experience can do quite well. Many pet franchise businesses provide extensive training and support for new franchisees, so y ou don't necessarily need to have prior experience in the industry to be successful. If you follow their proven system, success is much more likely. Myth #3: All Pet-Related Franchises Are The Same Truth: Each pet-related franchise has its own unique set of challenges, opportunities, and requirements. There are options for nearly every level of size and complexity. There are pet-related franchises for individual owner/operators, home based options, mobile businesses, medium-sized options with 2-10 employees, and large retail type franchises that require significant investments of time, money, and staffing. Myth #4: Pet Franchise Businesses Are Only For People With A Lot Of Money Truth: While owning a pet franchise business does require an initial investment, it is not necessarily a business that is only accessible to people with a lot of money. Many pet franchise businesses offer financing options, and some even offer low-cost franchise opportunities. The all-in investment to start a pet-related franchise can range from as low as $53,000 to as high $2 million. There is truly something for every investment level. Myth #5: Pet Franchises Are Only For People Who Want To Work With Animals Truth: Owning a pet franchise business certainly can involve working with animals to some extent, but it is not the only focus of the business. Many pet franchise businesses offer a variety of services, from grooming and boarding, to training and retail sales. Additionally, owning a pet franchise business involves managing employees, marketing, and advertising, and handling day-to-day business operations. I always guide clients to find a business they really like and have a passion for. There are a lot of ways to make money……might as well enjoy it while doing so. Myth #6: Pet Franchises Are Only For People Who Want To Work From Home Truth: While some pet franchise businesses do offer the option to work from home, this is not the case for all pet franchise businesses. Many pet franchise businesses require a physical location, such as a retail storefront or grooming salon. Additionally, even if a pet franchise business does offer the option to work from home, it still requires time and effort to manage the business effectively. Many clients want a business they can run “part-time”. While they can be semi-absentee owners, they still have to hire and appoint a full-time manager to operate the business. Myth #7: It Is Hard To Make Money With A Pet-Related Franchise Truth: There is certainly potential to make money with a pet-related franchise business, but it is important to carefully consider all factors before investing. Choosing a franchise with a strong brand presence, high market demand, reasonable start-up and ongoing costs, and a proven system can increase your chances of success. Additionally, having a solid marketing plan and support from the franchisor can help you achieve your financial goals. By doing your research and carefully weighing all factors, you can make an informed decision and potentially profit from the booming pet industry. There is no doubt that owning a pet franchise business can be a highly rewarding and profitable venture, but there are many myths and misconceptions. While a love for animals and experience in the pet industry certainly helps, it is not a requirement for success. Additionally, owning a pet franchise business involves much more than just working with anim als, and it is not a business that is only accessible to people with a lot of money. With the right mindset, work ethic, and passion for the business, anyone can be successful in owning a pet-related franchise business. Get good guidance from a Franchise expert and follow the Franchisor’s proven system! About the Author Joe Fox has spent his professional career as a Senior Executive operating, buying, and selling multi-site businesses. He believes entrepreneurship is a great vehicle to financial independence and career satisfaction. Joe’s calculating and client-focused system has resulted in success for others for over 3 decades. Contact Joe at joefox@thefranchiseconsultingcompany.com for a guided approach to learn what you should know while searching for the right franchise, or when looking to franchise your existing business. Joe is based in Houston, TX and has helped startup businesses all over the US & Canada, and has won numerous prestigious awards throughout his career.

The pet care industry has seen impressive growth and evolution in recent years, fueled by a range of positive trends that are reshaping the market. Pet ownership is on the rise, with Americans projected to spend a record-breaking $109.6 billion on pets in 2021 alone. This surge in spending is being driven by a number of factors, including the humanization of pets, increased awareness of pet health and wellness, and the rise of e-commerce.  One key trend driving the pet care industry is the humanization of pets. As more and more pet owners view their furry companions as members of the family, they are willing to spend more money on premium pet products, such as organic food, supplements, and luxury accessories. This trend is particularly strong among millennials, who are delaying parenthood and turning to pets as a way to fill the void. Another key trend is the increasing focus on pet health and wellness. Pet owners are seeking out preventive care, such as regular veterinary check-ups and vaccinations, to help ensure their pets stay healthy. They are also turning to alternative therapies, such as acupuncture, chiropractic care, and hydrotherapy, to help manage chronic conditions like arthritis and improve overall well-being. This focus on pet health and wellness is not only benefiting pets, but it is also creating new business opportunities for companies that provide these services. As one would expect, the pandemic has had a significant impact on the pet care industry, with many pet owners seeking out products and services that can help improve their pets' mental well-being. As more people have been spending time at home, they have become acutely aware of the stress and anxiety that their pets can experience. This has led to a surge in demand for calming aids, puzzle toys, and even therapy sessions to help pets manage their emotions. The pet grooming and boarding franchise business sector has also seen significant growth, as more people travel domestically and internationally and turn to professional pet groomers and boarding facilities to ensure their pets are well-cared for while they are away. This has created new opportunities for franchise businesses that specialize in pet grooming and boarding, as well as for entrepreneurs who are interested in starting their own pet care businesses. With anything and everything available via e-commerce, the pet sector has been a major driver of growth in the pet care industry. Online pet supply retailers have seen significant growth in recent years, thanks to the convenience and cost savings offered by online shopping. Pet owners can now access a wider range of products, including specialty items that may not be available in local stores. This has created new business opportunities for companies that operate exclusively online, as well as for traditional brick-and-mortar retailers that have expanded into the digital realm. It does not, however, solve the need for a dog to go into the pet store and pick out a new favorite toy, get a bath, meet other dogs, etc. Thus – the brick and mortar space is still very active and seeing increased revenues thanks to high end foods, toys, accessories and services. The growth of the pet care industry has also boosted the employment sector - with many pet-related businesses expanding their staff to meet demand. From veterinarians and groomers to pet sitters and dog walkers, the pet care industry now supports millions of jobs across the country. This has been a boon for the economy, as the industry has been able to create new jobs even during times of economic uncertainty. Bottom line - the pet care industry is a sound investment. It is experiencing a period of unprecedented growth and evolution, driven by a range of positive trends. As more pet owners seek to provide the best possible care for their furry friends, the industry is certain to see continued expansion, creating new opportunities for businesses and job seekers alike. Whether you are a pet owner looking to pamper your furry companion or an entrepreneur looking to start a pet care business, there has never been a better time to get involved in this exciting and growing industry. About the Author John Pogas is a franchise consultant with over ten years of experience in franchising -both on the franchisor side and as a franchisee. He is a frequent contributor to The Franchise Journal an d is the pet parent of Minnie - his beloved Golden Retriever. Contact John at jpogas@thefranchiseconsultingcompany.com .

A Look at the Advantages of Investing in Pet Franchises The Output of Covid-19 We all know that the unprecedented changes in both our personal lives and in the business world due to Covid-19 had far-reaching impacts, some of which we are still investigating. One such impact was the phenomenon known Covid puppies; 23 million households adopted a new pet in the first year of the pandemic alone. This trend was led by younger generations, millennials and gen-z'ers, and the in-between group known as zillenials. Zillenials are that micro-generation that sits in between Millennials and Generation Z with one foot in each. They are 30% less likely than their millennial counterparts to be living paycheck-to-paycheck and are credited with driving a large portion of the U.S. consumer economy. They are also less inclined to have children and more inclined to have ‘fur babies’. For these reasons and many others, the pet industry is one of the most attractive and rapidly growing sectors in today's market, projected to reach $277 billion and expected to experience 8% compound annual growth by 2030. Resilience The pet industry is one of the most resilient economic sectors, consistently demonstrating impressive performance even during times of recession. During the 2008 financial crisis, the pet industry experienced a 5.1% growth in sales; a stark contrast to the overall market decline during that time. This trend continued in 2020 with the onset of the COVID-19 pandemic, where the pet industry saw an exponential growth in sales compared to other sectors. The U.S. economy as a whole only grew by 4.3%, while the pet industry saw an impressive 16.2% growth in sales. The industry is largely insulated from the three A’s (A.I., Amazon, and Automation). Additionally, even when families must tighten their belt, spending on pets and children are usually the last things to be looked at. The pet industry is an incredibly robust sector, proving itself time and again as one of the most reliable sources of economic stability and growth even during times of economic hardship. Accelerated Growth For those looking to break into the pet industry, franchises offer an array of advantages that make them an attractive option. Many would-be entrepreneurs are evaluating their potential investment in service providers that are community-focused and offer either a single much-needed service, or several complementary services. Businesses that offer grooming and retail, boarding, or training and sitting services for pet parents are arguably some of the most attractive investment opportunities today. From brand recognition and loyalty to ongoing support with areas such as marketing and operations management, franchises have systems in place that allow entrepreneurs to keep costs low and significantly accelerate the process of expansion – something a single unit operator would not be able to reasonably replicate. Additionally, these businesses provide entrepreneurs with access to expert advice on how to succeed in their business ventures by helping them navigate the complexities of the industry. This advice is invaluable for those looking to break into the pet space, as it offers guidance on how best to establish a successful business model while keeping costs low. A Word of Caution If you are considering investing in a franchise in this space, Keith Miller has some words of caution, however. Keith is the Co-Founder of Bubbly Paws, a dog wash and grooming franchise that specializes in tech-forward dog grooming and provides self-service wash and retail. He has also been operating his own Bubbly Paws corporate locations since 2011, so any would-be investor should take heed of his advice. “This business requires passion”, Keith shared with me. “If you are looking for a place to ‘plant your money’, this isn’t the industry for you. Dog parents want their pets taken care of by fellow animal lovers, and they can smell a fake a mile away. If you aren’t passionate about pets, you really should look elsewhere”. Keith acknowledges that this wasn’t always easy in the beginning. He had to turn down potential candidates that didn’t have the passion that he was looking for. His commitment to his own advice paid off, however, and in 2022 Bubbly Paws grew from no franchisees to 11 franchisees accounting for 17 locations, of which one is open, one is opening soon, and the rest are in the development process. “Our first franchisee, in Charlotte North Carolina, has been opened just over a week. They already have over 50 grooming appointments booked and have had 25 pet parents join their Scrub Club , our proprietary membership model. We are celebrating our second grand opening on April 1st in Keller, Texas, and that franchisee already has 55 Scrub Club members. These franchisees passion for pets and their community shows in how they interact with their customers, and that, in turn, is driving them towards explosive growth.” Smooth Out The Rough Ride In today's unpredictable economic climate, filled with dichotomies like fast-rising interest rates combined with record low unemployment and declining consumer confidence combined with growing consumer spending, investing can be a daunting prospect. Yet, the pet industry, with stable underpinnings and consistent growth, stands out as a solid wealth building vehicle. The industry is being driven by a new generation of consumers, including Millennials, Zillenials, and Gen Z'ers, who are willing to spend money on their furry friends. However, investing in a franchise requires more than just financial resources; it requires a genuine passion for pets. So, if you're ready to take the leap and invest in a franchise, remember to bring your love for pets along for the ride. With the right mindset and resources, the pet industry can offer a fulfilling and profitable investment opportunity. About the Author Contact Rob Petka at robpetka@thefranchiseconsultingcompany.com .