We’ve learned there is an incredible and growing demand for healthy and high quality pet foods and products. The pet retail industry is currently generating over $66 billion annually with projections of reaching over $96 billion by 2020.
The fastest growing segment of the industry is the natural foods market, coinciding with a general demand for healthy living products. Healthy living has now extended to companion animals, and the industry has the advantage of being resilient even in times of recession. When economic times are right, consumers focus their spending on providing for their families, and that includes their pets. That’s why we continue to experience year-over-year revenue gains.
Our four revenue streams take advantage of a huge segment of the pet industry market and include a retail center that offers high quality food, toys, bedding supplements and more, a bakery that offers human-grade freshly baked cookies and treats, a self service wash with our own line of proprietary shampoos, and a full service grooming service. Food alone accounts for slightly more than a third of the entire market, with $23 billion spent in pet food annually.
Wag N’ Wash offers a unique opportunity to capitalize on a resilient, yet growing industry with huge potential.
Total US pet industry expenditures reached over $66 billion in 2016. By 2020, the US pet industry is expected to reach $96 billion in sales, according to Packaged Facts, a leading market research firm.
Food for pets accounts for slightly more than a third of the entire market, with $23 billion spent in pet food annually. Toys and accessories for dogs was up 30% in 2010, from $56 million to $73 million.
Whenever our German Shepherd needs grooming this is where we take her. Very happy to have a place like this in the neighborhood. The staff is attentive and the groomers do a great job. Excellent selection of food, toys and gear too. Everything we need is always in stock. No reason to go to big box stores with places like this around. Good rewards program also.
STEVE G. – ST. JOHNS FL
6 Reasons You Can’t Go Wrong
The pet industry seems to defy all the odds during periods of recession and has actually been affected very little by the economic crises experienced so far.
Retail businesses should expect an average margin anywhere above 60 percent. While pet food margins are mostly around 50 percent, popular items such as toys have 70 percent margins. Designer collars, luxury clothing and other accessories also have great margins, which keeps the average margin high.
NO NEED tO EDUCATE CUSTOMER
Some of the most innovative companies do not get funding because of the expense that it would take to educate the customer on what the product or service does and why it is so important.
BENEFITS FROM SCIENCE
Think about the naughtiest thing your dog ever did. Bet you don’t hold a grudge. That’s because dogs and cats have something called kinderschema. It means they have a large head with big eyes, big round ears — and that you’ll forgive them anything.
The last thing any entrepreneur or investor wants to have is a seasonal business. Seasonal demand limits cash-flow to a couple of weeks per year, forcing you to stack up on inventory, which is not ideal.
The number of pets has grown to 312.1 million, generating a steep increase in demand for retail and service businesses. There are not only more pets who need to be fed, walked, entertained, groomed and boarded, but more pet owners spend money on them.
“I researched different industries, ultimately deciding that the pet industry would be interesting and also provide a modest income. The financial growth over the last ten years was impressive, but more importantly, I wanted to enjoy the work and people I would be working with on a daily basis.”
– DAN HUTCHINSON
Wag N’ Wash Franchise Owner
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