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The Recession Resilient Pet Industry and Wag N’ Wash

The Recession Resilient Pet Industry and Wag N’ Wash

 

Wag N’ Wash – The Ultimate Destination for Cats & Dogs

The idea of being the ultimate destination for cats and dogs is an idea that we’ve stood by since our very first store opened in 1999. Our mission is and always will be, “to recognize, promote, and foster the positive impact that companion animals have on their owners” – and this includes through all of the good times and all of the bad times that might occur in the world.

As we are all aware, the Coronavirus, or COVID-19, has thrown the world into a sort of disarray. Due to this, Wag N’ Wash is holding nothing back when making sure that our customers, their companion animals, our employees, our Franchise Owners, and the families of everybody involved, are as safe as possible when it comes to visiting our stores. For more information about the measures that we are taking to keep everybody healthy, you can read more about our COVID-19 Update.

Moving from the present to the future, though, it’s important to remember that all of the craziness that we are all dealing with will eventually pass, life will pick back up, and things will get back to normal. In that regard, though, it’s also important to remember that here at Wag N’ Wash, we have survived all sorts of crazy things over the last 20 years. In addition to residing in the recession resilient pet industry, by sticking true to our mission, Wag N’ Wash has remained and will remain the ultimate destination for cats and dogs.

Recession resilient, or recession-proof industries, are unique. These are the industries that are able to continue selling a product that people will buy no matter what’s happening in the economy, and yes that includes toilet paper. But over the past two decades, not only is pet ownership up but spending on pets is up. The fact is, is that people spend more money on their pets during a recession which means that the pet industry definitely falls into the unique recession resilient industry, as well! Here are some numbers:

  • Around 85 MILLION families in the United States own a pet
    • This comes out to approximately 68% of all households
  • Since 2011, spending on pets has increased almost 7% annually
    • Over the past 10 years, this number is 4.6% which is THREE TIMES faster than overall consumer spending
  • Pet care spending grew 29% during the 2001 recession and 17% during the 09-09 recession
  • Millennials make up 25% of the US population and own 35% of all pets
  • 41% of Baby Boomers over the age of 70 own pets
    • Fewer than 50% of Baby Boomers have hit 70 which means there’s plenty of room to grow

recession proof industry

From Jeff Elgin, of Entrepreneur.com’s “Recession-Proof Franchises” information section (starting a business), “Good times or bad, people will spend large amounts of money providing for their kids or pets. These expenditures can be items that many would consider luxuries, breaking the cycle of leaning toward low-cost providers… In the pet sector, groomers and sellers of boutique accessories will flourish, even during economic recessions.”

Enter Wag N’ Wash – The ULTIMATE destination for cats and dogs.

 

 

Additional notes from our President, Rob Flanagan:

I see almost all pet brands chirping on the fact that the pet industry is recession resilient. This is true! However, here at Wag N’ Wash, we can provide real data from out stores that were open during the Great Recession: 
  • We opened 2 location in 2008
  • AUV Growth from 2008-2009 was 8.45%
  • Our Littleton Store grew by 22% from 2008-2009
  • AUV Growth from 2009-2010 was 17.36%
  • Highlands Ranch grew by 46% from 2009 to 2010
Because we have five revenue streams
Because we love our guests’ pets as much as they do
Because pets are treated like family
We are the best pet option during a recession

For more information on how you can join the recession resilient pet care industry, please visit our franchising site!

 

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