The growing 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. This has extended to companion animals, in an industry that has the advantage of being resilient even in times of recession.
That’s why we continue to experience year-over-year gains. Our four (retail, bakery, self service wash, full service grooming) revenue streams take advantage of a huge segment of the pet industry market. 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.
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
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.
The last thing any entrepreneur wants 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.
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.
Retail businesses expect an average margin anywhere above 60%. While pet food margins are mostly around 50%, popular items like toys can have 70%. Designer collars, luxury clothing and other items also have great margins, keeping the average margin high.