Every year, the American Pet Products Association publishes the statistics in a comprehensive report that analyzes pet industry growth. As usual, it’s good news!
Pet parents and entrepreneurs alike can all agree, the pet industry is continuing its trending growth seen in the last three decades. Since 1994, the pet industry has seen U.S. expenditures rise a whopping 269%. The total expenditures ended at $66.75 billion for the 2016 year, a 10.7% growth. This number actually surpassed economic predictions by four billion dollars. Even marketing gurus like Ellen DeGeneres are hopping on the pet industry growth train.
If expenditures continue to rise at the rate of the current trajectory, the pet industry is expected to reach $96 billion within three years, according to Packaged Facts.
The reason for these climbing numbers is no secret. The dog ownership statistics also show more Americans are apt to own a dog or cat. 65% of the population reports owning a pet with around 77.8 million dogs and 85.8 million cats being the most popular pet choices. In 2015, food sales alone grossed $23.05 billion.
These numbers show that the kinship between human and animal is stronger than ever and pet parents are willing to pay for the wellness and comfort of their animals.
Pet Grooming Industry Growth in the Dog Groomer Retail Segment
Breaking down the numbers of APPA’s market size report shows that pet groomers operating in the retail sector are the most profitable. With food, retail, and grooming sales making up $42.74 billion there are multiple opportunities to earn in this segment. Many workers have found huge financial success without the encumbrance of traditional corporate America bearing down on them.
According to the U.S. Bureau of Labor Statistics, over 103,996 businesses are currently operating as dog groomers in the U.S. with an average growth rate of 8%. 189,384 individuals are employed in the grooming industry alone.
Trends beginning in 2014 and plateauing last year are continuing to diversify the range of service opportunities groomers can provide. Holistic services like aromatherapy, luxury spa experiences, and doggie facials are now an expectation.
Online shopping will continue to grow but adversely cannot abrogate pet retailing. Pet retailer experts state that just as groceries stores continue to provide for consumers that just ran out of milk, brick-and-mortar pet stores will provide for customers that just ran out of dog food.
Also, a side effect of the premiumization that led to pet industry growth in 2014 is the availability of high-quality products. Products like natural flea and tick repellents, dog toys made with natural fibers, and holistic or human grade dog food are all embellishing the marketplace options for pet owners.
Pet Industry Expansion
The pet business industry has opened and diversified into some lavish spending options for customers. One of the more traditional segments growing is dog training. Particularly in online dog training courses. One of the biggest names in cloud-based training is Wagfield Academy—a customizable online training course that meets the needs of all training goals.
Another sector experiencing pet industry growth is in medical services, predominantly physical therapy. Dogs with mobility complications can now get treatment in various holistic therapy programs. Treatments like acupuncture, herbal and nutritional therapy, and deep-tissue ultrasonic healing are all becoming more commonplace. Dog yoga is also an option with kits starting at $535 designed by yogi instructor Suzi Teitelman.
One of the more acrimonious but necessary sectors of the pet industry is providing for deceased pets. Many pet parents want to honor their passed loved ones and are more than willing to finance their lamentation. The oldest operating pet cemetery in America—Hartsdale Pet Cemetery—offers plots for $1,800 without upkeep charges.
These are examples of how exploring foreign territory in the pet industry has forged new segments in the marketplace. A prospect that is lucrative and less financially risky is franchising. There are dozens of pet franchises that are growing strong, with Splash and Dash Groomerie & Boutique leading the pack.
What Future Franchise Owners Will Want to Know
From an investor’s standpoint, you can’t go wrong with the pet industry. During the Great Recession, the pet industry proved its resilience by being one of the few industries that grew during the hard economic times.
If you dream of one day opening your small business in the pet industry then please consider owning a franchise. Depending upon your situation choosing to own a franchise could be more viable than proceeding solo.
Operating a brick-and-mortar groomer and retail store requires a huge investment of time and money. Hiring employees, selecting a POS system, shop build-out, and stocking your shelves just scrapes the list of the tasks that need to be completed before opening. This is why many entrepreneurs favor franchising over going solo.
A good franchisor trains and supports their franchisees through the whole process. Every aspect of a prospect franchisees’ due diligence should be backed by the franchise. Your success should be the franchise’s success!
At Splash and Dash Groomerie & Boutique we aim for our shop owners to break even only six months after opening. We do this with proven business methods aimed for profits. We have a thriving company culture based on family centered core values. If you don’t believe us, please visit a shop, talk to an owner. See for yourself the difference Splash and Dash makes every day in the growing pet industry.
Follow Splash and Dash Groomerie & Boutique: