Current Pet Industry Statistics That Will Make You Want an SD Franchise
Walking into a Splash and Dash Groomerie & Boutique is a unique experience. A bright eye-pleasing color palette and a clean smell are the first things customers notice—an inviting, upscale ambiance. Preferential dog owners looking for the healthiest all-natural foods and treats for their dogs know they’re in the right place.The toys are eco-friendly. The haircuts are adorable. Remarkably, the prices are affordable. Best of all, members get unlimited bathing and brushing services and discounted prices on spa treatments. Unprecedented grooming salons like Splash and Dash are rising up to meet the demands of American pet industry statistics.
Currently around 85 million U.S. homes, or 68% of the country report to have at least one pet. The number of pet owners has been steadily rising for the past few decades. Pet spending has also increased over 10% since 2015. Projections for this year are expected to reach almost $70 billion. This is amazing news since pet spending was at only $17 billion in 1994 when the American Pet Products Association first starting reporting pet industry statistics. From 2007 to 2009—the crux of the financial crisis—pet business actually grew more than 10%, showing the industry to be recession-proof. In times of hardship, people turn to their pets.
Pet Trends Rise
The reason pet industry statistics are continuing to grow is because of a cultural transition. At the center of this societal change is how we view our pets. 76% of pet parents state their pets as “beloved members of the family, according to a recent Fortune-Morning Consult Poll, while only 19% of respondents stated their pets were “well cared for, but still considered animals.”
Americans are treating their pets no different than human children.
Harold Herzog, a professor of psychology at Western Carolina University, cites the demand luxury services and products as the spark for growing pet industry statistics. “If you look at the amount of money per capita we spend on pets, it’s absolutely stunning,” he tells Fortune Magazine. Millennials, the U.S’s primary pet owners, favor having a dog over kids with 42% stating that pet ownership is the key factor to entice them to buy property over having children or getting married.
This makes sense. When last surveyed, 28% of Americans are living alone in 2014, over the 17% in 1970. Advancements in medicine have paved the way for many to live longer and adopt pets in their golden years. This cultural merging explains why these market trends are occurring—the majority of the population has the emotional space, money, and time to devote to their dogs. The evidence is even found in social media. Nationwide, one in 10 pets has its own social media account, according to Mintel, a market research agency.
The population driving pet industry statistics like these have prompted many animal lovers to forge a new and exciting career alongside animals.
Breaking Down the Pet Industry Statistics
Of the $66.75 billion spent in 2016, nearly half went toward food. For anyone who has a pet, this is not surprising. Food costs account for 42% of the national pet parent’s budget. Another reason this spending surge is occurring is that more consumers are interested in holistic foods. As humans became more concerned about the ingredients in their food, the trend naturally translated into food trends affecting pet industry statistics. Grain-free, all-natural, human-grade, and organic foods provide more nutrients and a diet more typical of ancestral-wild dogs. Higher-quality food began proliferating the market in 2015 sustained by dozens of pet business start-ups that opened that year like TurboPup and Swifto.
The opportunity to be able to provide healthy and affordable choices is why Splash and Dash shops are equipped with grooming services and retail space. Customers dropping off their dogs for grooming can take advantage of a one-stop-shop. On top of this, any leashes, collars, or other pet supplies are available too.
Pet Services accounts for $5.76 billion of pet spending. This number is projected to rise to $6.11 billion in 2017. Upscale services like ‘pawdicures and doggie facials’ complement the gluten-free snacks that a more informed and willing-to-spoil pet parent wants for their dogs these days.
Offering luxurious spa treatments that gratify owners and provide care for a pet is a needed specialty. This is why Splash and Dash offer services like Aromatherapy, Pawdicures, Facials, DeShedding, and more. The health benefits can be seen in a dog’s coat, owners are happy because their houses and dogs are cleaner, and pet franchise owners are excited to be able to profit by providing these services.
Why You Should Consider Splash and Dash
The Splash and Dash grooming franchise is unique in the industry. The signature service membership only exists at Splash and Dash grooming salons. The membership program equips franchise owners. With the recurring revenue from the membership program, owning a grooming salon has more financial stability. Members pay for the monthly signature membership and can take their pets in for bathing & brushing any time they want—convenient and affordable. Membership is a recurring revenue that makes up one source of revenue for Splash and Dash owners.
A recurring revenue stream combined with opportunities to educate customers on health benefits in the retail space is why many investors are choosing a brick-and-mortar location over mobile grooming. Also, for those who are business-minded but have limited experience in grooming, the Splash and Dash franchise business model caters to individuals with any professional background. Many current owners worked in an industry outside of pets like Wanda Camper in Gaithersburg, Maryland—who worked in government contracting before opening her shop. The pet franchise trains shop owners thoroughly for success with on-site training and support with terminal software that makes operations much easier. This allows owners to focus on customers.
For more information on how Splash and Dash can launch you into owning a small business in the pet industry, click here!
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