Should You Buy Into the Pet Industry?

The pet industry is one of the few industries that continues to perform well despite other factors. Whether its steady performance is due to economic reasons or how lovable the furry friends are, there’s no doubt that the pet industry is a booming market. If you’re curious about entering this business, learn more about what’s involved when you buy into the pet industry before making any decisions.

Buy into the pet industry alone or with a franchise.

It’s no secret that families love their pets and are willing to do just about anything for them. With that said, there is plenty of room for creative freedom. You can start your own pet business, and base your products or services around something entirely up to you. Analyze existing pet businesses in your desired area, and create a unique business plan. If you’d like a little more guidance, there is a huge market for pet business franchises. To get started, consider the top pet franchise opportunities of 2017. The list is always growing, leaving plenty of room for either entrepreneurial endeavors or purchasing an existing pet business.

The options are endless.

In addition to purchasing options, the range of products or services you offer is infinite. Statistics show that people are spending more money than ever before on their pets. The industry made history in 2015 when it surpassed $60 billion in spending. This means that if you can conceptualize a solid product or service, there’s already an existing market who will likely be interested in making a purchase.

If you aren’t interested in pioneering something new, there is a host of other services you can offer. Consider running a daycare, hospital, or pet clinic. These options are great if you have lots of professional experience with animal care. If you prefer something more subdued, services such as pet grooming, pet sitting, and dog walking are in high demand, too. No matter what route you choose to take, the odds of striking success and making money are great.

The pet industry is relatively budget-friendly.

Aside from unavoidable basic costs involved with any business purchase, the pet industry generally requires less money for two reasons. One reason is that there is little left to learn regarding basic care for animals. People already have the understanding that animals need food, toys, grooming/health items, and other forms of entertainment. Because of this, there isn’t a need for spending additional money educating your market on the purpose of your product.

In addition, mobile pet care is a new trend that also does an excellent job of keeping costs down. Vans equipped with the same furnishings in a traditional grooming store offer convenience to customers and low operational costs to business owners. These services may cost more than going to a typical pet groomer, but most customers are willing to foot the bill anyway. Customers value the convenience of the van as well as a less stressful experience for their animals.

If you’ve found your calling in the pet industry and are looking for business advice, contact the professionals at Sunbelt Business Brokers! Our team of experts can offer you the best industry knowledge and help you close a successful deal. Take the first step of your business venture and find your local Sunbelt office here.