Pet Franchise: 9 Pros & Cons of Investing in Man’s Best Friend
Owning a pet franchise can be a lucrative and rewarding opportunity, but there are some things to consider. Learn the pros and cons of this type of investment.
Pets: Good Buddies, Good Business
Since the start of the COVID-19 pandemic, there’s been brisk growth in pet ownership as people spend more time at home, needing companionship and an outlet to reduce stress. The American Society for the Prevention of Cruelty to Animals (ASPCA) reports that one in five U.S. households (that’s around 23 million) brought a cat or dog home since the pandemic began.
Pet parents are investing some serious money in the health and well-being of their furry loved ones. According to the American Pet Products Association, U.S. pet industry expenditures for 2021 totaled $123.6 billion. Of that sum, $50 billion was spent on food and treats, and $9.5 billion was spent on services including grooming. All of this suggests that pet care, it seems, is big business.
If you’re looking for a franchise investment, now is a great time to consider a pet franchise. Let’s examine the pros and cons.
Owning a Pet Franchise: The Heads and the Tails
You’re looking for a good investment and you are thinking about buying a franchise that has a focus on pets. Before you decide if you want to invest in a pet-centered business, there are some factors to consider so you can make the most informed choice. Let’s explore 9 pros and cons of owning a pet business.
The pros of owning a pet-centered business
Dogs! What animal lover wouldn’t enjoy being with dogs all day? They’re the happiest, most grateful customers any owner could hope to have in their business. Here are some of the reasons it’s so great:
- A proven business model: A perk of any franchise is the proven business model that comes with your commitment. This means you don’t have to figure out how to run your business all on your own. The franchisor has tried and tested, tweaked, and improved the operational details so you can make the most of your business.
- Training: You also don’t need a lot of experience in order to run a pet business successfully. Most franchises offer some degree of training, so you’ll know how to execute the business model to be prepared for opening day and beyond.
- Marketing: Another pro of owning a franchise is having support with marketing initiatives. You want to reach your customers and grow your business with effective and targeted marketing. Franchisors know successful marketing lifts each franchisee and the brand as a whole.
- Other franchisees: Not only do you have the support of the franchisor, but you also have a strong support network in your fellow franchisees. They can be a wealth of experience and assistance when questions arise about how to make your business thrive.
- Growth potential: Dog franchises like Woof Gang Bakery & Grooming offer franchisees the chance to grow with a developing brand. For example, Woof Gang has over 200 locations in 18 states and is expanding nationwide.
The cons of a pet-focused business
Every business has challenges and a pet-focused franchise is no different. Here are a few ways Woof Gang effectively addresses the cons:
- Dog owners: Sometimes dog owners can be demanding. Since we know dog parents want the best for their dog, we have a tailor made and time tested experience to reduce the stress owners, parents, and pups feel.
- Lack of creativity: Franchisees follow a blueprint established by the franchisor. At Woof Gang, we do our best to maximize the creative choices an owner can make, but our guidelines are a tested blueprint for success. More creativity can mean more risk.
- Initial costs: With some franchises, the initial costs can be high. Woof Gang has some of the lowest opening costs in franchising and in comparison to opening a business on your own. You get access to a network of business representatives that will make sure every aspect of opening a business is successful, and you’ll have access to nationally negotiated discounts.
- Royalties and fees: Nearly every franchise has royalties and fees. Woof Gang’s fees are the most competitive in the industry and they make sure we can continue to support our franchisees and our brand so everyone can succeed.
Woof Gang Bakery & Grooming: Join Our Growing Pack
As the leading grooming franchise concept in North America, Woof Gang Bakery & Grooming offers a combination of grooming and retail that forms the foundation of some of the best economics in the pet franchise business. With an average investment cost of $218,000, you’ll join a high-demand business segment at a more accessible price point than many other pet services brands.
To learn more about our training and support and franchising opportunities in your area, request franchise information today.