Why you should consider a pet-related business.
When you envision what you want the next 10+ years of your life to be like, can you see making a difference in the lives of people and pets? Being a part of your local community? Personally, working hard and calling the shots as the owner of your own business?
The pet industry has historically reliable growth and recently, even more expansive growth. It’s expected to top $70 billion gross sales next year, and you can be a part of it!
Here are a few reasons why you should consider a pet industry business.
1. Americans spend a lot of time and money to care for their animal family members. According to the 2016-2017 APPA (American Pet Products Association) National Pet Owners Survey, 68 percent of U.S. households own a pet, which equates to 82.5 million homes.
2. Of the roughly 82.5 million homes with a pet, approximately 56.7 percent own a dog. The rest of the breakdown is as follows: cats (45.3 percent), fish (16.1), birds (6.9), small animals (6.9), reptiles (5.6), and horses (2.8).
3. The amount of total pet expenditures in the U.S. has steadily increased every year for the past 20 years, even in times of economic downturn, according to APPA. Estimated expenditures for 2016 are expected to top $60 billion.
4. In 2015, over $59 billion was spent on pets in the U.S. Nutrition was the number one category for spending ($20.64 billion), followed by hard goods/supplies/OTC medicine ($12.65 billion), vet care ($13.67 billion), pet services: grooming & boarding ($4.16 billion), and live animal purchases ($2.21 billion).
5. For those who like the positive outlook on the pet industry's future and want to own a pet-related business, there are many options to consider. Choices range from traditional pet and pet supply retail stores, to specialized boarding facilities, to professional grooming, even waste disposal.
6. According to the US Census Bureau, the average establishment in the pet industry is truly a small, locally owned business entity (including individual franchise locations). The bureau also forecasts pet industry job growth to mirror or be faster than overall national trends through 2020.