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Pet Franchises Pack Plenty of Bite

Pet businesses are no longer a fringe industry. It is estimated that American pet owners will spend nearly $47 billion on their animals this year.

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Pet businesses are no longer a fringe industry. It is estimated that American pet owners will spend nearly $47 billion on their animals this year. Consumers have consistently displayed a preference for proven brand names when it comes to investing in pet products and care—and a new report from Franchise Direct says the pet franchise industry will continue to prosper in the future.

Having published many reports on franchising, Franchise Direct, one of the world’s leading franchise portals, has great expertise when it comes to analyzing the franchise industry. Its latest pet franchising report examines the Franchise Disclosure Documents (FDDs) of 17 different pet franchises across seven subcategories. Pet franchises make up a diverse and growing industry.

Pet franchises are poised for future success because America’s love for pets continues to grow. A recent survey says that 62 percent of U.S. households own at least one pet. Today, there is a pet in 71.4 million American homes—an increase of over 20 million since 1998. Pet ownership is clearly increasing and franchising provides entrepreneurs with one of the best methods to profit from this trend.

The pet franchise report also breaks down America’s pet spending. Food continues to drive the pet economy, but as pets live longer owners are also spending more on vet care, supplies, over the counter medicine and grooming. Pet franchises have sprouted up to satisfy nearly every market niche in the industry.

Many people now view their pets as members of the family, as opposed to merely animals—a sentiment that drives the success of pet franchising. Pet owners have displayed a willingness to spend lavishly on expensive pet hotels, vet care and upscale pet items in order to assure their pet’s livelihood. Even as the economy stuttered, pet spending remained stable. As Franchise Direct’s pet franchise report outlines, pet franchises are robust, healthy and poised for greater success; they will most definitely stand to profit in the coming years.

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