Pets are the cornerstone of many people’s lives – which is great news for anyone looking to start a pet-based business! With the pet industry booming right now, there are numerous opportunities to capitalize on the growing demand for pet services. Whether you have always wanted to open your own dog grooming salon, cat cafe, or pet daycare center, now is a great time to take the leap and launch your very own pet business. Today, Frisky in Philly shares why now is the best time to start a pet care-based business.
Consumer Sentiment Is High
One of the reasons now is the best time to start a pet care-based business is because consumer sentiment is high. In 2021, the American Pet Products Association found that pet ownership in the United States increased from 63% to 68%. This increase in ownership has led to more people using services such as vet appointments and grooming services for their pets.
For example, when it comes to grooming services, Americans are spending $7 billion on their pets annually. This includes both professional grooming and do-it-yourself trimming and shaving kits. With this type of spending, it’s no wonder why now is a great time to get into the pet care industry! If you’re looking for an investment opportunity, this may be a good time for you. With these figures increasing year after year, there will be plenty of opportunities for growth in this booming industry.
Pets Are Becoming More Sophisticated
Many people are spending more money on high-end pet services such as grooming, boarding, and training. This is because many pets today have a more sophisticated lifestyle. There is also a growing trend in “pet weddings” and other humanistic-like services for pets.
There Is a Growing Demand for Pet Services
What could be better than starting a pet care business? Starting a pet care business that is also in high demand. Right now, there are lots of people who want to get their pets groomed, take them to the vet, find them a daycare or boarding facility, and so on. You can capitalize on this need by opening your own establishment and offering these services to local customers.
This year alone, the pet industry is estimated to be worth $72 billion. This number is projected to increase by 3-5% every year. That means there are lots of potential customers out there who would love to patronize your new business. The best part? You don’t have to spend money on advertising because word-of-mouth will quickly spread about your new shop. As you can see, now is a great time for someone with the entrepreneurial spirit and passion for pets to start their own business!
The Supply of Pet Care Services Is Low
There are a lot of people who want to own pets but not enough open caretakers. The ACS found that 25% of households have a pet but no one at home to provide care for them. This is because many people work long hours, are often single, or live in an urban area where it
Resources to Help You Start a Pet Care Business
There are many resources available to help you get started. The U.S. Small Business Association offers a variety of resources on starting and running a small business, including information on financing your business, hiring employees, contracts and agreements and so much more.
You can also tap the services of a qualified formation service. They can take care of everything from setting you up in the right business structure, such as an LLC or corporation, to setting up a ‘doing business as’ or DBA name for your business should you wish to operate under a separate brand. This way, your business hits the ground running, with all the paperwork and legalities taken care of.
If you’re an animal lover, now is the perfect time to get involved in the pet care industry! All it takes is a little planning and dedication, combined with a deep appreciation for the place that animals have in our lives, and success is right around the corner!
Frisky in Philly celebrates the pet lovers In the City Of Brotherly Love. If you have a question or suggestion, let us know!
Image via Pexels