3 Reasons Pet Franchises Are a Great Investment Any Time
Have you ever thought about becoming your own boss? The challenge is picking the right kind of business that won’t be affected by things like a global pandemic or recession. Over the past few years, industries that thought they were recession-proof found out the hard way that they could be adversely affected by recessions after all.
On the other hand, the pet industry is the closest you can get to guaranteeing that your business won’t be upended by global catastrophes or the whims of a national economy. In this article, you’ll discover three reasons why investing in a pet franchise is one of the safest bets you can make when choosing a franchise to invest in.
1. Pet care sales have increased during recessions
While there are some luxuries people may be willing to leave behind when times get tough, proper care for their pets isn’t one of them. Spending on pet care actually grew during U.S. recessions in 2001 and 2008 by 5 and 7%, respectively.
Good dog parents see their precious pups as members of the family. Therefore, they would no sooner neglect their care than ignore the needs of their human offspring. This kind of devotion means if you invest in a pet franchise, you’re choosing a very secure market.
2. Pets are more popular than ever
Did you know that 38% of households in the United States have a dog? And the numbers are rising each year! With a market that experiences such steady growth and an already devoted and sizeable foundation, it’s no wonder investing in a pet franchise is such a smart bet.
Pet adoption rates have skyrocketed during the pandemic as people seek out four-legged companions that provide comfort and joy. The pet industry has followed a consistent growth trajectory over the past 30 years as dogs are seen as family members more and more.
And there’s no end in sight. Some experts estimate the pet care industry could swell to $281 billion by 2023.
3. Pets always need care
While some markets ebb and flow depending on what Wall Street is doing, the pet industry isn’t one of them. It can’t be—the reason why is simple. Pets need care. They will always need food, vet checkups, bathing, and other routine care and basic grooming for their health and wellness.
Ask most dog parents, and they will say that their pups require regular care and grooming to keep them clean and healthy. It’s more than just a haircut. Dog parents want to educate themselves on what their precious companions need to stay healthy and thrive. That equals more opportunities for new pet franchise owners.
A business you can love
If you have been looking for a way to become your own boss and are a dog lover, consider investing in a pet franchise with Scenthound. You’ll begin with a stable business model with massive growth potential. And you’ll feel great knowing you’re helping dog parents provide the love and health-focused care their furry companions need. Find out more about Scenthound’s franchise process today.