Here’s a photo of my husband with our two rescue dogs. They are like members of our family - we love them dearly. We are not alone - the pet industry has hit a 35 year high according to Forbes.
Did you know that the Pet Services industry is BOOMING? With over $137 BILLION IN REVENUE generated annually, it's an incredibly LUCRATIVE market to tap into.
Millennials lead the pack as the largest percentage of current pet owners, making up 33%, followed closely by Gen X (25%) and baby boomers (24%). In 2022 alone, pet expenditures jumped an impressive 11% from the previous year.
What's more, essential dog expenses tally up to an AVERAGE OF $1,533 annually. This shows how easily pet owners pull out their wallets to ensure their furry friends’ well-being.
The pet industry has experienced EXPONENTIAL GROWTH over the years. Employment SOARED by over 90% from 2005 through 2015. From $48 billion in 2010 to a WHOPPING $110 BILLION during the pandemic, the industry's upward trajectory is undeniable.
Why the remarkable REVENUE POTENTIAL? Well, with pets increasingly considered part of the family, pet owners are INVESTING more in their furry companions' well-being. Plus, as busy lifestyles become the norm, the demand for convenient, reliable pet services continues to skyrocket.
So, whether you're an aspiring ENTREPRENEUR looking to tap into a booming market or an INVESTOR seeking LUCRATIVE opportunities, the pet services industry offers a paw-some path to success!
Download and read our #FranchiseAlert about Pet Services.