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- 2022 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$106K - $275K
- Units as of 2021
20 11.1% over 3 years
Here’s what you need to know if you’re interested in opening a Preppy Pet franchise.
With well over 50% of American households owning one or more pets, pet services may be in constant demand. Preppy Pet was founded in 2003 and began franchising in 2006. Since then, Preppy Pet has opened several locations in select states across the United States.
The founders of Preppy Pet felt they could offer pet services at affordable prices. They wanted to make their stores a place where four-legged friends were eager to return.
Preppy Pet offers boarding, grooming, daycare, and training services. Preppy Pet’s goal is to help franchisees keep customer prices at a fair rate, hopefully allowing them to gain repeat customers.
Why You May Want to Start a Preppy Pet Franchise
The ideal Preppy Pet franchisee loves animals, especially dogs. Franchisees may need to demonstrate excellent leadership skills, as they will need to hire employees. They may also need some sales and marketing experience since most franchisees manage these aspects independently. Additional skills that may help a franchisee include good time management, organizational skills, and the ability to create a bond with each client and their pet.
Franchisees do not need experience in the pet care industry, but they are expected to be involved in the day-to-day operation of the franchise. This is not a franchise that you can run remotely, or as a side gig; you’re expected to be all in.
What Might Make a Preppy Pet Franchise a Good Choice?
Preppy Pet knows that no two animals are the same, so care may be uniquely provided to each pet that visits a Preppy Pet location. Clients are allowed to take part in a Smell and Tell Tour, which may allow the client and their pets to come and see the facilities and decide if it is right for them. Preppy Pet offers pets a suite to match the size of the pet or pet family. These suites can be customized to meet the pet’s individual needs.
To be part of the Preppy Pet team, you should make sure you’re financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty and potential renewal fees. Franchisees will also need to meet the company’s set net worth and liquid capital requirements.
How to Open a Preppy Pet Franchise in Your Neighborhood
Before signing any agreements with Preppy Pet, potential franchisees need to do their own research. This research should include possible locations, a list of employees they may need to hire, information and statistics of target customers for competing franchises, and more. Franchisees should also write down any questions they may have for the Preppy Pet franchising team.
Preppy Pet franchisees will receive multiple hours of classroom training and several dozen hours of on-the-job training. This training will allow franchisees to learn about company culture, Preppy Pet operations, and ask any remaining questions about what it takes to operate a Preppy Pet location.
It may be a good idea to speak with an attorney or financial advisor to ensure that you have the necessary financial resources to own and operate a Preppy Pet franchise.
About Preppy Pet
- Franchising Since
- 2006 (16 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, West Virginia, Wyoming
- # of Units
- 20 (as of 2021)
- Corporate Address
57 W. Michigan St.
Orlando, FL 32806
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Preppy Pet franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
- $19,900 - $34,500
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $105,950 - $275,000
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Net Worth Requirement
- $50,000 - $100,000
Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company
What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.
- Cash Requirement
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Term of Agreement
- 15 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Preppy Pet has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 34 hours
- Classroom Training
- 18 hours
- Ongoing Support
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresLease NegotiationField OperationsSite Selection
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- # of employees required to run
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Are you eager to see what else is out there? Browse more franchises that are similar to Preppy Pet.
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