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Why a Pet Industry Franchise May be Perfect for You Pet Supplies Plus and Wag N' Wash lead the pack with recession resistant franchise brands.
If you're new to franchising or a seasoned multi-unit owner, you have numerous options — more than 780,000 in fact. It can be overwhelming to narrow these options down.
To determine what candidates are most enthusiastic about, Pet Supplies Plus Group recommends that they research which franchise category will fit their financial goals and will strongly support them along the way. After investigating the different options, candidates will select a franchise concept that best suits all their needs.
Pet retail industry is growing and recession resilient.
There has never been a better time to invest in the pet industry. Morgan Stanley predicts an 8% compounded annual growth rate for the industry by 2030, which is one of the largest rates of return in any retail segment. Pet expenditures rose to $136 billion in 2022 and are forecasted to grow to $277 billion by 2030.
Regardless of the economic environment, pet parents will always spend money to adopt, feed, and pamper their fur, feathered, and even scaled babies. During times of economic downturns, pet expenditures have been shown to increase as families stay close to home and realize the happiness that pet ownership brings. Case in point – during the pandemic in 2020, families welcomed more than 11 million pets that will need to be fed and spoiled over the next decade.
It is not just pet ownership that is on the rise; the value of pets within the family has also risen. It was only two generations ago that most pets lived in the backyard. Today, they are not only in the house, but on their pet parents' beds wearing their own pajamas!
Pet Supplies Plus and Wag N' Wash lead the pack.
Pet Supplies Plus is the third largest pet retailer (next to only Pet Smart and PetCo) and the largest pet franchise concept in the country. While there are close to 700 combined locations, there is still plenty of availability to grow the footprints of both brands throughout the country.
Chris Rowland, CEO of Pet Supplies Plus, states, "For the last couple of years, we have been extremely busy, opening 80 to 100 stores a year, and that trend is continuing. In fact, it is increasing. We have owners who cannot wait to get to store four and five."
Wag N' Wash is an emerging franchise brand that is a grooming and self-serve dog wash provider, offering natural and premium consumables and hard goods primarily for dogs. Compared to Pet Supplies Plus stores, Wag N' Wash stores are smaller in size (about 2,500 sq. ft), require fewer employees and a smaller initial investment. Being an emerging brand, Wag N' Wash offers the opportunity to own multiple locations nationwide.
For those entrepreneurs who want to go "all-in," there is Pet Supplies Plus. Pet Supplies Plus offers a full line of pet consumables, supplements, and hard goods for a wide variety of pets. It also carries a wide variety of live animals – fish, lizards, reptiles, bird, Guinea pigs, hamsters, and even ferrets. While Pet Supplies Plus stores do not sell dogs or cats, most are extremely active with their location adoption centers, hosting frequent adoption events in their stores.
Whether it is with up-and-coming Wag N' Wash or established Pet Supplies Plus, franchise owners will be strongly supported from the day they sign their franchise agreement to the day of their Grand Opening. Nick Russo, Chief Development and Stores Officer, says, "Our owners benefit from our 30+ years of experience and knowledge and will receive best-in-class support that you can't always find at other franchises."
Pet Supplies Plus and Wag N' Wash brands are also proud to charge the lowest royalty fees in the pet retail category at only 2% to 3% with no hidden training or real estate fees. In addition to industry-low royalty fees, both Pet Supplies Plus and Wag N' Wash bring in strong average unit volumes (AUVs). In the most recent Franchise Disclosure Document, the brands reported an AUV of $2.7 million* for Pet Supplies Plus and an AUV of $1.4 million** for Wag N' Wash.
Multi-Unit Franchise Owner Brian Barrett sums it up best: "If you are looking to get into a franchise, I think Pet Supplies Plus is a really good opportunity. Corporate sets a great foundation; the culture is amazing. Getting to work in the stores with the neighbors, seeing their pets — it is a fun atmosphere, and it is also a great financial opportunity."
*This information can be found in Item 19 of the 2023 Franchise Disclosure Document issued by PSP Franchising, LLC. The data reflects the calendar year beginning January 1, 2022, and ending December 31, 2022, and shows the data for 320 reporting stores which were open and operating 12 months as of December 31, 2022. 42.8% of reporting stores achieved or surpassed this figure. A new franchisee's results may differ from the represented performance.
**This information can be found in Item 19 of the 2023 Franchise Disclosure Document issued by WNW Franchising, LLC. The data reflects the calendar year beginning January 1, 2022, and ending December 31, 2022, and shows the data for 10 reporting stores which were open and operating 12 months as of December 31, 2022. 60% of reporting stores achieved or surpassed this figure. The discounted initial franchise fee applies only to franchise agreements executed on or before September 30, 2023; no other discounts apply. A new franchisee's results may differ from the represented performance.