Month: July 2020

Why the Pet Care Industry is Remaining Strong During a Pandemic

The COVID-19 pandemic has hit many retailers hard, but not all companies are struggling right now. In fact, some sectors are thriving. If you’re wondering about the status of the pet industry today, you should know that it’s booming, and here’s why.

1. Recessions Don’t Affect Pets

Cats, dogs, snakes, and turtles have no idea what’s going on in the world. They don’t know that there’s an economic downturn. But seriously, the pet industry is resistant to economic strife.

According to Market Watch, about 85 million American families own pets. They also spend money on their pets. In fact, families spend 7 percent more on their pets every year than they did the year before.

Spending on veterinary care has also increased three times faster than the U.S. gross domestic product. Pet industry spending increased by 29 percent and 17 percent, respectively, during the last two recessions.

2. People Have More Time

In May, approximately 33 percent of Americans were working from home. That means that they have more time to care for pets. They might want companionship during their long hours in the house, and a pet is the perfect work buddy.

Even though many people know that they’ll eventually have to go back to the office, they’re biting the bullet and getting a new pet. While they’re home, they’ll have time to provide house and obedience training. Once they return to work, they can put their pets in doggy daycare, if necessary.

3. Pets Make You Feel Better

If you’ve ever spent time with a pet, you know that they’re comforting. When you interact with your furry friends, your stress levels and blood pressure go down. Some studies show that hanging out with a pet can reduce loneliness and put you in a better mood. It can even make you feel socially supported, which is essential during this time of social and physical distancing.

Don’t believe us? Take a look at this article from Entrepreneur explaining why a pandemic hasn’t harmed the pet industry:

4 Reasons the Pandemic Is a Boon for the Pet Industry

4. Pets Give You Something to Do

Bored? If you’ve gone through your list of new hobbies to learn, you might be looking for something to do. A pet will keep you busy. Whether you need to walk the dog, create a new cozy living space for your animal, or clean the litter box, you’ll have plenty of tasks to occupy you.

Plus, pets are entertaining. Watch your cats or pups play when you have nothing else to do. Give Fido and Fluffy a snuggle while you’re watching Netflix.

People are worried that they’ll go stir crazy in their homes during the pandemic. The pet industry is seeing the results of that concern as more Americans bring fluffy companions home.

5. Pets Need Stuff

Pets require food, accessories, toys, shelter, and more. The pet industry is here to supply consumers with all of those care items. Veterinary care will always be necessary as long as people have pets. COVID-19 isn’t changing the care that your animal needs.

More people are shopping online for all of their household items, including pet products. The online pet industry is flourishing. So are daycare and grooming services.

In 2019, consumers spent $95 billion on their pets. More than 10 percent of that was on training, grooming, and boarding.

People treat pets like children, and they want them to have the best. Millennials, GenXers, and Baby Boomers love to spoil their pets, splurging on luxury items and boarding facilities where they know that their animal will get plenty of loving attention.

6. Pets (and the Pet Care Industry) Continue to be an Excellent Investment

An impressive track record shows that the pet industry is financially and emotionally rewarding. During these uncertain times, people are struggling with their finances and mental health. If you’re looking for an investment or are interested in working with pets, this is definitely a resilient career path.

As social distancing continues, it’s unlikely that people will stop opening their wallets to take care of their furry friends. And, at K9 Resorts, we don’t plan on going anywhere anytime soon.

Pet Industry Statistics: Why Invest?

Now more than ever, pets are a part of our families. Pet owners will invest more time and money in their pets than ever before, especially if it means keeping their furry friends happy and healthy while they can’t be together. That’s just one of many reasons that the pet industry is continuing to see massive growth, and experts expect it to continue.

What’s Making the Pet Industry Grow

In 2016, researchers estimated that the pet care market was worth about $131 billion, and we expect that to grow to over $200 billion by 2025, according to a 2018 study of pet industry statistics by Grand View Marketing Inc. One of the fastest-growing areas of the pet industry is boarding and grooming.

Millennial dog owners are the primary reason for boarding and grooming industry growth. These owners are more willing to give up their luxuries to ensure their pets are taken care of during hard times. They are also more willing to spend money on technological advances associated with pet care and send their dogs to doggy daycare while at work.

Boarding and Grooming Services

Nearly 65% of US households have pets, and 72% of millennials own at least one pet according to pet industry statistics. That means there is an incredibly large number of families in need of pet services like boarding and grooming at least occasionally. With the growing humanization of pets, more and more people are looking into doggy daycares and cage-free boarding services.

Advances in technology create an environment where boarding and grooming services are more accessible to pet owners who would not previously have been able to afford them. Because of the surge of accessibility, more boarding and grooming services are necessary. If you’re a pet lover looking for an opportunity to jump into a booming industry, that’s exciting news.

It’s not just millennials who treat their pets like family and send them to doggy daycare or high-end boarding facilities when they vacation, though. Gen Xers and Baby Boomers are also spending more on pets. Baby Boomers tend to spend less on everything but their pets, according to recent statistics, because they are replacing their grown children with dogs.

In 2019 alone, US pet owners spent more than $95 Billion on their pets, with $10.3 Billion going to services like boarding, grooming, and training. The amount we spend on our pets in the US has increased each year for at least the last five years, and we don’t expect it to slow down anytime soon.

Opening a business in the pet industry is a great call, but is it better to franchise or open an independent business? Learn more here!

The K9 Resorts Difference

With pet industry statistics indicating that boarding and daycare services are experiencing record high revenue every year for the past five years, and with more research proving that dogs have a positive impact on our lives, it’s an excellent time to look into franchise opportunities in the pet industry.

We set K9 Resorts apart from the rest by utilizing our love for dogs and organization to offer the most hygienic, luxurious, and personalized services in the industry. K9 Resorts offers industry-leading franchisee support that includes training, real estate selection assistance, elite business systems, and more.

The financials and marketing for K9 Resorts are all straightforward to help new franchisees feel confident in their business plan. We use the latest technology to attract millennial customers and beyond. We’re able to work with our franchise owners to ensure that their inventory is minimal so that they can focus on customers and keep a clean and luxurious atmosphere.

Our results are proven over our 15 years in business. We keep processes simple while building on new technologies and state of the art training and hiring processes. With $95 Billion spent on pets in the US every year, we know how to drive success in a booming industry.

Pet owners explicitly say that they are willing to spend money on their pets even when they have to cut back on their expenses, which earns our excellent industry stability. Think investing in a K9 Resorts franchise is the right move for you? We’d love to talk to you about it. Contact us for additional information about franchising opportunities in your area.