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.