Morgan Stanley reports there are five million more pets in the U.S. than there were in 2019 and predicts an 8% compound annual growth rate in the pet industry by 2030, which is one of the largest rates of return in any retail segment. According to the latest research by the World Animal Foundation, 86.9 Million US Households own a pet, which accounts for 66% of homes needing pet products and services. If you’ve been considering investing in a pet care franchise, a great place to begin your research is FBR’s list of award-winning pet franchises.
“Americans are increasingly attached to their pets, which is clearly shown in survey results, and thus pet spending is a priority,” says Simeon Gutman, an equity analyst at Morgan Stanley. “Consumers are less willing to cut pet spending even when real personal disposable income declines. On the whole, the pet category remains an attractive investment across both food and products, as well as vets, insurance, and other services, making an investment in the pet sector relatively low-risk.”
Grand View Research estimates that the global market size of pet care services was valued at USD 23.0 billion in 2021 and reports that it is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2022 to 2030. The company cites the increasing population of companion animals as well as a steadily growing culture of pet humanization as key drivers influencing increased expenditure on pets today.
Comparing Top-Rated Pet Franchises
Our list of top-rated pet franchises offers a variety of business models with products and services ranging from doggie daycare, pet walking, and dog training to large-format pet supply retailers. If you’re considering investing in a pet care franchise, these award-winning brands offer promising franchise opportunities.
Dogtopia is a dog daycare business that creates “indoor dog parks” and provides a daytime service for dog care along the lines of a children’s daycare. The idea of doggie daycare has gained widespread popularity, and Dogtopia is one of the fastest-growing pet franchises and the leading doggie daycare franchise in North America.
Investment: $543,193 – $1,489,801
Cash Required: $300,000
Hounds Town USA is a fully interactive doggie daycare, overnight dog boarding, and pet spa franchise that offers customers exceptional, worry-free, and reliable pet care. The initial financial investment is significantly lower than other pet care franchise opportunities, which allows franchisees to break even sooner and enjoy larger profit margins.
Investment: $358,900 – $77,000
Cash Required: $200,000
K9 Resorts is a highly regarded and internationally recognized pet care franchise brand. The company has been rated the top pet care franchise in the nation by the International Boarding and Pet Services Association. K9 Resorts’ franchise business model is built on precision, ensuring client satisfaction at every visit. The company provides thorough training, mentoring, and marketing support.
Investment: $998,748 – $1,891,990
Net Worth Required: $1,000,000
Pet Supplies Plus carries a wide variety of natural and non-natural pet foods. The company offers full-service grooming that includes bathing, skin, and coat treatments. Enjoy working in a rewarding field working with pets and their owners daily. Franchise owners enjoy a profitable business and the emotional benefits of best-friending their community and neighbors.
Investment: $358,900 – $77,000
Cash Required: $600,000
Ready to dig deeper into researching pet franchises? Go to our Top-Rated Pet Franchises List