What makes the longest-running franchises so successful?
What makes a franchise successful, and how can you grow...
It is estimated that 56% [1] of Canadian households have at least one pet, and they spend around $2,500 [2] per pet per year to keep their animal in the best possible health. This means that despite the well-documented rising cost of living, a pet franchise appears to be a reasonably safe bet for prospective business people wishing to enter the industry.
Other than the potential for profitability, there are many other reasons joining a pet franchise might be the right move for you.
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You can work with animals
If you are an animal lover, joining a pet franchise will allow you to enjoy your passion and get paid for it. It is also said that working with animals is good for your physical and mental health, so there are many benefits to this type of work.
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There is plenty of variety
There are plenty of opportunities in the pet franchise sector, from dog walking and boarding to grooming and selling pet food. With so many choices, you are sure to find the pet franchise that appeals to you.
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It's in demand
Pet ownership in Canada is on the rise, with many people recognizing the benefits that pets bring to their lives in terms of companionship, fitness and wellbeing. This means there should be demand for your services for the foreseeable future, making the decision to join a pet franchise a reasonably safe bet.
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It is affordable
Pet franchises have some of the lowest franchising fees on the market, which makes them an attractive starting point for those wishing to become their own boss. Despite the low joining fees, the profit margins offer the potential to make a very good living. For individuals with a low risk appetite, pet franchises should certainly feature in their list of prospective business sectors.
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It presents opportunities for personal and professional development
The pet business is not stagnant and pet franchises offer the opportunity to stay abreast of current and upcoming trends, allowing their franchisees to continually develop and hone their skills, knowledge and experience. This helps them offer a service that is desired by their community of pet owners.
If you are an animal lover who is looking for a new business opportunity, pet franchises offer a raft of benefits and are certainly a sector you should consider joining.
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Resources:
[1] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2603652/#:~:text=A%20total%20of%2056%25%20of,of%20other%20types%20of%20pets.
[2] https://madeinca.ca/pet-spending-canada-statistics/#:~:text=In%202018%2C%20Canadians%20spent%20%242%2C075,of%2017.1%25%20in%20three%20years.
