The pet care industry is a lucrative one, creating a plethora of opportunities for people to start different types of businesses.
According to Bob Vetere, President and CEO of the American Pet Products Association (APPA), spending on pet care was more than $72.5 billion during 2018, up four percent from the previous year.
Food purchases represent the biggest spend at over $30bn, with medications, veterinary care, live animal purchases and other services making up the rest of the total.
“Millennials continue to be the largest pet-owning demographic and this shows in the data,” Vetere told APPA’s website. “We know this generation is willing to pay more for quality products and services to improve the health and well-being of their pets.
“Today more than ever, pet owners view their pets as irreplaceable members of their families and lives, and it’s thanks to this that we continue to see such incredible growth within the pet care community.
“Scientific research from the Human Animal Bond Research Institute (HABRI) shows that the bond formed between people and their pets yields valid health benefits to both pets and their owners.
“It’s a partnership; if you take care of your pets’ health, they’re going to take care of yours.”
With the positivity surrounding pet care many people have sought to capatalise by starting their own company. Read on as we look at some of the best business ideas for pet lovers.
Dog health and wellbeing matters
Awareness of health and wellbeing amongst humans has grown massively in recent years and that is having a knock-on effect in the pet care industry.
Meat is an essential part of most pets’ daily food intake, but many people neglect the importance of fruit and vegetables to create a balanced and nutritious diet.
Chanda Leary-Coutu, director of consumer experience at Massachusetts-based WellPet, says it is important that pet food businesses focus on offering balanced products.
“We want to give pet parents recipes with the protein their dog or cat craves, but balanced with the fruit- and vegetable-based nutrients they need to support total body health, nose to tail,” he said.
“Dogs rely on a meat-first diet, but the inclusion of antioxidants from fruit and vegetables creates a complete and balanced meal.”
For people considering opening a specialist pet food business it is vital to gain an understanding of what represents a balanced diet for pets.
However, with many manufacturers still failing to meet the needs of owners, the specialist pet food industry offers an excellent opportunity for budding entrepreneurs.
CBD for pets is a growing phenomenon
Research has shown that cannabidiol (CBD) can provide positive outcomes for people who suffer from a wide range of medical conditions.
Recent clinical studies conducted at different veterinary colleges have now shown that CBD products could also have benefits for your pets.
American teenagers Riley Abels and Cameron Conrad have seized upon the opportunity, developing a line of CBD products for dogs including oils and organic treats.
“You can use them to resolve pain and reduce workplace anxiety, or anxiety in general,” said Abels. “You could even use the drops to counteract addiction.
“The treats could be given to your pet as a reward, or when they seem stressed,” Conrad added. “When the recent earthquake hit, I had given my dog a CBD treat.”
From a financial perspective the CBD industry has excellent potential for pet lovers who would like to start a business.
The market has grown rapidly in recent years and analysts have suggested it could have annual revenues of around $22 billion within the next few years.
The bulk of that figure will be made up by adult-focused products, highlighting the potential opening for someone to make a financial killing by developing CBD items for pets.
Popularity of pet daycare is on the rise
Many owners are reluctant to leave their pets home alone during the day, sparking a huge increase in the popularity of daycare facilities.
One of North America’s fastest growing pet franchises, Dogtopia, recently opened its 100th dog daycare centre and has plans to open another 250.
Neil Gill, President and CEO of Dogtopia, says his company is eager to continue building its empire over the next few years.
“When reflecting on Dogtopia’s impressive growth over the past couple of years and how far we’ve come, it’s a major milestone for us to reach 100 open daycares in such a brief time,” he said.
“I am beyond proud to be part of a company that is so passionate, loyal and committed to improving the lives of dogs and pet parents in local communities throughout North America.”
“As we grow Dogtopia across North America, there remains a lot of opportunities in many major markets – but that opportunity won’t last forever.
“Now is the time to join an experienced and dedicated team that surrounds you with support. At Dogtopia, you’ll be in business for yourself but not by yourself, and that is the real key to success.”
Pet grooming still booming
Pet grooming is one of the more traditional types of business ideas, but it still remains a lucrative industry to work in if you find the right area.
Pets need plenty of TLC to keep them looking at their best and many owners lack the skills required to do the job properly.
Sara Robinson opened her pet grooming service, Shear Furfection, in British Columbia during 2019 and she believes her passion for animals will help her make a big success of the business.
“I’m just happy to be doing what I love,” she told infotel.ca. “I don’t even feel like I’m working. This feels like a hobby.
“I heard of this dog grooming school in Surrey and they do this three-month program that teaches grooming. I figured, I’m going to look into that.
“Working with dogs – it’s not for everybody. It requires a lot of patience. Most of the time animals have been abused by a previous groomer or they have had bad experiences or they just don’t like being away from mom or dad.
“The important thing about grooming is once they are your clients it’s all about getting into a routine.”