There are so many different franchise opportunities available for military veterans these days. Hundreds. Maybe thousands. But, which franchise types are the right fit? Which franchise business sectors look good for veterans?
The Pet Industry
Look at these numbers, courtesy of the American Pet Products Association:
It's estimated that $60.59 billion will be spent on pets in the U.S this year.
Here's how the money breaks down:
- Food $23.04 billion
- Supplies/OTC Medicine $14.39 billion
- Vet Care $15.73 billion
- Live animal purchases $2.19 billion
- Pet Services: grooming & boarding $5.24 billion
Billions Of $$$$
That's a crazy amount of money. People love their pets. I know how much money I spent when @FranchiseDog was with us. (He crossed over the Rainbow Bridge 4 years ago.)
According to Franchise Direct:
Of the roughly 82.5 million homes with a pet, approximately 56.7 percent own a dog. The rest of the breakdown is as follows: cats (45.3 percent), freshwater fish (14.3), birds (6.9), small animals such as hamsters (6.9), reptiles (5.6), horses (2.8), and saltwater fish (1.8).
The pet services and products franchise sector is a popular one. Lots of people buy pet franchises each and every year. Veterans included. Should you look into pet franchise ownership?
Veteran Franchise Opportunities: Vets Working With Pets
There are several different types of pet franchises.
- Some are-or can be, one-person businesses
- Some require employees
- Some require a retail space
- Some don't
Tip: If you want a team around you, a franchise that has a retail space would be a good fit. Store-based franchises can also offer opportunities for owners to have some flexibility in their schedules. For example, once a reliable and high-quality manager is found, you can come into your business later in the day. You'll also be able to do local business development-which increases revenue, because you can leave the store!
A new report just came out on the pet franchise industry. If you're a veteran, and you've been thinking about becoming the owner of a franchise business this year, you should read the report.
Maybe a pet franchise would be a good fit for you.