According to Franchise Direct, a US-based franchise directory, one sector they recommend franchisees invest in is pet-related businesses.
We all love our furry friends and spend £240 and £100 per month on cats and dogs respectively. According to a study conducted by More Than, it is estimated that that pet ownership yields around £39 billion for the UK economy annually.
Franchise Direct identified a few businesses that might be seeing a boom as a direct result of covid-19 restrictions. As people are spending more and more time in their homes, they are now having conversations about pet ownership, their previous objection being the worry about leaving a dog at home all day. Therefore, pet boarding, dog training and pet supply stores are worth a look at if shopping around for a franchise to buy into.
The article also identified doggy day-care as a great investment opportunity, since people working from home can’t always be at the beck and call of their needy animals who think having their family at home means more chance for walkies.
If you don’t offer doggy day-care, but you do dog-walking, helping people out with their pets while they attend important Zoom calls will be a welcome service.
So, what does this mean for franchisors? If you’re a franchisor in the pet sector, you can use these observations as prompts for your marketing and advertising. You can even use it as an opportunity to branch out and go mobile.
For example, if you’re a dog groomer, then why not provide a mobile service for people needing to pamper their pooches? Now they are at home more, they don’t have to use up their weekends to visit the doggy salon, but maybe less inclined to drive out in the middle of the day when they need to work.
These are all examples of adapting your marketing and service offering to the current climate. Success is there for the taking if you’re willing to create new opportunities.
If your business is in the pet sector and you want to scale, then check out Franchise Foundations to get a taste of how Mercury can help you grow.