People love animals– whether that’s cats, dogs, birds, fish—you name it. According to the World Animal Foundation, folks love animals so much that they spend about $123.6 billion annually on their pets. Part of that spending involves pet food—including gourmet treats, premium diets, specialized needs, or bird food for backyard feeders. With this increasing love and spending for animals, the question arises: Is diving into a pet food franchise a good idea?
A Financial Look at The Pet Food Industry
The pet food industry is booming. Based on figures from Grand View Research, the global pet food market size was valued at $99.1 billion in 2022 and is anticipated to exhibit a compound annual growth rate (CAGR) of 4.3% from now until 2030. These numbers are evidence that folks are spending money to ensure that their pets are eating well. For potential pet food business owners, the increased consumer demand equates to promising financial growth in the industry and profit potential for your franchise.
Choosing a Franchise Brand
If owning a pet food franchise is something you’re interested in, here are a few ideas to consider when searching for just the right brand.
• Reputation matters: Like all franchises, not all pet food brands are created equal. Look for those with a strong reputation, great reviews, and a loyal customer base. A trusted brand name can make a world of difference and generate revenue.
• Training and support: Research the training, guidance, and ongoing support offered by the franchise. This is crucial, especially if you’re new to franchise ownership. Often there’s no previous experience needed to own a franchise because of the training you’ll receive, so make sure it’s comprehensive, fully preparing you for ownership.
• Product offerings: Animals have diverse needs like allergies, dietary restrictions, and specific health issues which means that a wide range of products is key. Choose a franchise that specializes in niche products or offers a broad spectrum of foods, treats and supplements.
Pros and Cons of Ownership
There are many pet food franchise opportunities in the market, so consider the pros and cons of owning one.
Pros:
1. Recession-resistant: Even when the economy takes a dip, most pet owners won’t compromise on the quality of their pet food. So, you’ve got a bit of a safety net with this type of franchise.
2. Passion meets profession: If you’re an animal lover, this is a chance to merge your passion with your paycheck. Every day, you’ll be helping fellow animal lovers make the best food choices. Not many people get to say they make a living doing something they genuinely care about.
Cons:
1. Competition: The success of the pet food industry means it’s also a crowded market. From big supermarket chains to small, independent organic producers, you’ll find competition on every corner. The best way to stand out among the competition is to have unique offerings or create a niche in the market.
2. Must be Knowledgeable: With the rise of various diets, health concerns, and changing pet food trends, it’s not just about selling food. You need to be well-informed about various dietary needs, nutritional benefits, and trends. Being knowledgeable is a must, which means a lot of ongoing learning and staying updated.
Wild Birds Unlimited Checks All the Boxes
We have been a leading retail franchise in the wild bird feeding industry for more than 40 years. We carved out a successful niche by bringing people and nature together and we continue to experience growth with more than 350 locations throughout North America.
We carry the highest quality products and bird feed, but we take that to the next level as our franchise owners and their teams offer guidance and advice to customers about proper feed for specific birds during certain seasons. Our franchisees say that interacting with customers is one of the most rewarding aspects of owning a Wild Birds Unlimited store. The combination of knowledgeable service and high-quality products builds our customer loyalty and brand trust.
If you’d like to learn more about joining our flock, inquire today. We’d love to help you realize your dream of owning a franchise in a high demand industry, doing something that brings you joy.