10 Fun Facts About The Pet Care Industry
How many times have you heard someone worry about finding the right caretaker for their precious pup while they were away, or a good trainer to have their new family member walking on a leash and sitting or staying on command? Perhaps you’ve even run into these issues yourself as a pet owner. No matter what the need may be, the pet care industry has a solution — and for many pet parents, it’s Camp Bow Wow! We’ve been fortunate enough to be a part of the ever-growing pet care industry for nearly 20 years and counting.
Fact #1: The American Pet Products Association estimates that pet parents across the nation will spent a total of $69.36 billion dollars on pet care products and services in 2017.
Fact #2: The average annual growth rate for the pet care industry overall has been 5.4% year-over-year, and revenue has been growing steadily for more than 20 years and counting — as per the APPA.
Fact #3: According to the most recent APPA National Pet Owners Survey, 68% of U.S. households own a pet, which equates to 84.6 million homes in total — and 60.2 million of those homes have dogs specifically!
Fact #4: Pets can be found in households of all economic levels, but statistics show that high-income households account for about 60% of the total spending industry-wide.
Fact #5: To further break down those spending statistics, studies have shown that baby boomers between the ages of 55-64 and young millennials are spending the most money on their pets. Why? An empty nest and a disposable income of course!
Fact #6: Market research firm, Mintel, reports that over 60% of pet owners consider their pups to be additional members of the family.
Fact #7: …That being said, there are roughly 89.7 million romping, barking, tail-wagging, furry family members across the country!
Fact #8: More and more pet owners are recognizing the health benefits of adding four-legged friends to the family. In fact, a preliminary study by the Human Animal Bond Research Initiative Foundation(HABRI) estimated that there have been $11.7 billion in savings within the nation’s healthcare system as a result of pet ownership being on the rise.
Fact #9: Market research firm, Packaged Facts, determined that pet owners are more likely to use digital devices and technologies than non-pet owners, and 41% of pet parents look to the internet for information on pet care services. (Or to the webcams in our Camps to check-in on Fido!)
Fact #10: According to the Bureau of Labor Statistics, the industry is expected to see above-average job growth in the coming years — up to 11% growth between 2014 and 2024 to be exact!
As you can see, the pet care industry is booming, and Camp Bow Wow is leveraging that steady upward climb. We experienced consecutive year-over-year same-Camp sales growth, even through the recession, which shows that pet parents will keep spending even through lean times.
If you’re looking to be a part of a low-risk, high-growth industry, with high rates of repeat customers and a proven business model, we think it’s time you joined the Pack!
To receive your complimentary executive summary and learn more about franchise opportunities, fill out the form below or call us at (870) 600-2713. We’re looking forward to having you join the Camp Bow Wow family!