Many investors are currently betting on the booming pet industry. Check out the six reasons why you can’t go wrong with this growing industry.
Pets are replacing children in many millennial households, and people will continue to spend billions of dollars on their pets well into the future. This means that reliable, convenient, and trustworthy pet care service has never been more in demand.
In a recent article, Entrepreneur Magazine outlined six reasons why investors are betting on the pet industry. It’s recession-proof, predictable, and a consistently growing market. They also mention how the industry benefits from what is known as Kinderschema – essentially the science behind why we are hardwired to find kittens and puppies so adorable. Plus, the industry has great retail margins – upwards of 60-70%. But best of all there is no need to educate the customer at all. “Pet owners already know that health, training and the entertainment of their furry family members is important and are happy to give new products a shot in the hope that it will benefit their pets.”
Hounds Town’s dog town theme offers many avenues for tapping into a variety of revenue streams, from luxury boarding and interactive daycare, to grooming, retail, and cat care. “Pet owners already know that health, training and the entertainment of their furry family members is important and are happy to give new products a shot in the hope that it will benefit their pets.” This leaves pet care facilities like Hounds Town with a variety of options and services to offer, tapping into customers’ willingness to spend on their pets while simultaneously offering one stop shopping for convenience.