In what has been a volatile United States economy over the last decade, there has been one sector serving as a solid backbone for the country—the pet industry. Driven by people who see pets as family members and strive to improve their lives on a daily basis, the industry has accounted for a whopping $66 billion in consumer spending since the conclusion of 2016, putting an exclamation point on the segment’s 23rd winning year in a row.
Pet Supplies Plus is catering to the rising number of “pet parents”—which has reached 84.6 million homes, equating to 68 percent of the U.S. population.
Following a 2016 that was highlighted by 75 new franchise agreements and expansion into five new states, Pet Supplies Plus has opened 22 stores through the first two quarters of 2017. Of those, 15 were individually owned and operated locations, including the company’s milestone 400th location in Coconut Creek, Florida.
The company is expected to continue the growth trend, exceeding 40 new stores again by the end of the year with multi-unit and multi-concept franchise owners.
“It has been our goal since our inception nearly 30 years ago to provide the best, most convenient service to pet parents across the United States and the positive influence of our service is clearly evident in communities all over the nation,” said David Leonardo, Pet Supplies Plus senior vice president for Franchising. “We have hit company milestones in the past year and our outlook for the future is very strong. We are excited to break into new cities and states in the back half of the year to serve our neighbors with the top-notch products they deserve.”
Pet Supplies Plus is focused on expansion in neighborhoods all over the country, seeking qualified franchise partners to develop its presence in South Florida, Metro Atlanta, New England, and western states such as Arizona, California Oregon and Washington.
Most recently, the pet retail store closed multi-unit deals in New York City, Houston and Raleigh with a multi-concept franchise owner.
“There are still plenty of areas in the country that are underserved and in need of a friendly neighborhood pet store for the furry members of the family,” Leonardo said. “Our business model works and it sets up our franchisees for success, especially when operating in our recession-resistant industry. In addition it’s important to note that our business is ideal for franchisees who are looking to diversify their portfolios. We’ve got several multi-concept owners in our system, most recently signing a tremendous franchisee in Raleigh with a background in fast casual food franchising.”
In 2015, Pet Supplies Plus announced a reduction of royalty fees from 4 percent to 2 percent for the first year of a new franchise agreement and only a 3 percent fee thereafter. The reduction opens the franchise opportunity to a broader range of candidates and helps qualified candidates open stores at a faster rate. Pet Supplies Plus has also attracted franchisee candidates from different industries, including QSR food brands and grocers seeking to expand their portfolios into the pet retail space.