Glenn Polyn//December 20, 2022//
Glenn Polyn //December 20, 2022//
Press release: Pet Supplies Plus
Pet Supplies Plus, the largest independent pet franchise in North America with over 640 stores in 41 states, and Wag N’ Wash, the emerging self-wash, grooming and natural pet food franchise, have collectively signed 115-plus franchise agreements year to date.
The secured franchise commitments for Pet Supplies Plus include a 50/50 mix of existing owners who realize the recession-resilient value of this franchise and brand-new franchisees who are attracted by the simplified retail model and consistent growth. The companies also welcomed the first dual-branded multi-unit agreement, which will be for two Pet Supplies Plus stores and one Wag N’ Wash location.
“As pet spending continues to rise, franchise candidates are seeking to invest with our strong growth brands featuring the lowest royalty fees within the pet industry, a transparent Item 19 and best-in-class corporate support,” said Chris Rowland, CEO of Pet Supplies Plus and Wag N’ Wash. “We have a unique offering of two distinguished brands and investors are taking note of the benefits both bring to an expanding portfolio.”
Lenders are also adamant on financial transparency. Pet Supplies Plus earned a 900 FUND score through FRANdata, placing it in the top five of all franchise concepts analyzed. The FUND score is a proprietary scoring model, with a possible 950 points associated, to evaluate 13 credit risk and performance categories of a franchise brand that influence unit level performance. It uses lender-defined credit risk categories with associated methodologies and algorithms to analyze franchise systems.
While separate entities, the two franchises share the same proven infrastructure of back-end support including billion-dollar buying power, advanced marketing initiatives and supply-chain efficiencies. In addition, franchise owners not only benefit from being a part of the ever-growing pet retail industry with $120+ billion in sales in 2022 alone but also from interacting with their neighbors and their pets to deliver the best high-touch, local pet service and retail experience.
“From our full-service, legacy brand to our up-and-coming dog wash and grooming franchise, we offer simplified business models to grow alongside the rapidly growing service category,” added Rowland. “We have the lowest royalty fees in the pet franchise industry, impressive AUVs, and provide those who seek to join the growing pet category with experienced retail and pet service franchisors who stay committed to quality services and products for pets to position us for strong growth for years to come.”