Monthly Archives: January 2016

Thinking of Joining the Pet Industry?

By: Jaime Hall

Here’s Why You Should…

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Starting a business in niche markets can seem risky and intimidating, but this is one industry that is available for saturation. A lot of interest and finances are being funneled into the pet industry lately, making it an increasingly accessible market to join. Here are the top reasons why:

1) It can withstand a recession

While most industries risk going out of business during times of economic downfall, the pet industry is one that seems to resist this negative impact and continues to maintain its profitability.

Young businessman with hands on back of his head worried because of business failure

2) Profits are predictable

One of the riskiest red flags of joining a niche market is the risk of one-time-only or seasonal customers. Luckily, the pet industry is one that attracts repeat customers again and again while also maintaining year-long demand. This predictable demand decreases logistic and economic risk and allows for streamlined sales forecasting.

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3) It has a growing customer base

The pet industry includes not just pet food, toys, and other tangible products but also pet services, both of which have experienced growth in demand in recent years. There has also been a steady rise in the number of pet owners in the US, which is currently tallied at 65% of all US households. This means there are not only more pets that need food, grooming, daycare, etc. but owners are also spending more money in each of these areas.

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4) It has a decreasing cost of goods sold

With an increase in the number of pet-related businesses, there has also been a decrease in the cost of goods sold for the pet industry. This means that you can now get wholesale pet goods at a price lower than ever before.

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Electric grooming table by ComfortGroom, $699.00

 

 

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PetEdge

Electric grooming table by PetEdge, $1,614.99

 

 

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Best,
ComfortGroom