Opening a new business is a mix of excitement and fear. On one hand, you’re excited to follow your dreams and be your own boss. You’ll get to call the shots and make all sorts of business decisions. You’ll be the top dog. As the owner, you decide whether to give a team bonus. Or whether to get more internet data for company needs on your Spectrum mobile phone number. But you also have a lot of new responsibilities. You have to make sure the business stays sustainable.
All bills and wages need to be paid on time. Accounting records, financial decisions, and tax returns will all require your approval. That’s not to mention technical needs developing like a business website or app. All of a sudden, owning a complex business seems like a scary idea. But what if, instead of going for something entirely original, you render your own version of a conventional business? This may be the best time for you to consider opening a new pet business. Why? Read on to find out.
Reasons To Seriously Consider a New Pet Business
Humans have always domesticated animals. From horses to cattle to goats, animals have helped humans in many ways. They have helped us farm, offered food sources, and even faster means of transport. Modern dogs transitioned into companions after being originally bred for work. They held important roles as herd protectors or to guard settlements against raids.
These days, however, most American households have at least one animal companion. Dogs, cats, and birds are typically the most common. Of course, more adventurous animal lovers also keep snakes, spiders, scorpions, or even the occasional alligator (Florida, we are looking at you!). But for the most part, dogs and cats are pretty much the most common types of household pets. There is at least one in nearly every home in the United States. A pet-focused business may work for several reasons including:
People Love and Spend on Pets
Let’s agree on one thing. Whatever type of animal you have as a pet, you likely love it. Probably just as much as any other member of your home. That is why you are usually willing to spend on the best food, medical care, and even grooming that you can afford. And so do millions of other American pet lovers.
Therefore, pet grooming, veterinary care, animal rescue services, and other related businesses exist. Moreover, they have remained solid business models over the decades. One of the best reasons to enter into a pet business in 2021 is that people are always willing to pay for their pet’s comfort and health. If you are offering value to them and their pets, you can quickly start picking up business among local pet owners.
Pet Ownership Is Increasing Rapidly
People aren’t showing any signs of outgrowing pets. In fact, in many cases, more American households have a pet than a child. Millennials and Gen Z are prone to bucking the system. That includes refusing to follow conventional and societal expectations like getting married and having children. Younger Americans (and people the world over) realize the serious financial responsibility associated with a child. From early care to college education fees, raising a child costs several times as much as raising a pet. And as any dedicated pet lover will tell you, raising a pet offers nearly the same rewarding experience. So, you don’t have to worry about your customer base drying up any time soon.
Pets Are Treated and Valued Humanely
More and more people are raising pets these days. But there have also been changes in how people perceive and behave towards their pets. For example, pedigree dogs have conventionally been treated as a possession or a showpiece. And they usually come with a price tag from the breeder’s that adds to that perception.
However, people, these days understand their domestic pets are far more than just something to own or show off. They treat them as members of the family. That implies they are very aware of their pet’s physical or emotional needs. People often love their pets more than any possession. Therefore, you can be sure few customers will try to skimp on a grooming emergency or a veterinary procedure. Very few will choose to make their pet suffer for a small discount.
Most Pet Needs Are Consistent and Non-Seasonal
Unlike many other businesses, the pet business usually has a reliable and consistent business volume. Most pets, like dogs, have the same grooming and medical needs all year round. That means you will likely see the same revenue levels in the summers as you do in the winters. This makes a pet business a safer option than many other types of businesses.
Less Effort Needed to Educate Target Audiences
We’ve firmly established that most pet owners love their pets. Some even love them to the point of spoiling them with lavish gifts and toys. Moreover, people have easier access to information on all subjects, including pet care. Modern consumers tend to do their research on relevant products or services. So, you can be sure a prospective customer (read pet owner) will already have a good idea of how to care for their pet. This offers a unique advantage to your business that you don’t normally see in other niches. Instead of having to educate an audience, you have one that is already aware of the best pet products, procedures, food, and grooming. All you have to do is meet their needs.