Pet Supplies Plus
The $99 Billion pet industry has been steadily growing for 30 years now and long viewed as a recession resistant one, as it withstood the last two recession dips in the economy - 2001 and 2008. Take the 2020 pandemic and it became an essential business that increased its growth during a year other industries were suffering. Let’s take a further look into the pet industry and the franchise concept Pet Supplies Plus to understand what they offer as a business model for investment.
“Pet industry expenditure in the United States was forecast to reach approximately 99 billion U.S. dollars in 2020. U.S. consumer expenditure has gradually increased year-on-year, growing by around 560 percent between 1994 and 2019.” - Statista
Pet Supplies Plus (PSP) has been in business since 1988 and franchising since 1989. They have over 500 units open in 34 states, with no closures, and are slated to open 114 in 2021. This equates to - Proven Concept. Allowing potential franchise owners to feel more confident in the investment they’re making. In addition, in late 2018, PSP was acquired by Sentinel Capital Partners, a private equity group from New York. Franchising is one of the industries Sentinel specializes in to provide competitive advantages, strong relationships and ability to share best practices. Some of their current holdings are and have been: Taco Bell, Pizza Hut, CABI, Church’s Chicken, TGI Fridays, etc. Sentinel is one of the nation’s leading lower mid market firms that has raised approximately $5.2 billion of capital since its creation in 1995. All this is also why Entrepreneur has ranked them #21 out of Entrepreneurs’s Franchise 500, #1 in the pet industry and ranked as the fastest-growing franchise!
For 2021 Pet Supplies Plus newest accolade as one of Entreprenuer's Fastest-Growing Franchises, ranking 61 out of 150 franchises. In addition, PSP also received their top in category ranking for the pet industry. This is the 2nd year in a row winning this reward and the 7th willing the Franchise 500 top category.
"2020 numbers had our tails wagging, and 2021 looks even better for the leading pet store franchise. We are proud to announce:
500+ locations and still growing
30 new franchise agreements for 49 new stores
70+ new stores on track to open
2,524% year-to-date increase in e-commerce sales."
Successful franchisees come from a variety of backgrounds; grocery, retail, food, banking, service-related and ‘Corporate America‘ industries and more. All share a love for pets, are customer service oriented and are strong team builders. An ideal Pet Supplies Plus candidate must align with our company’s mission of making it easier for pet parents to get better products and services for their pets. For a cultural fit, we look for individuals that have strong values, are hardworking, fair, honest, caring and are willing to follow a proven system.
Put all this together as the reason why we chose to do an interview webinar with them so you can learn more about the brand.
“PSP is the ‘go to’ destination for all pet parents. Pet Supplies Plus has built its reputation by “making it easier for our neighbors to get better products and services for their pets.”
To learn more, below are two links to their recorded webinar:
If you would like to be introduced to the brand, reach out to begin the process:
Email: firstname.lastname@example.org - Subject: Pet Supplies Plus
Casual Call: www.thefranchiseeducator.com/book-online