With more people becoming pet owners, a business that caters to the needs of pets can be extremely profitable. In the United States alone, 67 percent of households have at least one pet. Also, many pet owners are willing to spoil their fur babies, as shown by Americans spending $95.7 billion on pet items in 2019.
Aside from the potential earnings, a pet-related business can also be rewarding if you’re a pet lover. It gives you the chance to work with animals and help pet parents ensure their pets get the best care. Being passionate about pets can be a good reason to consider starting a business in the pet industry.
In this article, you can get some ideas about different businesses in the pet industry. From supplying pets with their essential needs to caring for their health and well-being, here are five lucrative business ideas for pet lovers to consider investing in.
Pet Supply Store
Many pet owners consider their pets part of the family and won’t think twice about showing their love by giving them high-quality pet products. As such, putting up a pet supply store that gives pet owners access to great products is a good business to start. You can reach out to trusted brands about becoming a licensed distributor for items like pet food. If you want to develop your own line, focusing on customizable pet products will allow you to feature your brand prominently.
Although a pet supply store can be a costly venture to set up due to financing your initial inventory, it’s one of the most profitable businesses today. That’s because you can target the needs of both new and existing pet owners. For new pet parents, they’ll need essential supplies such as collars, leashes, and food bowls for their precious pets. On the other hand, current pet parents will eventually need to replace old or worn pet items or upgrade to fancier ones.
When pet owners need to go on a business trip or on vacation and can’t take their pets along, they’ll need pet boarding services. A pet hotel offers a safe place for their pets to stay temporarily. Apart from ensuring that pets are well-cared for, pet hotels offer more comfortable accommodations than other pet boarding businesses and may even have additional services such as grooming and dog-walking.
If you opt to start a pet hotel business, you’ll need a facility where pets of all sizes can stay cozy. This means having appropriate kennels for different pet types and sizes, as well as an adequate outdoor space to let pets exercise. You also need skilled and animal-loving staff to take care of multiple pets’ needs from day to night. If you want to set your pet hotel business apart from others, consider amenities such as pet pools for dogs, climbing trees for cats, and pet cams for owners to view their pets on a live feed.
Pet Travel Service
Traveling or moving with pets can be pretty stressful, both for the owner and their pets. If you have a reliable method of transporting animals or are an expert on the topic, you can offer your services or share recommendations with pet owners looking to safely transport their pets from one place to another.
To get started in this business, it’s a good idea to register with the International Pet and Animal Transportation Association (IPATA). The trade group has a mentorship program that helps new business owners understand the best practices for careful pet transportation and relocation services. As such, you can get the guidance you need to become a successful entrepreneur.
Another rewarding career in the pet industry is becoming a veterinarian. Veterinarians are medical professionals who specialize in treating different animals. Similar to medical doctors, becoming a vet requires years of training and an ample investment of time and money. You can expect to study for eight years and spend an average of $200,000 in veterinary school. However, upon graduation, you can expect your initial investments to pay off, as the median annual income of a vet is around $95,000. Additionally, you’ll get the opportunity to do what you love and fulfill your passion for caring for pets of all kinds.
Pet trainers teach dogs to develop and maintain good habits so they behave well and have pleasant interactions with their owners and other animals. Since many dog owners don't have the time or skill to train their pups on their own, they hire pet trainers. As such, offering obedience training can also be a lucrative business.
Compared to other pet-related services, becoming a dog trainer has relatively low startup costs. You can rent a space to set up a dedicated training course, or simply do the training in a park or in your backyard. If you want to succeed in this business, make sure to get certified as a dog trainer. It will help you understand the best practices for teaching dogs with different behaviors using various methods.
As long as you have a passion for pets, there are different business opportunities you can explore. As a start, you can consider the business ideas mentioned here. They will help you take advantage of the growing pet industry while doing something you love and enjoy.