UK Pet Franchises enjoying great success as over 45% of UK households now have pets
Running a pet-centric business may not be everyone's idea of channelling their entrepreneurial spirit, but in right hands, such opportunities are priceless. There are hundreds of pet businesses in the UK, providing a wide range of services and products – many of which have now successfully franchised their operations. Some have even gone on to replicate their local success at the international level, spreading their presence across continents.
What makes pet businesses a great fit for franchising is the simple, straightforward business model that can be easily adapted to changing needs. This allows the franchising business to tweak their business model as and when needed, even at a hyperlocal, territory level.
The market for pet services and products can be clearly defined through numbers. For example, 12 million UK households have at least one pet (the total pet population in the UK is estimated to be over 51 million). Of these, 26% of households have pet dogs, while 18% of households have pet cats.
The strength in these numbers is obvious, because the overall UK household spending on pets stood at over £4.61 billion in 2018, according to the Office For National Statistics. This spells a clear opportunity for pet businesses – one that individual investors and franchisees have been eager to get their hands on.
Over the last few years, pet franchises have been among the consistently well-performing businesses in the UK, thanks largely to the efficient marketing and cost-effective customer acquisition strategies developed by franchisors. Since most opportunities in this sector are local businesses, the initial investment required to buy a franchise unit is affordable, often less than £20,000.
As a franchisee, you can expect banks and other lenders to help you finance up to 50% of the initial investment (including the van, if applicable). Many top franchisors also provide finance assistance through their credit partners.
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