Pet Care Services

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 19,100 pet care services firms in the US provide pet boarding, grooming, sitting, and training, but exclude veterinary services. Firms may specialize in a particular area, such as pet waste removal or dog walking, or offer a range of services. The industry consists primarily of franchises and independent operators. Some large veterinary services chains and pet supply retailers also offer pet care services.

Competition From Alternative Providers

Pet care service providers face competition from a variety of sources, including veterinarians, pet supply retailers, and providers closer to home.

Pet Industry Projected To Grow

Improved economic conditions and the ongoing “humanization” of pets are expected to drive growth in the pet industry, which includes pet care services.

Industry size & Structure

The average pet care services provider operates out of a single location, employs 6-7 workers, and generates $348,000 annually.

    • The pet care services industry consists of 19,100 firms that employ 124,800 workers and generate $6.7 billion annually.
    • The industry is highly fragmented; the top 50 companies account for less than 9% of industry revenue.
    • Some large veterinary services chains and pet supply retailers offer pet care services.
    • The industry consists primarily of franchises and independent operators.
    • Camp Bow Wow and Fetch! Pet Care are two large pet care services franchises.
                              Industry Forecast
                              Pet Care Services Industry Growth
                              Source: Vertical IQ and Inforum

                              Coronavirus Update

                              Apr 17, 2022 - Managers Expect Employees To Return To Work
                              • About three out of five managers surveyed by employment background check company GoodHire said that remote work is on the wane and workers will be back in the office full-time by the end of this year. Experts say that many surveys have shown that the majority of workers prefer remote and hybrid work structures, but most managers still believe that in-person work is best. Workers don’t have a lot of choice but to comply when companies announce return-to-office plans, according to Fortune Magazine. Workers are probably required to work out of the office at least part of the time unless specifically hired for a remote position.
                              • About 41% of dog owners surveyed by Wag! said that they expect to miss their dog more than their kids or partner when they head back to work. Many of the participants (62%) are new pet owners and adopted a dog within the last two years amid the coronavirus pandemic. Wag!'s survey revealed that 93% of respondents view their dogs as mental health support, while 48% credit their canines for helping reduce their anxiety.
                              • Workplace occupancy, an indicator of demand for pet care services, was 42% for the seven-day period ending on March 30, up from 40% for the seven-day period ending on March 23, and 39.5% for the seven-day period ending on March 16, according to data gathered from swipes of access control cards in buildings with security systems provided by Kastle Systems. Workplace occupancy had declined steadily from the 40.5% reported for the seven-day period ending on December 1, 2021, even when the seven-day periods ending on December 29, 2021, and January 5, 2022, are omitted due to typical low occupancy during those periods because of holidays. The Austin, TX, metropolitan area had the highest occupancy for the seven-day period ending on March 30 at 61.7%. The San Francisco metropolitan area trailed all others tracked at 31.8%.
                              • Near-term demand for pet care services remains uncertain due to continually changing return-to-workplace plans. Companies of all sizes are revisiting back-to-workplace plans as the omicron variant adds another layer of uncertainty. Alphabet’s Google and automaker Ford are among those delaying a return, while other businesses whose employees have already returned are considering adding extra precautions like requiring masks. Many of those responsible for the plans say that they are waiting for more information on the threat posed by the omicron variant before acting.
                              • Animal adoption rates jumped more than 110% during the pandemic and families volunteering to foster pets nearly tripled, according to industry research firm PetHealth.
                              • Cats and dogs that were exposed to sick owners account for most of the animals tested for COVID-19 and for 80% of the positive cases found. There is still no evidence to suggest that pets have passed the virus to humans, although cats do shed the virus and infect other cats. Most animals that have tested positive for COVID-19 shown no signs of illness or disease, veterinarians have told CNN. Most nonhuman creatures appear to weather COVID-19 infection with mild symptoms like sniffles and lethargy, if any.
                              • Stay-at-home directives related to COVID-19 fostered closer relationships between owners and pets. According to the American Pet Products Association (APPA) COVID-19 Pulse Study, 72% of owners agreed that spending time with their pet helped to reduce stress and increase their sense of well-being during the COVID-19 pandemic; 70% spent more time with their pet while they practiced social distancing; and 60% said the extra time spent with their pet made them feel closer/more bonded with their pet.
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