Five Reasons to Invest In Pet Business:
The contradictory phenomenon of increased population and decreased human contact had been baffling humankind for quite some time now. Some of the reasons to be blamed are increasing the use of technology, smaller families, and fewer social interactions. In such a scenario, humans are progressively looking towards pets to fill in the gaps in companionship. Although there is a range of animals that is domesticated around the world, dogs remain the most popular choice, closely followed by cats. This has provided an unprecedented boom in the pet as well as pet products industry. This occurrence has presented an excellent opportunity to investors around the world who look for newer arenas to invest in every now and then. A financial scrutiny too will present a range of reasons for this investment being the perfect one. Some of these reasons are:
1. Aah those numbers!
Investors could be more easily seduced by numbers than anything else. And the statistics here are as tempting as they could be. First and foremost the pet dog population went from 9 million in 2011 to 15 million in 2017. It is further expected to reach the 25 million mark by 2021. This has resulted in a subsequent boom in the pet product sector. The dog and cat sector has grown by around 300% over the last five years, the product sector has grown by 250% and overall, the sector has grown by about 200%. This upward trajectory is predicted to maintain this trend in the coming years.
There is a vast innovation industry waiting patiently to be explored in this sector. A little investment in research and development is bound to produce profitable results.
This is an emotions driven sector like baby care. Pet parents love to go out shopping for their pets. With the rapid growth of emerging towns and cities in India, this sector has been mobilised and the growth is phenomenal in urbanscapes. However, as pet parents do not have many choices they turn to e-commerce. That is also the reason why e-commerce is growing in this sector. Pet parents like the best for their pets and like to personally check out each and everything they buy for their pet. They take into consideration many parameters like health, safety etc. An opportunity for investment even in the small cities and towns is therefore huge.
4. If expansion is the goal!
Pet Care industry is crawling with opportunities to branch out. A pet care service provider can venture out into pet photography, pet daycare centers, providing birthday cakes on order et cetera. All these would be great value additions to the business and it makes sense to be a one-stop solution for all your pets needs as this is the need of the hour.
5. ‘Coz pets hate mediocrity!
The unorganized pet care market is riddled with mediocrity driven pet stores that provide products and services that fail to live up to the mark. Investing in a brand that has created a niche name for itself and has been providing world-class services and one-stop solutions to pet parents is an extremely viable idea. Also, as the Pet sector will see huge retail chains enter India it makes sense to be part of a large retail change as then you have access to better sourcing and better pricing.
But just as with any other business, success in this field depends vastly upon the passion, and in this case, compassion, harboured by the businessmen involved. If you are the one who looks beyond pragmatic reasons and feels that pet-care goes beyond the provision of basic necessities, this might just be the right thing for you. And considering that the pets devote their entire lives to one family, this is the least they deserve.
Join our movement in making the world a better place inch-by-inch, pet by pet. Take a Just Dogs Franchise and spread smiles alongside. Write to us for more.