As the economic output of franchising is expected to reach $893.9 billion this year, two pet retail franchise brands maintain their position as leaders with consistent, yet rapid growth. Pet Supplies Plus and Wag N’ Wash report double-digit mid-year growth with 23 sold franchise agreements and 16 store openings. While each franchise has a unique offering, both legacy brand Pet Supplies Plus and emerging concept Wag N’ Wash have the billion-dollar backing of 30+ years of franchise and industry experience.
As the largest pet retail franchise in North America, Pet Supplies Plus continues to be the number one player within its sector by providing best in class support, technology, and buying power, with the lowest fees in the industry. Wag N’ Wash, the emerging self-wash, grooming and natural pet food franchise, has grown its store count by 100% since being acquired in early 2022 and opened its first location in South Carolina in May. Collectively, the brands are projected to sell a total of 70 franchise units and open at least 45 stores by year-end.
“Heading into 2024, we were focused on growing Pet Supplies Plus’s footprint and bringing Wag N’ Wash to new markets, and we’ve achieved some of these goals and are making strong progress on others,” said Nick Russo, chief development and stores officer of PSP Group. “We are continuing to receive high interest in both franchise opportunities, especially from existing franchisees who are looking to diversify their portfolios with a concept that is primed for success in a thriving industry. With the stability of both brands and strength of each system, the future couldn’t look any brighter.”
The success of Pet Supplies Plus has not gone unnoticed. The brand was recently named the top pet franchise in Entrepreneur‘s Franchise 500, the world’s first and most comprehensive franchise ranking. Landing No. 21 on the overall list, this is the tenth consecutive year Pet Supplies Plus earned the top spot in its category. The franchise brand also earned a ranking on Forbes’ inaugural list of ‘Best Customer Service’ – which is a core pillar for the brand. Both of these prestigious awards further position Pet Supplies Plus as an industry leader, for both franchising and pet retail.
In addition to prioritizing innovation to meet the changing needs and wants of its consumers with private brand offerings and new launches, Pet Supplies Plus and Wag N’ Wash are rooted in a booming industry and supported with advanced marketing strategies, supply chain efficiencies and omni-channel shopping options. Additionally, FRANdata, a leading research and advisory firm that analyzes the franchise market, reports that Pet Supplies Plus’s 2023 FUND Score is 905 out of 950 – this means Pet Supplies Plus franchisees have access to the best credit terms including fixed rate financing, low equity payments and easier processes.
Credt: Source link