Pet Supplies Plus Franchise
Opening your own Pet Supplies Plus franchise could be the perfect fit if you’ve been dreaming of owning your own business and expanding upon something already existing.
For pet lovers and aspiring business owners, here’s everything you need to know about opening your own Pet Supplies Plus franchise.
About Pet Supplies Plus
A little history
For over 30 years, Pet Supplies Plus has been the undisputed leader in the pet supplies retail industry. In 1989,the business was founded in Michigan and had established 100 locations by 1995.
The company boasts its own pet food called Redford Naturals, maintains its omnichannel options to provide for its customers and has remained Entrepreneur’s number one pet franchise for eight years in a row.
The franchise group has grown steadily since its inception and saw tremendous sales growth in 2020 as people turned to pets as comfort during the pandemic. As pet stores were deemed essential, Pet Supplies Plus increased their sales by 76.4% in the first month of the COVID-19 pandemic.
Related: How One Woman Turned Pandemic-Induced Boredom and a Makeshift Garage Art Studio Into a Thriving Franchise
Pet Supplies Plus, founded in 1988 by Harry Shallop and Jack Berry but now led by CEO Chris Rowland, has remained at the top of the pet care industry through innovative practices, including their interactive, omnichannel sales model.
The business opportunity offers several options to their customers, including:
- Curbside pickup.
- Online ordering.
- In-store shopping.
- Same-day delivery.
- Pet grooming.
- Pet adoptions.
In 2021, Pet Supplies Plus stores opened its 500th new store. This is a huge accomplishment, as the pet supply industry is a highly competitive, $20 billion industry and is projected to grow 2.3% yearly. Pet parents and their pets continue to trust Pet Supplies Plus as their favorite pet store retail franchise.
Their mission
Pet Supplies Plus’ mission to be America’s Favorite Neighborhood Pet Store has never wavered. They believe that while many brands come and go, one thing that will never go out of style is the love they have for their pets, the extent they will go to get pets what they need and the importance of being the go-to store for expert advice and best-in-class customer experience.
A PSP franchise opportunity is even more remarkable because a Pet Supplies Plus franchise store averages $2.7M* dollars annually.
As the #1 pet franchise for eight years, they are consistently recognized as the industry leader with high marks in franchise excellence and Franchise Owner satisfaction. You can be the next to bring their proven, high-demand pet franchise to your market.
Pet Supplies Plus is proud to be ranked #20 in Entrepreneur Magazine’s Franchise 500 and #1 for the pet industry for the eighth year in a row, according to Pet Supplies Plus 2020 FDD.
Who are the ideal candidates for Pet Supplies Plus?
PSP welcomes driven, business-savvy entrepreneurs who love pets to join their front-running team. Franchise Owners come from all different professional backgrounds, including working for Fortune 500 companies, for the military, as multi-concept franchise owners looking to expand their business profile and as people looking for an active retirement plan.
They look for individuals that are values-oriented and have some of the following traits:
- Unwavering desire to succeed.
- Aggressive pursuit of growing the business.
- Great management skills.
- Understanding of the benefits and obligations of a franchise relationship.
- Successful record of accomplishments in business.
- Appreciation for the overriding importance of customer engagement and great customer service.
Franchise benefits and information
Before entering any franchise agreement, it is vital to have the facts. While franchising does come with huge benefits, there are also some costs and fees that you must be aware of.
Benefits of becoming a franchise owner include:
- Flexibility.
- Independence.
- Self-sufficiency.
- Leadership opportunities.
- Sense of achievement.
- Income potential.
- Built-in brand awareness and customer base.
Take a look at some critical numbers for PSP:
- Business Established: 1989.
- Franchising Since: 1990.
- Total Units: 450+.
- Franchised Units: 500+.
- Initial Franchise Fee: $49,900.
- Veteran Discount: 20% off the initial fee.
- Royalty Fee First 12 Months: 2%.
- Royalty Fee After 12 Months: 3%.
- Liquid Net Worth: $200,000.
- Net Worth: $600,000.
- Incentives: $6,000 discount on franchise fee for qualified veterans.
Related: The Top 15 Franchises You Can Buy for $25,000 or Less
How do you open a Pet Supplies Plus franchise?
Are you ready for a step-by-step breakdown of how to open your own Pet Supplies Plus franchise? Keep reading to discover the process.
1. Introductions
Pet Supplies Plus has a Franchise Development Director who can describe what it takes to be a franchise owner with the company. The franchise looks for people who are:
- Motivated to do well.
- Savvy with investments.
- Pet lovers.
In addition, the director will review your questions, provide answers, provide investment details and assess the potential of the relationship.
Related: 8 Essential Real Estate Questions To Ask Potential Franchisors
2. Franchise Disclosure Document (FDD)
Prospective owners complete the application process, and Pet Supplies Plus will provide their FDD so you can review whether or not it is the right fit. Franchise Disclosure Documents should include the following:
- Company description and summary of its history.
- Disclosure of previous or current litigations.
- History of bankruptcy.
- All costs and fees of investment.
- Products and services details.
- Proprietary information, including patents and copyrights.
- Financial statements and receipts.
3. Consult with franchise owners
It’s always a good idea to get advice from someone who’s been through the process, so this is your chance. PSP wants its business to feel cohesive so its customers know what to expect no matter which location they visit.
To create this environment, you can speak with current franchise owners to get better insight into what it’s like to own a Pet Supplies Plus franchise.
4. Meet the team
Again, Pet Supplies Plus wants its entire company to feel cohesive. To achieve this, they require all potential franchise owners to attend an informative session at an actual location to familiarize themselves with the store and how it operates and to hear from executive leaders who’ll describe their experience and instill advice on what it’s like to run your store.
5. Franchise agreement
Once you’ve come this far, the next step is to finalize the agreement, which is a staple in the franchise industry. Before you step into this commitment, make sure you’ve done your due diligence, including the following research:
- Meeting with multiple franchise owners to collect advice, pros and cons and their experience.
- Check into the revenue and fees of the franchise (industry fees, royalty fees, marketing fees).
- Ensure your net worth and liquid capital match the company’s qualification requirements.
- Length of contract and renewal agreement.
- Any other possible restrictions.
- The proper licenses required to open your location.
6. Get started
Once everything is finalized, it’s time to start as a franchise owner with the Pet Supplies Plus family. There is still plenty of work ahead of you, but make sure you take a moment to celebrate, as this moment is a huge accomplishment.
Perks of franchising with Pet Supplies Plus
Franchising often comes with perks and built-in guidance that you don’t always have with non-franchise business ownership, and Pet Supplies Plus is no exception. Take a look at some added benefits of partnering with the company.
Real estate and site location
Pet Supplies Plus is always looking to expand its reach. They have a team to guide you through the location process to promote a successful business venture.
In addition to that, their website has a handy territory finder that shows whether or not there is a growth market in your area.
Related: The Retail Real Estate Market Is Growing. Here's Why That's a Big Win for the Franchise Industry.
Store design and layout
As an independent business owner, building your location is one of the most challenging tasks. If you’re not a construction expert, it means hiring an architect, a contractor, an interior designer and every other position for the process.
However, PSP will provide a customized store layout specifically for your location. They can also help with the purchase of necessary special equipment.
Management and employee training
Being a business owner is a challenging feat. Luckily, Pet Supplies Plus has a hands-on two-week training program that will guide you through all operational aspects of the job.
They have certified corporate training stores all over the United States, as well as online resources and district team leaders to help you become a franchise owner.
Buying power
Because Pet Supplies Plus is a nationwide company, you can benefit from the buying power that comes with a broad reach that allows you to offer the best prices to pet owners.
Marketing
Marketing can be a considerable cost, as getting the word out about your business and establishing credibility can take quite a while.
However, Pet Supplies Plus will provide you with a team of marketing experts who can offer marketing strategies for your store based on the location and audience of your store.
Related: Why Franchise Brands Need to Start Utilizing Video Marketing
Merchandising
With Pet Supplies Plus, you won’t have to find vendors and navigate the communication process of a new relationship. PSP is an established company that has nurtured relationships with its product vendors for decades. They can help direct you to vendors and quality merchandise to stock in your store.
POS (Point of Sale) hosting
Instead of having to complete cost comparisons and trials of all the point-of-sale systems out there, Pet Supplies Plus will provide you with their specialized system.
Their POS system includes:
- Retail pricing.
- Shelf signs and labels.
- Price verification.
- Scanned inventory.
- Product movement.
3 Reasons to become a Pet Supplies Plus franchise owner?
If you like what you’ve heard so far, here are three reasons you should choose Pet Supplies Plus for your next business venture.
1. You’ll love what you do
Pet Supplies Plus trusts its franchise owners. This means you’ll have the independence to run your store your way. Whether you're a hands-on owner or prefer to let your trusted team operate the day-to-day, your ownership style is up to you.
2. You’ll build lasting relationships
Customers love PSP because they are so connected to the communities they serve. Expect high customer retention rates through a mutual commitment.
3. You’ll be privy to proprietary products
Pet Supplies Plus listened to its pet owners and created its own products to accommodate the growing market for healthier pet options. Because of this, as an owner, you’ll experience higher profit margins and a more significant bottom line.
Related: The Top 5 Hot Franchise Categories for 2023, According to One Industry Expert
Is opening a Pet Supplies Plus franchise right for you?
As a franchisor, Pet Supplies Plus is passionate about growing its brand and working with driven franchisees who love animals and care about providing pet owners with the best options.
Looking for more info on franchising and starting your own business? Explore Entrepreneur’s Franchise Center.
