Australia’s Love Of Animals Could Be Key To Your Successful Business

Australia loves its animals. That is quite simply a fact.

If it didn’t, then why would households within the country spend more than $12 billion on pet products every year?

There is no answer to that question, because as we’ve previously stated, Australia and its inhabitants love their animals, which come in all shapes and sizes.

Of course it is a country that has its favourites (we will talk more about that later!), but overall, it's pretty clear that it is a country that cares deeply about their pets.

It has been estimated that 5.7 million of Australia's 9.2 million households own a pet.

Even the homes that don’t have pets, want them! According to a recent study, almost sixty percent of all households that don’t have a pet, are considering getting one.

As logic goes, if you have a pet, then you have to spend money on that pet. Thus, it is hardly surprising to see more and more franchise systems find success within this area.

Here are just a few reasons why the pet franchise industry is booming right now!

Opportunities are plentiful

Pet spending isn’t focused in just one area, so there is a franchise opportunity to suit most people.

For instance, almost 35 percent of the overall spend on pets in Australia is on food, while 18 percent is on veterinary services and almost 12 percent is on pet healthcare services.

If you are interested in providing garments for pets, then you should know that around nine percent of overall pet spend in Australia is on products and accessories.

The pet vanity doesn’t end there either, with almost five percent spent on grooming.

If none of what’s listed above interests you, then worry not, as nearly 22 percent of the spend is on what is listed as “other” and that "other" consists of all kinds of things.

Thus, there is a clear variety in this market that doesn’t exist within others!

A dog’s life

Unsurprisingly, dogs are the number one pet in Australia, with around 168 pet canines for every 100 pet cats.

Thus, it’s likely that the vast majority of potential entrepreneurs reading this would like to invest in a dog-related business.

If you do, that’s good news, because according to ABC, the average dog owning household spends around $1,975 on their dog.

Thus, it’s a massive market and one which is ripe for innovative entrepreneurs to take advantage of. Of course, Australians do love all kinds of animals, so if you're interest lies more in cats, parrots or alpacas, then there's probably still an area within this sector to suit you!

Growth

According to IBISWorld, the pet industry is on the rise, with the market research firm estimating a 7.4 percent annual growth rate for this sector.

Thus, if you can get on-board an excellent franchise system and work hard within it, then you could end up part of this economic boom.

Business Insider has also stated that the pet industry “could definitely be a good market to try and find some holes in.”

Our pet franchise opportunities have all worked hard to find their perfect niches within this growth, so check them out here.