Canada is entering what will be a “Fast-Paced Economic Recovery”
As business/franchise owners, we are always looking ahead while using all available information to guide our decisions. MSN Money has recommended a Dogtopia Dog Daycare Franchise as a business to buy for post-pandemic.
Unless you were locked up last year, you are already familiar with the recent boom in dog acquisitions. As of 2018, in Canada, there were more dogs than cats for the first time since the numbers have been tracked. See Canada Dogs vs. Cats
It has often been said that the pet industry is recession-proof, and as it turns out, it looks to be pandemic-proof as well. In fact, according to Research & Markets in August 2020, the global pet service market is projected to grow at a Compound Annual Growth Rate [CAGR] of 5.2% during the forecast period (2020-2025). This was witnessed by the continuing need for Daycare and Grooming services throughout 2020.
Not surprisingly, pet owners tend to place a high value on the health and well-being of their adorable Best Furry Friends and are highly resistant to cheapening out when it comes to all manner of pet-related items, from food and supplements to grooming, daycare, and medical care.
Canadian lockdowns and other public health measures, while necessary, have impacted earnings for some pet care businesses, for Dogtopia Canada that was particularly felt in Boarding. Still, as more and more people turn to animal companions in this crazy and confusing time, there’s no reason to expect anything but growth as we are starting to return to the new normal.
As Canada gets down to business, the opportunity to capitalize on the Puppy Boom in terms of the need for Dog Daycare has never been greater. In addition, the real estate locations that are being presented are tremendous. For more information sign up HERE