In any industry, getting a successful business off the ground takes passion, skill and the right people to bring it to life. Even with the right combination, the industry you choose can make all the difference. While many have looked to the childcare industry and its vital role in the U.S. economy as a strong business opportunity, the growing pet industry is rapidly becoming an attractive option for business owners across the country.
Difference in Regulations
Owners of childcare facilities face the pressure of strict government regulations surrounding caregiver-to-child ratios and capacity restrictions to ensure high-quality care. While important for the industry, the business of childcare operations can be a difficult balance that has the potential to restrict growth compared to the pet industry. Dog daycare centers and facilities like Dogtopia are subject to local and state licensing, health inspections and zoning rules that guarantee safety, but with much less restrictions.
Impact of Staff Turnover
Both childcare and pet providers see similar staff turnover rates, but the impact to client retention can be vastly different. The close parent / teacher relationship that ends with the departure of a childcare worker can be hard to replicate, while pets are likely to respond positively to any engaging staff members. Strong bonds are formed, but any eventual change in staff is not nearly as devastating.
Demand and Opportunity
With pet ownership and spending on the rise from Millennials to aging baby boomers, the pet care industry is uniquely positioned for growth like never before, as the childcare industry faces an ever-expanding roster of direct and indirect competitors. Even more promising is a measured uptick in spending on pets during the recession.
What’s more, the increasing humanization of pets amidst changing family structures and lifestyles is driving unprecedented demand for pet products and services. While dog daycare was once only a solution for pet parents, it’s now seen as necessary and beneficial for mental and physical health and social skills.
The Fastest Growing Pet Franchise
Dogtopia is North America’s fastest growing pet franchise, recently making Entrepreneur Magazine’s Franchise 500 list for outstanding unit growth, financial performance and strong franchisee support. For more information on how you can become one of our franchisees, please visit www.dogtopia.com/franchising-us/.