LIVONIA, MICH. — Pet retailers Pet Supplies Plus (PSP) and Wag N’ Wash are embarking on significant growth in the coming year. According to retailers, the pet industry is set to be worth nearly $275 billion by 2030, providing an opportunity for every franchise.
PSP became the largest pet retail franchise in North America, according to the company, and ended 2023 with 83 franchise agreements. Wag N’ Wash secured 12 deals throughout the year, doubling its number of stores since PSP’s acquisition in 2022.
“Reflecting on the year, the key to our success was building a strong track record, tremendous passion of our existing franchise owners, emphasizing our recession-resistant business, and leveraging our strong leadership team,” shared Nick Russo, chief development and stores officer of Pet Supplies Plus Group. “Regardless of experience, franchisees can find their perfect match here — whether that’s a full-service, large-format store like Pet Supplies Plus or a smaller, service-driven dog specialty store like Wag N’ Wash.”
According to retailers, consumer spending in the pet industry will increase by more than 51% between 2018 and 2022, offering franchise owners a huge opportunity to cash in on the growing market .
Wag N’ Wash flagship store in Ann Arbor, Mich.
| Source: Pet Supplies PlusTo help fuel growth, various grand store openings took place throughout 2023 with the addition of 62 new locations for PSP and 13 for Wag N’ Wash, one of which is the opening of a flagship store in Michigan.
The significant growth of PSP and Wag N’ Wash has led to the retailer being recognized as the top pet franchise in the BusinessmanThe Franchise 500®. The brands also earned a ranking on Forbes’ “Best Customer Service” list. According to PSP, these recognitions elevate its position as an industry leader in both franchising and pet retail.
“We expect 2024 to be another strong year as we remain laser-focused on growing the Pet Supplies Plus footprint while continuing to roll out Wag N’ Wash in new markets,” said Russo. “Interest in the Pet Supplies Plus brand has never been stronger for both new and existing markets. Equally impressive, Wag N’ Wash has become a popular commodity, so we expect to sell a record number of stores this year.
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