FranNet Verified Brand
FranNet Verified Brands are reviewed by FranNet to ensure legitimacy and industry required documentation.
|Liquid Capital Required:||$200,000|
|Net Worth Required:||$600,000|
|Total Investment:||$390,700 - $1,265,300|
|Royalty Type:||2% first 12 months, 3% thereafter|
|Financing:||Via 3rd party|
|Incorporated Name:||PSP Franchising, LLC|
|Home Office:||Livonia, Michigan|
|Awards:||Entrepreneur Magazine's FRANCHISE 500 Ranked 2018, Franchise Times TOP 200+, Franchise Business Review TOP 50 FRANCHISE, Franchise 500 RANKED #1 IN CATEGORY, 2017|
About Pet Supplies Plus
Pet Supplies Plus has built a reputation around the principle of improving access to better products and services for people with pets. With a solid understanding of the bond that exists between humans and their pets the organization offers convenience, value, and fun at ever Pet Supplies Plus location. Boasting a track record of innovation and quality care, Pet Supplies Plus draws on over 30 years of experience offering dedicated service and quality to our neighbors with pets. The company's streamlined design and layout makes for easy access to the industry's widest assortment of natural foods and hard goods while offering a range of additional services designed to help people find the right pet and provide the best in pet care for their beloved family member. The company's home office is located in Livonia, MI.
Values & History
The first Pet Supplies Plus store opened up in 1988, founded by Jack Berry and Harry Shallop. The company began franchising in 1991 to promote their solid brand around the country by offering a proven business concept backed by decades of knowledge and experience that keeps up with changes in the industry, such as the growing demand for all-natural foods and the elevated role that pets play in today's families. By offering great selections, expert advice, superior value, and excellence in customer service, Pet Supplies Plus has grown to over 450 locations serving families in 33 states. Winner of several prestigious awards, such as Franchise Times TOP 200 list and the #1 spot in Franchise 500 in 2017, the company's standards for quality are unquestioned. At Pet Supplies Plus, we're crazy for pets, too.
The pet supply industry is worth $19 billion in the US as of 2019. Annual growth of 2.6% over the last five years contributed to a profit of $838.4 million, with over 13,000 businesses in operation. The industry is projected to maintain strong growth moving to 2023 as the number of pet-owning households increases over the current 65% figure and the economy continues to improve, resulting in industry revenue forecast to rise 2.8% annually, reaching $22.4 billion.
Purchasing a Pet Supplies Plus Franchise
Those who wish to become Pet Supplies Plus franchise owners will need a net worth of at least $600k, with at least $200k in liquid capital to contribute to their business. Royalty fees start at 2% for the first year, then 3% thereafter throughout the life of the agreement. The franchise fee is $49,900, putting the total estimated investment between $463,400 and $993,400. There are no current financing options, but a 20% discount on franchise fees for veterans is available.
Ideal Candidate & Qualifications
Pet Supplies Plus is looking for prospective franchise owners that appreciate the importance of community engagement and building relationships. While successful franchisees come from a variety of backgrounds, all share a love for pets and a commitment to excellence in customer care. Ideal candidates must share the desire to make it easier for people to get the products and services they need for their pets. Hardworking, caring people with strong values who are willing to work under a proven business model are the best fit.
Training & Support
Pet Supplies Plus offers a 2-week comprehensive training course that covers all aspects of franchise operation through an immersive hands-on experience, including merchandising, product ordering, daily retail operations, customer service, and more. The training takes place at one of the certified corporate training locations around the US, while online resources and offer continuous support as you work to grow your business. District team leaders (DTLs) will partner with new franchise owners to help promote and share best practices under the Pet Supplies Plus brand, and a team of marketing experts is always on-hand to answer questions and provide guidance on marketing strategies to promote your location.