Running a pet franchise is a dream opportunity for many people. But running one and turning it into a longer term successful business is another thing altogether. If you’re looking for tips on how to run a pet franchise successfully, here’s what you need to know.
Pet franchises are some of the most sought after business opportunities in the UK. And while lots of people may want to start their own successful pet franchise, only a few will ever end up doing it. To make sure that you’re the successful one, here are some of our top tips for running a pet franchise to be proud of.
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Why start a pet franchise?
The UK is a nation of pet lovers. With over 11 million households in the country having at least one pet, it’s clear that there is plenty of room for ambitious franchisees looking to start their own businesses working with pets.
So why choose pets over any other sector? The pet sector has quietly become a multi-million industry, earning a market value of £2.9 billion in 2018 alone [Statista]. Whether you’re delivering healthy pet food, taking dogs for a walk or focusing your efforts on running a grooming business, there are lots of potential pet owners willing to pay for your services.
Pet care is one of the UK's many thriving industries where consistent growth is happening year-on-year. The most recent figures published by the Office for National Statistics revealed that expenditure on pets and related products reached an annual value of 7.9 million British pounds in 2020, representing a 170 percent increase from the beginning of the survey period in 2005.
5 tips for running a pet franchise
So how exactly do you run a successful pet franchise? To stand out from the crowd and make your franchise the one pet owners can’t wait to buy from, here’s what you need to do.
1. Keep topping up your skills
You’ll need a number of essential skills at your disposal before you take the plunge and start working as a pet franchisee. Before you get the ball rolling, make sure you have the following skills as a matter of course:
- An excellent way with people
- Knowledge of best practice when it comes to protecting pets
- Love working with animals
- A solid grounding of leadership skills
- Clear communication skills
- The ability to organise yourself and a team
But where being a franchisee excels over starting your own independent business is in the amount of excellent and ongoing personal development you can make the most of. Franchising isn’t just about getting the skills together to start your business, it’s about continuing to evolve. With the support of dedicated tutors and mentors, your business will be able to stay on top of any new trends in the sector - so always make sure you’re seizing every opportunity to grow.
2. Specialise your services
The pet business sector is broad, so while you may want to work with a franchise that operates across the whole sector, it can be equally rewarding to find a niche and to focus your efforts there.
For example, while the pet sector has a vast market worth, the pet food sub-sector rakes in a large share of this worth on its own. This isn’t at all to say that these other sub-sectors aren’t profitable, but if you have your eyes on a specific place to invest your funds, do your research and find a viable area to invest in.
3. Never lose sight of your finances
Running your finances sustainably is the key to turning your business into a long-term establishment. From financing the start-up of your business in the first instance to managing your repayments over time and earning revenue, keeping a wary eye on your finances is essential for managing your business effectively.
Early on in the process of starting your franchise business, you’ll need to work through a business plan where you will be able to present and receive feedback on your financial projections. Make sure you use this feedback wisely and figure out your finances before they become a problem.
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4. Recruit wisely
Your employees are the face of your business and the lifeblood of what you’re trying to achieve. Recruiting any old person is a sure way to limit the life of your franchise, so you’re going to need to pay close attention to how and who you recruit.
When you’re looking to add to your team, consider:
- Whether or not they have previous experience working with pets. Would it be preferable if they did?
- Do they have the right people-facing skills?
- Are they committed to the values and ambitions of the franchise?
- Do they have qualifications?
5. Seek out experience
Franchisees aren’t left alone to deal with their issues. You’re part of a regional and national franchisee network of like-minded people who are all facing the same issues. Don’t be afraid to reach out and turn to your network for advice and feedback.
Become a pet franchisee today
If you love working with pets and are looking for a new challenge to put your skills to, become a franchisee and see how running your own pet franchise business can work for you. From excellent support to ongoing development and affordable start-up rates, franchising is a great way to run a business without many of the most common pitfalls.
But if you’ve decided that you would be better suited elsewhere, have a look at the UK franchise directory where you will be able to find a whole range of different franchises in different sectors.
Elliott Fudge, Point Franchise ©