If you're looking for a business to start and you have a passion for pets then you are in luck. Pets are a $51 billion dollar per year industry. With an industry that massive there are bound to be opportunities to discover a niche that you can turn into a successful business. In fact, according to the American Pet Product Association, "The pet industry is also a major attraction for entrepreneurs and investors looking for creative and innovative products." Here are 5 ways that you can build a business around pets:
CATER TO THEIR NEEDS
Kennel owners, dog walkers, pet sitters, pet photographers, pet groomers, people who create pet products all cater to the needs of pets or their owners. With 62 percent of all households in this country owning at least one pet, there is a huge market which you can turn to for inspiration for a business.
Many pets require training and most people don't know how properly train pets. This creates opportunities for those that know how and enjoy training animals. And thanks to the number of pets out there and the number of different types of pets (dogs, cats, birds, and even monkeys) there is no shortage of opportunities available to you. You can open a training school, do training one on one, or create various information products (books, dvds, e-books) are distribute them over the Internet.
This is the more traditional route for working with animals. It's a great option for the right individuals. Brick and mortar pet stores, pet breeders, and exotic pet sellers all make money selling animals as pets. Here again, opportunities within this segment are numerous due to the sheer size it. If you want to own a pet store you can have a store that deals exclusively with high end pure breed dogs or you can have a store that sells a variety of species. Or, you can do like a good friend of mine and breed pitbulls and sell them on Craigslist. The possibilities are numerous.
CARING FOR THEM
The healthcare industry for animals rivals the one for people in terms of size and dollars spent. According to the American Pet Products Association, in 2011 Americans spent 13.41 billion in vet care and another 11.77 billion in over the counter medications. It generally takes a large investment of money and time to start a business in this segment but the pay off can be huge because people will pay for your specialize skills. Professions like veterinarians may immediately jump to mind but what about pet psychic? Or how about pet psychiatrists?
Probably the hardest way to profit from a passion for animals is to be an advocate for them. Pet rescues, animal charities, animal conservation are some of the ways in which people advocate for the care and well being of animals. It's not glamorous work and the money usually is not abundant. Sometimes, however, our passions can take the form a calling. And when that happens, profits usually take a backseat to the passion.
Entrepreneurs that have a passion for animals have a gold mine of opportunities in the pet industry. Last year people spent close to $51 billion dollars on pets and pet related products and services. The number is expected to rise each year. Across the board, animal centered businesses are experiencing growth. This includes traditional businesses like veterinarians and pet shop owners as well as newer ones like dog walkers and pet psychics. Aspiring entrepreneurs with the right skill set and some imagination can carve out a great niche and build a thriving business.
The ones listed in this post are some of the more popular ones. I would love to hear other ways that people are building businesses around their passions for animals. Leave me comment and let's discuss.
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