Pet stores have shown revenue growth even during recessions. The average profit margin on pet products is 30% to 40%. If you develop a niche within the pet industry, you can enjoy a 50% profit margin. Almost 86 million households have pets. The market size is projected to grow 5% every year till 2028.
Revenue and Profitability
The average annual revenue for a pet store business is $1 million to $2 million. Revenue is influenced by location. Stores in densely populated areas generate more sales.
Premium pet foods can cost $6,000 a packet. An average pet store makes about $400,000 in sales per year with $30,000 net income.
Starting a Pet Store
You can establish a profitable pet store that provides quality products and attracts customers. In the early stages, run your business from home to keep costs low. But you’ll need to hire workers and rent a storefront as your business grows.
Franchise Costs
How much does it cost to open a Petsmart franchise?