Pet Supplies Plus, the largest pet retail franchise in the US with more than 50 locations in 25 states, has signed six new franchise agreements.
The new franchises will be located in Boca Raton, Florida; Tampa, Florida; Stephenville, Texas; Elizabethtown, Kentucky; Hartland, Michigan; and Greenville, South Carolina.
“We are excited to welcome six new entrepreneurs to the Pet Supplies Plus family to help answer strong consumer demand. Few industries have seen greater development in recent years than the pet industry. This, combined with the proven franchise operating model, provides a unique investment opportunity for entrepreneurs,” said Alex Roberts, vice president of franchising. “We are continuing our expansion and seeking qualified single and multi-unit owners in Atlanta, Denver, Houston, Memphis, Minneapolis, Nashville, Raleigh, St. Louis and Tampa.”
In 2014, Pet Supplies Plus opened 10 franchise and 20 corporate stores. The company is on pace to open 25 franchise stores in the next 12 months, and company executives anticipate adding more than 200 new stores in the next five years.
Pet Supplies Plus also recently formed a partnership with Franchise America Finance that will make US$15 million available to qualified franchise candidates. Franchise America Finance, a full-service commercial franchise finance company, will work with qualified Pet Supplies Plus franchise candidates and franchise owners who are pursuing expansion, to offer a comprehensive solution for financing through a franchise lending program created specifically for Pet Supplies Plus. Investments range from $300,000 to $885,000 for a small store to $400,000 to $1.1 million for a larger location.
While cat trends continue, the pandemic has added to overall slow-growth treatment of the cat food market.
Premiumization and humanization, as well as automation, fueled continued operation growth in spite of the COVID-19 pandemic.