The Industry
The pet care industry is a well-established one, generating USD 246.66 billion in value globally in 2023 and expected to grow 7% annually through 2029. North America dominates the industry, representing around 34% of the global market. Pet care historically has offered high, stable profit margins and dog daycare, boarding and grooming services tend to have a loyal customer base with limited churn. Current industry growth has been fueled by the surge in pet ownership during/post COVID-19 and trends of increased pet ownership by millennials and empty nesters. More than 40% of Canadian households have at least one dog, creating strong demand for veterinarian, daycare, boarding, grooming, walking and spa services.
The Business
Established in 2015, well managed and has a good reputation in the Tri-cities area
Diversified income (daycare, boarding, dental, training) and a growing customer base
Prices adjusted annually for inflation
Located in a high traffic area, near a shopping mall, schools and high-rise buildings
Established set of policies, processes and safety measures
Digitally transformed to reduce administrative load on the manager/owner via:
Use of an industry-standard Customer Relationship Management (CRM) to manage daily appointments, prepaid packages, customer and dog information
Use of a modern POS system to reduce cash transactions
Technology to manage back-end ops like scheduling, payroll and accounting
Professionally set up with a team of fully trained staff including one full-time manager
Can be run completely hands-off but ideal for owner-operators looking to maximise discretionary earnings through savings of up to $75,000 in annual wages
Sale price includes all tangible and intangible assets of the business
Financial Highlights
Revenues: $150,000 - $200,000
Rent: ~$3800/month
Normalised Seller’s Discretionary Earnings:
$60,000 - $65,000 for a single owner operator
$95,000 - $110,000 for 2 owner operators
Asking price: $180,000, open to negotiation, seller financing available
High Potential
Facility has unused space that can be leased out to groomers. Potential additional revenue of $5,000 - 10,000 annually
Boarding income is restricted due to limited staff availability. New owners could take on additional boarding requests with potential extra revenue of $10,000 - $15,000
Facility can take double the current dog numbers - equivalent to additional potential revenue $100,000 to $150,000 annually
