The pet services industry has experienced significant growth, expanding its products and services to meet the diverse needs of pet owners. With over 135,000 pet services businesses nationwide and a projected 2.7% annual growth rate, the industry saw total expenditures exceed $100 billion after pet ownership increased in the wake of the Covid-19 pandemic.
Two out of three U.S. households own a pet. With nearly 90 million homes owning pets, including dogs, cats, freshwater fish, and small animals like hamsters, rabbits and guinea pigs, the industry caters to owners in multiple sub-industries that cover the practical and pampering needs of millions of pets annually. Pets often become an essential part of the family and, like any other member of the family, specific needs must be met to ensure they remain healthy, happy, and active. That’s why finding the right kennel business for sale, dog daycare business for sale, or pet service business for sale can be a dream come true for the right pet-loving entrepreneur. Another path to entrepreneurship is franchising. Consider buying a pet franchise, and benefit from a proven business model and track record of success.
Pricing and Valuation Trends
Pricing and valuation trends for businesses in the pet services industry vary depending on the category of services and the local market. Overall, trends indicate that these businesses remain popular options for acquisition. In 2023, 138 pet services businesses were sold with a median sale price of $250,000.
Sell Your Pet Services Business
If you are considering selling your pet services business, knowing its value is key to developing a successful exit plan. For guidance on valuing and selling our pet services business, refer to our guide, How To Value & Sell Your Pet Services Business.