Pet Business Booming

Humans and pets go back probably to the beginning of the human race. In many families, the most popular member is their dog. Everyone may be upset at each other, but not at the family dog. Depressed senior citizens snap out of their doldrums when a dog, wagging its tail, comes to visit their nursing home. And it's not just dogs. A restaurant in the heart of Waikiki does a booming business because of its huge, two-story marine aquarium (and their good food).

According to a recent Business Week cover story, Americans now spend $41 billion annually on their pets. To put that into perspective, that’s in excess of what Americans spend on the movies ($10.8 billion), playing video games ($11.6 billion) and listening to recorded music ($10.6 billion) combined!

The Business Week story goes on to say that The American Pet Products Manufacturers Assn. reports that 42% of dogs now sleep in the same bed as their owners, up from 34% in 1998. Their menu has now gone far beyond the dog food of years ago, reflecting the variety of the diets of the humans they live with. Half of all dog owners say they consider their pet's comfort when buying a car, and almost a third buy gifts for their dogs' birthdays.

Here’s a comprehensive list of franchisors in various aspects of the pet industry.

For a short overview of the pet industry, see this Business Week video.

And here’s the link for the Business Week cover story.