Chester's Choice Hot Investment Big Returns Pertinent Article | Gourmet Biscuits for Dogs from Chester's Choice

by Entrepreneur Magazine * Sept 2007

       How to Make Your Millions

Whether you want to buy a franchise or do it yourself, check out 7 hot markets that can make you a millionaire.

Pampered Pets

If you’re a pet lover, consider getting into the fast-growing pet products and services industry. Pets are a part of the family in 63 percent of U.S. households. In fact, in 2006, Americans spent $38.5 Bullion on pet products and services a figure expected to rise to over $40 billion in 2007, according to the American Pet Product Manufacturers Association. Traditional pet lovers might consider a pet franchise business like pet grooming, pet products, pet walking or training. In fact, in our 2007 Franchise 500, the number of pet-related franchise units grew 23 present from 2005 to 2006.
    There are many niches in which to start your profitable pet business, according to APPMA president Bob Vetere. Natural and organic pet food is a particularly hot area, he notes. Much like in the human world, where green products are all the rage, green pet products are quickly gaining in popularity. "Any trend you see in human foods, about six months later, it pops up on the pet food side of the ledger," says Vetere. "This is what's happening with organics and naturals. It's finally dawned on marketers that the same person who's buying food for the family is buying food for the pet."
   Convenience products are heating up as well-from automatic feeding devices and timed watering devices to automatic pet doors-anything that allows owners to have a busy lifestyle while still taking care of their pets is hot, notes Vetere. On the same convenience trend, consider pet services-pooper scoopers, for instance
to do the dirty work that many pet owners would rather pay someone else to do.
    And just as mom buy top-notch products for their children, many pet owners are all about luxury for their precious pets. If it's high-end or a treat, pet parents will want it. That's what Janet McCulley, 39 and Georgia Goldberg, 44 found when they started Muttropolis, a chain of upscale pet boutiques based in Solana Beach, California. Jane McCulley, a proud pet parent herself she wasn't alone in wanting to pamper her dogs Lulu, Spia and Zoltan, knew
she wasn't alone in wanting to pamper her dogs. She researched the market and opened the doors to her first store in 2002; four more locations and online store (muttropolis.com) have followed.
    McCulley describes the business as "retail meets the dog park." Aside from offering upscale products such as Swarovski crystal dog collars and eco-friendly chew toys, McCulley designed special fixtures in her stores to appeal to the discerning pet lover. Photographic tiles on the ground look like grass, a fountain in the center is full of dog toys, and tree graphics on the wall complete the look.
    Winning the "Hottest Retail Concept of 2006" award from the International Council of Shopping Centers was a coup, but it's at the monthly Mutt Meet-Up events, where owners bring in their pet for fun and mingling, that McCulley sees the fruits of her success. "We have crated a brand that resonates emotionally with the pet parent," she says. With 2007 sales projected at more than $4.5 million and plans to open 150 more locations within the next five years, Muttropolis is sure to become a household name among the two-and four legged alike.

Comments: