Expect Spending on Pets to Increase
Demand for pet care products and services is expected to rise in the coming decade. In their recent article, Bloomberg reported that dog walkers will be in higher demand than teachers, a claim based on a new consumer trends report from The Conference Board.
The report projects that spending in certain categories, including pets, will strongly increase. And dog walking, is of course, part of the pet industry.
You have Baby Boomers to thank for this news. The Bloomberg article puts the onus for pet industry growth on the nation’s aging population, who they speculate may be “. . . pining for children who have flown the coop” and will now “. . .shower their attention and money on new-found furry friends.”
This trend is confirmed by the U.S. Bureau of Labor Statistics, who reports that despite recent economic downturns, people consistently purchased for their pets. Between 2007 and 2011, spending on our animal companions – including veterinary services, food, supplies, and pet services – pretty much stayed the same.
The future for people interested in the pet service and product industries looks even brighter. The BLS projects the job outlook for the animal care and service industry to grow by 11 percent between 2014 and 2024, which is considered a faster-than-average rate.
Whether you’re looking for a job in the industry or have thought about releasing your entrepreneurial spirit, this is good news for you. Keep in mind that trends can change, and other variables like competition should also be factored in.
A few suggested resources:
• IAP College offers a series of books and courses for those interested in starting pet-related businesses. Each book provides a thorough look at the business, and discusses a wide range of important topics to help you succeed. IAP also offers self-paced pet courses – each course includes the book and a diploma for successfully completing the course.
Their books & courses include Become a Dog Daycare Owner, Become a Dog Walker, Become a Pet Hotel Owner, Become a Pet Sitter, and Become a Pet Spa Owner. (I have test-driven IAP’s courses, but note that these are affiliate links.)
• Do free searches for pet- and animal-related jobs on this site.