LIVONIA, MICH. — On Dec. 20, Pet Supplies Plus (PSP) and Wag N’ Wash announced that they have collectively signed more than 115 franchise agreements this year.
The franchise agreements for PSP include a combination of existing franchise owners who committed to new agreements and brand-new franchise owners. The retailer attributes this increase in agreements to its simplified retail model and continuous growth, as well as the recession-resistant value in the pet care and pet food industries.
The retailers also signed their first dual-branded multi-unit agreement in 2022 for two PSP stores and one Wag N’ Wash store.
“As pet spending continues to rise, franchise candidates are seeking to invest with our strong growth brands featuring the lowest royalty fees within the pet industry, a transparent Item 19 and best-in-class corporate support,” said Chris Rowland, chief executive officer of PSP and Wag N' Wash. “We have a unique offering of two distinguished brands and investors are taking note of the benefits both bring to an expanding portfolio.”
PSP also shared that it earned a 900 FUND score out of 950 via FRANdata, ranking the franchise in the top five of all franchise concepts analyzed. The proprietary scoring model evaluates franchises based on credit risk and performance.
Though PSP acquired Wag N’ Wash earlier this year, the retailers operate as two separate entities, leveraging the same back-end support, high buying power, marketing initiatives and supply chain.
“From our full-service, legacy brand to our up-and-coming dog wash and grooming franchise, we offer simplified business models to grow alongside the rapidly growing service category,” Rowland said. “We have the lowest royalty fees in the pet franchise industry, impressive AUVs, and provide those who seek to join the growing pet category with experienced retail and pet service franchisors who stay committed to quality services and products for pets to position us for strong growth for years to come.”
Read more about pet retail trends.