Pet Supplies Plus & Wag N' Wash on Track to End the Year with Impressive 115+ New Store Agreements in Development
LIVONIA, Mich., Dec. 20, 2022 /PRNewswire/ -- Pet Supplies Plus, the largest independent pet franchise in North America with over 640 stores in 41 states, and Wag N' Wash, the emerging self-wash, grooming and natural pet food franchise, have collectively signed 115-plus franchise agreements year to date.
The secured franchise commitments for Pet Supplies Plus include a 50/50 mix of existing owners who realize the recession-resilient value of this franchise and brand-new franchisees who are attracted by the simplified retail model and consistent growth. The companies also welcomed the first dual-branded multi-unit agreement, which will be for two Pet Supplies Plus stores and one Wag N' Wash location.
"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, CEO of Pet Supplies Plus 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."
Lenders are also adamant on financial transparency. Pet Supplies Plus earned a 900 FUND score through FRANdata, placing it in the top 5 of all franchise concepts analyzed. The FUND score is a proprietary scoring model, with a possible 950 points associated, to evaluate 13 credit risk and performance categories of a franchise brand that influence unit level performance. It uses lender-defined credit risk categories with associated methodologies and algorithms to analyze franchise systems.
While separate entities, the two franchises share the same proven infrastructure of back-end support including billion-dollar buying power, advanced marketing initiatives and supply-chain efficiencies. In addition, franchise owners not only benefit from being a part of the ever-growing pet retail industry with $120+ billion in sales in '22 alone but also from interacting with their neighbors and their pets to deliver the best high-touch, local pet service and retail experience.
"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," added Rowland. "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."
About Pet Supplies Plus
Pet Supplies Plus, a subsidiary of Franchise Group, Inc. (NASDAQ: FRG), is focused on making it easier to get better products and services for your pet. With over 640 locations in 41 states and counting, the stores have a streamlined design making it easy to navigate a wide assortment of natural pet foods, goods, and services. Additionally, www.petsuppliesplus.com provides neighbors with additional shopping options to better meet their pet-shopping needs. Headquartered in Livonia, Michigan, Pet Supplies Plus ranked No. 20 in Entrepreneur magazine's 43rd Annual Franchise 500® list as of 2022, and is ranked as the Top Full-Service Pet Supplies Franchise for the eighth year running for its exceptional performance in areas including financial strength and stability, growth rate and system size. For more information on Pet Supplies Plus franchise opportunities, visit www.petsuppliesplusfranchising.com.
About Wag N' Wash
Wag N' Wash Natural Pet Food & Grooming, a full-line dog grooming and self-wash specialty retail destination, has a mission to recognize, promote and foster the positive impact that companion pets and their humans have on each other. Wag N' Wash provides full-service grooming, self-wash facilities, baked dog treats, natural food, supplements, and toys. In 2020, Wag N' Wash was ranked on Denver Business Journal's Colorado-Based Franchisors List, Franchise Times Top 200+ List and Included on Franchise Gator's Top 100 Franchisees List for the third year. Today, there are 14 Wag N' Wash locations open across the nation. To learn more about Wag N' Wash, please visit https://www.wagnwashfranchising.com/.
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SOURCE Pet Supplies Plus
