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