Pet Startup Markets On The Rise According to Recent Reports
A few years ago, pet startups had a very little share of the current startup market. However, in the past few years, these pet-related startups are becoming increasingly popular. While there is no denying that pet startups may still be in a niche industry, it is clear that these startups are starting to make an impact on the market today. It is also clear that there are plenty of opportunities for entrepreneurs in today’s market to find some success within this realm, not only as pet companies in general take off but as more and more of these pet companies start to find their way online.
One shining example of what a pet startup can or can not be in today’s market can be seen with the startup Pets.com. This web-based e-commerce company infamously went from a Nasdaq IPO to being completely liquidated in a span of just nine months. While this story doesn’t exactly provide a great deal of hope for pet startups, it has taught a number of startup companies looking to enter today’s startup pet market what to do and what not to do. Many have already deducted that the primary issue with Pets.com was that they spent $11.8 million, including $1.2 million on a Super Bowl ad with revenues that were coming in around $619,000.
With the Pets.com mistakes in mind, there is still hope for those who want to launch their own pet-centered e-commerce business. This can be seen in some of the many successful startups that have already hit the market, many of which are looking to provide a type of Birchbox for dogs and other pets. Already a few different companies such as Barkbox and Lucky Dog are already adapting this model for their latest venture. These companies will be offering a monthly box of goodies to the millions of pet owners across the globe that are looking to pamper their pets.
This isn’t the only model that these pet startups are embracing either. Another pet related startup to hit the market is a service known as Pintofeed, a company that is currently using crowd-sourcing funds to help bring new remote pet-feeders to the market. Another approach to pet startups that companies are taking can be seen with DogVacay. This company is taking the Airbnb company model and applying it to pets as it attempts to find boarding solutions for dogs looking to stay in real homes. Swifto is also helping busy pet owners take care of their pooches as it has launched a service that can pair dog owners with screened pet walkers. Swifto even offers real time GPS tracking and picture updates so owners can make sure their dogs are in good hands.
These are just a few of the many programs and companies that are hitting the market and looking to take advantage of the more than 80 million pet owners who live in the US alone and who are looking to make sure their pets are getting the best care, attention and services possible.