Wednesday, February 25, 2015

You're in the right business !

If your reading this, you're probably in some way affiliated with the pet industry. Well, according to Eric Spitzngalel of Bloomberg Business, you're in the right business. With over 700 funeral homes, cremations, and cemeteries across the United States, revenue from the pet industry has reached noticeable highs. One great thing about this line of business is it isn't targeted towards one particular market.
Ed Martin Jr., Director of Hartsdale Pet Cemetery, stated, " We get everybody: Men, women, rich, poor, young, old".

Did you know ?
Pet owners spend nearly 53 billion dollars on their pets each year.

A pet owners willingness to spend generously on their pet's burial is only a piece of the pie.
According to Dana Macario of Today Money, Americans tend to spend the big bucks to shower their pets with "squeaker toys, fashionable collars, comfy beds, and even gourmet treats".
Talk about spoiled !

In 2011, the pet care industry brought in over $50 billion. Oddly enough, no one really knows the reason for the sudden financial boom. One of the funeral businesses that noticed a difference in revenue is Hillcrest-Flynn Pet Funeral Home and Cemetery. Hillcrest-Flynn initially started off as a human-only funeral home, but when they decided to expand in 2006 profits increased annually by roughly 25 percent. They aren't the only business who noticed a hike in revenue. Ever since Bob Walcyzk, director of two funeral business, launched Forever Friends in 2003 his sales have risen roughly 524 percent.

"Many families do not hesitate at the cost when burying their pet" - Bob Walczyk

Memorializing a pet can be much more than casket burials and cremations. Macario listed some other options that may be available at some funeral homes. These include but aren't limited to:

Small diamond made from the ashes of
a beloved pet

  • CDs
  • Ringtones
  • Freeze-drying
  • Taxidermy 
  • Jewelry diamond

These options give businesses the opportunity to offer more products and increase revenue in different areas. Also, it gives  customers a lovely experience and a gift of remembering their pet in more ways than one.

Read more about these articles by clicking the links below!

    Don't forget to leave a comment, share your thoughts ! 

    1 comment:

    1. I read an article that pointed out how much we care about our pet companions: it read something to the effect of "If you live ten years with your spouse and your pet and you had to get rid of one of them, 70% of the respondees said they would get rid of the spouse!!!!!" Joe, Pet Heaven Funeral Home, Inc