Historically, Americans have not owned as many pets as they do today. Therefore, dog walking companies are in high demand for their services in this lucrative business. From taking the dogs on their daily walks, to playing with them and feeding them, dog walking companies are a boon for those who wish to avail of their services due to lack of time or feasibility. Entrepreneurs looking to enter the industry need to learn about the financial elements of the business. Continue reading to learn how much do dog walking companies make.
Revenue Varies Based On State
A dog walking company’s revenue depends on the state it operates in. Dog walking companies schedule and find jobs for individual dog walkers. If it is a big city like New York, there is high potential for making as much as $800 in a week for dog walking. The companies get their share for having arranged the meeting. However, smaller towns and suburban areas make fewer dollars, depending on how many dogs are walked and for how much time during a day. Keep this in mind as you consider the profitability of starting your own dog walking company.
Earnings Depend On Company Age
Another factor to keep in mind is company age. Typically, companies that have been walking dogs for years earn more capital. During the startup stage, businesses typically spend more than they make. Dog walking companies are getting more sophisticated by the day. Thus, startup requirements and costs are rising. An average, well-performing dog walking company makes about six-figure revenue per year. As it expands, the company needs more employees and a space to work from. Therefore, these are factored into the revenue as well.
Dog Walker Experience Counts
Like any other job, the experience level of the dog walker is taken into consideration while payments are made. Dog walkers with less than a year’s experience make $13 per hour on an average. This figure increases to $15 per hour for individual, experienced dog walkers. However, as mentioned earlier, average hourly pays vary based on cities and states. Entrepreneurs entering the dog walking industry need to factor employee wages into their financial plans.
Thoughtful Marketing Increases Revenue
The key to any company’s success is effective marketing. Dog walking companies are no exception. The best way to reach your audience is through media coverage. Letting your potential clientele know the full range of your dog walking services, how it tends to be different from competitors, and assuring them of their pet safety is an important way in staying at the top of the business. You can do so through flyers, social media, etc. Review the best advertising for small business strategies to reach your financial goals. Ultimately, your marketing strategy will depend on your budget. Conversely, your future budget depends heavily on your marketing strategy.
Inconsistency In Income
It is also important to consider the fact that dog walking may not be an all year round business. Dog walking companies usually face inconsistencies in income. Again, based on where you are located, the climate may affect when the business may need to slow down. With a company, it is always more secure than when someone is dog walking individually. However, the company as a whole may go through ups and downs depending on the climate and location. Use this information to plan out your dog walking financial plan properly.
Now is the best time for dog walking companies to thrive. With an enormous increase in pet ownership, the company is in demand and is making more money than ever. However, the revenue depends on various factors like the state, the growth of the company, and the kind of marketing strategy they apply. The most profitable dog walking companies have been in business for several years. Thus, it may be a good idea to consider buying an existing business. For those beginning or wanting to go up the ladder in dog walking business, it would help to factor in these criteria.