Pet Supplies Plus Reduces Royalty Fee to 2 Percent for First Year, 3 Percent for Life of Agreement
Nation’s Largest Pet Retail Franchise Announces Additional Incentives for Continued Growth
May 13, 2015 // Franchising.com // LIVONIA, Mich. – Pet Supplies Plus, the nation’s largest pet retail franchise with more than 300 locations in 25 states, is announcing a reduction of royalty fees from 4 percent to 2 percent for the first 12 months of a new franchise agreement. Following a franchisee’s first year, the royalty fee will remain at 3 percent for the life of the franchise agreement.
“Reducing a royalty fee to 3 percent is almost unheard of in the industry, but we’re not afraid to break an unwritten rule if it will benefit our franchisees at each step of their growth. We see it as a win-win when our franchisees are happy and we can continue to grow our system,” said Chris Rowland, Pet Supplies Plus CEO.
The franchise has accelerated unit growth in 2015, in which executives have already signed agreements for seven new locations and will mark the entrance into the state of Colorado. The new Denver location is part of an overall growth strategy to open 10 Pet Supplies Plus stores in the market over five years.
For continued expansion, Pet Supplies Plus is also currently seeking qualified single and multi-unit owners in Atlanta, Houston, Memphis, Minneapolis, Nashville, Raleigh, St. Louis and Tampa. Investments range from $300,000 to $885,000.
Pet Supplies Plus also recently announced an affiliation with Franchise America Finance that will make $15 million available to qualified franchise candidates. The full service commercial franchise finance firm will work with qualified Pet Supplies Plus franchise candidates, as well as current franchise owners who are pursuing expansion, to offer a comprehensive solution for financing through a lending program created specifically for the pet supply retailer.
“The program with FAF and the recent reduction in royalty fees will help qualified candidates get their stores open quicker, but the franchise support system at Pet Supplies Plus will make sure franchisees are also growing the right way for sustained success,” added Rowland.
For more information about Pet Supplies Plus franchising opportunities, visit petsuppliesplus.com/franchise or contact Steve Olson at (734) 793-6532. Executives with Pet Supplies Plus will also be exhibiting at booth 451 during the 2015 International Franchise Expo (IFE), set to take place June 18-20 at the Javits Center in New York City.
About Pet Supplies Plus
With more than 300 locations in 25 Eastern states, Pet Supplies Plus has earned the reputation as America’s Favorite Neighborhood Pet Store by offering a wide array of pet food, pet products, grooming services and animal expertise in a welcoming environment. With a friendly, pet-centered culture, where store managers and associates actually know the names of hundreds of their pet customers and their pet parents, each Pet Supplies Plus is large enough to house a broad selection of food and equipment, yet small enough to still feel neighborly. The company, headquartered in Livonia, MI., has earned its success by understanding the unique bond between humans and their pets. Pet Supplies Plus is ranked in Entrepreneur magazine’s 2015 Annual Franchise 500® list as the Top Full-Service Pet Supplies Franchise for its exceptional performance in areas including financial strength and stability, growth rate, and system size. For more information about Pet Supplies Plus, please visit www.petsuppliesplus.com/franchise.
SOURCE Pet Supplies Plus
Fishman Public Relations