Pet Supplies Plus, an independent retailer with nearly 600 locations in 38 states, is on pace to sign franchise agreements for 100 stores by the end of 2021, company officials reported.
The company has signed 97 new store commitments year-to-date for 2021. In September, officials reported that the company had signed 69 new franchise agreements.
“Entrepreneurs are going all-in to join the pet retail category,” said Chris Rowland, CEO of Pet Supplies Plus, which is headquartered in Livonia, Mich. “We provide new and existing owners a full support team and franchise model designed to meet all of their purchasing, marketing, and supply chain needs as well as e-commerce capabilities, delivery from store, an Autoship subscription program and enhanced reward program. Our model allows investors the opportunity to work for themselves in one of the hottest industries, while receiving the support of an experienced, successful franchisor.”
In addition to the brand’s steadfast development pipeline, the company recently earned an 820 FUND score through FRANdata, a scoring report to predict the future performance of a franchise system that is publicly available information, officials reported. FUND REPORTS provide an efficient way to help assess a bank’s franchise portfolio as a separate asset class based on the franchise brand creditworthiness.
FUND, the franchise credit score, and uses 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.
Pet Supplies Plus is at the top 5.6 percent of all franchise concepts that work with FRANdata, an independent research company supplying information and analysis for the franchising sector since 1989.