Pet Supplies Plus franchise unit economics
Pet Supplies Plus franchisees run neighbourhood pet retail stores selling food, supplies, grooming and live animals. The 385 stores reporting for 2025 averaged $2,622,279 of gross sales. What is left after the cost of stock falls from 41.9% in year one to 36.9% after four years. Rent and wages fall 11.9 points over the same period. So a mature store sells more at a thinner markup and keeps a great deal more of it.
- Primary source
- PSP Franchise Operations SPV, LLC, 2026 Franchise Disclosure Document
- Items read
- Items 5 and 6 for fees; Item 7 for cost to open; Item 19 for sales and any profit figure; Item 20 for the location count
- Population
- 385 of 498 locations
- Our calculations
- Marked on the page with an asterisk. Method
- Last reviewed
- 26 September 2026
Disclosure-based. Not a forecast, not an offer to sell a franchise, and not advice.
The average store sells $2,622,279 and keeps 37.8% of that after the cost of its stock. What is left after stock falls five points as a store ages, from 41.9% in year one to 36.9% after four. Rent and wages together fall 11.9 points. A mature store sells more at a thinner markup, and the trade is worth 6.9 points of revenue.
- Gross profit falls five points as a store matures. 41.9% in year one against 36.9% past four years, worth $131,114 a year at the average store *, and the opposite direction from what most people expect buying scale.
- Rent and labor fall 11.9 points across the same span, so maturity wins on balance. 31.9% of sales in year one against 20.0% past four years, leaving 10.0% and 16.9% after those three lines *, $160,934 against $477,125, or 2.96 times the money on 1.75 times the sales.
- Advertising costs more than the royalty at every store under $2,857,143 of sales. A 3% royalty against a 3.5% advertising requirement, which is $78,668 and $91,780 at the average store *, and the requirement has a $100,000 annual cap that starts working in the brand’s favor only above that sales line.
- The highest-selling stores bills 7.85 times the lowest-selling stores. $6,892,719 against $877,561 *, across 385 stores whose median sits at 94.9% of the mean, a tighter middle than that extreme suggests.
- Opening costs a fifth of a year’s sales at the low end. $520,250 against $2,622,279 *, rising to 0.69 times at the top. $150,000 to $260,000 of that is opening inventory, of which 75% to 90% is bought from the brand’s own distribution affiliate.
How much does a Pet Supplies Plus franchise make?
The average Pet Supplies Plus unit reported $2,622,279 of revenue in the 2026 FDD, and the median reported $2,487,454. The brand’s disclosure document discloses revenue and not profit, so what an owner keeps depends on the cost structure set out below. Fees come off the top first, at about 6.5% of sales across royalty, brand fund and the rest of the stack. Revenue is not income. Rent, wages, cost of goods and the franchise fees all come out before an owner is paid. The figures for the highest-selling and lowest-selling stores are below.
Sales by years open
$2,622,279 across 385 stores, sorted by how long they have been open.
Stores are grouped by years open, the most useful cut in retail: it separates what a store becomes from what a store starts as.
| Years open | Stores | Average | Median | Highest | Lowest | Reaching the average | Group sales * |
|---|---|---|---|---|---|---|---|
| Four or more | 291 | $2,823,225 | $2,687,352 | $6,892,719 | $1,001,947 | 43.6% | $821,558,475 |
| Three | 39 | $2,277,552 | $2,207,865 | $3,900,194 | $877,561 | 48.7% | $88,824,528 |
| Two | 37 | $1,898,015 | $1,827,653 | $3,542,443 | $929,635 | 45.9% | $70,226,555 |
| One | 18 | $1,609,336 | $1,554,132 | $2,505,107 | $1,047,882 | 50.0% | $28,968,048 |
| All 385 | 385 | $2,622,279 | $2,487,454 | $6,892,719 | $877,561 | 43.6% | $1,009,577,606 |
Every figure apart from the group sales column is as the brand reported it; that column is marked. Multiplying each group’s average by its store count.
A store past four years bills 1.75 times a first-year store. $2,823,225 against $1,609,336 *, and 291 of the 385 reporting stores sit in that mature group, so the all-store average is close to the mature one.
Weekly, the same shape: $30,949 in year one against $54,293 past four. The highest weekly sales in the system are $132,552 and the lowest are $16,876 *. The lowest store takes in a week what the highest takes in a day and a half.
Roughly 44% of stores clear their own group average in every group. 50.0%, 45.9%, 48.7% and 43.6% by years open, so the distribution keeps the same shape as a store matures, and the average stays an upper-middle result.
Top performers
What separates the top Pet Supplies Plus performers
Pet Supplies Plus splits its locations into groups instead of publishing one average. The best group averaged $2,823,225 a year. The worst averaged $1,609,336. Both run the same brand, on the same agreement, paying the same fees. The middle location sold $2,487,454. The average was $2,622,279. More than half the system is below the number the brand quotes.
Decided before you open
- Trade area and site.A 1.8× gap between bands is not an operating gap. Catchment, daytime population and what sits next door set the ceiling before the first customer arrives.
- What you spend to open.Opening costs $520,250 to $1,818,900, a 3.5× range inside one brand. The high end usually buys more capacity, so the cheapest build is not always the cheapest route to the top band.
- Lease economics.Occupancy cost ran 7.0% of sales in this filing. The rent does not fall when sales do, so the same lease is a far heavier line at the bottom of the system than at the top. That is how a weak site compounds into a weak profit line.
Live operating levers
- Cost of what you sell.Products and materials take 62.2% of sales. Buying terms, price discipline and waste are where this is won, and each of them compounds at volume.
- Occupancy, the line that does not flex.Rent and building costs take 7.0% of sales here. Sales per square foot and the hours the space is earning are the only two ways to move it, because the rent itself is fixed at signing.
- Pets served, the operating driver.This model bills on pets served. The owner counts how many pets come through in a day and how many come back within the month. It is worth watching every week, because by the time it turns up in a monthly close the quarter is half gone.
- Membership and rebooking.A recurring plan turns a high-fixed-cost business from an appointment book into a subscription, which smooths the utilisation that drives the wage line. Rebooking before the customer leaves is what builds it, not marketing spend afterwards.
- Service and retail mix.Attachment rate on retail, and the share of customers on the higher service tiers, lift what each hour earns without adding an hour or a room. It is the only lever that raises the ceiling without spending capital.
- Fees, and where the minimum bites.Fees run about 6.5% of sales. A minimum sits underneath the percentage, so the low-volume location pays the higher effective rate. The brand charges the weakest locations the most. Work out the sales level where the percentage overtakes the minimum and know which side of it you are on, because the answer changes what an extra dollar of sales is worth.
- The first year.This filing shows how a new location builds up, so the ramp can be underwritten from the document rather than assumed. Read two things out of it: the month sales cross the point where costs are covered, and how much cash you fund before that month arrives. Everything before break-even is paid for by you.
Context you underwrite around
- The reporting screen.385 of 498 locations are behind these figures. Locations open less than the full year, brand-owned, or not meeting the reporting criteria are excluded, so the numbers describe locations that cleared that screen, not the system as a whole.
- What the disclosure leaves out.Item 19 publishes no profit or cost data for franchised locations. The brand’s own locations are the only margin signal in the document, and they are run by the people who wrote the playbook.
Share kept, rent and wages
What is left after stock falls, and rent and wages fall further.
Three cost lines by years open, with the profit figure left out. Those three lines are enough to work out what each store contributes.
| Years open | Stores | gross profit | Rent | Labor | Rent and labor together * | Left after all three * | In dollars * |
|---|---|---|---|---|---|---|---|
| One | 18 | 41.9% | 9.9% | 22.0% | 31.9% | 10.0% | $160,934 |
| Two | 37 | 40.0% | 9.7% | 17.4% | 27.1% | 12.9% | $244,844 |
| Three | 39 | 40.2% | 7.8% | 18.2% | 26.0% | 14.2% | $323,412 |
| Four or more | 291 | 36.9% | 6.6% | 13.4% | 20.0% | 16.9% | $477,125 |
| All 385 | 385 | 37.8% | 7.0% | 14.4% | 21.4% | 16.4% | $430,054 |
The brand reported the stock, rent and wage columns. We worked out the last three.
A mature store keeps 2.96 times the money on 1.75 times the sales. $477,125 against $160,934 *. The gap is the whole case for holding a store through its early years.
Labor is the line that moves most, falling 8.6 points. Wages take 22.0% of sales in year one and 13.4% after four years *. In dollars that is $353,724 against $379,519. The older store spends 7.3% more on people and sells 75% more.
Rent in dollars changes littlewhile its share falls by a third. $159,052 in year one against $187,065 past four, or 9.9% against 6.6% *. The lease is close to fixed, so the percentage is a revenue statement.
Margins run 27.6% to 56.5% store to store. A 28.9-point difference *, worth $757,839 at the average store's sales. What each store chooses to stock sets it.
Opening a store
$520,250 to open, and the first third of it is stock.
| Line | Low | High | Share of the low column * |
|---|---|---|---|
| Equipment | $187,200 | $251,700 | 35.98% |
| Opening inventory | $150,000 | $260,000 | 28.83% |
| Initial franchise fee | $49,900 | $49,900 | 9.59% |
| Additional funds, six months | $40,000 | $300,000 | 7.69% |
| Grand opening advertising | $30,000 | $30,000 | 5.77% |
| Building work | $25,000 | $825,000 | 4.81% |
| Set-up fee | $15,000 | $15,000 | 2.88% |
| Pre-opening labor | $10,000 | $35,000 | 1.92% |
| Training | $4,000 | $8,000 | 0.77% |
| Legal and accounting | $4,000 | $10,000 | 0.77% |
| Point of sale installation | $3,150 | $3,300 | 0.61% |
| Insurance | $2,000 | $7,000 | 0.38% |
| Prepaid rent and security deposit | $0 | $24,000 | 0.00% |
| Total | $520,250 | $1,818,900 | 100% |
Amounts are as the brand reported it and the share column is marked *; both columns add to their stated totals to the dollar.
The build is a fifth of a year’s sales at the low end and 0.69 times at the high. $520,250 to $1,818,900 to open, against $2,622,279 of sales *. The landlord often pays for the fit-out.
Building work ranges by $800,000, more than every other line put together. $25,000 against $825,000 *. That is 61.7% of the gap between the low and high opening estimates.
Stock and equipment together are 64.8% of the low column. $337,200 of the $520,250 low estimate *. Two thirds of the money buys things that stay in the building.
Fees and the system
A 3% royalty, and an advertising line that costs more.
The royalty here is among the lowest in this library: 2% of monthly gross sales for the first twelve months, then 3%. The advertising requirement is larger, and its cap is where the arithmetic turns.
| Store | Gross sales | Royalty at 3% | Advertising | Together | Share of sales * |
|---|---|---|---|---|---|
| The highest-selling store | $6,892,719 | $206,782 | $100,000 | $306,782 | 4.45% |
| Four or more years, the average | $2,823,225 | $84,697 | $98,813 | $183,510 | 6.50% |
| All 385, the average | $2,622,279 | $78,668 | $91,780 | $170,448 | 6.50% |
| All 385, the median | $2,487,454 | $74,624 | $87,061 | $161,685 | 6.50% |
| One year, the average | $1,609,336 | $48,280 | $56,327 | $104,607 | 6.50% |
| The lowest-selling store | $877,561 | $26,327 | $30,715 | $57,042 | 6.50% |
The rates and the sales figures are as the brand reported it. Every dollar amount and the share column are marked *. Each row’s two components add to its total.
Advertising is 116.7% of the royalty at the average store. $91,780 against $78,668 *, so the number to negotiate and the number to watch are different numbers here.
The all-in 6.50% takes two fifths of the contribution line. $170,448 against the $430,054 left after stock, rent and wages at the average store, which is 39.6% *. Two thirds of that is advertising the brand directs.
A system that peaked in 2024.
| Year | Franchised at start | Franchised at end | Change | Company-owned at end | Total at end | Franchised share * |
|---|---|---|---|---|---|---|
| 2023 | 429 | 485 | +56 | 234 | 719 | 67.5% |
| 2024 | 485 | 502 | +17 | 233 | 735 | 68.3% |
| 2025 | 502 | 498 | −4 | 231 | 729 | 68.3% |
Every column apart from the franchised share is as the brand reported it.
The system added 69 franchised stores in three years and gave 4 back in the last one. 429 to 498 *, the shape of a brand that has finished its build-out phase.
Thirty-seven stores changed hands or closed in one year. 23 stores changed hands, 6 went back to the brand and 8 closed, against 502 at the start of the year *. That is 7.4% of the owner-run system, and all 37 sit outside the figures above.
Questions we get asked
Questions owners ask.
What does a Pet Supplies Plus store bill?
The 385 stores reporting for 2025 averaged $2,622,279 with a median of $2,487,454, ranging from $877,561 to $6,892,719. By years open the averages run $1,609,336 in year one, $1,898,015 in year two, $2,277,552 in year three and $2,823,225 past four years.
What margin should a store run?
37.8% across all 385 stores, and it falls with years open: 41.9% in year one against 36.9% past four years. Store by store it runs 27.6% to 56.5%. What each store chooses to stock sets most of that.
What does rent and labor cost?
Rent averages 7.0% of sales and labor 14.4% across the group. Both fall sharply with years open, rent from 9.9% to 6.6% and labor from 22.0% to 13.4%. The dollar amounts barely move, so the percentages are describing sales growth.
What does the brand take?
A royalty of 2% of sales for the first twelve months and 3% after that. Advertising must be 3.5% of sales or $8,333 a month, whichever is lower. That is 6.50% all in at any store under $2,857,143 of sales, falling above it as the cap binds. Flat charges add roughly $24,000 a year: technology up to $1,500 a month, point of sale leasing $295 to $431, and grooming software $1,620 a year.
What does it cost to open?
$520,250 to $1,818,900, of which $187,200 to $251,700 is equipment and $150,000 to $260,000 is opening inventory. Between 75% and 90% of that inventory comes from the brand’s own distribution affiliate. The franchise fee is $49,900 for a first store and $35,000 for each one after.
How long does a store take to get to full strength?
On these figures, past four years. A first-year store bills 57.0% of what a mature one does and keeps 10.0% of sales after cost of goods, rent and labor against 16.9%. So the money grows roughly three times while the sales grow 1.75 times.
- No profit figure. The filing reports sales and not earnings, so what an owner keeps is not disclosed.
Questions worth putting to Pet Supplies Plus
The filing answers what it answers. These are the gaps an owner or a buyer should close directly.
- What do locations at the median spend on wages and rent as a share of sales? The filing reports sales only.
- What separates the highest-selling locations from the lowest: trade area, years open, size, or the owner?
- How long does a new location take to reach the average you publish, and what does the build-up look like month by month?
- At what level of sales do the minimum charges stop applying and the percentage take over?
- How many Pet Supplies Plus locations closed, were sold, or changed hands last year, and why?
Run your own numbers.
The Franchise Finance Diagnostic runs the same checks on your own numbers. It scores where you stand and compares you with Item 19 of your brand’s FDD. It works out what one location earns and spends, and builds a 13-week cash forecast. Checks whether you are ready to open another one. It is free and it runs in your browser.
Launch the diagnostic →Which way is your gross profit moving?
A structured review of your unit economics, cash forecast. Reporting, built around margin against the 37.8% benchmark, labor against 14.4%, rent against 7.0%, and the contribution line underneath all three.
Request the reviewthe franchise library, all 243 brands · how franchise unit economics work · running the books across several locations · what Averan does for franchise owners
Pet Supplies Plus reads against the rest of the grooming and pet retail group: Aussie Pet Mobile · EarthWise Pet · Scenthound · Wag N Wash · Woof Gang Bakery · Zoomin Groomin. The grooming and pet retail guide compares all of them on the same figures.
Questions owners ask next
The figures above raise these, and each one is answered on its own page.
- At what level of sales does a minimum fee stop costing me more than the percentage?How royalty, ad fund and minimums actually work on a monthly statement.
- How much cash do I fund before a new location covers its own costs?A 13-week forecast for the months before break-even.
- My payroll percentage keeps climbing. Is that a payroll problem?Usually it is a revenue problem wearing a payroll costume.
- At what point do spreadsheets stop coping?What changes at around ten units, and why lenders care.
- I run several locations. Which ones actually make money?Location-level contribution, and what it takes to see it.