Low Investment, High Returns: The Financial Upside of Hike Doggie Ownership
With over 4,000 different franchise concepts in the marketplace today, it’s a near certainty that there’s a business out there for everyone. But with this level of competition, it takes a great value proposition and enough key differentiators to separate a franchise opportunity from its direct competitors.
What makes Hike Doggie so special?
We break it down into two key factors: 1) low barrier to entry, and 2) recurring revenue through a high value membership model. In essence, what Hike Doggie offers is a low investment, but with a high potential for return on that investment.
In this edition of the Hike Doggie Bloggie (sorry, couldn’t resist), we take a deeper dive into these factors and offer empirical evidence to back up our claim. Keep reading if you’d like to find out more about what could be your next career move, in which your primary mission is a simple one – to make dogs as happy as they make us.
Our Trail Essentials
Here at Hike Doggie, we pride ourselves on being transparent, open, and honest about what it takes to become a franchisee in our network of dog-obsessed parents. This begins with our overall cost, which is based on a single territory investment. The financial range in question is $138,831 – $251,744, which puts Hike Doggie among the more affordable franchise opportunities in the marketplace – to say nothing of our competitors in the pet care space. As for the additional financial requirements, potential Hike Doggie franchise owners must have a net worth of $250K, of which $100K is liquid capital. Calculating your net worth is a fairly simple exercise – you simply add up the assets you own (cash, home, real estate, retirement accounts, and investments) and subtract what you owe (mortgage, credit card debt, student and/or auto loans). If you need a cheat sheet, we found this online tool, courtesy of the Dave Ramsey Corporation (and he knows a thing or two about personal finances). The amount you arrive at is your net worth. To put everything in perspective about the low barrier to entry Hike Doggie offers, the average franchise business ends up costing $150,000, according to research and data compiled by Franchise Business Review, a leading industry analyst for franchise brands
Our Recurring Revenue Model
What’s so great about having a business model predicated on recurring revenue? Simply put, it offers owners a steady and predictable income, which is perfect for forecasting success, reaching the breakeven point, and attaining profitability. With Hike Doggie, revenue is calculated and forecasted on a weekly basis, which is based on our regularly scheduled dog hiking service. This is why our business model is an attractive option for entrepreneurial-minded candidates. It offers them the opportunity to build quick conversions, comes with a strong retention rate, and gives owners the chance to build raving fans within their own community. Oh, and did we happen to mention that 91% of Hike Doggie’s corporate revenue was recurring in 2022? It’s really not surprising when you consider the current market analysis for pet care in the U.S. Quite frankly, it’s booming. Because here in America, we consider our pets part of the family, not extensions of one. And when your fur baby is part of the family, you have no problem with paying for premium services like Hike Doggie.
Among our ideal candidates, some have always wanted to own a business of their own so they can take charge of their destiny and do what they were meant to do. Others have contemplated a career transition and are just looking for that spark to make a connection with something they’re passionate about. Whomever you identify with, we have the answer you’re looking for in Hike Doggie. It’s really a simple proposition when you think about it:
Our target audience of dog parents values the health and happiness of their pets, seeking trustworthy, professional services that provide enriching experiences for them. They’re motivated by the assurance of having their pets in safe and experienced hands, receiving the physical exercise and mental stimulation they crave. Consequently, Hike Doggie offers a professional dog hiking service that ensure their pet’s well-being through enriching outdoor adventures. Our experienced franchise owners provide personalized care, giving dogs the exercise and mental stimulation they need.
No matter where you come from, that’s known as a win-win proposition. Every time.
About Hike Doggie
Hike Doggie was founded in 2016 with a mission to “make dogs as happy as they make us”. The business model is predicated on providing a professional and turnkey dog hiking service. Our vision is to create unforgettable outdoor experiences for dogs, ensuring their physical and emotional well-being while fostering a deep bond between them and their human families. Hike Doggie offers a low barrier to entry, quick conversion, and strong retention rates – not to mention extremely happy clients. To date, Hike Doggie has participated in over 50,000 dog hikes and we’d like to have you help us add to that total. Hit the trail to success and explore franchise ownership with Hike Doggie by reaching out to our franchise development specialists at Franchise Evolution Partners to begin your personal journey. Be sure to read our blog, follow us on Instagram, connect with us on LinkedIn, and watch our collection of videos on TikTok.