Thursday, March 12, 2009

The Niche that is Recession-Proof

It seems that even though Americans are skimming on other luxuries, Fiffy and Fido are still getting the royal treatment.  In 2008 alone American's spent 43.2 billion according to the American Pet Products Association, those little endulgences for the furry family member are still holding strong.

What does this mean? Well for you the startup or the one waiting to leap it means that the endulgence pet business is still growing and doing pretty well.  A New York deluxe boutique called the Le Chien recently was quoted saying, "People are not exactly buying the mink throws or alligator collars, but they are still coming for the grooming every week and the toys," said Edward Alava, who has been a manager at the shop for more than a decade". Grooming at Le Chien starts at $125 and most patrons add on services like hot oil skin treatments and teeth-cleaning. According to an article in the Daily News | Money.

----> Don't Chase Your Tail Action Point: So to take action on this market you need to do a few things right now!  Research--> Is there a market in your city or neighborhood for luxury spa pet services? Look through your yellow pages and see.  If so go and check them out, see what services they offer and at what price? Can you do it, or do it better, cheaper, or faster, or with better pet-customer service?  What about their product offerings, can you find some unique items they don't carry?  Or maybe you could capitilize on something their missing.  These are things you can do TODAY to get started.  

Remember your new life and the freedom it brings will not be handed over to you, ya gotta work for it! 

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