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Woof Gang Franchise Has Amazing Returns in 2022

Written by: Parth Parth
Last Updated by Ailen Faiad: September 12, 2022
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This article is based on its 2022 FDD

Contents

Woof Gang Franchise claims to be the leading specialty retailer of pet food, pet supplies, and professional pet grooming in North America. As of the end of 2021, the company had 139 locations, all franchised.

How is Woof Gang Franchise Positioned in the Pet Care Industry?

Three of the biggest franchise contenders in the pet market are Pet Supply Plus, Camp Bow Bow and Woof Gang. However, none of them own more than 5% of the market share, resulting in a highly fragmented market. The industry brings in $8.4 billion in revenue annually, with profits of $952 million. It is expected to have an annual growth rate of 2.7% between 2022 and 2027. Woof Gang Bakery also competes in the Pet Care market against big brand companies such as Walmart, Petco, etc.

woof gang

How Much is a Woof Gang Franchise?

The initial Woof Gang Franchise Fee is $49,900. You have to pay this upfront fee when opening a Woof Gang franchise.

Woof Gang Franchise Cost

The estimated total investment necessary to begin the operation of a Woof Gang Franchise ranges from $155,300 to $280,400. The following costs are part of the upfront costs included in the initial investment for a Woof Gang. Many of these are one-time fees that are needed to launch the franchise. Review the chart below to see how much it costs to buy a Woof Gang franchise in 2022.

 Low AmountHigh AmountTo Whom Payment is to be Made
Initial Franchise Fee49,90049,900Us
Opening Start-Up Package5,0005,000Us
Travel/Expenses for Training1,2005,000Third Parties
Leasehold Improvements / Construction25,00080,000Landlord, Lender or Contractor(s) and Vendors
Rent7,50025,000Landlord
Computer and Point of Sale System2,5005,000Vendor
Equipment (Freezer, Grooming Equipment and Signage)11,00030,000Vendors
Licenses5002,000Various govemment agencies
Insurance1,5003,500Insurance Companies
Legal and Professional Fees1,2005,000Third-party professionals
Opening Inventory35,00045,000Vendors
Working Capital15,00025,000Employees, Vendors, Utilities, etc
Total155,300280,400 

Woof Gang Franchise Requirements

Woof Gang Bakery has the following criteria taken directly from its website:
A passion for people and pets
Enjoy a fast-paced and dynamic environment
Possess natural customer service skills
A willingness to follow training and operational standards
Have a genuine desire to fulfill a community need
Operate a store in your own neighborhood
Commitment to ethical business practices
$500,000 net worth / $150,000 liquidity

Ongoing Fees

Royalty: 7% of Gross Revenues
National Marketing Fee: 2% of Gross Revenues

How much do Woof Gang franchise owners make?

Average Monthly Gross Revenue

 June 1, 2021 to May 31, 2022
Average Monthly Gross Revenue$55,474
Median Monthly Gross Revenue$50,841
Number of Franchises (and Percentage) that Met or Exceed Average Monthly Gross Revenue57 (45%)
Average Total Gross Revenue for Time Period$665,693 (12 Months)
Median Total Gross Revenue for Time Period$610,089 (12 Months)
Number of Franchises (and Percentage) that Met or Exceeded Average Gross Revenue for Time Period57 (45%)

2021 Woof Gang Average Franchise Sales: $665,693

Initial Investment (midpoint)%Profit margin of average franchise salesEstimated Profits
$217,85010%$66,000
15%$100,000
20%$133,000

Based on the median sales provided by Woof Gang’s franchise locations, at an average of a 15% profit margin it will take 2.5 to 4 years to recoup your investment. This includes roughly a year to find the location, build out the site, staff your store and pass breakeven. You may not get a 15% profit margin which would elongate getting a return on your investment.

Many factors affect the sales, costs, and expenses of your Franchised Store. Such as the Franchised Store’s size, geographic location, menu mix, and competition in the marketplace. The presence of other Pet Care stores; the extent of market penetration and brand awareness that Woof Gang stores have attained in your market. Also, the quality of management and service at your Franchised Store are major factors.

woof gang

Is the Franchise Profit Worth the Franchise Cost?

To assign a valuation multiple for Woof Gang franchises, we leverage estimates from DealStats, a database of acquired private company transactions sourced from U.S. business brokers and SEC filings. We reviewed the larger franchise industry as well as selling price multiples for larger systems where more transaction data is available.

Under $5 Million Net Sales
Estimated Selling Price = Net Sales * 0.55

When you go to sell a Woof Gang franchise based on the median multiple of .55 and AUV in 2021 of $665,693, it would sell for ~$336,000. This is higher than the midpoint investment of $217,850. Not bad to net >$100,000 on the sale as well as potentially earning ~$100,000 a year while you own your Woof Gang business.


The more franchises you own, the more earning potential you have as private equity firms become interested in your business instead of individual owner-operators.


For 5+ Woof Gang locations the valuation could be as much as double the single unit valuation.

franchise specialist

Woof Gang (Franchisor) Income Statement Key Insights:

Woof Gang Bakery, Inc. Consolidated Statements of Operations Years Ended December 31, 2021, 2020 and 2019

 202120202019
Royalties$4,419,688$3,262,850$2,716,488
Retatil Sales7,09953,344233,638
Franchise Salds60,380215,813227,291
Build out Sales79,683183,220168,067
Product Sales32,95096,89674,795
Transfer of franchise, net58,82030,00037,500
Corporate marketing40,09353,49449,573
Other income41,16021,228
Total Revenue4,739,8733,916,8453,507,352
Cost of sales255,251347,960415,587
Gross profit4,484,6223,568,8853,091,765
Operating expenses   
Salaries and wages1,414,9261,029,766813,701
Comissions1,200,259697,513733,631
Rent190,967270,321401,445
Materials and supplies33,1285,2067,366
Advertising41,05978,04167,762
Travel94,93352,05879,431
Subcontract labor5,16822,44419,435
Office expense33,44681,53461,422
Insurance67,89350,95355,654
Meals and entertainment57,35536,50850,456
Utilities60,52939,25635,109
Vehicle Lease74,19362,46439,134
Repairs and maintenance11,2495,02611,773
Licenses3,3376811,100
Printing8,9943,1431,726
Depreciation and amortization24,11628,50729,866
Franchise expenses388,944390,727367,293
Professional fees68,292217,279275,828
Show and exposition86,15369,374119,290
Training2,4343,4195,159
Charitable donations24,6057,5304,139
Bank Charges2,4322,6533,958
Other operating43,03729,84211,411
Total operating expenses3,937,5393,184,2453,196,089
Income (loss) from operations547,083384,640(104,324)
    

Woof Gang is a very profitable business for the franchisor with retained earnings of $547,083 in 2021 compared to a loss of $104.324 in 2019. This is a good indication of high growth as a company overall.

Woof Gang Franchise

How many Woof Gang units have opened and closed?

System-wide Outlet Summary

Outlet typeYearOutlets at the Start of the YearOutlets at the End of the YearNet Change
Franchised20199711114
202011412413
202112413915
Company-Owned2019000
2020000
2021000
Total Outlets20199711114
202011112413
202112413915

Over the last three years, the company has been expanding. Franchised units have steadily increased. Over the last three years, franchises have opened at a rate of 14 units a year. This is an indicator that these stores are performing well. Between the start of 2019 and the end of 2021, the company grew from 97 to 139 locations which is a growth of 43%. The map below shows territories where Woof Gang already has locations. They are, however, always looking to expand.

woof gang

Conclusion

Woof Gang offers people the opportunity to be a part of a business that is not going to die anytime soon. Pet ownership has drastically increased during the pandemic, leading to a dramatic increase in the need for pet grooming and retail services.

Furthermore, during the past couple years, disposable income spending has increased, leading to more money on non-essential activities like pet grooming. Very few franchise opportunities offer a payback period of 2.5 to 4 years including the expenses for a general manager. Most franchises with a payback period under 4 years, assume the owner will be working in the business full-time.
While this may be the business for you, make sure also to check out other companies offered on Vetted Biz and in the Pet Care Industry.

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