It is not uncommon for dog owners to drop off their companions at daycare while going to work or social events. Startup DogWorx is seeking funding to help its business build an all-in-one luxury and work destination for both dogs and their owners.
Leveraging Crowdfunding Investors
The pet sitting business is currently attracting new funding for his company on the WeFunder crowdfunding platform. With the help of 20 investors, the campaign for the start-up has generated more than $ 580,000 in new funding for DogWorx.
“DogWorx was created to outperform anything currently available in the dog services and wellness markets,” said Michael Lester, founder and CEO of the luxury pet grooming business. “DogWorx is the term that will be synonymous with the complete integration of all things human / dog related. There has never been a luxury destination like DogWorx.”
Funds raised from investors over the course of the campaign will help the startup continue to develop its Houston Heights location in Texas. The luxury pet sitting business expects it to cost his company approximately $ 19.2 million to fully develop its planned facilities, including the cost of acquiring land. According to the campaign page for the pet sitting startup, $ 14.2 million has already been invested in its planned destination in Houston.
The pet sitting business plans to open part of its luxury destination services in January 2022. Additional services are expected to start operating in December 2022.
A luxury destination for dogs and owners
Lester founded the start-up company in an effort to help owners maximize the time they spend with their dogs. The pet sitting business aspires to create a one-of-a-kind environment where both owners and pets have access to a host of luxurious services.
The ambitious luxury destination is expected to take in more than 67,700 square feet. DogWorx plans to offer a wide variety of services, including joint-working offices for owners, luxury dog kennels and boarding areas, a veterinary clinic and a pet spa. Additionally, the campus will also include a pet-friendly bar and cafeteria, as well as a rooftop events center.
DogWorx expects its business to produce positive net cash flow within its first year of operation. Based on initial projections, the luxury pet sitting startup plans to charge an average of around $ 70 per dog per shipment, which includes insurance fees and babysitting services.
Chasing the growing pet care industry
The pet care industry is expected to see significant growth in the coming years. Market research projects that the global pet care market will reach more than $ 255 billion by 2027. The industry was estimated to be worth $ 179.4 billion in 2020. During the forecast period, the market is expected to post a CAGR of around 5.2%.
In the long term, DogWorx aims to build facilities in several major cities in the United States. Until then, the startup will have to compete with other dog daycare providers near the Houston area, such as Houston Bark Park, Yale Street Dog House and Bakery, and Jackson’s Place Unleashed Pet Resort and Bakery.