How Much Money Can Your Pet Licensing Program Make?
With an average of just 13% of pet owners licensing their pets, we all know that there is a lot of revenue being left on the table - revenue that is critical to providing crucial animal welfare services to your community.
How much revenue is being missed? It depends on how you look at it. We can look at all the averages across North America, and get a good idea of the current state of affairs. We can also look at an ideal scenario, in which our recommended best practices are put in place.
Total Pet Licensing Revenue Opportunity (Market Size)
It is estimated that there are some 95.6 million dogs and 103.5 million cats in North America. Approximately 90% of jurisdictions require that pets be licensed. Of these, about 50% require that both cats and dogs be licensed. This means that there are about 86 million licenseable dogs, and 46.6 million licensable cats in North America.
The average license rate for a pet in North America is $13/year. This means the current market size across the continent is a staggering $1.724 Billion. At 13% compliance, we are collectively gathering just $224 Million of this. The below graph shows what revenue could look like for Pet Licensing Organizations if they were to reach 20%, or even 50% compliance across North America.
Optimized Pet Licensing Revenue Opportunity
Taking the above population numbers, considering DocuPet’s recommendation to license both cats and dogs in all jurisdictions, and using the insight from our Annual Pet Licensing Industry Report that higher license prices do not result in lower compliance, we believe the total market potential to be:
- 199.1 Million Pets x $20/license/year = $3.982 Billion
That’s an average of $11 per person.
Quick math: take the population of your community and multiply it by $11. This is what you could be earning if you license dogs and cats at $20/year on average.
Calculating Your Community’s Revenue Opportunity
Want a more accurate calculation of the revenue potential in your community? Follow these simple steps:
Like that number? DocuPet specializes in increasing pet license sales while simultaneously increasing services offered for pet owners and the community, and decreasing costs, labor and associated risks. We’d love to help you get the financial results your community deserves.
Request a demonstration anytime to discuss your program and how we might help.
Ready to Boost Compliance?
Learn more about how DocuPet can boost your annual compliance rate by more than 100% each year.