Pet care is undergoing significant changes as costs rise and innovative solutions emerge. Veterinary bills have jumped 40% in recent years, leaving pet owners facing shocking expenses, according to the BBC. In response to these rising costs and the unique financial challenges of pet care, companies are developing new approaches to help owners manage expenses, and some individuals are even finding alternative career paths within the pet industry.
The increasing cost of veterinary care is a growing concern for pet owners. Helene Svinos, a pet owner interviewed by the BBC, had to borrow £1,600 to cover her dog's treatment after the costs exceeded her insurance policy. This situation highlights why the Department for Environment, Food & Rural Affairs in the UK is considering requiring veterinary practices to publish prices for common treatments and obtain official operating licenses to improve standards, according to the BBC.
One company aiming to address the financial challenges of pet care is Snout, a pet wellness plan provider. Founded in 2023 by Emily Dong, who previously founded Pawprint, Snout recently raised $110 million in debt and equity, according to Fortune. Dong identified a key problem in the pet care industry: the reliance on cash or credit at the time of service, with limited billing and insurance options. "In pet care," Dong said, "there's limited billing and insurance backstop." Snout aims to provide a "membership" model to help defray these costs.
The rise in pet ownership is also fueling the growth of the pet care industry. According to the American Pet Products Association, approximately 70% of U.S. households have at least one pet, while only about 40% of homes include a child younger than 18, according to Fortune. "Pets have become family, and we're absolutely going to continue moving in that direction," said Emily Dong, CEO of Snout, according to Fortune.
Beyond traditional veterinary care and wellness plans, some individuals are finding alternative ways to earn income within the pet industry. Georgina Welsh, a millennial who quit her corporate job in PR, now works as a pet sitter, living rent-free and saving thousands of dollars a month while earning $70 per day, according to Fortune. Welsh began pet sitting casually in 2024 as a way to travel cheaply around the UK and discovered that she could maintain a similar disposable income to her corporate job while working fewer hours.
While the pet industry is experiencing growth and innovation, another study published in Nature News suggests that pet owners should be mindful of their own health. Researchers are finding that exercising a little and often could reduce chances of death from all causes and protect against conditions like coronary heart disease.
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