LIVONIA, Mich.--(BUSINESS WIRE)--Pet Supplies Plus, the nation’s largest pet retail franchise with more than 300 locations in 25 Eastern states, is announcing a partnership with Franchise America Finance that will make $15 million available to qualified franchise candidates.
Franchise America Finance, a full service commercial franchise finance firm specializing in debt and equity placement, will work with qualified Pet Supplies Plus franchise candidates, as well as current franchise owners who are pursuing expansion, to offer a comprehensive solution for financing through a franchise lending program created specifically for the pet supply retailer.
Pet Supplies Plus will utilize this initiative to accelerate growth in Atlanta, Raleigh, Tampa, Minneapolis and St. Louis, while also introducing Denver, Houston, Nashville and Memphis to its friendly neighborhood pet store feel.
“We are honored to work with the well-respected team at Franchise America Finance as we continue to grow the Pet Supplies Plus franchise into new territories and expand our presence in current markets. The partnership with FAF will help qualified candidates accelerate the ownership process to get their stores open quicker,” said Alex Roberts, Vice President of Franchising.
Pet Supplies Plus opened a total of 10 franchise and 20 corporate stores in 2014, while inking deals with 17 new franchisees for continued momentum throughout 2015. The chain is on pace to open a total of 25 franchise stores over the next year.
“In addition to this recent partnership, our team has continued to build a strong business model for franchisees including increased support from our corporate headquarters, an optimized distribution process and a prototype designed for maximum unit-level economics,” added Roberts.
In 2010, Pet Supplies Plus was acquired by the private equity group, Irving Place Capital. Since then, the company has built a new 760,000+ square-foot distribution center and introduced a new “neighborhood-centric” prototype for all of its new stores, which boasts a layout emphasizing convenience, functionality and pet interaction. Investments range from $300,000 to $885,000 for a small store to $400,000 to $1.1 million for a larger location.
For more information about Pet Supplies Plus franchising opportunities, visit petsuppliesplus.com/franchise or contact Steve Olson at (734) 793-6532.
About Franchise America Finance
Franchise America Finance, LLC (FAF) was formed by a group of franchising professionals to address the void in the capital markets for franchising. FAF can provide senior and subordinated debt, mezzanine financing, and equity for franchisors and franchisees. Franchisors interested in participating in this program should contact: Ronald Feldman or Nate Greenberg at 610-668-9780 or visitwww.franchiseamericafinance.com.
About Pet Supplies Plus
With more than 300 locations in 25 Eastern states, Pet Supplies Plus has earned the reputation as America’s Favorite Neighborhood Pet Store by offering a wide array of pet food, pet products, grooming services and animal expertise in a welcoming environment. With a friendly, pet-centered culture, where store managers and associates actually know the names of hundreds of their pet customers and their pet parents, each Pet Supplies Plus is large enough to house a broad selection of food and equipment, yet small enough to still feel neighborly. The company, headquartered in Livonia, MI., has earned its success by understanding the unique bond between humans and their pets. Pet Supplies Plus is ranked in Entrepreneur magazine’s 35th Annual Franchise 500® list as the Top Full-Service Pet Supplies Franchise for its exceptional performance in areas including financial strength and stability, growth rate, and system size. For more information about Pet Supplies Plus, please visit www.petsuppliesplus.com/franchise.