Verified — real FDD extraction
Not found in the SBA Franchise Directory — SBA financing may be unavailable; verify with your lender
PSP
Pet Services · independent · est. —
PSP is the franchising entity associated with Pet Supplies Plus, a neighborhood pet retail chain selling food, toys, supplies, and accessories for dogs, cats, and other pets, often with grooming and self-service dog wash. Customers shop for everyday pet needs in a store smaller and more local-feeling than big-box competitors. A franchisee operates a retail location, managing inventory, staff, and in-store pet services.
PSP net unit count grew +11.4% from 2022–2024 per its FDD Item 20.
New to franchising? Start here
A franchise is a business where you (the franchisee) pay a company (the franchisor) for the right to open and run a location using their brand and system — think a local Anytime Fitness or Taco John's owned by a small-business owner, not the corporation.
Before you can buy in, U.S. law requires the franchisor to give you a Franchise Disclosure Document (FDD) — a long legal filing covering its fees, finances, and history. The numbers on this page come straight from that document:
- Franchise fee — the one-time cost to buy in.
- Royalty — the ongoing cut of your sales you pay the franchisor.
- Item 20 — how many locations opened and closed, the basis for our verdict (from Proven & strong down to Distressed — or Too new to judge).
The verdict
Proven & strong
Distress
Enough units and history to judge, and the record is good: growing or stable units with clean exits by the standards of its disclosed record. The standout in the record: owners who leave mostly sell rather than fail.
Exit rate · latest year
1.6%
vs 4.7% across 18 pet services systems
Cost to open
$541K–$2.0M
Item 7 total investment range
SBA loan defaults
No loan record
no SBA 7(a)/504 loans found for this brand
Behind the verdict
the record, factor by factor · Item 20
3-yr trend · Item 20 Table 1
terminations + ceased-ops vs. all exits · Table 3
transfers vs. base · Table 3
actual vs. projected openings · Table 5
Item 19 disclosure + completeness
Systemwide units
2022–2024
Survival record
FDD Item 20 · outlet status by year
In fiscal 2024, 8 of 485 franchised outlets left the system — a 1.6% annualized exit rate, vs 4.7% across 18 pet services systems. Not every exit is a failure — but this is the measurable floor.
Show the outlet tables ↓Hide the evidence ↑
| Status (FTC) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Outlets at start | 601 | 660 | 719 |
| Opened | 60 | 60 | 28 |
| Transfers | 12 | 33 | 19 |
| Terminations | 0 | 0 | 0 |
| Non-renewals | 0 | 0 | 0 |
| Reacquired by franchisor | 1 | 0 | 3 |
| Ceased — other reasons | 4 | 4 | 8 |
| Outlets at end | 660 | 719 | 735 |
| Net change | +59 | +59 | +16 |
What it costs — and what it drags
FDD Items 5–7 · fees, investment, royalty
Buying in means a $50K franchise fee (Item 5) and a total investment of $541K–$2.0M (Item 7). The franchisor publishes an earnings claim (Item 19) — read its methodology closely.
To open (Item 7)
$541K–$2.0M
all-in investment range
Franchise fee (Item 5)
$50K
upfront, one-time
Royalty (Item 6)
3%
of sales, ongoing
Your figure — cross-check against this brand's Item 19 and current-owner validation.
Royalty you'd pay / yr
$30K
3% of sales, before profit
Over a 10-yr term
$300K
royalties alone, excl. ad fund
This is not profit. It's the only money the FDD actually pins down — what you put in, and the royalty you owe on every dollar of sales. Your real take-home depends on labor, rent, food cost, and ramp-to-breakeven, none of which any FDD discloses.
Build a real pro-forma for PSP with an independent CPADistress signals
news-sourced · bankruptcies, closures, lawsuits
No recent closures, bankruptcies, or major lawsuits found in the news for PSP. That's a good sign — but it reflects news coverage, not a guarantee.
A broker is paid by the franchisor to place you. An independent CPA is paid by you — and the job is pressure-testing PSP's numbers, including talking you out of a bad deal.
Talk to an independent CPA before you buy →PSP franchise questions, answered from the filings
What percentage of PSP franchises closed last year?
In PSP's latest FDD Item 20 (fiscal 2024), 8 of 485 franchised outlets left the system — an annualized exit rate of 1.6% — compared with 4.7% across 18 pet services systems tracked here. That counts terminations, non-renewals, and "ceased operations — other reasons." There is no official failure rate, and not every exit is a failure, but this is the measurable floor.
How much does a PSP franchise cost?
Per PSP's 2025 FDD, buying in requires an initial franchise fee of $50K (Item 5) and a total initial investment of $541K–$2.0M (Item 7).
What royalty does PSP charge?
PSP charges an ongoing royalty of 3.0% of gross sales, per Item 6 of its 2025 FDD.
Does PSP disclose earnings (Item 19)?
Yes — PSP makes a financial performance representation in Item 19 of its 2025 FDD. Read it closely: franchisors choose which units and which metrics to include.