Our pet pooches are more than just adorable furballs. From the day they are brought home, either as a new puppy or an older rescue dog, they form part of the family.
Cost is not an issue when it comes to ensuring our pets are safe, well-groomed and kitted out with the latest gadgets, according to Admiral pet insurance and our own estimates.
On average, pet owners will spend more than £2,000 a year on a twice-a-week doggy daycare service and £25 per month on treats. Let’s not mention the near £200 for a seven-night stay in kennels so they are looked after while the rest of the family is enjoying a holiday.
These are just the added extras – insurance at £10 per month and food at £350 a year means that one family could easily spend north of £3,000 a year on their furry friend.
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This can have a great impact on a family’s finances and, in fact, research suggests that a quarter of dog owners weren’t prepared for what owning a dog would cost and 43% do no research on associated costs before picking up their pooch.
Despite all of this, however, there are ways to put your pet to work – and we aren’t talking about sourcing your poodle out to the local farm to round up sheep.
High street chain, Pets At Home, has seen its share price soar 70.13% over the past 12 months and more than 75% year-to-date (16 July). Over a medium-term of five years, the group has seen shares rise 37.18%.
The lesser-known AIM-listed company CVS Group, which is one of the country’s largest integrated veterinary services provider, has also performed well. Year-to-date the company’s share price has risen just over 20% and over five years has surged 152.67%.
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It is quite often said by professional investors that stocks such as veterinary care or funeral houses offer an element of protection in their portfolio. This is simply because, even in times of heightened volatility or perhaps recession, we will still find the money to cover pet insurance or the care required for our precious pets. And we are unlikely to bury them in the back garden should the worst happen…
An investment in pet-related companies could offset some of that £3,000 a-year upkeep costs – perhaps it is time to put your money behind your mutt.
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