We’re proud to announce that our Q1 success continues to solidify us as an increasingly dominant player in the $143 billion pet industry. This is thanks to our standout approach that integrates cutting-edge techniques in comprehensive dog care with the latest advancements in canine behavioral science.
Central Bark Q1 Success
We finished 2023 with our highest system revenue in its history. This accomplishment was driven by strong trends, novel marketing and operations initiatives, and superior franchise execution. To start 2024, we kicked off our 20th anniversary during our 15th Annual Franchise Convention. This event saw record-breaking attendance from suppliers and franchisees alike. We also recognized our highest performing franchisees for their performance in 2023. We awarded top tier stores for median sales reaching $1,094,861 with a notable high of $1,480,971. Impressively, 46% of Central Bark locations exceeded the average unit volume of $767,776. As a franchise, this signals robust growth and profitability across the network. Additionally, we established a National Franchise Advisory Board (NFAB) and our Franchisee of the Year, Mike Roth of Orlando, FL is the current NFAB President. We also awarded our first 5-location multi-unit franchise agreement in Pennsylvania.
Leadership Team Expansion
We also added to our already-robust leadership team with strategic appointments and new hires. Athena Olson assumed the role of Director of Operations. Kristen Risby joined as Vice President of Marketing. Jason Perras took on the position of Chief Financial Officer. Each of these individuals brings a wealth of industry and franchising expertise and experience to our corporate team.
Digital Footprint Buildout
Central Bark enhanced its digital footprint with the launch of a strategic marketing partnership with SOCi. This focuses on optimizing online reviews, social media engagement and business listings with social media and website chatbots launching in Q2.
Membership Model Growth
Central Bark is always moving towards sustainable growth and an enhanced customer experience. That’s why we introduced our new recurring revenue membership model across 22 of our 40 locations. There are seven more in the pipeline. This initiative aims to foster long-term relationships with our customers. It will also provide added value and convenience. All stores will be on this new model by the end of the year.
What NFAB President Mike Roth Has to Say
“As a franchisee and now the President of the Central Bark National Franchise Advisory Board, I am extremely excited by everything we’ve achieved so far as a brand,” said Roth. “From our membership model to our strategic marketing initiatives, enhanced services, and steadfast focus on the latest in canine behavioral science, we’re impacting thousands of dogs and their families across the country for the better. It’s rare that you can own a business centered around something you are so passionate about, but with Central Bark, you absolutely can.”
What’s Next
Our expansion efforts remain steadfast. We have 40 stores now open and operating nationwide. Three new locations were inaugurated in Spring, Texas; Henrietta, New York; and Asheville, North Carolina. We have ten additional openings slated for later this year. As Central Bark continues to redefine the standards of excellence in pet care, our Q1 success sets a promising trajectory for the remainder of 2024 and beyond.