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While taking his Labrador retriever, Zuke, out for a walk one day, Patrick Meiering of Albuquerque, New Mexico came up with the idea of producing energy bars for dogs. With an initial capital investment of $15,000, Mr. Meiering cooked up the first batch of Power Bones energy/endurance supplements for dogs in his garage. Power Bones are now carried in local pet and natural food stores. Several years later Zuke inspired his owner to create another line of animal-based products called Hip Action, which help ease joint pain in cats and dogs.

Amy Nichols of Tysons Corner, Virginia combined her background in sales with her love for animals to open the Happy Tails Dog Spa, a day-care and spa exclusively for dogs, for her upwardly mobile clientele in 2002. In its first six months of operation, Happy Tails grossed $250,000. After its first year, the company had generated over one million dollars in revenue which was used to finance and grow this franchise business. Now known as "Dogtopia," Ms. Nichols' thriving business boasts 18 locations in 10 states across the country.

With over 39 percent of American households owning at least one dog and 34 percent owning at least one cat, the number of animal consumers in the U.S. stands at well over 100 million. This market for pet services and products is huge and expected to continue to grow. The Humane Society of the United States credits three major social trends for the rise and popularity of pet-based businesses:

• The increase in two-income households, which allow for more spending on pets.
• The lack of time being spent with pets due to career, family and other demands competing with a desire for well-cared for animals.
• The increase in travel for both humans and pets that spur a boom in animal tourists.

The market for pet-based services and products is booming and expected to continue its rapid growth. If you have a head for business and a heart for furry creatures, getting your administration business degree master's online and running an animal-based business might be a perfect fit for you.