If you own a pet, you will know that taking care of them can be costly if you add up all the extras besides food.
According to the latest reports, a pet owner will dish out more than £2,000 a year which includes a twice-a-week doggy daycare service and an extra £25 per month on treats.
Plus, when it comes to vacation time, you will probably book your adorable furry friend into a kennel which could cost on average around £200 for a seven-night stay.
Now, this is not taking into account insurance at £10 per month and food at £350 a year. If you add it all up, you are looking at spending at least £3,000 a year.
Studies suggest that 43% of owners of pets don’t do the necessary research into the costs involved in owning a pet and aren’t adequately prepared for the impact it has on a family’s finances.
Astonishing, isn’t it?
After you have recovered from the shock that it can cost by doing the math, you might consider making your pet work for you and recouping some of the money.
You can offset some of the £3,000 a-year upkeep costs as an investment in pet-related stocks at leading social networking provider eToro.
If you think about it…
Stocks like veterinary care or funeral houses offers a certain amount of protection in a portfolio.
The reasoning is that no matter the state of the economy, volatility or recession, a pet owner will always find money to care for their beloved family pets.
So let’s get down to business by taking a look at some profitable companies whose stocks are worth taking a look at and investing in on eToro’s platform.
Pets at Home
This is a UK publicly listed company as LSE: PETS on the London Stock Exchange with a revenue in 2018 of £898.9 million whose industry is pet-related products i.e. food, bedding, toys, medication and accessories.
This high street chain over the past 12 months has seen its share price soar 70.13% and as of 16 July their prices are more than 75% year to date.
Covering a five-year period over a medium-term, the group’s shares have risen by 37.18%.
CVS Health Corporation
Let’s dig a little deeper
Listed on the New York Stock Exchange as CVS with a $184 billion in annual revenue in 2018, they are ranked on the Fortune 500 as seventh.
They are one of the largest integrated veterinary service providers in the US with the year-to-date share price rising over 20% and over five years has surged 152.67%.
Admiral Pet Insurance
They offer a range of cover to make it more affordable for you to get quality veterinary treatment.
Part of the Admiral Group, they are listed on the London Stock Exchange which is the biggest home and insurance groups in the UK.
As of December 2018, their revenue was £1261.60 million.
That’s not all…
WR Berkley Corporation
Here’s another profitable company worth considering and investing in.
Listed on the NYSE under NYSE: WRB, they had a revenue of US $ 5.823 billion in 2012.
They offer various insurance solutions also for pets throughout the US, the UK, Continental Europe, South America, Scandinavia, Canada, Australia and Asia.