Jacqueline Snyder and a co-speaker argue that small pets like hamsters and guinea pigs represent a 25 million owner market that's been largely ignored. While dogs and cats dominate the pet industry, entrepreneurs can build a "beautifully sized business" by innovating for small-pet owners instead of fighting over existing market share.
I believe there's room at the top for all of us. I believe that there is enough room for all the candle companies, the jewelry companies, the pet companies. It depends on the goal of where you want to go. 100% of the pie is taken up from dog and cat, but there is still 25 million hamsters or small pets, and there is still a market share for that. So what portion can you pull out and innovate in or step into? Because that is still a beautifully sized business.
Small pets, hamsters, gerbils, mice, guinea pigs, rabbits make up a sizable niche of the segment. There's like 25 million hamsters owned rooms in the world, but no one's innovating there. So you just have to have an idea and pluck away at it. It's not about, you know, the current pie that exists and divvying that up. It's about creating a bigger pie and seeing the opportunity for that.
