We would like to introduce a beautiful Pet Paradise for sale on the edge of
Virginia and Tennessee within the Tri Cities area of Bristol, Va. Bristol is known as the
“birthplace of Country Music” and as highly unique Appalachian city defined by its dual-
state identity, rich musical heritage, explosive tourism growth, and robust outdoor
culture. The Tri-Cities region in Northeast Tennessee is growing at an annual rate of
about 0.95% to 1.3%, which is nearly three to four times faster than the post-2020
national average. This business is positioned dynamically along the I-81 corridor near
main retail hubs like The Falls (Exit 5) and the adjacent Pinnacle shopping center offer
massive regional draws including Target, Cabela's, Bass Pro Shops, Marshalls, and just
a few miles along the same I-81 hwy from Hard Rock and Bristol Speedway. With the
newly expanded Hard Rock Casino features hundreds of hotel rooms, a poker room,
gaming facilities, and a massive event center hosting top-tier touring acts. This
destination single-handedly skyrocketed Bristol, VA's annual visitor spending by 14%
to $179.7 million. Located just across the state line, the iconic, high-banked NASCAR
short track of Bristol Speedway brings hundreds of thousands of racing enthusiasts to
the immediate regional economy every year.
This business offers everything a pet owner could need for their pet from
Boarding to Grooming, and now a newly introduced Doggy Daycare. With the global pet
boarding, lodging, and resort industry growing at a compound annual growth rate
(CAGR) of 5.6% to 8.6%, this resort is above the national average with a 9.8% average
growth over the last 3 years. One of the largest Pet Resorts in the tri cities area
featuring 62 boarding kennels with 4 different sizes ranging from small indoor to
Presidential Indoor/outdoor runs, award winning Grooming area with room for up to 3
groomers, bathing section with 3 large tubs, dozens of grooming kennels, beautiful new
renovation to most of the facility, creation of Standard Operating Procedures, New
digital scheduling/payment/texting systems, and NOW a newly introduced indoor Doggy
Daycare section, one of the first of it’s kind for miles around.
The business is currently running semi passive with Standard Operating
Procedures and management in place allowing buyer to only have to work a few hours
per week. Also, with new surveillance and electronic scheduling, POS, and messaging
systems, any work that needs to be done may be done completely remote. Facility
could be run even more passive, however current owners still choose to be involved in
the hiring process and payroll, both of which could easily be moved to become
management duties. Facility has current new surveillance cameras in common areas
and wiring for cameras overlooking kennels.
Current 3-year average SDE is about $270,000 with an average gross annual
revenue of about $570,000. With the creation of the new Doggy Daycare program, and
boarding prices increasing on October 1st by 40% to better represent current market
pricing, overall revenue would be expected to increase by 36.2-52.9% over the next
year. Implementation of any partnership programs (Hard Rock Hotel, Tri Cities Airport,
Bristol Speedway), marketing schedules, or memberships by the new owners could
increase revenue even more since a marketing or membership program has yet to be
produced since the creation of the business.
Financials and other information will be provided upon completion of an NDA