Pet shops make an average of £35,540 per year when they receive the bulk of their net profits from the sale of pet products. Many shop owners make a small additional amount each year as a ‘pet income statement’. As a result, the majority of pet shop operators receive a salary that can often double as a dividend.
In 2010 approximately 5,300 pet stores operated in Greater London, with the most popular ones in Tower Hamlets and Islington.
Are pet owners entitled to a pet shop’s pension and superannuation?
Most pet shops in Greater London provide ‘superannuation’ for their senior staff only. Pet shops may also offer pension arrangements.
Pet shop owners can also opt for a number of other generous pension schemes, including a generous ‘equity’ scheme where the shop owner’s equity in the business is invested in superannuation funds and is then transferred to the owners pension.
Where can pet owners look for pet shop advice?
If you have a pet and need advice on finding a suitable owner, you can call Pet Advice or call the Paws and Paws Trust.
What about my retirement savings? Do they matter to pet shops?
Most pet shops will provide a generous retirement savings package to their staff. It includes a comprehensive range of services, including 401(k) investments, tax advice, and tax planning to name but a few. Some shops will also offer their employees a generous personal pension to help ensure that their pension funds stay healthy.
Can I save for a new pet as a pet shop manager?
Most pet shops have a ‘pet managers’ scheme, which offers a very generous pension to those who do not want to work as a general salesperson.
Can I find out what other benefits pet shops offer their staff?
Pet shops offer a wide range of benefits to their staff, including:
In the early 1990s we were in the midst of a massive housing bubble that had no end in sight. By the end of the decade, home prices in Manhattan were more than a third higher than they should have been, and in some other cities that gap was nearly double. When I graduated from MIT in 1995, only a quarter of the housing stock was in good shape. We were one of five private universities in Massachusetts with enough student bodies to have a housing crisis. Housing prices were soaring, and a huge percentage of the college seniors who did not have a mortgage were saddled with debt
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