III. Industry Analysis
Though a cat café seems like the perfect business idea, the first cat café only opened up in 1998 in Taiwan. However, since then, this type of business has exploded in popularity and now cat cafés can be found all around the world. Now, cat cafés are in high demand, especially in areas with thousands or millions of cat lovers.
Cat cafés not only offer a relaxing environment to unwind after a stressful day but a chance to meet and interact with adorable cats. Since the first one opened in 1998, thousands of cats have been adopted through cat cafés, relieving the burden of local shelters and providing safe homes for lovable cats. This has shown that not only does this industry provide unique and fun locations to relax, but also does a great service for the shelter cat population. Many people support any business that cares about animals’ well-being, so it’s no wonder that cat cafés are in such high demand.
Furthermore, the love for our feline friends has risen drastically in recent years. Approximately 45.3 million households own at least one cat and this number is rising. Moreover, about 32% of cat owners are millennials and it is expected that Gen Z will love cats just as much when they fully reach adulthood. With an increase in feline popularity, more people will be searching for adoptable cats to add to their family.
With the popularity of cat cafés and cats in general, this is a perfect time to open up such a business. By combining the love of cats with the joy of coffee and tea (two drinks that are universally loved), this is a niche industry that will be prosperous for a long time.